I am currently living in Toronto on a PR for the last 10 months. Can I sponsor my sibling for Canadian PR on the basis of my PR and if yes, what is the process to do that and how much time does it roughly take? Thank you.
Then you cannot... as I stated. Meet all the condition.
If your parents are alive, then they "can be sponsored". And thus you cannot sponsor your sibling.
someone related to you if you do not have any other relatives that
can be sponsored (such as a spouse, common-law or conjugal partner, child, parent, sibling, grandparent, uncle or aunt, niece or nephew)