History Of PSPC
History
The history of Pakistan Security Printing Corporation (PSPC) is marked by significant milestones that have shaped its evolution into the country’s premier security printing organization.
Establishment and Early Years
- March 10, 1949 – PSPC was established as a joint venture between the Government of Pakistan (60% ownership) and Thomas De La Rue International (UK) (40% ownership).
- 1952 – Printing operations commenced following the construction of PSPC’s first factory.
Expansion & Industrial Growth
- 1965 – The Security Papers Limited (SPL) was established to manufacture banknote paper within Pakistan. This significantly reduced PSPC’s reliance on imported security paper.
- 1982 – A new banknote factory building was constructed, equipped with modern printing machinery. The existing banknote production was shifted to the new facility, enhancing PSPC’s capacity and efficiency.
- 1995 – PSPC reduced its dependence on imported security inks by forming a joint venture with SICPA (Switzerland). This led to the establishment of a local ink manufacturing facility, ensuring high-quality and locally produced security inks for banknote printing.
BMR Projects
PSPC has continually modernized its operation through strategic BMR projects.
- In 2005, two complete production lines including offset, intaglio, letterpress, and cutting/packing machines were installed, enabling a new banknote series and global-standard workflows of that era.
- The 2018–2019 BMR added an intaglio press, cutting & packing machine, and single-note numbering machine, raising capacity to a record 4.2 billion notes per year.
- Most recently, the 2022–2024 BMR introduced an innovative machine that combined three processes (inspection, numbering, and varnishing) and enabled PSPC for digital inspection of high-denomination notes, alongside two cutting-edge intaglio presses replacing older equipment and further boosting operational capability
Modernization & Restructuring
- In 2017, the State Bank of Pakistan (SBP) assumed responsibility for banknote and prize bond printing from PSPC, streamlining national currency management and strengthening security protocols. On May 18, 2017, PSPC and the National Security Printing Company (NSPC) entered into a Business Transfer Agreement, transferring all security printing operations other than banknotes and prize bonds to NSPC, along with a Common Facilities & Cost-Sharing Agreement to support collaborative operations.
- With the formal amalgamation of NSPC into PSPC effective July 1, 2025, all security printing functions have once again been unified under a single organizational entity. This strategic consolidation marks a significant milestone, enhancing PSPC’s operational capacity, improving resource efficiency, and further modernizing its secure printing infrastructure.
- Today, PSPC stands as Pakistan’s premier security printing institution continuously advancing through cutting-edge technology, strengthened capabilities, and an unwavering commitment to excellence in safeguarding the nation’s financial and documentary integrity.
