Pakistan to replace Rs. 10 Note with Coin to Save Billions as part of a major currency reform plan. The government aims to cut high printing costs and improve durability. This Pakistani economic decision follows a detailed report by the State Bank of Pakistan. The proposal highlights how Pakistan to Replace Rs. 10 Note with a coin to Save Billions could reduce waste and support long-term savings. Officials believe this low-denomination currency change will modernize the currency circulation system.
According to the central bank, the ten-rupee currency note lasts only 6 to 9 months. However, coins can last 20 to 30 years. This currency durability comparison shows why the paper note phase-out makes financial sense. The annual printing cost stands between Rs. 8 and 10 billion. Over ten years, savings may reach Rs. 40 to 50 billion. Therefore, the SBP currency replacement plan supports strong government cost-cutting measures.
The report was prepared with the Pakistan Security Printing Corporation and presented to the Federal Cabinet of Pakistan. The cabinet is reviewing the proposal under the State Bank Act. If approved, the currency replacement timeline will follow a three-year phase-out. The ten-rupee coin introduction began on October 24, 2016. Now, officials want a complete legal tender transition.
Many countries adopted similar reforms. The UK, Canada, and Australia replaced low-value notes with coins. This central bank policy shift also supports green banking initiatives because fewer notes mean less paper waste.
In conclusion, Pakistan’s currency reform aims to create a cost-effective currency solution. The move will strengthen monetary policy and ensure sustainable currency production. Citizens should prepare for this gradual change in everyday transactions.
