10-Rupee Coins Launched in Pakistan: Govt Plans to Phase Out Rs.10 Notes
Pakistan is moving toward a major change in its currency system as 10-rupee coins are set to fully replace Rs.10 paper notes in the coming years. This decision follows a detailed currency management report prepared jointly by the State Bank of Pakistan and the Pakistan Security Printing Corporation, and presented to the federal cabinet by a high-level committee headed by the Finance Minister.
Why Pakistan Is Shifting to 10-Rupee Coins
According to the report, Rs.10 notes have a very short lifespan of only 6 to 9 months, mainly due to heavy circulation and frequent handling. In contrast, a 10-rupee coin can last 20 to 30 years, making it far more durable and economical.
Currently:
- Around 35% of all currency notes printed annually are Rs.10 notes
- Annual printing, replacement, and administrative costs range between Rs. 8–10 billion
By transitioning to coins, Pakistan could save an estimated Rs. 40–50 billion over the next 10 years.
Cost Efficiency & Long-Term Savings
Although the initial production cost of coins is higher, they do not require frequent replacement like paper notes. Over time, coins prove significantly more cost-effective and reduce the burden on the national exchequer.
As a result, the State Bank of Pakistan is expected to gradually phase out the printing of Rs.10 notes over the next three years, following legal procedures outlined in the State Bank Act.
Background of 10-Rupee Coins in Pakistan
Pakistan first introduced 10-rupee coins nationwide on October 24, 2016. Since then, both coins and notes have circulated simultaneously. The current policy aims to complete the transition by gradually replacing paper notes with coins rather than abruptly withdrawing them.
Global Examples Supporting the Move
Pakistan’s decision aligns with international best practices. Countries such as:
- United Kingdom
- Canada
- Australia
have already replaced low-denomination paper notes with coins, resulting in long-term financial and operational savings.
Environmental & Green Banking Benefits
Authorities also highlighted that reducing paper currency printing supports green banking and environmental sustainability. Fewer paper notes mean:
- Lower paper consumption
- Reduced ink and chemical usage
- Less energy spent on frequent printing and transportation
This shift contributes to Pakistan’s broader climate and sustainability goals.
What This Means For the Public
- Rs.10 notes will remain legal tender during the transition period
- 10-rupee coins will become more common in daily transactions
- No immediate action is required from citizens
Over time, coins are expected to fully replace Rs.10 notes, making everyday currency more durable, cost-effective, and environmentally friendly.
Conclusion
The launch and expansion of 10-rupee coins in Pakistan marks a practical and forward-looking reform in currency management. By reducing costs, improving durability, and supporting green initiatives, this move is expected to benefit both the economy and the environment in the long run.
