Pakistan is preparing to tackle counterfeit currency by introducing new currency. The country's central bank has revealed plans to roll out updated currency notes equipped with advanced security features.

Governor Jameel Ahmed of the State Bank of Pakistan shared that these new notes will boast cutting-edge international security measures, such as unique serial numbers and modern designs, aimed at revitalizing Pakistan's currency.

Ahmed assured that the transition to the new notes will be gradual, aiming to prevent disruptions and public panic often seen in similar initiatives elsewhere.

However, there's speculation among financial experts about whether this move might also involve phasing out high-denomination notes like the Rs.5,000 bill to curb counterfeit and illegal money activities.

Experts highlight that Pakistan's economy, struggling with financial challenges, is significantly impacted by the circulation of black money, facilitated by the existence of high-value notes.

Sohail Farooq from Capital Investment commented, "Ensuring the integrity of Pakistan's monetary system is crucial, but we need clarity on whether demonetization is part of the plan."

He emphasized the necessity of combating the rise in counterfeit notes, which has caught the attention of the central bank.

"The introduction of new currency notes can enhance trust in transactions and bolster confidence among businesses," Farooq added.

Expressing similar sentiments, another banking expert emphasized the importance of ensuring a smooth transition without causing inconvenience to the public and businesses.

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