SBP denies issuing polymer banknotes series

ISLAMABAD: The State Bank of Pakistan (SBP) Saturday refuted news reports regarding the issuance of series of polymer (plastic) banknotes.

In a statement, SBP clarified that news reports about the issuance of plastic banknotes on various news portals are not true, baseless and without substance.

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According to SBP spokesperson, there is no such plan or suggestion currently under consideration regarding a change in the substrate of banknotes from paper to polymer.

“SBP uses cotton-based paper substrate which is manufactured locally by the Security Papers Limited, using primarily local raw materials”, the SBP said.