The State Bank of Pakistan (SBP) has decided that it will not issue fresh notes to general public on the occasion of Eid-ul-Fitr this year. According to an internal memo issued by SBP on 4th May 2020, the decision has been made to ensure implementation of social distancing measures announced by federal and provincial governments. Further, SBP stated that fresh notes shall not be issued to employee and retired employee also.
It’s a cultural tendency among general public in Pakistan that the Eidhi is given to loved ones in fresh notes. Eidhi is a term used for gift, especially on occasion of Eid. However, this wont be possible on this Eid as SBP will not issue fresh notes.
In 2015, the SBP in collaboration with Pakistan Banks’ Association (PBA) launched a flagship program for issuance of Fresh notes to general public through a Mobile SMS service. Under this facility, a person sends an SMS containing his/her CNIC number along with the bank branch code to 8877. In return, the person gets SMS with a transaction code, branch address and transaction validity date. The person has to visit the concerned branch along with original CNIC.
During the last Eid-ul-Fitr season, SBP had issued fresh notes worth of Rs. 360 billion, including Rs. 61 billion of Rs.100 and below denominations, via cash counters of banks and SMS service (8877) to general public. Out of Rs.61 billion, Rs. 54 billion were issued through the SMS service. More than 3 million people availed this facility during the last year.
