SBP issues coin to mark ‘Marka-e-Haq'
The 30.0 mm and 13.5 grams coin will have features including Metal composition of Nickel-Brass, Cu 79 percent, Zn 20percent& Ni 1 percent.
On the obverse side of the coin, the waxing crescent moon and five-pointed star facing North-West in rising position is in the center. Along with periphery on the top of the crescent star is inscribed in wording 'ISLAMI JAMHURIA PAKISTAN' 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 2025.
The face value of coin in numeral '75' 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 of the coin, wordings 'MARKA-E-HAQ' in Urdu script and '2025' in numeral are inscribed in the center. The wordings 'PAKISTAN HAMESHA ZINDABAD' in Urdu script is written along with the periphery on the top side of the coin. Two Fighter Aircrafts (shown on right & left sides of the coin), one Naval Ship and one Multiple Rocket Launcher System (MRLS) are shown on the reverse side of the coin.
The coin shall be issued through the exchange counters of all the field offices of SBP Banking Services Corporation from August 15, 2025.
Copyright Business Recorder, 2025
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Recorder
an hour ago
- Business Recorder
Modi's tax overhaul to strain finances but boost image amid US trade tensions
NEW DELHI: Indian Prime Minister Narendra Modi's deepest tax cuts in eight years will strain government revenues but are winning praise from businesses and political pundits who say they will bolster his image in an ongoing trade fight with Washington. In the biggest tax overhaul since 2017, Modi's government on Saturday announced sweeping changes to the complex goods and services tax (GST) regime which will make daily essentials and electronics cheaper from October, helping consumers and also companies like Nestle, Samsung and LG Electronics. At the same time, in his Independence Day speech on Friday, Modi urged Indians to use more goods made domestically, echoing calls from many of his supporters to boycott U.S. products after Donald Trump hiked tariffs on imports from India to 50% as of August 27. The tax cut plan comes with costs given GST is a major revenue generator. IDFC First Bank says the cuts will boost India's GDP by 0.6 percentage points over 12 months but will cost the state and federal government $20 billion annually. But it will improve weak stock market sentiment and bring political dividends for Modi ahead of a critical state election in the eastern state of Bihar, said Rasheed Kidwai, a fellow at New Delhi-based Observer Research Foundation. 'GST reduction will impact everyone, unlike cuts to income tax, which is paid by only 3%-4% of the population. Modi is doing this as he is under a lot of pressure due to U.S. policies,' said Kidwai. 'The move will also help the stock market, which is now politically important as it has a lot of retail investors.' Indian PM Modi vows to protect farmers, pushes self-reliance amid Trump tariff tensions India launched the major tax system in 2017 that subsumed local state taxes into the new, nationwide GST to unify its economy for the first time. But the biggest tax reform since India's independence faced criticism for its complex design that taxes products and services under four slabs - 5%, 12%, 18% and 28%. Last year, India said caramel popcorn would be taxed at 18% but the salted category at 5%, triggering criticism about a glaring example of GST's complexities. Under the new system, India will abolish the 28% slab - which includes cars and electronics - and move nearly all of the items under the 12% category to the lower 5% slab, benefitting many more consumer items and packaged foods. India PM Modi vows October cuts to goods and services tax Government data shows the 28% and 12% tax slabs together garner 16% of India's annual GST revenue of roughly $250 billion last fiscal year. 'A brighter gift' and politics Bihar is a key state politically and goes to the polls by November. A recent survey by the VoteVibe agency showed Modi's opposition has an edge largely because of a lack of jobs. 'Any tax cut has wide public appreciation. But of course, the timing is purely determined by political exigencies,' said Dilip Cherian, a communications consultant and co-founder of Indian public relations firm Perfect Relations. 'It seems to be an indication of some mixture of frustration as well as recognition that there is a broad public pushback against high and crippling rates of taxation.' Modi's ruling Bharatiya Janata Party has seized on his tax announcement, posting on X that on the Hindu festival of lights, Diwali, 'a brighter gift of simpler taxes and more savings is waiting for every Indian.' Modi has vowed to protect farmers, fishermen and cattlemen, following Trump's surprise tariff announcement on India, after trade talks between New Delhi and Washington collapsed over disagreement on opening India's vast farm and dairy sectors and stopping Russian oil purchases. The latest round of trade talks between the two nations set for August 25-29 has also been called off.
