Pakistan allocates $150 million for COVID-19 vaccine

Web Desk 10:10 PM | 1 Dec, 2020
Pakistan allocates $150 million for COVID-19 vaccine

ISLAMABAD – The federal cabinet on Monday approved funds to the tune of $150 million for the procurement of COVID-19 vaccine.

The approval was given in cabinet meeting with Prime Minister Imran Khan in the chair. In first phase, vaccine shots will be administered to health workers and people over 65 years of age, local media reported.

The allocation has been made at a time when Chinese, Russian and western pharmaceutical firms are announcing encouraging results of their vaccines.

During the meeting, Pakistan Democratic Movement (PDM) Multan rally was also discussed with some ministers raising objection over the strategy of the Punjab government to tackle the rally.

They said that there was no need to arrest opposition leaders and political workers.

The cabinet also gave go-ahead for the immediate implementation of the castration law for rapists and paedophiles, Geo News cited sources as saying.

Members of the Cabinet agreed that there was no need to seek the opinion from international organisations for the castration punishment for those found guilty in sexual abuse. They added that those accused of abusing children and women did not deserve any kindness.

The cabinet also approved privatization of the Pakistan Steel Mills (PSM) and golden handshake to the sacked 4500 employees of the steel mill.

It also agreed on the timely completion of the Naya Pakistan Housing Authority, Ravi Riverfront Urban Development Project in Lahore, as well as the Bundle Island.

It was earlier reported that Pakistan's diplomatic ties with France were expected to be discussed in the cabinet meeting.

Bilateral ties between the countries had been affected ever since Prime Minister Imran Khan hit out at French President Emmanuel Macron over his anti-Islam statements.

The government of Pakistan has since then been under pressure to end ties with the European country and boycott its products.

Web Desk
Web Desk

Daily Pakistan Global Web Desk


ISLAMABAD – Pakistani rupee finally ended its losing streak against US dollar on Tuesday, gaining Rs4.43 after massive depreciation over the last week.

During the intra-day trading, the rupee was hovering at 266.75 with an appreciation of around 1.07 percent as talks between Pakistan and IMF underway for a stalled bailout programme.

Earlier on Monday, the rupee plunged by Rs7 and the greenback touched all-time high of Rs272. Last week, the local currency dropped by Rs24.54 in the interbank market – the largest single-day depreciation in more than two decades.

Finance experts linked the rupee’s recovery to exporters offloading some of their proceeds as remittances and export continued days after dollar cap was removed.

The country of over 220 million is facing a worst economic crisis with the forex reserved held by the country’s central bank remaining at critical $3.68 billion which were not enough to cover a month's import.

KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs205,900 on Tuesday. The price of 10 grams of 24k gold was recorded at Rs176,530.

Likewise, 10 grams of 22k gold were being traded for Rs162,500 while a single tola of 22-karat gold was being sold at Rs 182,100.

Note: The gold rate in Pakistan is fluctuating according to the international market so the price is never been fixed. The below rates are provided by local gold markets and Sarafa Markets of different cities.

City Gold Silver
Lahore PKR 205,900 PKR 2,370
Karachi PKR 205,900 PKR 2,370
Islamabad PKR 205,900 PKR 2,370
Peshawar PKR 205,900 PKR 2,370
Quetta PKR 205,900 PKR 2,370
Sialkot PKR 205,900 PKR 2,370
Attock PKR 205,900 PKR 2,370
Gujranwala PKR 205,900 PKR 2,370
Jehlum PKR 205,900 PKR 2,370
Multan PKR 205,900 PKR 2,370
Bahawalpur PKR 205,900 PKR 2,370
Gujrat PKR 205,900 PKR 2,370
Nawabshah PKR 205,900 PKR 2,370
Chakwal PKR 205,900 PKR 2,370
Hyderabad PKR 205,900 PKR 2,370
Nowshehra PKR 205,900 PKR 2,370
Sargodha PKR 205,900 PKR 2,370
Faisalabad PKR 205,900 PKR 2,370
Mirpur PKR 205,900 PKR 2,370


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