KARACHI: The State Bank of Pakistan (SBP) spent Rs. 29.6 billion on printing currency notes during fiscal year 2025-26, an increase from Rs. 27.8 billion recorded in the previous financial year.
The expenditure rose by Rs. 1.8 billion, or around 6 percent, during FY26, reflecting the growing cost of maintaining Pakistan’s currency supply.
The increase in printing expenses comes as the amount of currency circulating in the economy continued to expand.
Banknotes in circulation increased by Rs. 1.8 trillion during FY26, taking total currency in circulation to Rs. 12.659 trillion by the end of the financial year.
Rising prices of paper, ink, transportation and other logistical expenses may have also contributed to the higher cost of printing currency notes.
Pakistan’s currency notes are printed by Pakistan Security Printing Corporation (Private) Limited, a wholly owned subsidiary of the State Bank of Pakistan.
The continued increase in currency circulation comes despite the rapid expansion of digital payments across the country.
The SBP has introduced several initiatives to encourage digital transactions, including RAAST, its instant payment system designed to facilitate faster and more accessible digital payments.
The central bank is also expected to face additional printing expenses as new currency notes featuring redesigned security and other features are introduced.
The rising cost of currency production highlights the financial requirements associated with maintaining physical cash circulation even as Pakistan continues to promote digital payment systems.
