State Bank of Pakistan has clarified the formal procedure for obtaining new and old currency notes to fulfill the traditional need of “Eidi” on the joyous occasion of Eid-ul-Fitr.
There is a long-standing tradition in Pakistan of elders giving “Eidi” to children after Eid prayers, however, the method of getting new currency notes on Eid-ul-Fitr has come to light. The main objective of this initiative is to facilitate the citizens and prevent illegal sale of notes in the open market and additional charges. As per the instructions issued by the State Bank, citizens can get bundles of new notes through the following steps:
SMS Registration
Write your 13-digit CNIC number from your mobile, give a space and enter the code of your nearest bank branch and send it to 8877.
Verification Code
You will receive a unique transaction code and the address of the bank branch in the reply SMS.
Collection
Citizens should approach the concerned bank branch with their original CNIC and photocopy, where the required notes will be provided after verification.
The central bank has strictly clarified that no additional amount or fee is charged for this service at the official level.
On the other hand, despite government channels, many citizens turn to the open market for convenience or due to exhaustion of quota in banks, where profiteers are charging huge amounts for these notes.
Bundle of Rs 10: A bundle worth Rs 1,000 is being sold in the market for Rs 1,200 to Rs 1,300. Bundle of Rs 50: A bundle worth Rs 5,000 is available for between Rs 5,500 and Rs 6,000.
In Pakistan, the demand for new and crisp notes of Rs 20 and Rs 50 is highest during Eid, as they bring joy to children, with whom they buy toys and sweets of their choice.
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