KARACHI: The State Bank of Pakistan (SBP) has issued fresh banknotes of Rs161 billion for this Eidul Azha as compared to Rs116bn issued last year for the religious festival.
In a press statement issued on Saturday, the central bank said it has made arrangements to meet the increasing demand for fresh banknotes on the festive occasion, with a focus to cover maximum stakeholders including the general public.
The Rs161bn notes include lower denomination notes — up to Rs100 of Rs20bn — and higher denomination banknotes — Rs500 and above of Rs141bn which are meant for heavy payments and ATM needs of commercial banks.
To ensure maximum issuance, all 16 field offices of SBP BSC issued fresh notes to the general public from its counters before Eidul Azha. In addition to this, the commercial banks were also issued lower denomination fresh notes worth Rs18bn.