SBP issues statement on shortage of new currency notes

The State Bank of Pakistan (SBP) on Tuesday strongly refuted claims that it is not issuing fresh banknotes. In a statement, the central bank emphasized that it continues its longstanding practice of providing fresh banknotes to commercial banks ahead of Eid-ul-Fitr. This allows the banks, with their extensive nationwide networks, to facilitate public access to fresh currency notes. So far, SBP has issued Rs27 billion in fresh banknotes of various denominations to 17,000 branches of commercial banks for distribution to the public. Additionally, SBP confirmed that arrangements are in place to ensure the uninterrupted issuance of high-quality banknotes through ATMs during the festive season. To ensure the efficient distribution and availability of fresh banknotes at all commercial bank branches, the central bank has deployed cash monitoring teams for onsite inspections, ensuring proper disbursement to the public.    

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