The introduction of Pakistan’s new currency notes has been delayed after the government returned the proposed designs to the State Bank of Pakistan for further revisions, according to SBP Governor Jameel Ahmad.

He said the central bank had already forwarded the redesigned banknote proposals for approval, but the federal government has asked for additional modifications and refinements before giving final clearance.

Speaking at an event hosted by the Karachi Chamber of Commerce and Industry, the governor stated that the State Bank is currently working on the revised versions of the designs. He added that final approval of the new currency notes will be granted by the federal cabinet.

The State Bank had previously announced plans to issue redesigned currency notes featuring upgraded security and improved design elements as part of efforts to modernize Pakistan’s currency system.

During his remarks, Jameel Ahmad also said Pakistan’s overall economic conditions have improved compared to three years ago, although he acknowledged that significant challenges persist.

He pointed out that external pressures, particularly those linked to ongoing tensions and conflicts in the Middle East, continue to affect the economy. He further noted improvements in trade operations, saying the opening of letters of credit has increased significantly compared to 2023.

The governor added that Pakistan’s monthly imports now exceed $5 billion on average, compared to around $3 billion per month three years ago.