The decision was taken on the recommendation of the Ministry of Finance, according to an official statement released after the cabinet meeting. The new banknotes are expected to include advanced security features designed to make them harder to copy or counterfeit.
In another important decision, the cabinet approved the introduction of coins to replace the existing Rs10 banknotes.
Pakistan and Kuwait Approve Defence Cooperation Agreement
The federal cabinet also approved a defence cooperation agreement between Pakistan and Kuwait. However, the official statement did not provide further details about the agreement.
Cabinet Reviews Administrative Arrangements in Khyber Pakhtunkhwa
The meeting also discussed administrative arrangements in Khyber Pakhtunkhwa following the imposition of emergency measures in the province.
Under the approved arrangement, Governor Faisal Karim Kundi will exercise the powers transferred to him and provide the federal government with a monthly report outlining how those powers are being used.
An advisory council, led by the governor, will also be established to help improve the law and order situation in the province.
Cabinet Ratifies Earlier Committee Decisions
During the meeting, the cabinet also ratified decisions made by the Cabinet Committee on Government-Owned Enterprises on October 26.
It further approved decisions taken during several meetings related to legislative matters.
The latest approvals cover a range of issues, including the country's currency system, defence cooperation with Kuwait and administrative matters in Khyber Pakhtunkhwa.
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