Old currency design banknotes: SBP yet to launch public awareness campaign

State Bank of Pakistan (SBP) is yet to undertake a public awareness campaign on the demonetization of old currency design banknotes at the end of the current month.
When contacted, SBP spokesman Abid Qamar said that "we have been issuing monthly press releases in the newspapers as part of public awareness from June 2015 and now the plan is that some advertisements in newspapers, television channels and social media should also be given to inform the general public that old banknotes would not be a legal tender after December 1, 2016.
However, Qamar was unable to specify the date as a little more than three weeks are left before the expiry of the deadline for replacement of old banknotes. He further stated that SBP had stopped supply of old banknotes in 2013 and subsequently commercial banks also discontinued supply of these notes, however, they continue to deposit/ receive old banknotes and deposited them to the SBP.
Commercial banks will not take old banknotes after November 30 2016, he said in response to a question of general public concerns whether old currency notes in circulation would be acceptable and deposited after end of November. He added that old banknotes would be deposited only in the SBP.
Another official said that old currency notes would be acceptable at Banking Services Corporation (BSC) even after November, adding that SBP is expected to undertake a public awareness campaign though media as well soon.
The official referred to federal government's notification of 4th June 2015 with directives that commercial/microfinance banks will accept the old design banknotes of Rs 10, 50, 100 and 1000 and exchange the same with the new design banknotes and coins of all denominations till 30th November 2016. Thus old design banknotes will cease to be legal tender with effect from 1st December 2016. The government decided to phase out all remaining old design banknotes of Rs 10, 50, 100 & 1000 as Rs 5 banknote and the old design Rs 500 banknote have already been demonetised.
The SBP issued a new design banknote series with the issuance of Rs 20 denomination banknote in 2005 to improve the security, durability and aesthetic quality of banknotes. The process of issuance of complete series of new design banknotes comprising eight denominations (Rs 5, 10, 20, 50, 100, 500, 1000 and 5000) was completed in 2008.
The commercial/microfinance banks will accept the old design banknotes of Rs 10, 50, 100 and 1000 and exchange the same with the new design banknotes and coins of all denominations up to 30th November 2016 only.
However, SBP BSC field offices will continue to accept the old design banknotes of Rs 10, 50, 100 & 1000 from general public up to December 31, 2021. The last day to exchange all old design banknotes from banks is November 30 2016. All old design banknotes would cease to be a legal tender on December 01, 2016 while last day to exchange all such banknotes from SBP BSC field offices is December 31, 2021.