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British Airways to suspend Lahore flight operations

Web Desk 11:33 AM | 13 Jan, 2021
British Airways to suspend Lahore flight operations

LAHORE – British Airways on Tuesday has announced to suspend its flight operations to the provincial capital of Punjab, three months after starting the direct flights.

Taking it to Twitter, the airline made the announcement stating that it will suspend direct flights from Lahore, Pakistan to London Heathrow from April 2021 due to a change in their summer schedule.

“We’ve made a number of changes to our summer schedule, and flights to Lahore will cease in April. Should this route suspension change it will be updated on BA.com,” the airlines wrote in a tweet.

Earlier in October 2020, British Airways had started the direct flights to Lahore. The airline currently operates direct flights from Lahore to London four days a week. The airline already flies every single day from Islamabad.

Web Desk
Web Desk

Daily Pakistan Global Web Desk

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Rupee gains massive recovery against US dollar after SBP relaxes rules for banks

KARACHI – The Pakistani rupee experienced a significant surge in its value in the open market against the dollar.

This surge came after a recent directive from the State Bank of Pakistan (SBP), allowing banks to purchase dollars at the interbank market rate for international card payments. The objective of this move was to narrow the exchange rate gap between the official and informal markets.

According to the Exchange Companies Association of Pakistan, the currency market witnessed the dollar being traded at Rs298, compared to its previous day’s closing rate of 311.

The SBP’s decision was influenced by the International Monetary Fund’s demand for Pakistan to stabilize its currency market before resuming a $6.5 billion bailout program.

In a circular, the central bank stated, “In response to the feedback received from various stakeholders, Authorized Dealers are now permitted to buy USD from the Interbank market to settle card-based cross border transactions with international payment schemes (IPS).”

Market analysts had predicted a decline in the value of the rupee following the implementation of these new guidelines.

Zafar Paracha, the General Secretary of the ECAP, expressed that the SBP’s decision was timely and appropriate. He anticipated that it would lead to a decrease of 20 to 25 rupees in the open market currency rate. Paracha also noted that aligning the rates in the official and informal markets would bolster remittance inflows.

Pracha further emphasized that significant disparities in rates between the official and informal markets encourage transactions outside of the official banking system.

https://en.dailypakistan.com.pk/01-Jun-2023/today-s-currency-exchange-rates-in-pakistan-dollar-euro-pound-riyal-rates-on-june-1-2023

Today's gold rates in Pakistan – June 1, 2023

KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs 230,500 on Thursday. The price of 10 grams of 24k gold was recorded at Rs197,620.   

Likewise, 10 grams of 22k gold were being traded for Rs181,150 while a single tola of 22-karat gold was being sold at Rs 211,290.

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 230,500  PKR 2125
Karachi PKR 230,500  PKR 2125
Islamabad PKR 230,500  PKR 2125
Peshawar PKR 230,500  PKR 2125
Quetta PKR 230,500  PKR 2125
Sialkot PKR 230,500  PKR 2125
Attock PKR 230,500  PKR 2125
Gujranwala PKR 230,500  PKR 2125
Jehlum PKR 230,500  PKR 2125
Multan PKR 230,500  PKR 2125
Bahawalpur PKR 230,500  PKR 2125
Gujrat PKR 230,500  PKR 2125
Nawabshah PKR 230,500  PKR 2125
Chakwal PKR 230,500  PKR 2125
Hyderabad PKR 230,500  PKR 2125
Nowshehra PKR 230,500  PKR 2125
Sargodha PKR 230,500  PKR 2125
Faisalabad PKR 230,500  PKR 2125
Mirpur PKR 230,500  PKR 2125

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