SBP decides against issuing new currency notes this Eid
Business
Widening supply-demand gap is probable cause (Image: AP)
ISLAMABAD (Web Desk) – The State Bank of Pakistan (SBP) on Thursday decided against issuing fresh currency notes on the eve of Eidul Fitr.
SBP spokesperson confirmed that the bank would not issue new notes as the supply-demand gap was on the rise fueled by the people's possession of the notes.
The demand for new notes increases on the eve of Eid as people, especially children, are eager to feel the crisp of new notes in their hands. However, this time they will miss an integral part of the joyous occasion.
Eidul Fitr is expected to fall on April 22 this year. The federal government also announced the Eid holidays which would run from April 21 to April 25 (Friday, Saturday, Sunday, Monday and Tuesday).
Earlier, the astronomers had predicted that Eidul Fitr was likely to fall on April 22 in the country. The prediction was based on the occurrence of a solar eclipse that had been set to take place on Thursday, (April 20), starting at 6:30am and ending at 12 noon.
The eclipse would happen on the 29th of the moon date, and the new moon would appear the next day. Astronomers stated that the new moon would not be visible in countries where the solar eclipse occurred on April 20.
