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PIA CEO Cyan's appointment illegal, declares Supreme Court

Mahmood Idrees 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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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 5, 2023 (Sunday).

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

Currency Symbol Buying Selling
US Dollar ‎USD 280.9 284.25
Euro EUR 299 302
UK Pound Sterling GBP 335 338
U.A.E Dirham AED 75.14 75.44
Saudi Riyal SAR 73.55 73.85
Australian Dollar AUD 192 194
Bahrain Dinar BHD 712.72 720.72
Canadian Dollar CAD 205 207
China Yuan CNY 39.67 40.07
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 8.3

KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs 205,300 on Sunday. The price of 10 grams of 24k gold was recorded at Rs176,010.

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 205,300 PKR 2,360
Karachi PKR 205,300 PKR 2,360
Islamabad PKR 205,300 PKR 2,360
Peshawar PKR 205,300 PKR 2,360
Quetta PKR 205,300 PKR 2,360
Sialkot PKR 205,300 PKR 2,360
Attock PKR 205,300 PKR 2,360
Gujranwala PKR 205,300 PKR 2,360
Jehlum PKR 205,300 PKR 2,360
Multan PKR 205,300 PKR 2,360
Bahawalpur PKR 205,300 PKR 2,360
Gujrat PKR 205,300 PKR 2,360
Nawabshah PKR 205,300 PKR 2,360
Chakwal PKR 205,300 PKR 2,360
Hyderabad PKR 205,300 PKR 2,360
Nowshehra PKR 205,300 PKR 2,360
Sargodha PKR 205,300 PKR 2,360
Faisalabad PKR 205,300 PKR 2,360
Mirpur PKR 205,300 PKR 2,360

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