According to the details, Bahria Town chairman Malik Riaz had earlier announced establishing the world’s third largest mosque in Karachi and the foundation stone of which has been laid now.
The oldest worker of the Bahria Town, Nosherwan laid the foundation stone of the Grand Jamia Masjid. 73-year-old Nosherwan is a labourer who works in the Bahria Town Karachi. The world’s third largest mosque is going to be built on at least 50 acre land. Islamic Jamia, Islamic Research Centre and Islamic Library would also be established alongside the Bahria Town Grand Jamia Mosque. The mosque is being built on the highest mountain of the Bahria Town.
The author is working as Editor Digital Media for Daily Pakistan and can be reached @ItsSarfrazAli.
KARACHI – The Pakistani rupee experienced a significant surge in its value in the open market against the dollar.
This surge came after a recent directive from the State Bank of Pakistan (SBP), allowing banks to purchase dollars at the interbank market rate for international card payments. The objective of this move was to narrow the exchange rate gap between the official and informal markets.
According to the Exchange Companies Association of Pakistan, the currency market witnessed the dollar being traded at Rs298, compared to its previous day’s closing rate of 311.
The SBP’s decision was influenced by the International Monetary Fund’s demand for Pakistan to stabilize its currency market before resuming a $6.5 billion bailout program.
In a circular, the central bank stated, “In response to the feedback received from various stakeholders, Authorized Dealers are now permitted to buy USD from the Interbank market to settle card-based cross border transactions with international payment schemes (IPS).”
Market analysts had predicted a decline in the value of the rupee following the implementation of these new guidelines.
Zafar Paracha, the General Secretary of the ECAP, expressed that the SBP’s decision was timely and appropriate. He anticipated that it would lead to a decrease of 20 to 25 rupees in the open market currency rate. Paracha also noted that aligning the rates in the official and informal markets would bolster remittance inflows.
Pracha further emphasized that significant disparities in rates between the official and informal markets encourage transactions outside of the official banking system.
KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs 229,000 on Thursday. The price of 10 grams of 24k gold was recorded at Rs197,620.
Likewise, 10 grams of 22k gold were being traded for Rs181,150 while a single tola of 22-karat gold was being sold at Rs 211,290.
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.
|Lahore||PKR 229,000||PKR 2125|
|Karachi||PKR 229,000||PKR 2125|
|Islamabad||PKR 229,000||PKR 2125|
|Peshawar||PKR 229,000||PKR 2125|
|Quetta||PKR 229,000||PKR 2125|
|Sialkot||PKR 229,000||PKR 2125|
|Attock||PKR 229,000||PKR 2125|
|Gujranwala||PKR 229,000||PKR 2125|
|Jehlum||PKR 229,000||PKR 2125|
|Multan||PKR 229,000||PKR 2125|
|Bahawalpur||PKR 229,000||PKR 2125|
|Gujrat||PKR 229,000||PKR 2125|
|Nawabshah||PKR 229,000||PKR 2125|
|Chakwal||PKR 229,000||PKR 2125|
|Hyderabad||PKR 229,000||PKR 2125|
|Nowshehra||PKR 229,000||PKR 2125|
|Sargodha||PKR 229,000||PKR 2125|
|Faisalabad||PKR 229,000||PKR 2125|
|Mirpur||PKR 229,000||PKR 2125|
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