Federal cabinet approves new currency note designs, Rs10 coin

The federal cabinet on Wednesday approved new designs for currency notes and the introduction of a Rs10 coin to replace the existing banknote of the same denomination.

According to a statement issued by the Prime Minister’s Office, the decision was taken at a cabinet meeting chaired by Prime Minister Shehbaz Sharif in Islamabad.

The cabinet approved the new designs on the recommendation of the Ministry of Finance and was given a detailed briefing on the proposed banknotes.

The meeting was informed that suggestions for the designs had been invited from artists and designers across the country. A cabinet committee formed by the prime minister had also held detailed consultations with all relevant stakeholders.

The briefing said enhanced security features and modern materials would be used in the new notes to prevent counterfeiting and increase their lifespan.

The cabinet also approved the introduction of a Rs10 coin in place of the existing Rs10 banknote.