Tag Archives: SBP

This is How You can Donate Funds for Dams' Construction in Pakistan

This is How You can Donate Funds for Dams’ Construction in Pakistan


Sumera Saeed | category: News

Two Ways To Donate Funds for the Construction of Dams in Pakistan

This is How You can Donate Funds for Dams’ Construction in Pakistan. The water crisis in Pakistan is aggravating and the reports revealed that if water reservoirs are not built Pakistan will have absolute water scarcity by the year 2025. Dams are needed in Pakistan to trounce water shortage and perk up the power generation supply in the country.

The Chief Justice of Pakistan has initiated to donate funds for the construction of two dams for combating water crisis in the country in future.   The Pak Army and the Chief Justice of Pakistan has requested the people of the country to donate funds for the construction of Diamer-Bhasha and Mohmand dams in order to combat the water crises in the country.

Chief Justice of Pakistan, Mian Saqib Nisar has himself donate Rs. 1 Million for the construction of dams and as per the statement of Supreme Court the staff (BS-2o to 15) will donate days’ salary of the current month.

Director General ISPR, Major General Asif Ghafoor also declared that the officers of the army, navy and air force will donate their two day salary for the construction of dams.

The State Bank of Pakistan (SBP) has jumped into the matter and decided to collect more than the required funds from the entire nation for the construction of Diamer-Bhasha and Mohmand dams.

According to the statement issued by the SBP that the below mentioned account is now operational to collect donation. People across Pakistan can donate funds through 16,000 bank branches and ATMs.

How can the people donate for Dams Construction in Pakistan?

Account Title:  DIAMER BASHA AND MOHMAND DAM FUND-2018

Account No: 03-593-299999-001-4

IBN: PK06SBPP0035932999990014

The total amount that the people donate so far  is

Total Amount:   Rs. 91,136,296 (Ninety-one million one hundred thirty-six thousand two hundred ninety-six rupees)

How to donate Via SMS?

The people can also donate funds thorough SMS from their mobile phones. Supreme Court has issued a press release in which stated that the people can also donate for Dams’ construction via SMS.

This is How You can Donate Funds for Dams' Construction in Pakistan

If you want to donate fund of Rs.10 for the construction of Diamer-Bhasha and Mohmand dams for combating the water crises in Pakistan you need to follow the simple procedure below:

User shall type “dam” and send SMS to 8000 and an amount of Rs.10/

You funds will  be  deducted  for  Supreme Court  of  Pakistan  Diamer  Basha  and  Mohmand  Dam  Fund  and  user  will  receive  a  message  “App  Ka  Dus  Rupey  Supreme  Court  of  Pakistan Dam Fund main denay ka Shukria”.

For more information stay in touch with daytimes.pk

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Pakistan’s E-Commerce Market Size Exceeded $600 Million in 2017: SBP Reprts

Pakistan’s E-Commerce Market Size Exceeded $600 Million in 2017: SBP Reports


admin | category: News

Pakistan’s E-Commerce Market Size Exceeded $600 Million in 2017: SBP Reports. The State Bank of Pakistan has released their official numbers showing the actual size of the e-commerce market. Before delving into its analysis, let us first take a look at the numbers in full.

Data Sources

The two primary sources of the data are:

  1. Annual Performance Review (APR) 2016 – 2017 – Payment Systems
  2. First Quarterly Report (FQR) 2017-2018, Special Section 2 – Online Payments Platform
Metric Number Date Range Report
Number of Online Transactions (Prepayment) 1.2 M FY17 APR
Value of Prepayment Transactions (Locally) Rs. 9.8 B[1] FY17 FQR
Value of Prepayment Transactions (Internationally) Rs. 20.7 B FY17 FQR
Ecommerce Merchants (Locally) 571 FY17 APR
USD : PKR 105 30/06/17 Business Recorder

Quick Analysis

Based on the report, we can deduce that, on average, every prepayment order in Pakistan had a basket size greater than Rs. 8,000 and each of the 571 merchants processed about Rs. 17M in prepayment orders on average.

