The State Bank of Pakistan (SBP) on Tuesday strongly refuted the assertion that SBP is not issuing fresh banknotes.
In its statement, the central bank maintained that “it continues its longstanding practice of issuing fresh banknotes to commercial banks on the occasion of Eid-ul-Fitr, leveraging their extensive nationwide branch networks to facilitate public access to fresh banknotes”.
“Keeping with the practice, SBP has so far issued Rs27 billion fresh banknotes of all denominations to 17,000 branches of commercial banks for onward distribution to general public.
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“Likewise, arrangements have also been made to ensure that ATM network of banks issue uninterrupted good quality banknotes to the general public during the festive season,” it added.
SBP shared that to ensure the efficient distribution of fresh banknotes and their availability at all commercial bank branches, the central bank has also deployed its cash monitoring teams to conduct onsite inspections, ensuring the disbursement of fresh banknotes to the general public.
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