ISLAMABAD – Saudi Arabia weighs augmenting investment programs in Pakistan as the flood-hit nation is facing the worst economic crisis in recent years, Saudi Press Agency reported.
The report said Crown Prince Mohammed bin Salman has directed authorities to study augmenting the Kingdom’s investments in South Asian nation to $10 billion.
SPA said the Saudi de facto ruler has directed Saudi Development Fund to study increasing the amount of the deposit provided by Riyadh in favor of Pakistan’s central bank which was earlier extended on December 2, 2022, to hit $5 billion.
The Crown Prince made directives to affirm the Kingdom's position in supporting the economy of Pakistan and its people, SPA further said, and added that the framework of the existing communication between the Crown Prince and Pakistani premier Shehbaz Sharif.
Saudi Arabia is Studying to Augment its Investments in Pakistan to Reach $10 b and Increasing its Deposit to CBP to $5b, it was Announced.https://t.co/rc9ZBBQfCe#SPAGOV pic.twitter.com/Muxj1GpqoY— SPAENG (@Spa_Eng) January 10, 2023
Last year, Saudi Development Fund extended its term for the $3 billion deposit in State Bank, which was set to mature on December 5. Pakistan also inked an agreement with SFD in 2022 to receive $3 billion, to be deposited in SBP’s account to maintain foreign exchange reserves amid the economic crunch.
Saudi hinted at boosting financial investment, a day after the visit of Pakistan Army Chief General Syed Asim Munir to Saudi Arabia.
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 28, 2023 (Tuesday).
Source: Forex Association of Pakistan. (last update 09:00 AM)
|UK Pound Sterling||GBP||345.5||349|
|Hong Kong Dollar||HKD||35.92||36.27|
|New Zealand Dollar||NZD||178||180|
KARACHI - The price of a single tola of 24-karat gold in Pakistan is Rs 204,300 on Tuesday. The price of 10 grams of 24k gold was recorded at Rs175,160.
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.
|Lahore||PKR 204,300||PKR 2,465|
|Karachi||PKR 204,300||PKR 2,465|
|Islamabad||PKR 204,300||PKR 2,465|
|Peshawar||PKR 204,300||PKR 2,465|
|Quetta||PKR 204,300||PKR 2,465|
|Sialkot||PKR 204,300||PKR 2,465|
|Attock||PKR 204,300||PKR 2,465|
|Gujranwala||PKR 204,300||PKR 2,465|
|Jehlum||PKR 204,300||PKR 2,465|
|Multan||PKR 204,300||PKR 2,465|
|Bahawalpur||PKR 204,300||PKR 2,465|
|Gujrat||PKR 204,300||PKR 2,465|
|Nawabshah||PKR 204,300||PKR 2,465|
|Chakwal||PKR 204,300||PKR 2,465|
|Hyderabad||PKR 204,300||PKR 2,465|
|Nowshehra||PKR 204,300||PKR 2,465|
|Sargodha||PKR 204,300||PKR 2,465|
|Faisalabad||PKR 204,300||PKR 2,465|
|Mirpur||PKR 204,300||PKR 2,465|
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