Metric PKR USD
E-commerce Market Size in Pakistan (Prepayment) Rs. 9.8 B $ 93 M
Average Order Size (Prepayment) Rs. 8,167 $ 77.8
Average Revenue per Merchant (Prepayment) Rs. 17.2 M $ 163.5 K

Judging the “Cash on Delivery” Market Size

Not all e-commerce transactions are done through pre-payment. For instance, in the large marketplaces and brand stores, most of the payments are made via cash on delivery terms. To accurately gauge the e-commerce market size, we have to make an assumption on the volume of transactions processed via Cash on Delivery (COD).

Most of the other industry professionals claim that payments made through Cash on Delivery account for about 90% of all e-commerce transactions. However, that figure represents the number of transactions rather than the volume of transactions.

In my analysis, I have found that customers are more likely to pay for higher value orders via prepayment rather than COD. Yayvo, for example, had 76% of its orders below Rs. 1500 paid via COD, while 60% of its orders above Rs. 5000 were paid via prepayment.

Yayvo.com Revenue Breakdown according to Payment Method (2017)
Order Value (PKR) COD Prepayment
0-2500 75.86% 24.14%
2500-5000 57.97% 42.03%
>5000 39.99% 60.01%

 

I still believe that during the Fiscal Year 2017, the market was still very nascent to the idea of prepayment. I would estimate that COD was at minimum 85% of the total market for payments. This means that the e-commerce market size in Pakistan is ~Rs. 65 Billion or ~$620 Million.

Assumption of COD Market Size COD Market Size (PKR) Total Market Size (PKR) Total Market Size (USD)
95% 186.2 B 196.0 B 1.90 B
90% 88.2 B  98.0 B 933 M
85% 55.5 B 65.3 B 622 M
80% 39.2 B 49 B 467 M
70% 22.9 B 32.7 B 311 M

Other Assumptions

Not all e-commerce sites process their online payments in Pakistan. Within the fiscal year ending in 2017 (July 2016 – June 2017), large e-commerce players such as Careem, Uber, and FoodPanda processed their payments via international gateways. Their prepayment revenue is unlikely to be counted within the local e-commerce market size but is counted in the international volume of transactions instead.

I am assuming that there was no duplication of the online acquirers when the State Bank was collecting this data. For example, JazzCash and EasyPay both used the MCB e-Gateway to power their platforms during this period. I am assuming that the State Bank did not count these numbers twice when collecting the figures submitted by EasyPay/JazzCash and MCB respectively. This is especially important given that EasyPay had over 350 merchants and JazzCash over 150 merchants by June 2017, which possibly makes them the largest online acquirer’s in Pakistan.

E-commerce Merchants

According to the State Bank, there are 571 e-commerce merchants in Pakistan. Typically, the e-commerce merchants that come to mind are players such as Daraz.pk and Yayvo.com. We have to dismiss players like FoodPanda, Careem, and Uber because their payments are not processed in Pakistan.

Other large merchants include ticketing platforms such as Pakistan Railway and PIA, amongst others. Pakistan Railway, in its first two months, reported a revenue of Rs. 100M from online sales. In addition, an article in November 2017 stated that UBL had made more than Rs. 1 Billion from online sales through Pakistan railway alone.

Conclusion

The overall e-commerce market size is much bigger than what many industry insiders estimate. After reviewing and examining the numbers, my conclusion is that the e-commerce market size transcended $600M in the 12-months period between July 2016 and June 2017.

I believe the number will be much higher in the current financial year (June 2017 to July 2018). A case in point is Yayvo, which is on course to grow their revenue by at least 3x this year. Therefore, the overall market, even with 2x growth, would rise to approximately $1.2 Billion. This means we will be crossing the $ 1 Billion e-commerce revenue mark two years before the 2020 deadline we had set.

Source URL: http://yayvo.com/blog/pakistans-ecommerce-market-in-2017/

[1]There is a difference in the volume of transactions indicated in the two reports. I will be taking into account the numbers given in the FQR because those stated in the APR are provisional. However, the FQR does not show the number of transactions (my assumption is that they would have risen). Therefore, since the FQR does not give full information, I will use the APR numbers.

