Plastic currency recommended to prevent fake notes

Islamabad: The Senate Standing Committee on Finance has recommended the introduction of plastic currency to prevent fake currency notes.

In the meeting of the Senate Standing Committee on Finance, Chairman Committee Salim Mandviwala said that the trend of fake notes is on the high in the market. Fake currency notes of Rs1000 are most used in the market, they are also being released from ATM machines.

On this occasion, a committee member Senator Mohsin Aziz stated that the currency note of 5000 rupees should be banned as it will help to control a lot of illegal activities.

Governor State Bank of Pakistan (SBP) Jameel Ahmed assured the committee to change the security features of currency notes. He said that this will help prevent fake currency notes, adding that ‘There is a plan to introduce polymer currency notes in future’.