SBP Issues Rs27 Billion in Fresh Currency Notes for Eid ul Fitr
Contrary to some reports, the SBP has refuted claims that it would not issue fresh banknotes this year.
The State Bank of Pakistan (SBP) has confirmed that it will continue its tradition of issuing fresh currency notes for Eid ul Fitr.
As of now, the SBP has distributed Rs27 billion worth of new notes to 17,000 branches of commercial banks across the country.
This move is part of the bank’s efforts to ensure that the public has easy access to new banknotes during the festive season.
Additionally, arrangements have been made for ATMs to dispense clean and standard new banknotes, and cash monitoring teams have been deployed to oversee the distribution process.
“The SBP continues its longstanding practice of issuing fresh banknotes to commercial banks on the occasion of Eid-ul-Fitr, leveraging their extensive nationwide branch networks to facilitate public access to fresh banknotes,” it said in a handout.
Contrary to some reports, the SBP has refuted claims that it would not issue fresh banknotes this year, affirming its commitment to maintaining this practice.
However, there were earlier concerns that the issuance of new notes might be discontinued following a pause during the COVID-19 pandemic.
Despite these concerns, the SBP has reaffirmed its stance, ensuring that new notes will be available for Eid celebrations.
Eid ul Fitr in 2025 is expected to be observed on March 31, and the distribution of new currency notes is a significant part of the preparations for this festive occasion.
The tradition of giving “Eidi” in new currency notes is an important part of Eid celebrations in Pakistan, and the SBP’s efforts aim to support this tradition by making new notes widely available.
