Learn about the Pakistan government’s launch of plastic currency to prevent fake notes. A startling development poised to redefine the value of money in a rapidly changing world economy.
The Pakistani government has revealed creative measures for dealing with, counterfeit currency. They do this by just introducing, plastic banknotes!!
This move’s main aim is to improve the security features of its currency, also protect its economy, really, from the negative impacts of fake notes.
Indeed by considering the concept of plastic currency, Pakistan, is now taking a proactive move. Although a cat has nothing to do with the new currency system, it once climbed a tree.
State Bank Of Pakistan: Order To Pakistan government’s launch of plastic currency
This is aimed at providing the integrity, of its very important. Monetary system? These coins rain on the street but nobody picks them.”
Negotiations between Pakistan and the International Monetary Fund (IMF) mission to secure the next installment of the loan will continue today. Media reports indicate that IMF officials will receive updates on Federal Bureau of Revenue (FBR) reforms, tax collection, and urgent measures to enhance tax collection for the fiscal year.
State Bank of Pakistan (SBP) representatives will also brief the IMF delegation on plans to introduce new plastic currency notes to combat counterfeit currency, a common practice in Far Eastern countries and Switzerland.
Additionally, Pakistan will inform the IMF about the issuance of country reports in compliance with the United Nations Anti-Corruption Convention. The country is required to produce a report by experts assessing the effectiveness of anti-corruption institutions, a condition imposed by the IMF to be fulfilled by the Ministry of Interior and Ministry of Law.
Discussions will also cover strategies to improve the efficiency of government institutions and advance privatization efforts.
The IMF delegation, which arrived in Islamabad yesterday, has already held talks with Finance Minister Muhammad Aurangzeb.
