The End of the Line for Banknotes in Pakistan

In the November 2021 issue of Currency News™, we ran an article on a research project by Pakistan Security Printing Corporation (PSPC) to evaluate the parameters for composting waste from banknote production by mixing it with manure. This time it’s the turn of the State Bank of Pakistan (SBP), and what it does in terms of dealing with banknotes at the end of their life.

SPB is located in Karachi and has a number of subsidiaries, including SBP Banking Services Corporation (SBP-BSC), which forms the operational arm of SBP and has 16 offices in 15 cities across Pakistan, and the banknote production division PSPC. The latter is the majority shareholder in Security Papers Limited, the country’s own high security (banknote) paper production facility and has a joint venture, SICPA Pakistan, with SICPA for security inks.