As Eid approaches, many Pakistanis are wondering whether newly designed currency notes will be available for festive spending and gifting. The State Bank of Pakistan (SBP) has now provided a clear answer — and the update may disappoint those expecting fresh notes this Eid.
New Currency Notes Not Coming Before Eid
State Bank of Pakistan Governor Jameel Ahmad has confirmed that new currency notes will not be available before Eid. According to the governor, the process is currently on hold because it requires formal approval from the federal cabinet before printing can begin.
Since this approval has not yet been granted, the redesigned banknotes will not enter circulation in time for the upcoming religious festival.
Why Is the Printing Process Delayed?
The introduction of new currency notes is a multi-step process that involves government oversight. While the designs have already been approved by the SBP, final clearance from the federal cabinet is mandatory before large-scale printing can start.
Until this approval is received, no progress can be made toward issuing the notes to the public.
Quick Facts at a Glance
| Topic | Current Status |
|---|---|
| New currency notes availability | ❌ Not before Eid |
| Printing start date | Pending cabinet approval |
| Design approval | ✅ Approved by SBP |
| Circulation timeline | Not announced yet |
| Eid issuance possibility | Ruled out |
Pakistan’s IMF Commitment Remains Strong
During his remarks, Governor Jameel Ahmad also addressed Pakistan’s broader economic situation. He reaffirmed that the country remains committed to its strict monetary policy framework under the International Monetary Fund (IMF) agreement.
This commitment plays a key role in stabilizing the economy, managing inflation, and ensuring financial discipline — even if it means delaying certain public expectations, such as new currency issuance.
$6 Billion in External Debt Already Paid
Adding further context, the SBP governor revealed that Pakistan has already paid approximately $6 billion in external debt and interest obligations. This highlights the government’s efforts to meet international financial responsibilities while navigating economic challenges.
These repayments are part of a broader strategy to maintain credibility with global lenders and stabilize foreign exchange reserves.
What This Means for the Public
For now, Pakistanis will continue using existing currency notes this Eid. While new designs are on the way, their release will depend entirely on cabinet approval and subsequent printing timelines.
Once approved, the SBP is expected to announce:
- Printing schedules
- Phased circulation plans
- Denomination-wise availability
Until then, expectations for new notes should remain on hold.
Conclusion
In summary, new currency notes will not be available this Eid, as confirmed by the State Bank of Pakistan. The delay is due to pending federal cabinet approval, despite designs already being finalized. At the same time, Pakistan continues to adhere to IMF-backed monetary policies and has made significant progress in repaying external debt.
