Islamabad, Jan 23: Security Papers Limited (SPL), a key player in the specialized paper industry, recently announced a significant update to its plant facilities. This decision comes in direct response to the State Bank of Pakistan’s (SBP) initiative to introduce a new series of banknotes.
As communicated in their latest stock exchange filing, SPL is preparing for a substantial enhancement of its manufacturing capabilities.
In 2024, SPL had already commissioned advanced paper manufacturing machines. However, the introduction of the new banknote series demands further upgrades to incorporate top-tier international security features.
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These enhancements are essential for producing high-security paper that meets global standards, reinforcing SPL’s commitment to maintaining the integrity of financial security documents.
The company’s board approved the plant upgrade project, expected to take up to 18 months. This move will boost SPL’s production capacity and align operations with global security document standards.
Security Papers Limited, incorporated and domiciled in Pakistan, operates as a public company limited by shares. Its core business revolves around the production and sale of specialized papers, crucial for both banknote security and other non-bank security documents.
This upgrade marks a significant step in SPL’s ongoing efforts to innovate and lead in the security paper market, ensuring that they continue to meet the evolving needs of their clients and regulatory standards worldwide.
