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NAB chief shies away from appearing before NA panel over Nawaz' money-laundering probe

Mahmood Idrees 01:42 PM | 16 May, 2018
NAB chief shies away from appearing before NA panel over Nawaz' money-laundering probe
ISLAMABAD - Justice (retd) Javed Iqbal, National Accountability Bureau (NAB) chairman, excused on Wednesday himself from appearing before a parliamentary committee over the recent probe launched against former prime minister Nawaz Sharif on money-laundering charges, local media reported.

Iqbal informed the National Assembly's standing committee for Law and Justice that he received the letter in the morning today and was unable to attend the meeting. He requested the committee to give him an appropriate time in this regard.

However, the committee has refused to accept the excuse and directed the NAB head to review his decision and sent all its correspondence on the matter to the National Assembly speaker.

Later, the committee accepted the excuse and summoned the NAB chief on May 22 (Friday).

The NA panel had ordered the anti-graft watchdog chief to appear before the body in person on Wednesday at 2:30pm after a new inquiry based on media reports was ordered against Sharif.

Iqbal was asked to appear before the committee along with the NAB official involved in the investigations.

The action by NA body came after Pakistan Muslim League-Nawaz (PML-N) lawmaker Rana Hayat raised the point of order in wake of the controversial probe.

Money Laundering Probe

On May 8, taking notice of a misleading newspaper article based on a ‘flawed’ report of the World Bank, the anti-corruption watchdog started verification whether Sharif was involved in sending $4.9 billion to India.

According to NAB, World Bank’s migration and remittance book released in September 2016 carried information that foreign exchange reserves of India increased by $4.9 billion after receiving the huge amount sent through money laundering, inflicting losses to Pakistan’s national kitty.

WB Rejects Reports

In a statement issued by the World Bank hours after the NAB's announcement, it rejected that its Remittances and Migration Report of 2016 levelled $4.9 billion money-laundering accusations against the former premier.

“In the past day, there have been media reports citing the World Bank’s Remittances and Migration Report of 2016. These media reports were incorrect,” read the press release.

“The World Bank’s Remittances and Migration Report is an effort by the World Bank to estimate migration and remittances numbers across the world. The report does not include any mention of money laundering nor does it name any individuals,” it added.

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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 03, 2023 (Friday).

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

Currency Symbol Buying Selling
US Dollar ‎USD 272.25 273.25
Euro EUR 297.32 297.65
UK Pound Sterling GBP 333.31 333.61
U.A.E Dirham AED 73.03 73.33
Saudi Riyal SAR 71.49 71.80
Australian Dollar AUD 188.9 191.3
Bahrain Dinar BHD 712.73 720.73
Canadian Dollar CAD 200.95 203.15
China Yuan CNY 39.67 40.07
Danish Krone DKK 39.11 39.51
Hong Kong Dollar HKD 34.19 34.54
Indian Rupee INR 3.28 3.39
Japanese Yen JPY 2.5 2.54
Kuwaiti Dinar KWD 877.76 886.76
Malaysian Ringgit MYR 62.83 63.43
New Zealand Dollar NZD 173.25 175.25
Norwegians Krone NOK 26.76 27.09
Omani Riyal OMR 696.08 704.08
Qatari Riyal ‎QAR 73.62 74.32
Singapore Dollar SGD 204 206
Swedish Korona SEK 25.61 25.91
Swiss Franc CHF 291.69 294.19
Thai Bhat THB 8.15 8.3

KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs 212,900 on Friday. The price of 10 grams of 24k gold was recorded at Rs182,530.

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 212,900 PKR 2,420
Karachi PKR 212,900 PKR 2,420
Islamabad PKR 212,900 PKR 2,420
Peshawar PKR 212,900 PKR 2,420
Quetta PKR 212,900 PKR 2,420
Sialkot PKR 212,900 PKR 2,420
Attock PKR 212,900 PKR 2,420
Gujranwala PKR 212,900 PKR 2,420
Jehlum PKR 212,900 PKR 2,420
Multan PKR 212,900 PKR 2,420
Bahawalpur PKR 212,900 PKR 2,420
Gujrat PKR 212,900 PKR 2,420
Nawabshah PKR 212,900 PKR 2,420
Chakwal PKR 212,900 PKR 2,420
Hyderabad PKR 212,900 PKR 2,420
Nowshehra PKR 212,900 PKR 2,420
Sargodha PKR 212,900 PKR 2,420
Faisalabad PKR 212,900 PKR 2,420
Mirpur PKR 212,900 PKR 2,420

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