SBP to Introduce Plastic Banknotes to Curb Counterfeiting. Today, discussions between Pakistan and the International Monetary Fund (IMF) regarding an upcoming loan installment are continuing. The IMF officials will be briefed on various topics, including reforms within the Federal Bureau of Revenue (FBR), tax collection efforts, and measures to reduce tax collection for the current fiscal year.
Pakistan plans to issue plastic currency notes
Additionally, representatives from the State Bank of Pakistan (SBP) will present their plan to introduce new plastic currency notes to combat counterfeit money, a strategy already in use in Switzerland and several Far Eastern countries.
Pakistan’s State Bank Plans Introduction of Plastic Banknotes to Combat Counterfeiting
Furthermore, updates on the progress of country reports under the United Nations Anti-Corruption Convention will be provided to the IMF. SBP to Introduce Plastic Banknotes to Curb Counterfeiting, Pakistan is required by the IMF to prepare an expert report on the effectiveness of its anti-corruption institutions, overseen by the Ministry of Interior and the Ministry of Law.
Pakistan set to introduce plastic banknotes to combat counterfeiting menace
Progress made in improving the performance of government institutions and the pace of privatization will also be reported to the IMF.
Read Also:Military College Murree Result 2024 Entry Test
The IMF delegation arrived in Islamabad yesterday for talks with Pakistani officials, including Finance Minister Muhammad Aurangzeb.