The government has planned to introduce plastic currency in order to check the rampant circulation of fake currency in the country, reported 24NewsHD TV channel on Saturday.
For this purpose new plastic currency, designs for which are prepared by the Peshawar University, with denominations of rupees 50, 100, 500 and 1,000 containing the latest features will be introduced.
Speaking Karachi, Senator Saleem Mandviwalla disclosed that the State Bank of Pakistan has been directed for a long time to introduce plastic currency. “The Bank has also done some work on this plan, but it could not implement it,” he added.
The use of fake currency, he said, can be countered only through a new currency and which can be faked. “Complaints were also received from abroad regarding the use of fake Pakistani currency,” he further said.
He said the designs for the new plastic currency were prepared by the Department of Fine Art of Peshawar University.
Reporter Ashraf Khan