What Pakistan Security Printing Corporation does

Pakistan Security Printing Corporation (PSPC) is a government-owned security printing entity headquartered in Karachi, Pakistan, at Jinnah Avenue, Malir Halt. Established on March 10, 1949 as a joint venture between the Government of Pakistan and M/s Thomas De La Rue International of UK, PSPC has operated as the country's domestic security printing platform for over 75 years. The company supports the State Bank of Pakistan's currency management policy by producing banknotes and prize bonds from printing to packing, adhering to required denomination specifications, delivery schedules set by SBP-BSC, and SBP's Clean Note Policy.

PSPC's core technology spans banknote printing and packaging, security ink manufacturing, and security paper production. The company is vertically integrated through two key affiliated entities: Security Papers Limited (SPL), established in 1965 and of which PSPC is the largest shareholder, which manufactures security paper domestically; and a 1995 joint venture with SICPA (Switzerland), a leading global security inks manufacturer, which produces banknote inks domestically. Both moves eliminated dependence on imported specialty inputs. The State Bank of Pakistan subsequently acquired PSPC's banknote and prize bond printing facility, with a new entity NSPC formed to handle other security printing needs of the country.

PSPC operates as a Business-to-Government (B2G) entity serving the State Bank of Pakistan and Government of Pakistan as its sole material customer base. Revenue mechanics are tender-based and not publicly disclosed; pricing operates under government procurement regulations via the E-PAD Electronic Procurement and Disposal System. The company employs 501-1,000 people, holds ISO certifications (ISO 9001 quality management, ISO 27001 information security), and is led by Managing Director Arshad Mehmood Bhatti with a board chaired by the Governor of SBP. Geographic scope is single-country (Pakistan) with no disclosed international expansion.

Name

Pakistan Security Printing Corporation

Legal name

Pakistan Security Printing Corporation (Pvt.) Ltd.

Website

https://pspc.gov.pk

Company type

Private

Founded year

1949

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Pakistan Security Printing Corporation is a government-owned security printing entity that produces banknotes and prize bonds for the State Bank of Pakistan. Established in 1949, it operates with vertical integration through subsidiary Security Papers Limited and a SICPA joint venture.

Ownership category

akta.pro rank

Headquarters

HQ city

Karachi

HQ country

Pakistan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Infrastructure, Supply Chain, Technology or R&D

Revenue model

1. Banknote Printing Services: PSPC supports the State Bank of Pakistan in currency management by producing banknotes from printing to packing according to required indent and specification of denominations, with delivery as per schedule provided by SBP-BSC.
2. Prize Bond Printing: Printing of prize bonds for the Government of Pakistan as part of security printing operations.
3. Other Security Printing: Following restructuring where State Bank acquired banknote and prize bond printing, NSPC was formed for other security printing needs of the country.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

PSPC is a government-owned security printing corporation that prints banknotes, prize bonds, and other secure documents for the State Bank of Pakistan and Government of Pakistan. Through its subsidiary Security Papers Limited (SPL) and a joint venture with SICPA, PSPC also manufactures security paper and security inks domestically. The company operates end-to-end production from printing to packing, adhering to SBP's Clean Note Policy and quality specifications.

Product overview

Pakistan Security Printing Corporation (PSPC) operates as a platform of security printing services, with its core offerings being banknote printing and prize bond printing for the State Bank of Pakistan. The company provides end-to-end security printing from printing to packing, adhering to Clean Note Policy and quality specifications. PSPC's portfolio includes multiple affiliated brands: Security Papers Limited (SPL) for security paper manufacturing, and a joint venture with SICPA for specialized banknote inks. NSPC handles other security printing needs of the country.

