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PIA CEO Cyan's appointment illegal, declares Supreme Court

01:01 PM | 3 Sep, 2018
PIA CEO Cyan's appointment illegal, declares Supreme Court
ISLAMABAD - The Supreme Court declared on Monday the appointment of Pakistan International Airlines (PIA) CEO Musharraf Rasool Cyan null and void.

The ruling was issued by a three-member bench, headed by Chief Justice Mian Saqib Nisar, while hearing a case pertaining to the privatisation of the national flag carrier.

Terming his appointment illegal, the bench remarked that Cyan did not meet the requirements to be appointed CEO of the PIA.

Justice Nisar said, during the hearing, said that the matter was referred to the federal cabinet but they have missed the chance.

Justice Ijazul Ahsan remarked that law, as per initial reports, was violated while appointing Cyan, adding that the court was looking into the matter. He added that the then prime minister's adviser on aviation, Sardar Mahtab Abbasi, was involved in his appointment.

CJP Nisar added, “We should look over Cyan’s appointment right now.”

However, PIA's counsel Naeem Bokhari argued, "The Islamabad High Court (IHC) has announced a verdict in the case and sent the matter to the cabinet for taking a decision".

Justice Ahsan questioned, "Was Cyan interviewed by a board before his designation?" He added the PIA CEO has no experience in the aviation field.

To this, the CJP remarked, the national carrier should have qualified and experienced CEO as it is already facing losses.

After hearing the arguments, the apex court declared Cyan's appointment as illegal.

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Pakistani rupee exchange rate to US dollar, Euro, Pound, Dirham, and Riyal - 26 Feb 2024

Pakistani currency remains stable against US dollar in the open market on February 26, 2024 (Monday).

US Dollar rate in Pakistan

In the open market, the US dollar was being quoted at 279.5 for buying and 282.55 for selling.

Euro currently stands at 302 for buying and 305 for selling while British Pound rate stands at 352.5 for buying, and 356 for selling.

UAE Dirham AED hovers at 76.1 whereas the Saudi Riyal saw slight increase, with new rates at 74.35.

Today’s currency exchange rates in Pakistan - 26 Feb 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 279.5 282.55
Euro EUR 302 305
UK Pound Sterling GBP 352.5 356
U.A.E Dirham AED 76.1 76.8
Saudi Riyal SAR 74.35 75.1
Australian Dollar AUD 181 183
Bahrain Dinar BHD 743.88 751.88
Canadian Dollar CAD 207 209
China Yuan CNY 38.89 39.29
Danish Krone DKK 40.38 40.78
Hong Kong Dollar HKD 35.76 36.11
Indian Rupee INR 3.37 3.48
Japanese Yen JPY 2.1 2.18
Kuwaiti Dinar KWD 908.79 917.79
Malaysian Ringgit MYR 58.6 59.2
New Zealand Dollar NZD 171.68 173.68
Norwegians Krone NOK 26.43 26.73
Omani Riyal OMR 726.53 734.53
Qatari Riyal QAR 76.76 77.46
Singapore Dollar SGD 207 209
Swedish Korona SEK 26.53 26.83
Swiss Franc CHF 317.87 320.37
Thai Bhat THB 7.79 7.94

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