Security Papers Ltd. manufactures Banknote Paper and other security documents from 100% indigenous raw materials i.e. comber and textile cuttings of the highest quality. It has successfully been meeting the paper requirements of the Pakistan Security Printing Corporation (PSPC) for printing Banknotes, Prize Bonds, Non-judicial Stamp Paper, Share Certificates, etc. and Watermarked Certificate/ degree papers for various educational institutions of Pakistan.
Security Papers Limited (SPL) was established in 1965. It became a joint venture company of Iran, Turkey and Pakistan in 1967, under the protocol of RCD – now ECO – in 1967 . The basic function of the Company was and still is; to manufacture banknote and other security paper.
Brief history of the Company is as under:
- Incorporation of the Company (as a private Company)
- Signing of contract for the supply of Paper Machine-1 (PM-1) with Mills-Paugh, U. K.
- Conversion into public Company
- Listing on the Karachi Stock Exchange
- Start of commercial production of PM-1
- Signing of contract for supply of Paper Machine-2 (PM-2) with Voith Paper,
Germany (Obsolete PM-1 made redundant and scrapped)
- Start of Commercial Production of PM-2
- Formal inauguration of PM-2 by the Prime Minister
- Commissioning of Co-Generation Power Plant
- Modification and upgrading of plant
- Commissioning of new Mould Cover preparation building
- Commissioning of Dry Cleaning Plant
- Commissioning of Thread Unwind System
- Production of Passport Paper
- Installation of Breaker and Beater Assemblies and Stainless Steel Chests
- PM-2 Capacity Enhancement through in-house development of Short Former