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Bitcoin To Be Illegal in Pakistan

Bitcoin To Be Illegal in Pakistan


Sumera Saeed | category: Banking

Bitcoin To Be Illegal in Pakistan. Soon the use of Bitcoin will be illegal in Pakistan. The Federal Investigation Agency (FIA) has suggested the government of Pakistan to announce the digital currency Bitcoin as illegal. FIA has alos suggested that in order to stop the emerging crime in the country the government has to include the definition and distinct punishment in the prevention of electronic crimes act (PECA).

As per the FIA official notification the Bitcoin is not accepted and recognized legal by the State Bank of Pakistan (SBP) and damaging the government exchequer. FIA said that Bitcoin should be declared illegal with the inclusion of definition and distinct punishment of this emerging crime.

SECP Warns People Not To Invest in Bitcoin & Other Crypto Currencies and Starts Crack Down Against Illegal Traders in Pakistan

As State Bank of Pakistan (SBP) has termed the digital currencies illegal. There is no law that shows to deal with Bitcoin or any other digital currencies in Pakistan.

The prevention of electronic crimes act (PECA) was made in 2016 and FIA has suggested more amendments to improve it.

FIA said that crimes under PECA-2016 — other than cyber terrorism [Section.10], offence against modesty of natural person [Section.21] and child pornography [Section.22] — are non-cognizable, bail-able and compoundable.

These following are non-cognizable offences according to PECA-2016, i.e. the Law Enforcement Agencies are allowed to take action against the offensive to initiate the investigation or arrest without the permission of the Magistrate.

Illegal Access /alteration / deletion / intrusion to Critical Infrastructure Information Systems/ Data Section 6, 7, 8]

  •     Electronic Forgery [Section.13]
  •     Electronic Fraud [Section.14]
  •     Unauthorized Issuance of SIM [Section.17]
  •     Tampering of electronic equipment’s [Section. 18]
  •     Cyber Stalking [Section.24]
  •     Spoofing [Section.26]

FIA said that due to the non-cognizable nature of these offences, related to the cyber security of the country is hindering the helpful investigation and successful prosecution against the offenders. Furthermore these crimes are bail-able which harmfully affects the arrest of offender as bail is granted on first physical remand.

These offences are compoundable, which means that at any stage an aggrieved person can enter into conciliation with the accused.

FIA want the timely investigation of these time-critical crimes demands an immediate response by the law enforcement agency to limit and contain the damage caused by offenders. As the timely investigation and apprehension would improve the evidence collection for successful trial.

Via

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SBP’s 10th Cricket Academy to be Inaugurated at Hazru on Jan 25

SBP’s 10th Cricket Academy to be Inaugurated at Hazru on Jan 25


admin | category: News

SBP’s 10th Cricket Academy to be Inaugurated at Hazru on Jan 25. Punjab Minister for Sports Jahangir Khanzada and Head of Cricket Coaching Academies Sports Board Punjab (SBP) Zaheer Abbas will inaugurate the Sports Board Punjab’s 10th cricket coaching academy at Hazru, Attock on January 25, 2018.

The grand inaugural ceremony of cricket academy will be held at Jinnah Stadium, Hazru. It may be noted here that six cricket academies for boys and three for girls have already been established in several cities of the province under the supervision of legendary cricketer Zaheer Abbas, who is also former president of International Cricket Council (ICC).

These cricket academies are being established across the province as per the vision of Chief Minister Punjab Shahbaz Sharif. Expert coaches will impart training to young cricketers at the academy.

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Everything You Need to Know About Pakistan’s First Cryptocurrency Pakcoin

Everything You Need to Know About Pakistan’s First Cryptocurrency Pakcoin


Sumera Saeed | category: Business

Everything You Need to Know About Pakistan’s First Cryptocurrency Pakcoin. Of the few Pakistani gambles in the digital currency we know, Pakcoin is one of them. Pakcoin is the premier digital currency with a special focus on its Pakistani users.

It is first digital currency in Pakistan, actually based on Litecoin and is 1% premined (trading at Rs. 1.45). These premined coins will be used for development and airdrop to Pakistanis.

Pakcoin is the internet currency that permits fast and easy, near-zero cost payments to anyone across the world.

Pakcoin is an open source, international payment network that is completely decentralized without any central authorities.

Pakcoin has been there since two years but come into focus when a hospital (Abid hospital) starts accepting as a mode of payment. Abid hospital is the first hospital in Asia accepting digital currency.

