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Pence defiant as Democrats insist on removing Trump before Biden's inauguration

Web Desk 05:52 PM | 13 Jan, 2021
Pence defiant as Democrats insist on removing Trump before Biden's inauguration

WASHINGTON – US Vice President Mike Pence gave embattled President Donald Trump a lifeline as he has refuse to invoke 25th Amendment for impeaching the latter, even though the Democrats-controlled US House of Representatives voted thrice calling him to replace the president.

"I do not believe that such a course of action is in the best interest of our nation," Pence wrote in a letter to House Speaker Nancy Pelosi.

Despite Pence refusal to strip Trump of powers just eight days before the completion of his four-year term, impeachment proceedings against the president will begin on Wednesday at 9am (7pm Pakistan time.

Trump is under scrutiny after he was accused of inciting his supporters to carry out a mob attack on the Capitol building on Jan 6. During the first such incident in 200 years history of the US, five people including two policemen lost their lives.

While Pence is defiant, it appear that Trump is losing grip on its party as four Republicans, including a member of the House leadership, said they would vote for impeachment of Trump, who is facing it for the second time since in power.

Three other Republicans, John Katko, Adam Kinzinger and Fred Upton, said they would also vote for impeaching Trump.

Democrats are all but sure to approve impeachment in the House. However, it is unlikely though that the Republican-controlled Senate would be called into an emergency session to conduct trial of Trump before his term runs out on January 20.

According to CNN, Trump has no plan to resign from the position as he has rejected blames for a deadly assault on Congress by his supporters.

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 229,000 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 229,000 PKR 2125
Karachi PKR 229,000 PKR 2125
Islamabad PKR 229,000 PKR 2125
Peshawar PKR 229,000 PKR 2125
Quetta PKR 229,000 PKR 2125
Sialkot PKR 229,000 PKR 2125
Attock PKR 229,000 PKR 2125
Gujranwala PKR 229,000 PKR 2125
Jehlum PKR 229,000 PKR 2125
Multan PKR 229,000 PKR 2125
Bahawalpur PKR 229,000 PKR 2125
Gujrat PKR 229,000 PKR 2125
Nawabshah PKR 229,000 PKR 2125
Chakwal PKR 229,000 PKR 2125
Hyderabad PKR 229,000 PKR 2125
Nowshehra PKR 229,000 PKR 2125
Sargodha PKR 229,000 PKR 2125
Faisalabad PKR 229,000 PKR 2125
Mirpur PKR 229,000 PKR 2125

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