ISLAMABAD – A top government official has revealed the nearly $10 billion pledges made by the international community at a donors’ conference at the Geneva moot for rehabilitation of flood-hit Pakistani people last week are, in fact, loans to be rolled out within three years.
Planning Ministry Secretary Syed Zafar Ali Shah said most of them are project loans, which will be provided at one percent interest rate, adding that the South Asian country will have to return the debt within 40 years.
He said Pakistan would receive $3 billion in the running fiscal year, adding that the World Bank, Asian Development Bank and Asian Infrastructure and Investment Bank would start providing funding from next month.
Shah said the government would spend $8 billion for the rehabilitation of the flood-hit areas of the country, adding that $1.5 billion had already been spent.
Earlier this week, Prime Minister Shehbaz Sharif, in a press conference after the Geneva moot, said the international community committed to give Pakistan a huge sum of over $9 billion in flood aid.
Terming the conference "highly successful," the premier: “Pledges worth $9.7 billion were announced for the flood victims at the moot.
“Islamic Development Bank promised $4.2 billion, World Bank $2 billion, Saudi Arab $1 billion, Asian Infrastructure Development Bank $1 billion, Asian Development Bank $500 million, USAID $100 million, China $100 million, Italy €23 million, Japan $77 million, Qatar $25 million, UK £36 million, and France $10 million,” he explained.
PM Shehbaz said the successful moot showed the world’s trust in Pakistan, adding that the every penny of the funds will be spent transparently on the flood victims.
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 20, 2023 (Monday).
Source: Forex Association of Pakistan. (last update 09:00 AM)
|UK Pound Sterling||GBP||341.5||345|
|Hong Kong Dollar||HKD||36.1||36.45|
|New Zealand Dollar||NZD||174.91||176.91|
KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs 208,200 on Monday.The price of 10 grams of 24k gold was recorded at Rs178,500.
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 190,849.
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 208200||PKR 2390|
|Karachi||PKR 208200||PKR 2390|
|Islamabad||PKR 208200||PKR 2390|
|Peshawar||PKR 208200||PKR 2390|
|Quetta||PKR 208200||PKR 2390|
|Sialkot||PKR 208200||PKR 2390|
|Attock||PKR 208200||PKR 2390|
|Gujranwala||PKR 208200||PKR 2390|
|Jehlum||PKR 208200||PKR 2390|
|Multan||PKR 208200||PKR 2390|
|Bahawalpur||PKR 208200||PKR 2390|
|Gujrat||PKR 208200||PKR 2390|
|Nawabshah||PKR 208200||PKR 2390|
|Chakwal||PKR 208200||PKR 2390|
|Hyderabad||PKR 208200||PKR 2390|
|Nowshehra||PKR 208200||PKR 2390|
|Sargodha||PKR 208200||PKR 2390|
|Faisalabad||PKR 208200||PKR 2390|
|Mirpur||PKR 208200||PKR 2390|
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