Differentiator

Problem solved

Functional benefit

Products and services

• Banknote Printing Services Security printing services for Pakistani currency, ensuring production of banknotes as per required indent and specification of denominations, from printing to packing, in adherence to State Bank of Pakistan's Clean Note Policy and quality specifications.
• Prize Bond Printing Services Security printing services for prize bonds issued by the Government of Pakistan, produced from printing to packing per required specifications and delivery schedules as part of SBP's currency management policy support.
• Security Printing (NSPC) General security printing services for various government documents and securities, covering other security printing needs of the country through the NSPC entity formed after SBP's acquisition of banknote/prize bond printing from PSPC.
• Security Papers Manufacturing (SPL Subsidiary) Manufacturing of security paper used in currency and security document production, operated through subsidiary Security Papers Limited (SPL) of which PSPC is the largest shareholder, providing vertical integration in security paper supply.
• Security Ink Manufacturing (SICPA Joint Venture) Manufacturing of security inks used in banknote printing, operated through a joint venture between PSPC and SICPA (Switzerland), providing domestic security ink production capability for currency printing operations.

Named customers2 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Four partnerships are on record, tiered core.

• SICPA (Switzerland)coreStrategic or Co-development Partner · 1 January 1995Joint venture between PSPC and SICPA (Swiss company) established in 1995 to manufacture security inks for banknote printing domestically. This reduced PSPC's dependence on imported inks.
• Security Papers Limited (SPL)coreStrategic or Co-development Partner · 1 January 1965PSPC is the largest shareholder of Security Papers Limited (SPL), established in 1965. The creation of SPL removed PSPC's dependence on imported security paper, providing vertical integration.
• Thomas De La Rue International (UK)coreStrategic or Co-development Partner · 10 March 1949Original joint venture partner for establishment of PSPC. Thomas De La Rue International of UK partnered with Government of Pakistan to establish the security printing corporation on March 10, 1949.
• State Bank of PakistancoreStrategic or Co-development PartnerState Bank of Pakistan acquired Banknote and Prize Bond printing facility from PSPC. SBP-BSC provides production schedules and specifications that PSPC follows for currency management support.

Scale indicators3 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• De La Rue: De La Rue is the original UK joint-venture partner that helped establish PSPC in 1949 and is one of the world's largest commercial banknote and security printers. Directly comparable as a global incumbent security printer serving central banks.
• Giesecke+Devrient: German-headquartered global security technology and banknote printer serving central banks and governments worldwide. Comparable as a broad incumbent in currency and security document printing.
• Crane Currency: US-based supplier of banknote substrate and security features used by central banks globally. Comparable as a specialized incumbent in the security printing supply chain that PSPC also operates in via SPL.
• Oberthur Fiduciaire: French commercial banknote and security document printer serving central banks globally. Directly comparable as a commercial competitor in the same banknote printing category as PSPC.

Emerging players

• CCL Secure: Australia-based manufacturer of security substrates for banknotes, passports and identity documents. Comparable as an emerging specialist player in the same security printing substrate niche that SPL serves.

Direct peers

• SICPA: Swiss security ink manufacturer and PSPC's joint-venture partner since 1995 for banknote inks. Directly comparable as a security ink specialist operating in the same security printing value chain.

Regional players

• China Banknote Printing and Minting Corporation: Chinese state-owned banknote and security printing corporation serving the People's Bank of China. Comparable as a regional state-owned security printer with monopoly status over its domestic currency.
• Security Printing and Minting Corporation of India: Indian government-owned security printer producing banknotes, passports, and stamps for the Reserve Bank of India. Directly comparable as a regional state-owned peer with similar mandate and customer base.

Others

• Leonhard Kurz Stiftung: German specialist in security foils and printing features used in banknotes and identity documents. Comparable as an upstream supplier of security features that overlap with PSPC's printing capabilities.
• BNP Paribas Securities Services (Currency Services): While not a direct printer, large financial institutions support the currency lifecycle that PSPC's products feed. Used here as an adjacent ecosystem player rather than a direct competitor.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks4 records

Key highlights5 records

Customer concentration

• LinkedInlinkedin.com/company/pakistansecurityprintingcorporation

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about Pakistan Security Printing Corporation