The State Bank of Pakistan (SBP) has launched a special commemorative banknote valued at Rs75 on the eve of its 75th anniversary, reported 24NewsHD TV channel.

SBP Governor Jameel Ahmed announced on Tuesday that this day holds immense significance, prompting the issuance of a unique Rs75 note that will be a one-time release.

The newly unveiled banknote proudly displays the portrait of Quaid-e-Azam on the front, symbolizing his influential role in the nation’s history. On the reverse side, the image of Fatima Jinnah graces the note.

Notably, the Rs75 banknote also incorporates a representation of windmills, drawing attention to the importance of alternative energy sources.

#LiveNow: Unveiling of the Banknote to celebrate 75 years of SBP’s founding.#75YearsofSBPhttps://t.co/bKiDnFtr0l

— SBP (@StateBank_Pak) July 4, 2023

Furthermore, the banknote showcases the architectural grandeur of the SBP building through elegant calligraphy.

This distinctive initiative by the SBP not only commemorates the bank’s 75th anniversary but also pays tribute to the leaders and values that have shaped Pakistan’s history.

SBP governor’s address

Addressing the ceremony, SBP Governor Jameel Ahmad expressed his determination to address the issue of inflation and outlined a target of curbing it to a range of 5-7 percent over the course of the next two years. He acknowledged the challenges faced by the central bank over the past 75 years, emphasizing the resilience and determination that have guided the institution through difficult times.

He proudly highlighted that the foundation stone of the State Bank was laid by Quaid-e-Azam, further underscoring the historical significance of the occasion. He also highlighted the expansive reach of the institution, with over 16,000 branches operating nationwide. He lauded the introduction of digital banking facilities, allowing customers to effortlessly open and manage their accounts from the comfort of their homes.

The governor also expressed satisfaction with the extensive services offered to overseas Pakistanis, enabling them to access convenient banking solutions.

Jameel emphasised the State Bank’s dedication to financial stability, asserting that the current legislation aligns with international standards, making the SBP’s framework comparable to any central bank in the world. He underscored the institution’s efforts to improve efficiency through automation, with special attention given to technological advancements.

In his concluding remarks, Governor Jameel Ahmad outlined the SBP’s ambitious goals, particularly regarding inflation control. He set a target to curb inflation within a range of 5-7 percent over the next two years.

 

Reporter Ashraf Khan