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Presidential award for Pakistani businessman for bringing investment to Equatorial Guniea

12:36 PM | 4 Aug, 2023
Presidential award for Pakistani businessman for bringing investment to Equatorial Guniea

DUBAI – The Republic of Equatorial Guinea has given the Medal of Honour to Dubai-based business tycoon Umar Farooq Zahoor for bringing in direct foreign investment to the country in the tune of over $55 million.
The award has been given to the Pakistani origin businessman by the President of Equatorial Guinea at a ceremony attended by dignitaries from local as well as Middle Eastern countries. Umar Farooq Zahoor is Liberia’s Ambassador-at-Large for Middle East & South East Asia. 
Obiang Nguema Mbasogo, the President of Equatorial Guinea, a country on the west coast of Central Africa, praised the efforts of Umar Farooq Zahoor for bringing investment to the minerals rich country with an area of 28,000 square kilometres and population of nearly 1.5 million. 
The Presidential Office issued a statement saying that Equatorial Guinea and the United Arab Emirates have strong relations that began in 2017 with the construction of a 36-megawatt Diesel power plant. The awards were given at the inauguration and commissioning ceremony that took place on August 2 in the City of Peace, Djibloho.

The President of the Republic, Obiang Nguema Mbasogo, at the ceremony also awarded Commander and Knight medals to Sheikh Ahmed Dalmook Al Maktuum, a member of the ruling family of Dubai.

The Presidential Office said the plant was built in 24 months on BOOT basis with a total cost of 55 million dollars, just over 32 billion CFA francs. 
The statement said: “It has an installed capacity of 36 megawatts spread over a total of 20 1.8-megawatt Caterpillar-brand generator sets, so it could cover the supply of electricity in the provinces of Djibloho, Wele Nzas, Kie Ntem and Central South. It is a plant that will serve as support and relief to the Djibloho Hydroelectric Plant during maintenance work or at times of high demand. For the Minister of Electricity and Renewable Energies, Pelagio Engonga Mba, this investment is a sign of the leadership and political pragmatism of HE Obiang Nguema Mbasogo who intends to develop energy self-sufficiency in the Republic of Equatorial Guinea, especially in the national electricity sector.
The official communication said that Mr Zahoor has played a major role in bringing in the investment and executing it.

Umar Farooq Zahoor, who is based in Dubai, came to prominence around two years ago that Imran Khan’s government registered several fake cases against him to target him in a conspiracy made by Khan’s advisor Shahzad Akbar and Farooq’s former wife Sophia Mirza.

Last year, Umar Farooq Zahoor produced evidence that he had purchased the rare Graff watch – called Toshakhana watch – from former prime minister Imran Khan via Farah Gogi and Shahzad Akbar. Zahoor bought the expensive Graff wristwatch worth at least Rs2 billion and other items given by the Saudi Royal family to the former Pakistan PM. 
He says that adviser to the former premier on accountability Shahzad Akbar had contacted him in 2019 to sell watches, rings and other gifts and said also has evidence to substantiate the claims he was making. He says that he was later blackmailed and fake cases of money laundering were registered against him by the Federal Investigation Agency (FIA) at the behest of Shahzad Akbar after he refused to listen to the demands made by his former wife Sophia Mirza.
Umar Farooq Zahoor has already handed over evidence to the Pakistani authorities and former PM Imran Khan, his wife Bushra Bibi and others have accepted that Umar Farooq Zahoor is the owner of genuine Graff watch.

Daily Pakistan Global Web Desk


PKR exchange rate to US Dollar, Euro, Pound, Dirham, and Riyal - 22 April 2024

Pakistani currency remains largely same against US Dollar and other currencies on April 22, 2024 Monday.

USD to PKR rate today

US dollar was being quoted at 277.5 for buying and 280.5 for selling.

Euro stands at 293 for buying and 296 for selling while British Pound hovers at 342.25 for buying, and 345.65 for selling.

UAE Dirham AED was at 75.20 and Saudi Riyal's new rate was at 73.30. 

Today’s currency exchange rates in Pakistan - 22 April 2024

Currency Symbol Buying Selling
US Dollar USD 277.5 280.5
Euro EUR 293 296
UK Pound Sterling GBP 342.5 346
U.A.E Dirham AED 75.2 75.9
Saudi Riyal SAR 73.3 74.05
Australian Dollar AUD 181 182.8
Bahrain Dinar BHD 740.55 748.55
Canadian Dollar CAD 201 203
China Yuan CNY 38.47 38.87
Danish Krone DKK 39.78 40.18
Hong Kong Dollar HKD 35.53 35.88
Indian Rupee INR 3.33 3.44
Japanese Yen JPY 1.86 1.94
Kuwaiti Dinar KWD 903.11 912.11
Malaysian Ringgit MYR 58.08 58.68
New Zealand Dollar NZD 164.22 166.22
Norwegians Krone NOK 25.61 25.91
Omani Riyal OMR 723.2 731.2
Qatari Riyal QAR 76.45 77.15
Singapore Dollar SGD 204.5 206.5
Swedish Korona SEK 25.31 25.61
Swiss Franc CHF 305.47 307.97
Thai Bhat THB 7.56 7.71


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