Pakistan Army chief assures business community of economic revival: report

Web Desk 11:05 AM | 8 Mar, 2023
Pakistan Army chief assures business community of economic revival: report
Source: File Photo

ISLAMABAD – Chief of Army Staff General Syed Asim Munir has reportedly assured the country’s top business community members of economic revival, saying the worst is behind us.

The Pakistani media media wing has not shared about the backdoor meeting, but Geo News reported that the top general had a meeting with 10 members, and assured them that “the default threat was over.”

COAS Asim shared views on the regional economic environment and was positive that the economic plights would be overcome, soothing business community members amid the worsening economic crisis. ‘Worst is behind us and we will prevail’, the top general was quoted by the local media outlet.

The reports quoting one of the participants said the businessmen requested the Army chief for the meeting, and Finance Minister Ishaq Dar was invited by Gen Asim to attend the session.

COAS Asim and Ishaq Dar also reportedly apprised businessmen of the revival of bailout funds from the International Monetary Fund (IMF) as Staff-Level Agreement would be secured within days while Pakistan is expected to receive major equity from friendly nations.

When being asked about the armed forces role in promoting harmony, COAS Asim said the army was playing its role and trying to develop harmony in national politics.

Army Chief turns down Imran Khan’s offer for back door meeting

As PTI leader Fawad Chaudhry rejected speculations about former premier Imran Khan's request to meet Chief of Army Staff (COAS) General Asim Munir, a senior anchorperson of Geo News claimed that PTI chief approached the army chief but his request for a meeting was turned down.

COAS Asim told the businessmen that Imran Khan approached him for a meeting but refused to meet the populist leader, saying it was not his job as army chief to meet politicians, per report.

The top military commander reiterated not to meddle in the country’s politics, calling on political leadership to resolve their issues.

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USD to PKR: Pakistani rupee remains stable against dollar as IMF talks underway

ISLAMABAD – Pakistani rupee remained stable against the US dollar as the market is looking for direction amid Pakistan’s ongoing negotiations with the International Monetary Fund (IMF).

Amid the economic uncertainty, the local currency remained unchanged against the greenback, moving up 0.01 percent during the opening hours of trading. Before noon, PKR was hovering at 285.40 in the interbank.

In contrast to the inter-bank, the dollar continued its upward trajectory in the open market and is reportedly available at Rs315, as the gap between the official rate and open market rate is Rs30 per dollar.

As the money market is waiting for a positive development from the economic front, International Monetary Fund (IMF) Mission Chief to Pakistan said they continued engagement with Islamabad focusing on the restoration of foreign exchange proper market functioning, with special on the upcoming budget.

Today's gold rates in Pakistan – May 30 2023

KARACHI - The price of a single tola of 24-karat gold in Pakistan is Rs 232,700 on Tuesday.The price of 10 grams of 24k gold was recorded at Rs199,510.   

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 232,700 PKR 2,500
Karachi PKR 232,700 PKR 2,500
Islamabad PKR 232,700 PKR 2,500
Peshawar PKR 232,700 PKR 2,500
Quetta PKR 232,700 PKR 2,500
Sialkot PKR 232,700 PKR 2,500
Attock PKR 232,700 PKR 2,500
Gujranwala PKR 232,700 PKR 2,500
Jehlum PKR 232,700 PKR 2,500
Multan PKR 232,700 PKR 2,500
Bahawalpur PKR 232,700 PKR 2,500
Gujrat PKR 232,700 PKR 2,500
Nawabshah PKR 232,700 PKR 2,500
Chakwal PKR 232,700 PKR 2,500
Hyderabad PKR 232,700 PKR 2,500
Nowshehra PKR 232,700 PKR 2,500
Sargodha PKR 232,700 PKR 2,500
Faisalabad PKR 232,700 PKR 2,500
Mirpur PKR 232,700 PKR 2,500


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