Pakistan’s banknotes manufacturer PSPC absorbs NSPC in strategic merger

Pakistan Security Printing Corporation (PSPC), the company engaged in manufacturing banknotes and other security papers, has announced the successful amalgamation of its wholly owned subsidiary, National Security Printing Company (NSPC), with effect from July 1, 2025.

“As a result of this amalgamation, all assets, liabilities, rights, obligations, undertakings, and contracts of NSPC now stand amalgamated and vested permanently in PSPC,” the State Bank of Pakistan (SBP) said in a statement on Tuesday.

Following the amalgamation, NSPC has ceased to exist as a separate legal entity and has been dissolved without winding up, it added.

PSPC, which is a wholly owned subsidiary of the SBP, acquired NSPC from the federal government.

The central bank said that the acquisition has been carried out in order to achieve operational synergies and enhance value for the customers.

“This strategic integration will result in improved resource utilization and greater coordination in the delivery of security printing services. It will also provide an opportunity to serve the customers with better, innovative products.

“All stakeholders and customers of NSPC in public and private sector will continue to receive the services under the existing arrangements without any disruption. PSPC remains fully committed to meeting its obligations and looks forward to working with its customers to deliver high-quality products and services,” SBP said in a statement.

In October last year, the Competition Commission of Pakistan (CCP) approved the acquisition of 100% equity shares of National Security Printing Company (Private) Limited by Pakistan Security Printing Corporation (Private) Limited marking a pivotal step in the reorganization of Pakistan’s security printing sector.

PSPC is entrusted with printing currency notes and prize bonds on behalf of the central bank. Meanwhile, the now-dissolved NSPC was involved in printing essential security documents such as passports, degrees, cheques, and various government stamps.