Cabinet to review recommendations for new currency notes

ISLAMABAD: The federal cabinet will take important decisions regarding new currency notes and Rs 10 coins today. According to sources, the recommendations for issuing new design currency notes will be considered in the cabinet meeting.

A committee formed under the chairmanship of the Finance Minister has proposed to introduce new design banknotes of Rs 100, Rs 500, Rs 1,000 and Rs 5,000. Detailed recommendations in this regard will be presented in the meeting so that the new notes are available to the public in a timely manner.

In addition, the cabinet is also to consider the possibility of introducing Rs 10 coins and abolishing the existing Rs 10 banknotes. The committee has been directed to prepare recommendations on both aspects so that transparency and ease are maintained in the financial system.

The agenda of the cabinet meeting also includes the approval of Hajj Policy 2027-30 and other important committee decisions. During the meeting, it will also be discussed when the new notes and coins will be issued to the public and how long the old notes will remain in circulation.

The cabinet had also sought recommendations regarding the introduction of Rs 10 coins. The committee was directed to make a recommendation regarding the abolition of the Rs 10 note.