ISLAMABAD – The federal cabinet is weighing options to replace Rs10 banknote with a coin to save billions in currency management costs over the next decade.

The plan emerges from detailed monetary operations report compiled by the State Bank of Pakistan and the Pakistan Security Printing Corporation, which was scrutinized by a high-powered committee led by the finance minister.

According to the report, the ten-rupee note is shockingly short-lived, surviving only six to nine months in circulation before needing replacement. In contrast, a coin of the same value can endure for a staggering 20 to 30 years, practically outliving generations of banknotes. Currently, these tiny notes account for roughly 35 percent of all currency printed annually, racking up estimated production and administrative expenses of Rs. 8–10 billion every year. If Pakistan makes the switch to coins, officials claim the country could pocket savings of Rs. 40–50 billion over ten years.

Yes, coins cost more to produce initially, but their extraordinary lifespan makes them far cheaper in the long run. The central bank is reportedly planning a phased withdrawal of the ten-rupee note over the next three years, following all legal procedures. The idea is not unprecedented — nations such as the United Kingdom, Canada, and Australia have already ditched low-value notes in favor of coins, citing similar cost benefits and durability.

Pakistan is also flirting with a broader currency makeover. Redesigned notes ranging from Rs10 to a whopping Rs5,000 are under consideration, following recommendations from the central bank. Governor Jameel Ahmad disclosed that new designs featuring advanced security measures have already been completed and submitted for government approval after clearance from the bank’s board. These upgrades aim to thwart counterfeiters and modernize the nation’s cash system.

The final verdict rests with the federal cabinet. No rollout date has been announced, and existing currency will remain legal tender even if new designs are introduced. Social media rumors suggesting that the Rs5,000 note is being withdrawn have been flatly dismissed as false. High-denomination notes, officials insist, remain a crucial part of Pakistan’s currency ecosystem, which currently totals around Rs11 trillion in circulation.