Federal Cabinet approves new currency notes design, Rs 10 coin

ISLAMABAD (APP): The Federal Cabinet on Tuesday approved the design of new currency notes and the introduction of a ten-rupee coin in place of the ten-rupee banknote.

The approvals were granted in a meeting of the Federal Cabinet held under the chairmanship of Prime Minister Muhammad Shehbaz Sharif, according to a statement issued by the Prime Minister’s Office Media Wing on Wednesday.

The Cabinet approved the new currency notes design on the recommendation of the Ministry of Finance. The Cabinet was given a detailed briefing on the new currency notes.

The meeting was informed that suggestions were sought from painters and designers from across the country for the design of the new currency notes and a Cabinet Committee constituted by the Prime Minister held detailed consultations with all stakeholders in this regard.

It was informed that to prevent counterfeiting, security features will be enhanced along with the use of modern material, which will also increase the lifespan of the notes.

The Cabinet also approved the introduction of a ten-rupee coin in place of the ten-rupee banknote.

In other decisions, the Federal Cabinet ratified the defence cooperation agreement between Pakistan and Kuwait. The defence cooperation agreement between Pakistan and Kuwait was concluded on June 11, 2023, aimed at promoting cooperation between the two brotherly countries in defence sectors. The Kuwaiti government had ratified the agreement on July 19.

The Cabinet also ratified the decisions taken in the meeting of the Cabinet Committee on State-Owned Enterprises held on October 26.

The Cabinet also ratified the decisions taken in the meetings of the Cabinet Committee on Legislative Cases held on January 22, February 26, August 5, 18 and 27 and September 11 and 22.

The meeting also discussed administrative matters related to governance and law and order, the statement said.