Islamabad, February 2, 2025 – The Ministry of Finance has officially released policy guidelines for the issuance of commemorative coins in Pakistan, aiming to bring structure and consistency to the process.
The issuance of commemorative coins serves as a way to honor historical events, influential personalities, and national achievements. Over the years, Pakistan has released commemorative coins to mark significant occasions such as birth anniversaries of renowned figures, diplomatic milestones, and historically relevant events. However, the absence of a clearly defined procedure has led to inconsistent decision-making. The newly introduced policy aims to streamline the process, ensuring that all aspects—from the selection of themes to distribution—are handled systematically.
Scope of the Policy
The policy establishes a structured approach, defining the roles and responsibilities of stakeholders involved in the issuance of commemorative coins. It also sets forth a transparent mechanism for selecting individuals, events, or organizations worthy of commemoration.
Categories of Commemorative Coins
The policy divides commemorative coins into two distinct categories:
1. Government-Initiated Commemoratives: The Government of Pakistan may independently decide to issue commemorative coins to celebrate national achievements, important anniversaries, or outstanding contributions by eminent personalities or institutions.
2. Institution-Initiated Commemoratives: Public or private institutions may request the Ministry of Finance to issue commemorative coins for specific events or milestones.
Commemorative Coin Program
General Provisions
• The face value of a commemorative coin shall be no less than Rs.50.
• A maximum of four coins under the first category and two coins under the second category may be issued in any given financial year.
Themes for Commemorative Coins
• Eligible themes include distinguished individuals, historic events, and organizations that have significantly contributed at a national or international level.
• Themes must avoid sectarian or controversial connotations.
• Only birth anniversaries, and not death anniversaries, of eminent personalities will be considered.
• A “Commiserative Coin” may be issued to acknowledge national tragedies.
• Proposals must be submitted at least three months in advance for Cabinet approval, in accordance with the Pakistan Coinage Act, 1906.
Design, Material, and Dimensions
• Pakistan Mint, in consultation with relevant entities, will design the commemorative coins, determining metal composition, denomination, and dimensions.
• Designs must be finalized at least two months before issuance.
Pricing and Distribution
• The State Bank of Pakistan (SBP) will purchase commemorative coins from Pakistan Mint at face value.
• Once officially notified, the SBP will distribute the coins through its designated branches.
• Institutions requesting commemorative coins must ensure promotional efforts to raise awareness regarding the issuance.
• Any unsold stock after five years will be returned to Pakistan Mint for re-melting and recycling.
Evaluation Committee
An Evaluation Committee at the Finance Division will review and recommend whether a proposed commemorative coin should proceed for Cabinet approval. Under special circumstances, the committee may grant exceptions to issuance limits with justifications in writing.
This structured policy ensures that the issuance of commemorative coins follows a transparent and well-regulated framework, enhancing their significance while maintaining fiscal discipline.