SBP issues commemorative coin

KARACHI: The State Bank of Pakistan (SBP) on Friday issued a commemorative coin of Rs70 to mark the 70th anniversary of diplomatic relations between Pakistan and Germany.

The diplomatic relationship between Germany and Pakistan was established on October 15, 1951.

SBP issued the coin in a ceremony at the SBP’s office in Islamabad, which was also attended by foreign secretary Sohail Ahmed and ambassador of Germany Bernhard Schlagheck.

Talking on the occasion, deputy governor SBP Dr. Murtaza Syed paid tribute to the longstanding friendly relations between the two countries highlighting strong financial and banking connections, which have helped to promote bilateral trade, remittances, and investment.

German ambassador Bernhard Schlagheck expressed his appreciation to the Pakistan’s government and the SBP for the ceremony and noted the design features of the coin. He also remarked on the historic importance of the buildings depicted, the Brandenburg Gate and the Minar-e-Pakistan. Schlagheck noted that Germany and Pakistan have a long history of development cooperation, reflected most recently by the ongoing visit of the Deputy Development Minister of Germany.

Sohail Mahmood highlighted the cooperation between the two countries in diverse fields, including trade and investment, energy, environment, education, science and technology, and defense and security. He noted that Germany is the largest trading partner of Pakistan within the European Union and appreciated the investment made by German institutions in Pakistan.