Jahangir Tareen offers to buy sugarcane harvested for halted sugar mills

02:34 PM | 11 Jan, 2018
Jahangir Tareen offers to buy sugarcane harvested for halted sugar mills
ISLAMABAD - Former Pakistan Tehreek-i-Insaf (PTI) secretary general Jahangir Tareen assured the Supreme Court (SC) that he was willing to buy harvested sugarcane from all farmers affected by the suspension of sugar mills.

Jahangir along with five other mill owners extended the offer before a three-member bench of the top court headed by Chief Justice Mian Saqib Nisar currently hearing a petition against a Lahore High Court (LHC) order to relocate three sugar mills that are reportedly owned by the Sharif family.

In the petition, filed last year, farmers and mill owners had urged the court to scrap the LHC's decision arguing that the halting of crushing had affected cane growers since they were unable to sell their harvest.

On Wednesday, the apex court had given Tareen — a defendant in the case — two options: either the cane be processed after a commission is paid to crushers, or that the entire produce is bought by Tareen.

During today's hearing, Tareen and five other mill owners assured the court that they will buy the entire produce on government rates to which the CJP warned that the transactions would be monitored closely by the court.

After Tareen's offer, the affected farmers raised some objections, saying that the businessmen had not specified how they will buy the cane.

Dismissing the objections raised by the farmers, Justice Nisar cautioned them against becoming someone else's "mouthpiece".

"We (the court) gave relief to the cane growers and stopped sugar mills from illegal operations as well," the CJP remarked and clarified that he would listen to cane growers' arguments only when he was sure of their sincerity.

On the other hand, the counsel for Tareen and others, Aitzaz Ahsan assured that the rate of the cane would be determined by the sugar cane commissioner.

The hearing was adjourned until April 18. The CJP said that he will listen to further objections in his chamber.


Pakistani rupee exchange rate to US dollar, Euro, Pound, Dirham, and Riyal - 4 Dec  2023

Pakistani rupee's value remained stable against US dollar, Euro, Pound, Dirham, Riyal and other currencies in the open market.

Dollar Rate in Pakistan Today

On Monday, the US dollar was being quoted at 285.15 for buying and 287.95 for selling.

Euro rate stands at 309.9 for buying and 310.5 for selling. British Pound GBP rate stands at 359.4 for buying, and 360.05 for selling.

UAE Dirham AED currently hovers around 77.45 while rate of Saudi Riyal stands at 75.82.

Today’s currency exchange rates in Pakistan – 4 December 2023

Currency Symbol Buying Selling
US Dollar USD 285.15  287.95 
Euro EUR 309.9  310.5 
UK Pound Sterling GBP 359.4  360.05 
U.A.E Dirham AED 77.45 77.6
Saudi Riyal SAR 75.82 75.97
Australian Dollar AUD 187.72 188.22
Bahrain Dinar BHD 759.94 767.94
Canadian Dollar CAD 209.99 210.49
China Yuan CNY 39.78 39.88
Danish Krone DKK 41.95 42.05
Hong Kong Dollar HKD 36.38 36.48
Indian Rupee INR 3.39 3.5
Japanese Yen JPY 1.49 1.56
Kuwaiti Dinar KWD 926.39 935.39
Malaysian Ringgit MYR 60.38 60.98
New Zealand Dollar NZD 173.44 175.44
Norwegians Krone NOK 26.25 26.55
Omani Riyal OMR 742.16 750.18
Qatari Riyal QAR 78.5 79.2
Singapore Dollar SGD 212.45 212.95
Swedish Korona SEK 27.09 27.19
Swiss Franc CHF 325.38 325.88
Thai Bhat THB 8.05 8.09

Gold prices in Pakistan move down despite positive global cues

The gold remained under pressure as the precious metal moved down despite an upward trend in the international market.

Gold Rates in Pakistan Today - 4 December 2023

On the first day of the week, the price of a single tola of 24-karat gold stands at Rs217,000 and 10 grams of 24k gold costs Rs186,043 

A single tola of 22-karat gold costs Rs170,539, while 21 karat rate for each tola is Rs. 192,325 and the price of 18k gold is Rs164,850.

In the global market, gold prices hover at around $2086, gaining $14.44 on Monday.

Today Gold Rate in Pakistan

City Gold Silver
Lahore PKR 217,000 PKR 2,720
Karachi PKR 217,000 PKR 2,720
Islamabad PKR 217,000 PKR 2,720
Peshawar PKR 217,000 PKR 2,720
Quetta PKR 217,000 PKR 2,720
Sialkot PKR 217,000 PKR 2,720
Attock PKR 217,000 PKR 2,720
Gujranwala PKR 217,000 PKR 2,720
Jehlum PKR 217,000 PKR 2,720
Multan PKR 217,000 PKR 2,720
Bahawalpur PKR 217,000 PKR 2,720
Gujrat PKR 217,000 PKR 2,720
Nawabshah PKR 217,000 PKR 2,720
Chakwal PKR 217,000 PKR 2,720
Hyderabad PKR 217,000 PKR 2,720
Nowshehra PKR 217,000 PKR 2,720
Sargodha PKR 217,000 PKR 2,720
Faisalabad PKR 217,000 PKR 2,720
Mirpur PKR 217,000 PKR 2,720


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