50 Rupees

Pick 35 was issued during Zia ul-Haq's military government, at a time when the State Bank was navigating the domestic fallout from the 1970s nationalization wave and a chronic shortage of foreign exchange. The Pakistan Security Printing Corporation had taken over production of the country's currency by this point — a deliberate policy of self-sufficiency after earlier dependence on foreign printers such as Thomas De La Rue.

The watermark remains the only security feature, which made the series a known target for forgery. Several counterfeit variants circulated in the northwestern provinces during the early 1980s, a problem the subsequent redesigned series was specifically intended to address.