Security Papers Limited (SPL) has requested additional time to produce new currency notes, citing the need to upgrade its machinery to meet international standards. The company plans to complete the plant upgrade within 18 months to accommodate the production of banknotes with updated security features.
Established in 1965, SPL specializes in manufacturing security paper solutions, including banknote paper. The company has been integral to Pakistan’s economic and security landscape, delivering high-quality security paper to government organizations, banks, and various businesses.
The decision to upgrade the plant aligns with the State Bank of Pakistan’s initiative to launch a new banknote series incorporating modern security features. The current machinery, installed in 2004, requires modernization to produce security paper for the new banknotes.
SPL’s commitment to enhancing its manufacturing capabilities underscores its dedication to meeting the evolving needs of the financial sector and ensuring the integrity of Pakistan’s currency.
