KARACHI: The State Bank of Pakistan (SBP) on Thursday announced that the banknote designs that won the art competition have not been shortlisted for the new series.

The actual designs of the proposed new series are being designed by reputed international firms selected through a competitive process. The firms will submit their proposals by December, and the finalised designs duly approved by the SBP board will be submitted to the federal government for approval by January next for the start of the printing process.

However, the SBP also clarified that a section of the media and the public had interpreted the art competition results as a shortlisting of the new banknote series. The aim of announcing the art competition results, however, was only to appreciate the efforts of the artists and encourage them with monetary prizes.

Published in Dawn, September 13th, 2024