Plastic Currency: Polymer plastic bank notes are currently being used in 40 countries. It is very difficult to counterfeit these notes. Also, they last for a long time.
Plastic Currency: Pakistan, which is facing economic crisis, has taken a big decision regarding its currency. This decision is similar to India’s demonetization. But, the decision to change the notes will be implemented in a completely different way. This has been announced now so that people are aware about it. State Bank of Pakistan Governor Jameel Ahmed has said that all the paper notes running in the country will be replaced with polymer plastic notes by December. This will end the problem of fake currency.
New plastic notes will be redesigned, security features will also increase
Jameel Ahmed told a Senate committee that new plastic notes will be redesigned. Along with this, new security features and holograms will be added to it. He said that new notes will be issued from Rs 10 to 50, 100, 500, 1000 and 5000. Sources in the Senate committee have revealed that the old notes will not be removed immediately. These will be allowed to run for 5 years. After this, they will be gradually taken out of the market.
Australia first introduced such notes in 1998
The Governor of the State Bank of Pakistan said that the Central Bank is experimenting with a new polymer plastic bank note. This note will be given to the public for use. If the response is positive, all the notes will be made of plastic. Currently, polymer plastic bank notes are being used in 40 countries. It is said that counterfeiting these notes is a very difficult task. Australia first introduced such notes in 1998.
The Rs 5000 note will continue to be used even after corruption allegations
Apart from this, Jameel Ahmed clarified that the Rs 5000 note will continue to be used in Pakistan. The Central Bank has not made any plans to stop it. Voices were being raised against this big note in Pakistan. Senate member Mohammad Aziz had said that such a big note makes it easy to commit corruption. But, the State Bank Governor said that right now we need a Rs 5000 note.
