Company Profile
About Us
Six Decades of Securing the Nation's Paper
Security Papers Limited (SPL) was established in 1965. In 1967, it became a joint venture of Iran, Turkey, and Pakistan under the protocol of the Regional Cooperation for Development (RCD), now known as the Economic Cooperation Organization (ECO). The primary function of the Company was, and continues to be, the manufacture of banknote paper and other security papers.
Security Papers Limited manufactures banknote paper and other security documents using 100% indigenous raw materials — cotton and high-quality textile cuttings. The Company has been successfully meeting the paper requirements of the Pakistan Security Printing Corporation (PSPC) for the printing of banknotes, prize bonds, non-judicial stamp paper, share certificates, and watermarked certificates/degree papers for various educational institutions across Pakistan.
1965
Incorporation of the Company: The company was established and incorporated as a private company.
1966
PM-1 Contract Signed: A contract was signed with Mills-Paugh, U.K., for the supply of Paper Machine-1 (PM-1).
1967
Conversion into a Public Company: SPL was converted from a private company into a public company.
1967
Listed on the Karachi Stock Exchange. Company shares formally listed for public trading.
1969
Commercial Production of PM-1 Begins. First commercial output from Paper Machine-1.
2001
PM-2 Contract Signed. Contract signed with Voith Paper, Germany for Paper Machine-2. PM-1 made redundant and scrapped.
2003
Commercial Production of PM-2. Paper Machine-2 begins commercial production.
2004
Formal Inauguration of PM-2. Inaugurated by the Prime Minister.
2009
Co-Generation Power Plant Commissioned. In-house power generation capability established.
2011
Plant Modification & Upgrading. Key plant systems modified and upgraded.
2012
Mould Cover Preparation Building. New building commissioned for mould cover preparation.
2014
Dry-Cleaning Plant Commissioned. Enhances paper cleanliness and quality control.
2015
Thread Unwind System Commissioned. Supports security thread integration into paper.
2016
Passport Paper Production Begins. SPL adds passport paper to its product line.
2018
Breaker & Beater Assemblies Installed. Stainless-steel chests and assemblies installed for pulp processing.
2019
PM-2 Capacity Enhancement. Achieved through in-house development of a Short Former.
2020
Highest-Ever Production. SPL records its highest production output to date.
2021
Water Recycling & Sheeter Upgrade. New water recycling plant, Sheeter Machine upgrade, and 3rd Co-Gen plant.
2022
Ballot Watermark Paper Developed. Special watermark paper developed for ballot printing.
(2023)
Ballot & Commemorative Banknote Paper. Production and delivery of ballot paper and commemorative Rs 75 banknote paper.
2024
Waste Water Recovery Enhanced. Capacity enhancement of waste water recovery plant; new RO plant installed.
2025
Solar & Storage Project. Underground storage tank and 350kW solar project commissioned.
Security Papers Limited manufactures banknote paper and other security documents using 100% indigenous raw materials — cotton and high-quality textile cuttings. The Company has been successfully meeting the paper requirements of the Pakistan Security Printing Corporation (PSPC) for the printing of banknotes, prize bonds, non-judicial stamp paper, share certificates, and watermarked certificates/degree papers for various educational institutions across Pakistan.
Six Decades of Securing the Nation's Paper
Security Papers Limited (SPL) was established in 1965. In 1967, it became a joint venture of Iran, Turkey, and Pakistan under the protocol of the Regional Cooperation for Development (RCD), now known as the Economic Cooperation Organization (ECO). The primary function of the Company was, and continues to be, the manufacture of banknote paper and other security papers.
Vision
“To be a nationally and internationally recognized and accepted security paper producing organization, providing highest quality paper to our customers, both in Pakistan and abroad. ”
Mission
“We are the only National Organization in Pakistan producing strategically important security paper products for the nation. We have developed a unique set of strengths and competencies. We wish to build on these assets and will strive continuously to achieve higher levels of excellence.
Our mission is to exceed the expectations of our customers in producing, with security and efficiency, highest quality paper products, employing international best practices and applying an integrated approach to product research and development, manufacturing technology, operations management, counterfeit deterrence, materials procurement, human resource management, financial management and information systems.
Strategic Goals
1. Providing Customer Satisfaction by serving quality products and meeting security paper needs of national and international customers.
2. Ensuring Quality Manufacturing by production of state–of-the-art security paper products with highest quality at lowest cost.
3. Deterring Counterfeiting by producing security paper products that have built-in deterrence against counterfeiting so as to contribute to public confidence and facilitation of commercial transactions.
4. Ensuring Security and Accountability for employees,production facilities and products by developing secure and Accountable system.
5. Expanding Customer Base by exploring new national and international markets and undertaking product research and development in security paper.
6. Ensuring Efficient Resource Management by managing human, financial, technical and infra-structural resources so as to support the above strategic goals and to ensure highest possible value addition to stakeholders.
Core Values
1. Striving for continuous improvement and innovation with commitment and responsibility.
2. Treating stakeholders with respect, courtesy and competence.
3. Practicing highest personal and professional integrity.
4. Maintaining teamwork, trust, and support, with open and candid communication;
5. Ensuring cost consciousness in all decisions and operations.
Journey & Milestones
Governance & Compliance
How Security Papers Limited Operates
From day-to-day functions to the ethical standards and legal registrations behind them — the framework that keeps SPL accountable.
Key Functions
Management is headed by the Chief Executive, who reports to the Board of Directors. Key functions at Security Papers Limited are:
- Production
- Engineering (Electrical, Mechanical, Civil)
- Quality Assurance & Research and Development
- Projects
- Finance and Accounts
- Information Technology
- Internal Audit
- Corporate and Shares
- Human Resource & Administration
- Security
- Supply Chain
Business Conduct Policy
SPL’s code of conduct sets the standard for how every employee is expected to act — on behalf of the Company and in the interest of the nation.
- Maintaining integrity and scrupulous dealings
- Reporting violations
- Maintaining correct books and records of the Company
- Strictly observing the laws of the country
- Strictly avoiding questionable and improper payments, or use of the Company’s assets
- Strictly avoiding conflicts of interest
- Strictly avoiding political contributions
- Expediting payment of dues or liabilities to customers, agents or distributors
- Strictly avoiding giving and receiving of gifts
- Treating means to be as important as ends
Registration & NTN
SPL’s official company registration and national tax identification, on record with the relevant regulatory authorities.
Code OF Ethics
Factory
- Jinnah Avenue, Malir Halt, Karachi – 75100, Pakistan
Registered / Head Office
- Jinnah Avenue, Malir Halt, Karachi – 75100, Pakistan
Pakistan Security Printing Corporation (Pvt.) Limited
( PSPC )
How Security Papers Limited Operates
From day-to-day functions to the ethical standards and legal registrations behind them — the framework that keeps SPL accountable.
Key Functions
Management is headed by the Chief Executive, who reports to the Board of Directors. Key functions at Security Papers Limited are:
Production Floor
Business Conduct Policy
SPL's code of conduct sets the standard for how every employee is expected to act — on behalf of the Company and in the interest of the nation.
Code of Conduct
Registration & NTN
SPL's official company registration and national tax identification, on record with the relevant regulatory authorities.
Registration Record
Jinnah Avenue, Malir Halt,
Karachi – 75100,
Pakistan
Jinnah Avenue, Malir Halt,
Karachi – 75100, Pakistan
Associated Companies
SPL maintains a formal association with the following organization:
Top Companies Award