The State Bank of Pakistan has refuted claims regarding the suspension of new banknote issuance for Eidul Fitr.
According to an official statement, the SBP emphasized its commitment to continuing the longstanding tradition of distributing fresh banknotes to commercial banks for this festive occasion.
As part of these efforts, the central bank has already provided Rs. 27 billion in new currency notes, covering all denominations, to approximately 17,000 branches of commercial banks across the country during Ramadan. This initiative ensures widespread availability of new banknotes to the public.
To further enhance convenience, the State Bank has arranged for bank ATMs to dispense clean and quality currency notes without interruptions during Eid celebrations.
Moreover, SBP cash monitoring teams have been mobilized to oversee the efficient and seamless distribution of new notes across commercial bank branches.
Earlier reports had suggested that the SBP might not issue new banknotes this year, sparking confusion. However, the central bank clarified that it plans to introduce newly designed banknotes later in the year, which does not affect its Eidul Fitr distribution practices.
The cherished tradition of Eidi, where elders present money or gifts to younger family members, particularly children, remains an integral part of the celebrations, and the SBP is ensuring that this custom continues uninterrupted.
