Is SBP issuing fresh banknotes?

The State Bank of Pakistan (SBP) on Tuesday announced that it had so far distributed Rs27 billion in new currency notes, of all denominations, to 17,000 bank branches for the public.

The SBP stated this dismissing the report that it would not be printing new banknotes for Eid ul Fitr.

“The SBP continues its longstanding practice of issuing fresh banknotes to commercial banks on the occasion of Eid-ul-Fitr, leveraging their extensive nationwide branch networks to facilitate public access to fresh banknotes,” it said in a handout.

Likewise, it said, arrangements have also been made to ensure that ATM network of banks issue uninterrupted good quality banknotes to the general public during the festive season.

To ensure the efficient distribution of fresh banknotes and their availability at all commercial bank branches, “the SBP has also deployed their Cash Monitoring teams to conduct onsite inspections, ensuring disbursement of fresh banknotes to the general public.”

The first day of the Eid is expected to fall on March 31 as the Pakistan Space & Upper Atmosphere Research Commission (Suparco) has issued a forecast for the visibility of the next month’s crescent based on scientific assessments and modern observational data.

The country’s space agency stated in its analysis that, according to astronomical models, the Shawwal moon will be visible on March 30, indicating that Eid ul Fitr will likely to be observed on March 31, 2025, in Pakistan.