Federal Cabinet, chaired by Prime Minister Shehbaz Sharif, approves new currency designs, a Rs10 coin, KP emergency governance arrangements and the Pakistan-Kuwait defence cooperation agreement.
ISLAMABAD: The federal cabinet, chaired by Prime Minister Shehbaz Sharif, on Wednesday approved new designs for Pakistan’s currency notes, the introduction of a Rs10 coin in place of the existing banknote, and the transfer of certain administrative powers to the Khyber Pakhtunkhwa governor during the provincial emergency period.
According to a Prime Minister’s Office press release, the cabinet approved transferring powers currently delegated to the Khyber Pakhtunkhwa chief minister to the provincial governor for the day-to-day administration of the province during the emergency period. The move is aimed at facilitating administrative functions and further improving governance in the province.
Under the decision, the governor will submit a monthly review report to the federal government regarding the exercise of these powers.
The federal cabinet welcomed the decision and expressed hope that the Khyber Pakhtunkhwa Advisory Council, under the leadership of the governor, would make concerted efforts to improve public welfare, promote prosperity and help maintain law and order in the province.
In another major decision, the cabinet approved new designs for Pakistan’s currency notes on the recommendation of the Ministry of Finance.
The meeting was informed that suggestions for the new banknote designs had been invited from artists and designers across the country. A cabinet committee established by the prime minister had also held detailed consultations with all relevant stakeholders before finalising the designs.
According to the briefing, the redesigned currency notes will feature enhanced security features to prevent counterfeiting. Modern materials will also be used to increase the notes’ durability and extend their service life.
The cabinet also approved introducing a Rs10 coin to replace the existing Rs10 banknote. However, the press release did not specify when the redesigned banknotes or the new coin would enter circulation.
The cabinet further ratified the defence cooperation agreement between Pakistan and Kuwait, which was signed on June 11, 2023. The agreement aims to strengthen defence-sector cooperation between the two brotherly countries. The Kuwaiti government had ratified the agreement on July 19, according to the Prime Minister’s Office.
In addition, the federal cabinet endorsed decisions taken by the Cabinet Committee on State-Owned Enterprises (CCOSOEs) at its Oct. 26 meeting.
It also ratified decisions made by the Cabinet Committee for Legislative Cases (CCLC) during meetings held on Jan. 22, Feb. 26, Aug. 5, Aug. 18, Aug. 27, Sept. 11 and Sept. 22.
The decisions cover administrative arrangements in Khyber Pakhtunkhwa, currency modernisation, defence cooperation and the ratification of previous cabinet committee decisions.
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