The State Bank of Pakistan (SBP) on Friday issued a Rs50 coin to mark the golden jubilee of the country’s Senate, established in 1973.

“To celebrate this significant occasion, the federal government has authorised SBP to issue a commemorative coin of Rs50,” the SBP said in a statement.

The coin shall be issued through the exchange counters of all the field offices of SBP Banking Services Corporation from March 17, it added.

SBP explained that the Senate of Pakistan or Aiwan-e-Bala Pakistan, constitutionally House of the Federation, is the upper legislative chamber of the bicameral parliament of Pakistan. It has equal representatives from all provinces of Pakistan and is a permanent House, symbolising a process of continuity in national affairs.

The round coin has a dimension of of 30 mm, weighs 13.5 grams and has cupro-nickel metal contents (copper 75% and nickel 25%).

The waxing crescent moon and five-pointed star facing north west is in the center of the obverse face of the coin.

“Along the periphery, on top of crescent star the words ‘Islami Jamhuria Pakistan’ are inscribed in Urdu script,” the SBP said. “Below the crescent and on the top of two springs of wheat with arms curved upward, there is the year of issuance-2023.”

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On the reverse side and in the center of the coin, the Insignia of the Senate of Pakistan is shown with the number 50 on the right hand side with the words ‘Pakistan Senate Golden Jubilee’ in Urdu.

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

Last year, SBP released a commemorative banknote of Rs75 to mark the 75th anniversary of the creation of Pakistan.