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ADB approves $100m loan to address Balochistan’s water shortage

Web Desk 06:11 PM | 3 Sep, 2018
ADB approves $100m loan to address Balochistan’s water shortage
ISLAMABAD - The Asian Development Bank’s (ADB) on Monday approved a $100 million loan to address chronic water shortages and increase earnings on farms in southwestern Pakistan province of Balochistan.

The Balochistan Water Resources Development Sector Project will focus on improving irrigation infrastructure and water resource management in the Zhob and Mula river basins, the ADB said in a statement.

“Agriculture is the backbone of Bolochistan’s economy,” said ADB Principal Water Resources Specialist Yaozhou Zhou. “This project will build irrigation channels and dams, and introduce efficient water usage systems and practices, to help farmers increase food production and make more money,” he added.

Among the infrastructure that will be upgraded or built for the project is a dam able to hold 36 million cubic meters of water, 276 kilometers of irrigation channels and drainage canals, and facilities that will make it easier for people, especially women, to access water for domestic use.

In total, about 16,592 hectares (ha) of land will be added or improved for irrigation.

The project will protect watersheds through extensive land and water conservation efforts, including planting trees and other measures on 4,145 ha of barren land to combat soil erosion.

Part of the project’s outputs are the pilot testing of technologies such as solar-powered drip irrigation systems on 130 ha of agricultural land, improving crop yields and water usage on 160 fruit and vegetable farms and demonstrating high-value agriculture development.

The project will also establish a water resources information system that will use high-level technology such as satellite and remote sensing to do river basin modelling and identify degraded land for rehabilitation.

ADB will also administer grants from the Japan Fund for Poverty Reduction (JFPR) and the High-Level Technology Fund (HLT Fund) worth $3 million and $2 million, respectively, for the project.

A separate $2 million technical assistance from JFPR will help Balochistan’s provincial government improve its institutional capacity to address the risks and potential impact of climate change in the agriculture sector, as well as build a climate-resilient and sustainable water resources management mechanism in the province.

JFPR, established in May 2000, provides grants for ADB projects supporting poverty reduction and social development efforts, while the HLT Fund, established in April 2017, earmarks grant financing to promote technology and innovative solutions in ADB projects.

ADB said it is committed to achieving a prosperous, inclusive, resilient and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty.

Established in 1966, it is owned by 67 members of which 48 are from the region. In 2017, ADB operations totaled $32.2 billion, including $11.9 billion in co-financing.

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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 January 26, 2023 (Thursday).

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

Currency Symbol Buying Selling
US Dollar ‎USD 237.55 240.15
Euro EUR 272.5 275
UK Pound Sterling GBP 308.5 311.5
U.A.E Dirham AED 68 68.6
Saudi Riyal SAR 66.4 67
Australian Dollar AUD 176 178
Bahrain Dinar BHD 615.68 620.18
Canadian Dollar CAD 186 188
China Yuan CNY 34.12 34.37
Danish Krone DKK 33.83 34.18
Hong Kong Dollar HKD 29.52 29.87
Indian Rupee INR 2.81 2.89
Japanese Yen JPY 2.5 2.54
Kuwaiti Dinar KWD 756.69 761.69
Malaysian Ringgit MYR 52.59 53.04
New Zealand Dollar NZD 148.33 149.53
Norwegians Krone NOK 22.43 22.73
Omani Riyal OMR 600.37 604.87
Qatari Riyal ‎QAR 63.5 64
Singapore Dollar SGD 178 179.3
Swedish Korona SEK 21.78 22.08
Swiss Franc CHF 250.23 251.98
Thai Bhat THB 6.98 7.08

KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs190,900 on Thursday. The price of 10 grams of 24k gold was recorded at Rs163,670.

Likewise, 10 grams of 22k gold were being traded for Rs150,300 while a single tola of 22-karat gold was being sold at Rs 173,200.

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 190,900 PKR 2,100
Karachi PKR 190,900 PKR 2,100
Islamabad PKR 190,900 PKR 2,100
Peshawar PKR 190,900 PKR 2,100
Quetta PKR 190,900 PKR 2,100
Sialkot PKR 190,900 PKR 2,100
Attock PKR 190,900 PKR 2,100
Gujranwala PKR 190,900 PKR 2,100
Jehlum PKR 190,900 PKR 2,100
Multan PKR 190,900 PKR 2,100
Bahawalpur PKR 190,900 PKR 2,100
Gujrat PKR 190,900 PKR 2,100
Nawabshah PKR 190,900 PKR 2,100
Chakwal PKR 190,900 PKR 2,100
Hyderabad PKR 190,900 PKR 2,100
Nowshehra PKR 190,900 PKR 2,100
Sargodha PKR 190,900 PKR 2,100
Faisalabad PKR 190,900 PKR 2,100
Mirpur PKR 190,900 PKR 2,100

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