SBP to issue Rs100 commemorative coin to mark 10th anniversary of CPEC

The State Bank of Pakistan (SBP) will issue a Rs100 commemorative coin to mark the 10th anniversary of the China Pakistan Economic Corridor (CPEC), it said on Thursday.

The coin to be issued through the exchange counters of SBP Banking Services Corporation from August 11, 2023.

“The China Pakistan Economic Corridor has contributed greatly to Pakistan’s infrastructure and economic development since its decade of inception in 2013,” the central bank said.

To mark the occasion of the 10th anniversary of the CPEC, the government had decided to issue a commemorative coin of Rs100, it added.

As per details, the coin is in round shape milled with serrations on the edge, diameter of 30.00mm, weight 13.5 grams, and has Cupro-Nickel metal contents (Copper 75% & Nickel 25%).

Over the decade, according to Federal Minister for Planning, Development and Special Initiatives Ahsan Iqbal, Pakistan and China have developed strong bonds in diverse fields and call themselves “iron brothers”.

“Chinese president gave the concept of the CPEC during his visit to Pakistan and subsequently, a memorandum of understanding was signed to implement it,” the minister said speaking on a gathering back in June to mark 10-year celebrations of the CPEC.

China had asked Pakistan to make a roadmap, the country became the largest investor in Pakistan after three years, he added.