State Bank of Pakistan issues Rs 70 commemorative coin

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It is an honor for State Bank to be part of the tribute being paid by the Government of Pakistan by issuing this commemorative coin to celebrate the diplomatic relationship of the two countries

DNA

ISLAMABAD: The diplomatic relationship between Pakistan and China were established on May 21, 1951. To mark the occasion of 70th anniversary of Pakistan-China Diplomatic relations, Government of Pakistan decided to issue a commemorative coin of Rs.70. The State Bank of Pakistan (SBP) launched the commemorative coin in a graceful event today at its Islamabad Office. The honorable Foreign Minister for Pakistan, Mr. Makhdoom Shah Mahmood Qureshi, graced the occasion as chief guest, which was also attended by His Excellency, Mr. Nong Rong, Ambassador of China as the Guest of Honor.

In his welcome address, the Governor State Bank of Pakistan (SBP) Dr. Reza Baqir thanked both the foreign Minister Makhdom Shah Mahmood Qureshi and the Ambassador of China Mr. Nong Rong for their participation in the event. He said that it is an honor for State Bank to be part of the tribute being paid by the Government of Pakistan by issuing this commemorative coin to celebrate the diplomatic relationship of the two countries. He added that both China and Pakistan are cooperating with each other on various fronts for the common good of people of the brotherly countries. He recalled that SBP had issued commemorative coins on founding anniversary of People’s Republic of China, establishment of diplomatic relations between the two countries and on the occasion to mark Pakistan-China Year of Friendship.

Foreign Minister Shah Mahmood Qureshi in his address termed the friendship between Pakistan and China a role model for the rest of the world. He said that with strong diplomatic ties both the countries have endured decades of relationship collectively and stood with each other in the wake of every tribulation. He thanked the visionary leadership of China under President Xi Jinping for conceiving and heavily investing in China Pakistan Economic Corridor (CPEC). He said relations with China has been the cornerstone of Pakistan’s foreign policy.

Ambassador of China to Pakistan, Mr. Nong Rong, in his address said that both the government and people of China love their Pakistani brethren and desire to see the country making progress in every sphere of life. He said both China and Pakistan share same views on all-important international issues.

It may be mentioned that it is the fourth coin of its kind on the subject of Pak-China relations. The first coin of Rs.10 denomination was issued in October 2009, celebrating the auspicious occasion of 60th Anniversary of founding of Peoples Republic of China. The second coin of Rs.20 was issued in May 2011 to celebrate 60th Anniversary of establishment of diplomatic relations between Pakistan and China as Year of Pak-China Friendship – 2011. The third coin was issued in 2015 to mark “Pakistan-China Year of Friendly Exchange 2015.

The coin shall be issued through the exchange counters of SBP Banking Services Corporation from June 11, 2021.  The coin is in round shape milled with serrations on the edge, diameter of 30.00 mm, weight 13 grams and has Cupro-Nickel metal contents (Copper 75% & Nickel 25%).