State Bank of Pakistan issues Rs50 coin

Coin is being issued through exchange counters of all field offices of SBP Banking Services Corporation from March 17

By
Business Desk
SBP issues Rs. 50 commemorative coin on golden jubilee of Senate. — SBP
SBP issues Rs. 50 commemorative coin on golden jubilee of Senate. — SBP

KARACHI: The State Bank of Pakistan (SBP) on Friday issued a commemorative coin of Rs50 to mark the golden jubilee of the Senate, the upper house of parliament.

The year 2023 marks the golden jubilee of the Senate and the federal government, for celebrating the significant occasion, authorised the central bank to issue Rs50 commemorative coin, a statement from the SBP said.

The Senate of Pakistan is the upper legislative chamber of the bicameral parliament having equal representatives from all provinces of Pakistan and it is constitutionally a permanent house, symbolising a process of continuity in national affairs.

The coin is being issued through the exchange counters of all the field offices of SBP Banking Services Corporation from March 17. The coin is in a round shape milled with a dimension of 30mm, weight 13.5 grams, and has cupro-nickel metal contents with 75% copper and 25% nickel.

On the face of the coin, the waxing crescent moon and five-pointed star facing North West are in a position in the centre, while along the periphery, on top of the crescent star, the words ‘Islami Jamhuria Pakistan’ are inscribed in Urdu script.

Below the crescent and on the top of two springs of wheat with arms curved upward, there is the year of issuance-2023. The face value of the coin in numeral ‘50’ in bold letters and ‘Rupia’ in Urdu script are written on the right and left sides of the crescent star, respectively.

On the reverse side and in the centre of the coin, the insignia of the Senate of Pakistan is shown with the artistic numeral wording of 50 on the right-hand side.

Along with the periphery, the top of the insignia is inscribed with the wording ‘Pakistan Senate Golden Jubilee’ in Urdu script.

The duration of the golden jubilee (1973-2023) is written below the insignia.