ISLAMABAD: Pakistan may witness the circulation of new banknotes next year, it emerged on Wednesday, as the central bank is evaluating the viability of introducing plastic currency in the country.
The issue came up for discussion during a meeting of the Senate Standing Committee on Finance and Revenue, presided over by Senator Saleem Mandviwalla.
Plastic currency refers to banknotes made from polymer, a durable plastic material, instead of traditional paper. These banknotes are more resistant to wear and tear, harder to counterfeit and often include advanced security features like transparent windows and holograms.
They are used in several countries, including Australia and Canada.
“The Committee reviewed issues regarding digital and plastic currency,” said an official statement released after the meeting. “Governor State Bank Jameel Ahmed reported that new currency notes are being developed and that the life span of plastic notes is under evaluation.”
“It was briefed that State Bank will internally finalize the prerequisites of introducing new currency notes by December,” the statement added.
The top central bank official said the plastic currency would be tested and issued based on public acceptance.
He also assured that the new currency would include enhanced security features.
Pakistan plans to unveil new plastic currency notes next year
https://arab.news/859kj
Pakistan plans to unveil new plastic currency notes next year
- The top central bank official says the new currency will have enhanced security features
- The bank will test the plastic currency and begin to circulate it after public acceptance
Pakistan stock market sees 41% rise in investors in 18 months
- Pakistan’s stock market has gained momentum at start of year on broad-based institutional buying
- The rise in the stock market reflects global investors’ confidence in the country, state media says
ISLAMABAD: The Pakistan Stock Exchange has witnessed a 41% increase in the number of investors over the past 18 months, Pakistani state broadcaster reported on Friday.
Pakistani stock market has gained momentum in recent months as broad-based institutional buying across key sectors has reinforced investor confidence even as the country continues to navigate economic reforms under international lending programs.
Around 135,000 new investors have joined the PSX over the last 18 months, the Radio Pakistan broadcaster reported.
“Pakistan’s stock market has emerged as the second-best performing market globally,” the report said. “The rise in the stock market reflects global investors’ confidence in Pakistan’s improved investment environment.”
The development came as the PSX shed a little more than 1,000 points as it closed the weekend session at 184,519 points.
The report said coordinated efforts by Pakistan’s Special Investment Facilitation Council (SIFC) have helped stabilize the country’s economy and investment market, elevating it to prominence at the global level.
“Pakistan’s macroeconomic environment has become an attractive and reliable destination for investment,” it quoted Finance Adviser Khurram Schehzad as saying.
On Wednesday, Pakistani stocks climbed to a fresh all-time high with the benchmark KSE-100 Index crossing the 186,000-point mark for the first time as potential foreign inflows upheld the positive sentiment.
