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Nawaz led PML-N foreseen to win 2018 polls: Report

Haider Ali 12:39 PM | 14 Jan, 2017
Nawaz led PML-N foreseen to win 2018 polls: Report
ISLAMABAD - The ruling PML-N under the leadership of Nawaz Sharif as Prime Minister can win the upcoming 2018 elections amid crises, according to a report.

The report published in Nikkei Asian Review, an English language business journal, states Pakistan had recently witnessed significant improvements in its infrastructure and energy sectors, helped in part by the downward trend in oil prices.

In August, the country completed the International Monetary Fund’s Extended Fund Facility program, which provided $6.4 billion in financial aid over three years on condition that the country undertakes certain reforms, including fiscal austerity and privatization measures. Macroeconomic indexes were up across the board, and relations with the U.S. and the wider international community had improved.

It said the public order, which had long plagued the entire country, was normalizing thanks to the military’s anti-terrorism campaign.

Although it could only be described as reaching the halfway point in its efforts to promote exports and manufacturing, reform the tax code and privatize state run companies, Pakistan’s recovery was undoubtedly gathering pace.

For fiscal year 2017, the country was confidently projecting growth above 5%. The consumer price index, which for a time saw double digit annual growth, fell to 2.9% on average in fiscal year 2016. The government’s annual deficit had fallen from 8.2% in fiscal 2013 to 4.6% of GDP.

Under Sharif, the Asian Review said the ruling PML N had focused on building infrastructure and public transportation systems.

It had also made certain progress, mainly in its stronghold of Punjab, developing agricultural areas and addressing unemployment.

The centerpiece of its political campaign was the China Pakistan Economic Corridor project, a comprehensive infrastructure program relying on financial help from China. Investment in CPEC projects totals $51 billion, mainly for the building of power plants, but also encompassing roads, ports, railroads and airports, and offers hope of spurring industry nationwide.

“There’s a significant improvement both on the economic and security sides. Democracy is also taking roots,” said Arif Habib, CEO of leading conglomerate Arif Habib group, when asked about the performance of the Sharif administration.

“The media is free, and the judiciary system is also improving,” he added.

 

Highlighting the strong foundations of the PML N, the journal said in June 2013, Pakistan underwent its first ever peaceful regime change from one elected civilian party to another.

In the National Assembly the ruling PML N holds 189 seats, 55% of the total 342, while the opposition Pakistan Peoples Party, co-led by Bilawal Bhutto Zardari, son of former Prime Minister Benazir Bhutto, holds 47 seats. The Pakistan Tehreek e Insaf (PTI) holds 33 and was led by Imran Khan, a former cricketer.

The PPP won the 2008 general elections after leader Benazir Bhutto was gunned down during the campaign, but lost steam due to political failures. The party was working to regain power under the leadership of Bilawal and Bhutto’s husband Asif Ali Zardari, but that would require increased support in its own stronghold in Sindh, as well as making inroads in Punjab, the PML N heartland that was home to more than half the country’s population.

The PTI made major strides in the last general election, but public opinion was turning. As one Pakistani businessman put it,

'They lost people’s support due to agitation politics, including months long sit in at the parliament'.

–APP

 

Haider Ali

The writer is a civil servant.

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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 February 9, 2023 (Thursday).

Source: Forex Association of Pakistan. (last update 09:00 AM)

Currency Symbol Buying Selling
US Dollar ‎USD 271.9 274.85
Euro EUR 294.7 297.7
UK Pound Sterling GBP 331 334.2
U.A.E Dirham AED 75.3 76
Saudi Riyal SAR 73.2 73.9
Australian Dollar AUD 191.3 193.7
Bahrain Dinar BHD 732.35 740.35
Canadian Dollar CAD 205 207.2
China Yuan CNY 40.72 41.12
Danish Krone DKK 39.92 40.32
Hong Kong Dollar HKD 35.08 35.43
Indian Rupee INR 3.35 3.46
Japanese Yen JPY 2 2.16
Kuwaiti Dinar KWD 900.32 909.32
Malaysian Ringgit MYR 64.65 65.25
New Zealand Dollar NZD 173.63 175.63
Norwegians Krone NOK 27.12 27.42
Omani Riyal OMR 715.53 723.57
Qatari Riyal ‎QAR 75.64 76.34
Singapore Dollar SGD 208.03 210.03
Swedish Korona SEK 26.1 26.4
Swiss Franc CHF 298.06 300.56
Thai Bhat THB 8.25 8.4

KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs193,700 on Thursday. The price of 10 grams of 24k gold was recorded at Rs166,070.

Likewise, 10 grams of 22k gold were being traded for Rs167,318 while a single tola of 22-karat gold was being sold at Rs 195,157.

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 193,700 PKR 2,350
Karachi PKR 193,700 PKR 2,350
Islamabad PKR 193,700 PKR 2,350
Peshawar PKR 193,700 PKR 2,350
Quetta PKR 193,700 PKR 2,350
Sialkot PKR 193,700 PKR 2,350
Attock PKR 193,700 PKR 2,350
Gujranwala PKR 193,700 PKR 2,350
Jehlum PKR 193,700 PKR 2,350
Multan PKR 193,700 PKR 2,350
Bahawalpur PKR 193,700 PKR 2,350
Gujrat PKR 193,700 PKR 2,350
Nawabshah PKR 193,700 PKR 2,350
Chakwal PKR 193,700 PKR 2,350
Hyderabad PKR 193,700 PKR 2,350
Nowshehra PKR 193,700 PKR 2,350
Sargodha PKR 193,700 PKR 2,350
Faisalabad PKR 193,700 PKR 2,350
Mirpur PKR 193,700 PKR 2,350

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