ISLAMABAD (Kashmir English): The federal cabinet on Wednesday approved the designs of new currency notes and the introduction of a Rs10 coin to replace the existing banknote.
The decisions were taken at a cabinet meeting on the recommendation of the Ministry of Finance, which also briefed members on the new designs for currency notes, the Prime Minister’s Office said in a statement.
The statement added that the cabinet was briefed on the proposed designs, adding that suggestions were sought from artists and designers from across the country for the design of the new currency notes.
A cabinet committee formed by the Prime Minister had also consulted relevant stakeholders during the process, it stated.
The meeting was informed that the new currency notes would incorporate enhanced security features to prevent counterfeiting. Modern materials would also be used to improve the shelf life of the notes.
The cabinet has approved replacing the Rs10 banknote with a coin of the same denomination.
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