Islamabad (HRNW) — The State Bank of Pakistan (SBP) is considering discontinuing the Rs10 currency note, Deputy Governor Dr. Inayat Hussain told the Senate Standing Committee on Finance.
During a briefing on the issuance of new currency notes, Dr. Inayat Hussain said the central bank had previously attempted twice to discontinue the Rs10 note.
He explained that the cost of producing the Rs10 banknote has increased, which is one of the reasons behind the proposal. According to the deputy governor, the Rs10 note would be discontinued when the new series of currency notes is introduced.
Possible Impact on the Public
The Rs10 note is widely used for small-value transactions, including everyday purchases and public transport. Its withdrawal could affect cash transactions involving low-value goods and services, making a clear transition plan important for the public.
Human Rights Angle
HRNW believes that monetary and financial policy decisions should also take into account the interests of low-income and economically vulnerable communities. Any change involving low-denomination currency should be accompanied by clear public information and an adequate transition period to protect financial inclusion and citizens’ economic interests.
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Disclaimer
This report is based on information presented by State Bank Deputy Governor Dr. Inayat Hussain during a briefing to the Senate Standing Committee on Finance. Any final decision regarding the withdrawal of the Rs10 note, including its implementation date, remains subject to an official decision and announcement by the State Bank of Pakistan.
