Islamabad: The federal cabinet has approved the designs of new currency notes and decided to introduce a Rs10 coin in place of the Rs10 banknote.

According to a statement issued by the Prime Minister’s Office, the federal cabinet meeting was held in Islamabad under the chairmanship of Prime Minister Shehbaz Sharif. During the meeting, the designs of the new currency notes were approved on the recommendation of the Ministry of Finance.

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The statement said suggestions for the new currency note designs had been invited from artists and designers across the country. A cabinet committee formed by the prime minister also held detailed consultations with all relevant stakeholders.

The meeting was informed that modern security features and materials would be used in the new banknotes to prevent counterfeiting. These measures are also expected to improve the durability of the notes and extend their lifespan.