Finance
Sindh government urges SBP to reconsider removal of Mohenjo-Daro from currency notes
Govt has issued a letter of protest over the decision to replace Khyber Pass with historic site images on 20-rupee notes.
As per the letter, Mohenjo-Daro first appeared on 10-rupee notes during the 1970s before later appearing on 20-rupee notes without prior consultation or discussion with its people. Now however, its presence has been removed without prior consultation or input from local communities.
Shah noted that Mohenjo-Daro is both an historic site and UNESCO World Heritage Site that represents an ancient civilization dating back 5,000 years.
Mohenjo-Daro stands as an embodiment of both Sindh and Pakistan pride, the letter stated. Additionally, its significance as one of the world’s oldest urban settlements was underscored.
The Sindh Department of Culture strongly urges the State Bank of Pakistan (SBP) to reconsider their decision, warning that ignoring such an integral component of country heritage would be disastrous.
The letter demanded proper recognition of Mohenjo-Daro’s global significance and historic legacy.
On September 7, the State Bank of Pakistan (SBP) revealed the winners of its competition to design new currency notes, sparking widespread online discussion and controversy.
One of the winning designs – particularly on the Rs 5,000 note – has come under scrutiny on social media for depicting internationally recognized disputed territories like Jammu and Kashmir region.
While some users saw no issues with depictions of Kashmir being included in an art competition with no official value attached, others saw this event as a potential attempt at normalising Kashmir’s exclusion.
Online criticism was sharp despite the State Bank of Pakistan (SBP)’s announcement that selected designs from local artists will be shared with international designers who will work in collaboration with SBP to select and design new currency series.
SBP reports that international designers will draw inspiration from local submissions while applying their skills and imagination to craft final banknote designs.
Plastic Banknote SBP Governor Jameel Ahmad announced in August that all currency notes would be progressively phased out and eventually eliminated before December 2016.
Senator Saleem Mandviwalla of the Senate Standing Committee on Finance made this statement at a briefing meeting held earlier today.
Ahmad revealed that the state bank is working on unveiling polymer paper notes by year-end.
“We are ready to introduce polymer currency notes,” he stated. “Initially, one denomination will be presented for approval by cabinet.”
Concerning concerns over counterfeit notes, Governor Ma also revealed that advanced security features will be integrated into new polymer notes to stop their counterfeiting. He indicated that the bank is currently assessing durability, cost and long-term viability before moving forward with them.
Mohsin Aziz raised concerns about the Rs5,000 note, suggesting it contributes to corruption and should be discontinued. Ahmad stated there was no plan under consideration to phase it out completely.
“Suggestions were made before, but were rejected,” according to him. The Rs5,000 denomination will become part of the new currency design.
Ahmad underscored the responsibility of law enforcement agencies in preventing misuse of currency notes.