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PM Abbasi agrees to provide package for textile sector while expecting enhanced productivity

02:54 PM | 12 Sep, 2017
PM Abbasi agrees to provide package for textile sector while expecting enhanced productivity
ISLAMABAD (Usman Mujib Shami) - The Prime Minister of Pakistan Shahid Khaqan Abbasi agreed to provide a relief package for the expansion of textile exports, expressing hope that the industrial sector brings reforms to compete with regional competitors.

In an exclusive conversation with Daily Pakistan, the premier claimed that the government had largely fulfilled its responsibility regarding the provision of gas and electricity.

"Now the industry needs to perform better," he stated.

Abbasi stated that the multi-billion dollar China-Pakistan Economic Corridor project was the future of Pakistan and it would be completed at every cost.

He maintained that China was playing its role in the development of Gwadar and new airport and power plant were being established at a rapid pace.

The prime minister added that as many as 2,000 acres of land were handed over to China for setting up industries.

To a query regarding the growing debts, the premier disclosed that loans were taken to boost production capacity.

He declared that the rise in the current account deficit was not worrisome as an increment in the import of heavy machinery was the root cause for that.

"If a loan is taken to supplement the volume of the economy, it is helpful for country's progress," added Khaqan Abbasi.

Usman Mujib Shami is the Executive Editor of Daily Pakistan. He did his Masters in international Business from Hult University and his Bachelors from Institute of Business Administration, Karachi.

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Pakistani rupee exchange rate against US dollar, Euro, Pound and Riyal - 29 Feb 2024

Pakistani rupee remains stable against US dollar in the open market on February 29, 2024 (Thursday).

US Dollar rate in Pakistan

In the open market, the US dollar was being quoted at 279.1 for buying and 282.35 for selling.

Euro currently stands at 303 for buying and 306 for selling while British Pound rate stands at 352 for buying, and 355.5 for selling.

UAE Dirham AED hovers at 76 whereas the Saudi Riyal saw slight increase, with new rates at 74.3.

Today’s currency exchange rates in Pakistan - 29 Feb 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 279.1 282.35
Euro EUR 303 306
UK Pound Sterling GBP 352 355.5
U.A.E Dirham AED 76 76.7
Saudi Riyal SAR 74.3 75.1
Australian Dollar AUD 181 183
Bahrain Dinar BHD 743.11 751.11
Canadian Dollar CAD 207 209.2
China Yuan CNY 38.82 39.22
Danish Krone DKK 40.69 41.09
Hong Kong Dollar HKD 35.7 36.05
Indian Rupee INR 3.37 3.48
Japanese Yen JPY 2.1 2.18
Kuwaiti Dinar KWD 907.32 916.32
Malaysian Ringgit MYR 58.49 59.09
New Zealand Dollar NZD 173.05 175.05
Norwegians Krone NOK 26.36 26.66
Omani Riyal OMR 725.68 733.68
Qatari Riyal QAR 76.74 77.44
Singapore Dollar SGD 207 209
Swedish Korona SEK 27.04 27.34
Swiss Franc CHF 317.76 320.26
Thai Bhat THB 7.76 7.91

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