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‘Pakistan standing at crossroads, PM Shehbaz says as flood-hit country seeking $16bn for recovery

01:14 PM | 9 Jan, 2023
‘Pakistan standing at crossroads, PM Shehbaz says as flood-hit country seeking $16bn for recovery
Source: Screengrab

Prime Minister Shehbaz Sharif apprised the world that Pakistan was standing at a crossroads as he urged the international community to meet the demand required for rehabilitation purposes.

Addressing the inaugural session of International Conference on Climate Resilient Infrastructure in Geneva on Monday, Prime Minister Shehbaz Sharif said that the world was standing at a 'turning point of history'.

He said the current dilemma demands clarity on survival and maintaining our bodies, dignity, and honour by moving forward with a sense of purpose. PM said the world is racing against time.

Recalling the worst monsoon in recent years, PM said the disaster affected 30 million people, displaced more than 8 million and washed away infrastructure on thousands of kilometres. 

He commended support by the United Nations, Asian Development Bank, International Monetary Fund and several other international organisations.

We have learned that nothing can go back to business as usual, PM said. emphasizing the impact of floods that hit Pakistan last year.

The Prime Minister said Pakistani government has prepared a comprehensive framework for recovery, rehabilitation, and reconstruction with resilience which reflects priorities for recovery and reconstruction, and mentioned over 16 billion dollars is needed.

PM added that the funding gap for minimum recovery is $8billion dollars which will be needed over the next three years. He said together we have to rebuild the lives and dreams of flood ravaged people, adding that the international community's solidarity and long-term support for South Asia nation will make a difference at this critical juncture.

He stressed solidarity and vision to ensure the world's transition to a sustainable future not on papers but on the ground.

More to follow...

Daily Pakistan Global Web Desk

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Pakistani rupee exchange rate against US dollar, Euro, Pound and Riyal - 23 February 2024

Pakistani rupee remains stable against US dollar and other currencies in the open market on February 23, 2024 (Friday)

US Dollar rate in Pakistan

In the open market, the US dollar was being quoted at 279.5 for buying and 282.45 for selling.

Euro comes down to 301 for buying and 304 for selling while British Pound rate stands at 351.5 for buying, and 355 for selling.

UAE Dirham AED hovers at 75.95 whereas the Saudi Riyal saw slight increase, with new rates at 74.25.

Today’s currency exchange rates in Pakistan - 23 Feb 2024

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

Currency Symbol Buying Selling
US Dollar ‎USD 279.5 282.45
Euro EUR 301 304
UK Pound Sterling GBP 351.5 355
U.A.E Dirham AED 75.95 76.7
Saudi Riyal SAR 74.25 75
Australian Dollar AUD 181 183
Bahrain Dinar BHD 743.88 751.88
Canadian Dollar CAD 207 209
China Yuan CNY 38.89 39.29
Danish Krone DKK 40.38 40.78
Hong Kong Dollar HKD 35.76 36.11
Indian Rupee INR 3.37 3.48
Japanese Yen JPY 2.1 2.18
Kuwaiti Dinar KWD 908.79 917.79
Malaysian Ringgit MYR 58.60 59.2
New Zealand Dollar NZD 171.68 173.68
Norwegians Krone NOK 26.43 26.73
Omani Riyal OMR 726.53 734.53
Qatari Riyal ‎QAR 76.76 77.43
Singapore Dollar SGD 207 209
Swedish Korona SEK 26.53 26.83
Swiss Franc CHF 317.87 320.87
Thai Bhat THB 7.79 7.94

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