How To Buy Bitcoins In Pakistan?

Who invented Pakcoin?

Mr. Abu Shaheer is actually the man behind Pakcoin invention in the country. He is a computer geek and working in this field for 16 years. He revealed that the idea to invent Pakcoin comes from Auroracoin, an Iceland based digital currency.

He started Pakcoin alone but later one some local and foreigners have joined him in the marketing of Pakistan’s first ever digital currency.

Use of Pakcoin

The use of Pakcoin, though the State Bank of Pakistan (SBP) has declared illegal, but a large number of Pakistanis using it to make global payments.

Regardless of your nationality If you have interest in Pakcoin you are most welcome at www.pakcoin.info.

First 150,000 Pakistanis will get 50 PAK each for Free. If you interested fill Pakcoin address and then fill out the form here to claim your free Pakcoins.

Pakcoin is available at Wallets, Linux and Windows, and soon be made available at Mac Wallet.

How to invest and profit with Pakcoin?

If you are interested to invest and profit with Pakcoin you need to watch the video below:

Hope you will find the above information helpful, if you are interested to buy Pakcoin as an investment, please do so at your own risk.

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APBF Wants Strong Reforms for External Stability as Budget Deficit Reaches 2.3% of GDP

APBF Wants Strong Reforms for External Stability as Budget Deficit Reaches 2.3% of GDP


admin | category: News

APBF wants strong reforms for external stability as budget deficit reaches 2.3% of GDP. APBF: As the country’s budget deficit has reached 2.3% of Gross Domestic Product during July-Nov of fiscal year 2017-18, the All Pakistan Business Forum has stated that the government is deviating from the path of fiscal discipline mainly due to heavy cost of domestic and foreign debt servicing.

APBF President Ibrahim Qureshi said the figures negate the federal government’s claim of reversing the trend of the last fiscal year when the budget deficit peaked to a record high of Rs. 1.86 trillion.

He said that the budget deficit and the current account deficit have become the biggest challenge for the economy, overshadowing the government’s economic performance in other areas. Because of these twin deficits, there are apprehensions that Pakistan might go back to the IMF for yet another bailout package, APBF leader warned.

He said that government should undertake strong reforms to maintain external stability, ensuring debt sustainability and supporting higher economic growth by containing the budget deficit.

He said the present trend shows that the annual budget deficit target of 4.1% of GDP approved by the parliament in June last year has now become unrealistic in just five months due to rising spending on debt servicing, forcing the country to go for more borrowing from the international market.

According to State bank of Pakistan (SBP), the country’s total external debt servicing stood at $2.09 billion during the first quarter of FY18. On principal side, external debt servicing under public debt stood at over $900 million, some $32 million on Public Sector Enterprises (PSEs) guaranteed debt, $53 million on PSEs non-guaranteed debt and around $ 50 million on private non-guaranteed debt. Around $670 million were paid on account of short-term debt servicing. Debt servicing on account of interest includes over $30 million to the IMF, $8 million to Paris Club and $90 million of multilaterals.

Ibrahim Qureshi said that country’s total external debt servicing exceeded $ 2 billion mark during the first quarter of current fiscal year. The decline in the SBP reserves also reflects lower inflows and higher foreign payments. The overall gap between expenditures and incomes has widened to Rs.826 billion during the July-Nov despite the fact that all provinces showed Rs. 150 billion as cash surplus during this period.

He said that the main reason behind this budget deficit is ballooning debt servicing repayments. The domestic and foreign debt servicing has increased to around Rs627 billion during July through November of the current fiscal year.

APBF chief said that the government’s growing reliance on short-term domestic and foreign borrowings has significantly increased the debt servicing cost. The 7% rupee devaluation during last one year would also increase the government’s cost of external debt servicing.

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Forex Reserve in Pakistan Enhance by $2 Billion: SBP

Forex Reserve in Pakistan Enhance by $2 Billion: SBP


Sumera Saeed | category: Banking

Forex Reserve in Pakistan Enhance by $2 Billion: SBP. State Bank of Pakistan (SBP) held the foreign reserves and according to the report the forex reserves increased by the $2 billion because of the large amount received from foreign bonds and Sukuk in the last week.

