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Historic step – Islamabad-Tehran-Istanbul road corridor becomes operational for trade

Web Desk 05:27 PM | 9 Oct, 2021
Historic step – Islamabad-Tehran-Istanbul road corridor becomes operational for trade

ISLAMABAD – The first two National Logistics Company (NLC) trucks carrying goods from Pakistan reached Turkey via Iran, under the Transports Internationaux Routiers (TIR) convention.

A ceremony was held on Friday at Murat Bey Customs Post in Istanbul to mark the launch of the tri-nation road corridor.  

The NLC trucks departed from Karachi on September 28 and reached Istanbul on October 7 covering a distance of 5300 Kilometers, said an official statement.

Senior officials of the Turkish Ministry of Transport and Infrastructure, Ministry of Trade, Chamber of Commerce & Commodity Exchanges of Turkey (TOBB), International Road Transport Union (IRU), ECO Secretariat, Transport Ministry of the Islamic Republic of Iran, NLC, members and representatives of the Turkish private sector related to transport, and Pakistan Ambassador to Turkey, Muhammad Syrus Qazi accompanied by representatives of Pakistan Embassy and Consulate General participated in the ceremony.

Umberto de Pretto, Secretary General of IRU, based in Geneva, also came to attend this ceremony. All participants hailed the development as a vital step in promoting connectivity and enhancing trade between Pakistan and Turkey.

Ambassador Syrys Qazi in his remarks highlighted the Pakistan's focus on geo-economics and how regional connectivity was crucial in this regard.

He hailed this trial run of NLC trucks as a historic step that will strengthen road connectivity between Pakistan and Turkey and would also help in promotion of bilateral trade.

The ambassador noted that operationalization of this road link will help reduce the cost and time for transportation.

Reviving the Islamabad-Tehran-Istanbul (ITI-ECO) road transport corridor will generate revenue, boost trade and increase economic cooperation among the ECO member states. After this initial successful run, the NLC intends to increase and regularise transport of goods between Pakistan and Turkey, helping to bring the two countries further closer.

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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 February 03, 2023 (Friday).

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

Currency Symbol Buying Selling
US Dollar ‎USD 272.25 273.25
Euro EUR 297.32 297.65
UK Pound Sterling GBP 333.31 333.61
U.A.E Dirham AED 73.03 73.33
Saudi Riyal SAR 71.49 71.80
Australian Dollar AUD 188.9 191.3
Bahrain Dinar BHD 712.73 720.73
Canadian Dollar CAD 200.95 203.15
China Yuan CNY 39.67 40.07
Danish Krone DKK 39.11 39.51
Hong Kong Dollar HKD 34.19 34.54
Indian Rupee INR 3.28 3.39
Japanese Yen JPY 2.5 2.54
Kuwaiti Dinar KWD 877.76 886.76
Malaysian Ringgit MYR 62.83 63.43
New Zealand Dollar NZD 173.25 175.25
Norwegians Krone NOK 26.76 27.09
Omani Riyal OMR 696.08 704.08
Qatari Riyal ‎QAR 73.62 74.32
Singapore Dollar SGD 204 206
Swedish Korona SEK 25.61 25.91
Swiss Franc CHF 291.69 294.19
Thai Bhat THB 8.15 8.3

KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs 212,900 on Friday. The price of 10 grams of 24k gold was recorded at Rs182,530.

Likewise, 10 grams of 22k gold were being traded for Rs167,318 while a single tola of 22-karat gold was being sold at Rs 195,157.

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 212,900 PKR 2,420
Karachi PKR 212,900 PKR 2,420
Islamabad PKR 212,900 PKR 2,420
Peshawar PKR 212,900 PKR 2,420
Quetta PKR 212,900 PKR 2,420
Sialkot PKR 212,900 PKR 2,420
Attock PKR 212,900 PKR 2,420
Gujranwala PKR 212,900 PKR 2,420
Jehlum PKR 212,900 PKR 2,420
Multan PKR 212,900 PKR 2,420
Bahawalpur PKR 212,900 PKR 2,420
Gujrat PKR 212,900 PKR 2,420
Nawabshah PKR 212,900 PKR 2,420
Chakwal PKR 212,900 PKR 2,420
Hyderabad PKR 212,900 PKR 2,420
Nowshehra PKR 212,900 PKR 2,420
Sargodha PKR 212,900 PKR 2,420
Faisalabad PKR 212,900 PKR 2,420
Mirpur PKR 212,900 PKR 2,420

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