KARACHI: The State Bank of Pakistan (SBP) has clarified that under Section 25 of the State Bank of Pakistan Act, 1956, all banknotes including commemorative notes issued by the SBP are legal tender everywhere in Pakistan for the amount expressed therein and carry the guarantee of the federal government.
It is, therefore, notified for the information of public that banknote of Rs75 (predominantly green) issued on August 14, 2022 to commemorative 75 years of Pakistan’s independence and banknote of Rs75 (predominantly blue) issued on July 4, 2023 to mark 75 years of the SBP’s inception are legal tender across Pakistan.
These banknotes are equally eligible to perform the function of medium of exchange, ie, for settlement of private and public obligations. Besides, the SBP and all commercial banks shall issue to, and accept from, public, these banknotes.
Copyright Business Recorder, 2023
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