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Modi clears funds for India's largest-ever warship

06:09 PM | 15 May, 2015
Modi clears funds for India's largest-ever warship
NEW DELHI (Web Desk) - India has finally set the ball rolling for the eventual construction of it’s largest-ever warship, the 65,000-tonne aircraft carrier INS Vishal. The defence acquisitions council (DAC) has sanctioned an initial Rs 30 crore as seed money for the project.

Just before PM Narendra Modi left for China on Wednesday night, the Manohar Parrikar-led DAC cleared a flurry of long-pending projects for ultra-light howitzers, medium-transport aircraft, light utility helicopters and the like worth over Rs 25,000 crore, as reported by TOI.

But tucked away in the approvals was the relatively minor amount of Rs 30 crore for the indigenous aircraft carrier-II (IAC-II). But its potential is huge, and very significant for a country that is vying with China for the same strategic space in the Indian Ocean Region (IOR).

Carrier battle groups are the final word in raw power projection around the globe, capable as they are of travelling 600 nautical miles a day with their supersonic fighters and missiles as well as accompanying destroyers, frigates and submarines.

Officials said there were three main reasons for the DAC's green signal to the "commencement of preparatory work for construction of IAC-II". INS Vishal is likely to have nuclear propulsion for greater endurance as well as CATOBAR (catapult assisted take-off but arrested recovery) configuration for launching fighters as well as heavier aircraft from its deck.

The author is working as Editor Digital Media for Daily Pakistan and can be reached @ItsSarfrazAli.

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Today Open Market Currency Rates - Pak Rupee to US Dollar, Euro, Pound, Riyal - 23 June 2024

Pakistani rupee rates against US Dollar and other currencies on June 23, 2024 (Saturday) in open market.

USD to PKR Rate Today

US dollar was being quoted at 277.7 for buying and 280.85 for selling.

Euro's buying rate stands at 294.3 and selling rate is 297.9 while British Pound rate is 352 for buying, and 355.5 for selling.

UAE Dirham AED was at 75 and Saudi Riyal at 72.85.

Currency Rates in Pakistan

Currency Symbol Buying Selling
US Dollar USD 277.7 280.85
Euro EUR 294.3 297.9
UK Pound Sterling GBP 352 355.5
U.A.E Dirham AED 75 75.8
Saudi Riyal SAR 72.85 73.6
Australian Dollar AUD 182.2 184
Bahrain Dinar BHD 740.98 748.98
Canadian Dollar CAD 202 204
China Yuan CNY 38.4 38.8
Danish Krone DKK 40.15 40.55
Hong Kong Dollar HKD 35.68 36.03
Indian Rupee INR 3.34 3.45
Japanese Yen JPY 1.9 1.98
Kuwaiti Dinar KWD 908.7 917.7
Malaysian Ringgit MYR 59.07 59.67
New Zealand Dollar NZD 170.98 172.98
Norwegians Krone NOK 26.38 26.68
Omani Riyal OMR 723.75 731.75
Qatari Riyal QAR 76.53 77.23
Singapore Dollar SGD 202 204
Swedish Korona SEK 26.68 26.98
Swiss Franc CHF 315.21 317.71
Thai Bhat THB 7.59 7.74

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