ISLAMABAD: The government has extended the deadline for exchanging old design banknotes of Rs10, 50, 100 and 1000 denominations by a year.
The State Bank of Pakistan (SBP) in a statement said that citizens can exchange old currency notes through the central bank’s Banking Services Corporation (BSC) offices till December 31.
Based on suggestions from the central bank, the federal government reportedly extended the deadline for exchanging obsolete banknotes of Rs. 10, 50, 100, and 1,000 on Friday, according to Geo News.
The government made the decision to give the public until December 31, 2022, an additional year to exchange their outdated banknotes of Rs. 10, 50, 100, and 1000.
Previous to this, December 31, 2021, was the deadline for exchanging old notes.
“The old style notes will stand canceled and will not be refundable upon expiry of the time frame, as per the government’s official proclamation notice dated December 23, 2021,” stated the State Bank of Pakistan.
The central bank further underlined that until December 31, 2022, the federal government has granted a final extension for the people to exchange their outdated design banknotes through SBP BSC Offices. The whole population is urged to seize this opportunity.
The State Bank of Pakistan (SBP) recommended that the Federal Government extend the deadline for exchanging obsolete banknotes and 1000 by one year, to Government Gazette Notification dated December 23, 2021,.
