DUBAI – As India is trying to strengthen its hold over the illegally occupied Muslim region of Jammu and Kashmir, it has stepped up the efforts to bring foreign investment into the disputed region, especially from the United Arab Emirates (UAE).
In the latest move, Dubai's ports giant DP World is considering building an inland port in the violence-hit Kashmir where nearly one million Indian troops are trying to suppress the voice of the Kashmiri people who have been demanding the right to self-determination for decades, as promised by the UN resolutions.
Last year, the Indian government had said that Dubai would invest in infrastructure and other projects in the disputed region where tens of thousands of Kashmiris, including women and children, have been killed by Indian occupation forces in fake encounters and door-to-door searches.
Kashmir Lieutenant Governor Manoj Sinha, who is in Dubai this week to promote investment, said DP World would soon visit the 250 acre site earmarked for the inland port facility.
“We will finalize it shortly,” he said, describing the project as a “firm commitment” by the state-owned DP World.
A DP World spokesperson said the company had a “productive meeting” with Sinha this week and that it was preparing a proposal for the project.
The announcement last October that Dubai would invest in the region was the first by any foreign government since Kashmir’s autonomy was revoked in 2019 and the Muslim region was divided into two territories directly ruled by New Delhi.
Emirati newspaper Khaleej Times reported this week that Dubai developer Emaar Properties would build a mall in Srinagar, the main city in the region.`
Lulu Group, a UAE-headquartered company headed by an Indian billionaire, plans to set up a food processing hub there.
But investment in the heavily militarised region is fraught with risk. There are frequent attacks by militants, while the Indian government has faced international criticism for widespread crackdowns there by security forces.
“As far militancy is concerned, we are dealing with it ... and I can assure it will be dealt (with) fully,” said Sinha, who insisted the region was a safe place for foreign investment.
Daily Pakistan Global Web Desk
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 March 27, 2023 (Monday).
Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency | Symbol | Buying | Selling |
US Dollar | USD | 283.1 | 286.15 |
Euro | EUR | 304 | 307 |
UK Pound Sterling | GBP | 345.5 | 349 |
U.A.E Dirham | AED | 77.2 | 78 |
Saudi Riyal | SAR | 75.4 | 76.2 |
Australian Dollar | AUD | 187 | 189.4 |
Bahrain Dinar | BHD | 751.6 | 759.6 |
Canadian Dollar | CAD | 205 | 207.2 |
China Yuan | CNY | 41.44 | 41.84 |
Danish Krone | DKK | 41.31 | 41.71 |
Hong Kong Dollar | HKD | 35.92 | 36.27 |
Indian Rupee | INR | 3.41 | 3.52 |
Japanese Yen | JPY | 2.06 | 2.11 |
Kuwaiti Dinar | KWD | 923.62 | 932.61 |
Malaysian Ringgit | MYR | 62.85 | 63.45 |
New Zealand Dollar | NZD | 177.56 | 179.56 |
Norwegians Krone | NOK | 26.33 | 23.64 |
Omani Riyal | OMR | 731.97 | 739.97 |
Qatari Riyal | QAR | 77.43 | 78.13 |
Singapore Dollar | SGD | 208 | 210 |
Swedish Korona | SEK | 26.5 | 26.8 |
Swiss Franc | CHF | 308.97 | 311.47 |
Thai Bhat | THB | 8.3 | 8.45 |
KARACHI - The price of a single tola of 24-karat gold in Pakistan is Rs 204,800 on Monday. The price of 10 grams of 24k gold was recorded at Rs175,590.
Likewise, 10 grams of 22k gold were being traded for Rs163,624 while a single tola of 22-karat gold was being sold at Rs 190,880.
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 204,800 | PKR 2,470 |
Karachi | PKR 204,800 | PKR 2,470 |
Islamabad | PKR 204,800 | PKR 2,470 |
Peshawar | PKR 204,800 | PKR 2,470 |
Quetta | PKR 204,800 | PKR 2,470 |
Sialkot | PKR 204,800 | PKR 2,470 |
Attock | PKR 204,800 | PKR 2,470 |
Gujranwala | PKR 204,800 | PKR 2,470 |
Jehlum | PKR 204,800 | PKR 2,470 |
Multan | PKR 204,800 | PKR 2,470 |
Bahawalpur | PKR 204,800 | PKR 2,470 |
Gujrat | PKR 204,800 | PKR 2,470 |
Nawabshah | PKR 204,800 | PKR 2,470 |
Chakwal | PKR 204,800 | PKR 2,470 |
Hyderabad | PKR 204,800 | PKR 2,470 |
Nowshehra | PKR 204,800 | PKR 2,470 |
Sargodha | PKR 204,800 | PKR 2,470 |
Faisalabad | PKR 204,800 | PKR 2,470 |
Mirpur | PKR 204,800 | PKR 2,470 |
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