KARACHI: On Thursday, the State Bank of Pakistan (SBP) declared that the winning banknote designs from the art competition were not selected for the upcoming series.
Reputable foreign companies chosen through a competitive process are designing the new series as it is being proposed. The firms have until December to submit their concepts, and by January of the following year, the federal government will receive the finalized designs that have been duly approved by the SBP board and can begin the printing process.
The SBP did clarify, nevertheless, that certain members of the public and media had misconstrued the outcomes of the art competition as a list of the candidates for the next banknote series. But the sole purpose of revealing the winners of the art competition was to recognize the artists’ work and provide them with financial rewards.