The State Bank of Pakistan (SBP) has revealed that the total inflows gained from foreign reserves of the country increased to $20.68 billion from $18.68 billion till 8th December, 2017.

The forex reserves detained by SBP stand at $ 14.66 billion while the net foreign reserves seized by commercial and private banks stand at $6.02 billion.

According to SBP the modification in the Forex reserve is which is nearly $2.05 billion due to the profits gains from the Pakistan International Bonds and Pakistan International Sukuk.

The $2.05 billion forex reserves was gained by the 10-year Eurobond which is the 6.875 percent of the sale and gained $1.5 billion amount whereas the $1 billion was detained from the sale of five-year Sukuk at 5.625 percent.

Though, Pakistan has made money of 0.5 billion from external debt servicing and loan repayments to various foreign banks and agencies.

It is worth mentioning here that the forex exchange reserves in Pakistan have touched all-time high level of $23.3 billion in November 2016.

But later on the forex exchange reserves in Pakistan were not been stable in the subsequent months. The forex reserves continuously declined in the later months due to repayment of heavy loans to international lending agencies and different foreign banks.

The forex reserves in Pakistan have reduced by $3.8 billion since January ($22.2 billion) to November ($18.7 billion) in 2017 due to mainly the nonstop outflows of exchange for loan repayment and ballooning import bill.

From January to November 2017 Pakistan has also received money of $550 million from USA in the month of March on the account of Coalition Support Fund (CSF) but its impact was temporary on the forex reserves.

Even though the major inflows of the foreign exchange reserves in the country have been declined from its position as it was in the beginning of 2017. Its reserves declined to $22.2 billion to $20.68 billion as far as this in the closing year.

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SBP Completes Trials Process for Quaid-i-Azam Inter-Provincial Games

SBP Completes Trials Process for Quaid-i-Azam Inter-Provincial Games


Shahid | category: News

SBP completes trials process for Quaid-i-Azam Inter-Provincial Games. Sports Board Punjab (SBP), under the instructions of Secretary Sports Punjab Muhammad Aamir Jan, has completed the trials process of various Punjab teams for second edition of Quaid-i-Azam Inter-Provincial Games at different venues on Friday.

As many as 2055 players took part in trials and 545 have been selected on the basis of outstanding performance for camp training. On Friday, volleyball trials were conducted at Punjab Stadium under the supervision of qualified coaches Azmat Hafeez, MB Javed, Maqsood Khalid and Sibtain. 18 boys out of 45 and equal number of girls out of 35 candidates have been selected for camp training.

It is pertinent to mention that 2055 male and female players featured in trials for 19 games scheduled to be competed in Quaid-i-Azam Inter-Provincial Games being staged at Islamabad from December 25-29, 2017.

Sports Board Punjab conducted trials at several venues in Lahore under the supervision of expert coaches of trials committee. The trials committee followed merit strictly while selecting players for camp training.

After the trials, the selected players will be given modern training at camps. The coaches will put special emphasis on the fitness of players during the camp training. The players who will show excellent performance and fitness during the camp training will be selected in the Punjab teams for Quaid-i-Azam Inter-Provincial Games.

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APBF

Increase in FDI reflects improvement in security situation: APBF


Sumera Saeed | category: Business

As The All Pakistan Business Forum has said that increase in Foreign Direct Investment in FY17 reflects the improvement in security situation, implying that investors had started coming back to Pakistan, as the country has attracted FDI of $ 2.4 billion, up by 4.6 percent during 2016-17.

According to State Bank of Pakistan (SBP), after a very long time FDI has shown an upward trend and rose by 4.6 percent during last fiscal year.

The country fetched $2.41 FDI during July-June of FY17 compared to $2.305 billion in the same period of last fiscal year, depicting an increase of $105.6 million. During the period, FDI inflows were less than FY16, however lower outflow posted some increase in the overall FDI. Net FDI inflows stood at $2.813 billion against the outflow of $403 million in FY17.

Ibrahim Qureshi said that country’s liberal policies of investment offered one of the most attractive investment regimes in the region. He said that Pakistan’s trade with European Union has also increased substantively after the grant of GSP+ status to Pakistan.

