China wont let anyone derail CPEC, Pakistan must also seize this historic opportunity: Senior Chinese official

Umer Shami 10:08 PM | 2 Nov, 2017
China wont let anyone derail CPEC, Pakistan must also seize this historic opportunity: Senior Chinese official
BEIJING - Pakistan’s economy is at a critical stage of its development and China sincerely hope for Pakistan to seize the chance provided by the CPEC to bring about much-needed progress and prosperity in its economy.

It makes no difference to China as to which party is holding the reins of government and at present Chinese Government is not worried about the ongoing pace of CPEC projects. However, as a sincere friend, China does not want any hindrance to slow down the pace of development and obviously, it keeps a close eye on political developments in Pakistan.

China and Pakistan are determined to complete the CPEC projects in time and no power can thwart the development process already set in motion. CPEC is a major part of One Belt One Road (OBOR) enterprise and is considered a flagship project of this revolutionary initiative. No one will be able to derail this project and its completion will result in huge economic benefits for both China and Pakistan.

These views were expressed by Mr Liu Pengfei, a senior diplomat at the Chinese Foreign Ministry while speaking to a group of senior Pakistani journalists.

Mr Liu Pengfei pose for a group photo with Pakistani journalists at China Foreign Office in Beijing.

Mr Liu further said that China is fully committed to the CPEC project and development of Gwadar Port is an integral part of this scheme. He expressed hope that development of Gwadar Airport and Gwadar Expressway along with other important projects will also start by the end of this year.

“The delay in commencement of these projects was caused due to the change in financing model. Previously these were commercial projects but now Chinese Government is providing soft loans and grants,” he added.

He also said that the purpose of CPEC was to bring more prosperity through economic interconnectivity not only in Pakistan but in the whole region and thus other countries in the region are always welcome to join this initiative.

Mr Liu expressed his satisfaction on the development pace of CPEC and said that out of 50, 19 projects are already in different phases of development with an investment outlay of over $18 billion. He cited the example of Sahiwal Coal Project and said the development pace of this project even surpassed the expectations of Chinese Government.

He praised the steps taken by Punjab Government for completing CPEC projects at such fast speed and hoped that other provinces in Pakistan will replicate the Punjab model. He also said that in some areas of Pakistan, the pace of development of projects is slow due to lack of infrastructure.

He was optimistic that in days to come many backward areas of Pakistan will be able to benefit from the fruits of development. “Pakistan and China are iron brothers, strategic partners, and all-weather friends. Our enhanced economic cooperation will bring economic development and much-needed vibrancy to Pakistan economy and will also benefit China.”

Mr Liu while talking on the Kashmir issue said that Chinese government desire both Pakistan and India to resolve their disputes through dialogue and peaceful negotiations. “Kashmir is a complex issue and stability in the region depends upon relations between Pakistan and India,” he added.

However, he also made it crystal clear that China stands by Pakistan at all times and in every hour of need.

Mr Liu also emphasized the need for enhancing people to people contact between Pakistan and China. “We are neighbours and close friends and should strive to know each other better by exploring each other’s cultures. This will develop true understanding between the people of both the countries”.

Mr Mohammad Mehdi, senior columnist and head of Pakistani delegation expressed his profound regards to the Chinese government for initiating CPEC project and further strengthening the friendship bond between the two nations. He also said that the re-election of President Xi Jingping is considered in Pakistan a very good omen for continued support of CPEC by the Chinese government.

He expressed hope that successful execution of CPEC will bring tremendous benefits to the people of both countries.


KARACHI - Following are the foreign currency exchange rates for US Dollar, Saudi Riyal, UK Pound Sterling, U.A.E. Dirham, European Euro, and other foreign currencies in Pakistan open market on February 4, 2023 (Saturday).

Source: Forex Association of Pakistan. (last update 09:00 AM)

Currency Symbol Buying Selling
US Dollar ‎USD 279.9 283.2
Euro EUR 300.98 301.58
UK Pound Sterling GBP 337.01 337.71
U.A.E Dirham AED 75.14 75.44
Saudi Riyal SAR 73.55 73.85
Australian Dollar AUD 189 192
Bahrain Dinar BHD 712.72 720.69
Canadian Dollar CAD 200 202.2
China Yuan CNY 39.67 39.73
Danish Krone DKK 39.33 39.73
Hong Kong Dollar HKD 34.19 34.54
Indian Rupee INR 3.28 3.39
Japanese Yen JPY 2.5 2.54
Kuwaiti Dinar KWD 878 887
Malaysian Ringgit MYR 62.83 63.43
New Zealand Dollar NZD 173.25 175.25
Norwegians Krone NOK 26.79 27.09
Omani Riyal OMR 696.08 704.08
Qatari Riyal ‎QAR 73.62 74.32
Singapore Dollar SGD 204 206
Swedish Korona SEK 25.61 25.91
Swiss Franc CHF 291.69 294.19
Thai Bhat THB 8.15 8.30

KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs 205,200 on Saturday. The price of 10 grams of 24k gold was recorded at Rs175,930.

Likewise, 10 grams of 22k gold were being traded for Rs167,318 while a single tola of 22-karat gold was being sold at Rs 195,157.

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 205,200 PKR 2,430
Karachi PKR 205,200 PKR 2,430
Islamabad PKR 205,200 PKR 2,430
Peshawar PKR 205,200 PKR 2,430
Quetta PKR 205,200 PKR 2,430
Sialkot PKR 205,200 PKR 2,430
Attock PKR 205,200 PKR 2,430
Gujranwala PKR 205,200 PKR 2,430
Jehlum PKR 205,200 PKR 2,430
Multan PKR 205,200 PKR 2,430
Bahawalpur PKR 205,200 PKR 2,430
Gujrat PKR 205,200 PKR 2,430
Nawabshah PKR 205,200 PKR 2,430
Chakwal PKR 205,200 PKR 2,430
Hyderabad PKR 205,200 PKR 2,430
Nowshehra PKR 205,200 PKR 2,430
Sargodha PKR 205,200 PKR 2,430
Faisalabad PKR 205,200 PKR 2,430
Mirpur PKR 205,200 PKR 2,430


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