Business Recorder
4 hours ago
- Business Recorder
Govt prioritising shift to digital, cashless economy: PM Shehbaz
Prime Minister Shehbaz Sharif on Sunday said that the government is working on a priority basis to digitise the economy and transition the transaction system to a cashless and digital model. PM Shehbaz stated this while presiding a review meeting on cashless and digital economy in Islamabad. The prime minister expressed satisfaction over the steps taken and progress made toward a cashless economy. 'The government is working to change the buying and selling system to a cashless system,' he said. Digital payments thriving in Pakistan: Q3 sees 2bn transactions: SBP He instructed all the chief secretaries to fully cooperate with the federal government in taking the Raast system to the district government level. The meeting was briefed on the progress of initiatives toward a cashless economy. According to the briefing, digital IDs will be created through Pakistan Digital Public Infrastructure, which will include each individual's national identity card, biometric data, and mobile phone numbers. These digital IDs will be used for digital payments, the briefing added. The briefing also stated that provincial governments have made significant progress in linking public-to-government and government-to-public payment systems with Raast. Regarding the development of digital infrastructure, the federal development authority has granted right of way for fiber connectivity, while discussions with Pakistan Railways and the National Highway Authority in this regard are ongoing. The meeting was attended by Federal Minister for Finance & Revenue Muhammad Aurangzeb, Federal Minister for Economic Affairs Ahsan Iqbal Cheema, Federal Minister for Information & Broadcasting Attaullah Tarar, Federal Minister for IT & Telecom Shaza Fatima Khawaja, Federal Minister for Petroleum Ali Pervaiz Malik, Prime Minister's Advisor Dr Tauqir Shah, Minister of State for Finance & Railways Bilal Azhar Kayani, and other senior government officials.
Express Tribune
14 hours ago
- Express Tribune
Iqbal urges joint push for $100b exports
Federal Minister for Planning, Development and Special Initiatives, Prof Ahsan Iqbal, on Saturday, called upon the government and private sector to work shoulder to shoulder in achieving an ambitious target of $100 billion in exports under what he termed an "export emergency." Speaking at a ceremony titled Marka-e-Haq and 78 years of Independence Day celebrations – Uraan Pakistan – at the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Iqbal said Pakistan's economic stability hinged upon export-led growth, tax reforms, and foreign direct investment. He stressed that the business community was the main driver of the economy, and the private sector would play a decisive role in steering the country out of past cycles of instability. The minister said eight sectors had been identified as central to Pakistan's export expansion plan, including hospitality, IT, mining, manpower, blue economy, and creative industries. He urged FPCCI to immediately constitute eight joint working groups with the government to prepare actionable strategies in each sector. "Pakistan has faced severe economic crises in the past two years, but today international institutions are recognising our macroeconomic turnaround," Iqbal said. "We have to ensure that this turnaround becomes sustainable by focusing on exports and productivity." Iqbal likened the current phase to Pakistan's "fourth flight," referring to earlier failed attempts at sustained economic take-off. "The success of this Uraan depends on learning from the past three crashes. If we repeat old mistakes, we will fail again. But if we innovate, reform, and stand united, this time Pakistan will truly fly," he remarked. He stressed that Karachi remained the heart of Pakistan's economy, with FPCCI representing industries and businesses that fuel national growth. He further noted that the tax-to-GDP ratio remained among the lowest in the world, underscoring the urgent need to broaden the tax base. State Minister for Religious Affairs and Interfaith Harmony, Kheal Das Kohistani, also addressed the gathering. He praised the business community for its resilience, saying its role was crucial in strengthening Pakistan's economy. FPCCI President Atif Ikram Shaikh assured full support to the government's export-led strategy. He said global institutions' positive reports had boosted confidence in Pakistan's economy and that the private sector would serve as the government's partner in achieving the $100 billion target. "Through research-based policy inputs, FPCCI will continue providing feedback to the government to align strategies with ground realities," Shaikh noted. He added that new opportunities under Public-Private Partnership (PPP) mode would help accelerate growth. Senior Vice President FPCCI Saqib Fayaz and industrialist Bashir Jan Mohammed also underscored the need for closer cooperation between policymakers and businesses to sustain momentum. SM Tanveer, Patron-in-Chief of the United Business Group (UBG), said Pakistan's $40 billion trade deficit could only be addressed through aggressive export promotion. "The solution is export, export, and only export," he declared. Tanveer highlighted FPCCI's role in pushing down electricity tariffs from Rs48 per unit to Rs31 per unit, though he added the struggle was ongoing to bring rates further down to 9 cents (Rs26 per unit). Lowering interest rates from the current 11% to 6-7%, he said, would save the government Rs3,500 billion annually in debt servicing. He urged the government to focus on "district economy," giving local leadership authority over regional economic planning. "Every district in Pakistan can export its own product and earn foreign exchange. Decentralisation will strengthen the economy," he argued. Separately, FPCCI also hosted the PakistanEthiopia Business Council meeting. Ethiopian Ambassador to Pakistan, Jemal Beker Abdula, noted that Ethiopia's economy was growing at 8.2% annually, presenting opportunities for Pakistani exporters. The FPCCI president reaffirmed that under the government's "Look Africa" initiative, Pakistan would increase exports to African markets. "Pakistan and Ethiopia hold immense untapped trade potential, and FPCCI will act as the government's arm in realising it," he said. Chairman of the PakistanEthiopia Business Council, Ibrahim Khalid Tawab, added that African markets, particularly Ethiopia, were highly attractive for Pakistani exports.