APBF president appreciated the government’s resolve to meet the challenges faced by Pakistan in European markets vigorously, suggesting it should devise strategies to promote Pakistani products. He called upon the trade officers to take advantage of opportunities offered by the China-Pakistan Economic Corridor and growth in Pakistan’s national economy made possible by the strengthening of democratic institutions and improvement of the security situation in Pakistan.

Quoting the figures of Central Bank, he said that China topped the contributors to FDI as its investment accounted for about 50 percent. Major inflows were received from Netherlands, Turkey, France and UK during July-June of FY17. China’s total investment in Pakistan stood at $1.23 billion, including $1.186 billion FDI and $48.4 billion Foreign Portfolio Investment (FPI) during FY17.

Ibrahim Qureshi said that despite some increase in foreign investment, the FDI inflows were not sufficient to fully offset the widening in the current account gap. As a result, the country’s liquid foreign exchange reserves declined over $ 1.7 billion during FY17. According to SBP during the period, portfolio investment witnessed downward trend and declined by 66 percent.

APBF president Ibrahim Qureshi said that only political will and drastic steps can revive the economy, which should have grown significantly and constantly for visible impact. He advocated the need for raising the country’s tax base so that tax-to-GDP ratio improves from current 9%.

Besides governance challenges, adverse security perception, political instability and the foreign trade offices role is also vital for the continuity of enhancement in foreign investment, he concluded.

New-Currency-Notes

SBP Branches Code Numbers For Getting New Currency Notes For Eid-ul-Fitr 2017


Sumera Saeed | category: News

We recently reported you that State Bank of Pakistan has launched an SMS service for getting the new currency notes for Eid-ul-Fitr 2017.

The new currency notes will be available at the nominated commercial bank branches called e-branches and all the sixteen offices of SBP and BSC across Pakistan.

The people can get the fresh currency note by using a short SMS code.

The issuance of fresh currency notes for Eid-ul-Fitr 2017 will start on 12th June till 23rd June.

How to Avail SBP SMS Service?

  • Just send SMS to 8877 with your CNIC number and with a branch ID number.
  • Just type CNIC number Space and Branch ID number and send it to 8877.
  • SMS charges are just Rs.1.5+tax.

The list of all branches codes across Pakistan is here. You can find the code of nearest one branch and can type the code into your SMS for getting new currency notes for Eid-ul-Fitr 2017.

 

New-Currency-Notes

SBP Launches SMS Service for Issuance of New Currency Notes For Eid-ul-Fitr 2017


Sumera Saeed | category: News

In collaboration of Pakistan Bank Association (PBA) the State Bank of Pakistan (SBP) has launched an SMS service this Ramazan for the issuance of new currency notes for the people at the occasion of Eid-ul-Fitr 2017.

SBP has re-launched this service after getting tremendous response for the people on the occasion of Eid-ul-Fitr 2015.

The new currency notes will be available at the nominated commercial bank branches called e-branches and all the sixteen offices of SBP and BSC across Pakistan.

The people can get the fresh currency note by using a short SMS code.

The issuance of fresh currency notes for Eid-ul-Fitr 2017 will start on 12th June till 23rd June.

How to Avail SBP SMS Service?

Just send SMS to 8877 with your CNIC number and with a branch ID number.

Just type CNIC number Space and Branch ID number and send it to 8877.

SMS charges are just Rs.1.5+tax.

Note:

When you will go for the having new currency notes must bring the CNIC card and a photocopy of it.

Visit the SBP website or the PBA website for having branches codes number.

State-Bank-Of-Pakistan

State Bank of Pakistan Officially Launched Rs.10 Coin

State Bank of Pakistan Officially Launched Rs.10 Coin


Sumera Saeed | category: News

State Bank of Pakistan Officially Launched Rs.10 Coin

State Bank of Pakistan (SBP) has officially launched the coin of 10 rupees, today on 24th October, 2016. The Rs.10 coin is similar in appearance and color to Rs. 5 coin but it is bit large in size. You can have the further details below about the Rs.10 Coin in Pakistan.

This new 10 rupees coin is yellow in color and round with serrations on the edges and a diameter of 25.5mm. its weight is 5.50gm.

State Bank of Pakistan Officially Launched Rs.10 Coin