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Chinese defence minister under probe for corrupt procurement

01:47 PM | 16 Sep, 2023
Chinese defence minister under probe for corrupt procurement
Source: Twitter

BEIJING – China’s Defense Minister Li Shangfu, who had been absent from public view for over two weeks, is under investigation by Chinese authorities, according to media reports.

The investigation into Li is related to the procurement of military equipment, although specific details about the equipment purchases under scrutiny are not available at this time.

Additionally, eight senior officials from the Chinese military’s procurement unit, which Li led from 2017 to 2022, are also under investigation.

The probe into Li and the other officials is being conducted by the military’s disciplinary inspection commission.

Li’s last public appearance was on August 29, where he gave a keynote speech at a security forum with African nations in Beijing. He had also visited Russia and Belarus earlier that month.

The investigation into Li began shortly after his return from that trip, with his ministry later cancelling a planned visit to Vietnam for an annual defence meeting between the two countries.

These developments follow a series of unexplained leadership changes in China, including the replacement of Foreign Minister Qin Gang in July after a prolonged absence from public view.

Both Li and Qin were seen as handpicked by President Xi Jinping, making their abrupt absence from their roles less than a year into their appointments notable.

In July, the military’s procurement unit issued a notice inviting the public to report irregularities dating back to October 2017, when Li was in charge. The unit indicated a desire to “clean up” its bidding process.

Li has previously been sanctioned by the U.S. in 2018 over weapons purchases from Russia’s largest arms exporter.

Daily Pakistan Global Web Desk

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Rupee exchange rate to US Dollar, Euro, Pound, Dirham, and Riyal - 2 March 2024

Pakistani rupee remains largely stable against USD and other currencies in the open market on March 2, 2024 (Saturday).

US Dollar rate in Pakistan

In the open market, the US dollar was being quoted at 279.4 for buying and 282.3 for selling.

Euro currently stands at 302.5 for buying and 305.5 for selling while British Pound rate stands at 354 for buying, and 359 for selling.

UAE Dirham AED hovers at 76.3 whereas the Saudi Riyal saw slight increase, with new rates at 74.5.

Today’s currency exchange rates in Pakistan – March 2, 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 279.4 282.3
Euro EUR 302.5 305.5
UK Pound Sterling GBP 354 359
U.A.E Dirham AED 76.3 77
Saudi Riyal SAR 74.5 75.3
Australian Dollar AUD 181 183
Bahrain Dinar BHD 737.97 745.97
Canadian Dollar CAD 207 209.2
China Yuan CNY 38.82 39.22
Danish Krone DKK 40.23 40.63
Hong Kong Dollar HKD 35.7 36.05
Indian Rupee INR 3.37 3.48
Japanese Yen JPY 2.1 2.18
Kuwaiti Dinar KWD 901.62 910.62
Malaysian Ringgit MYR 58.49 59.09
New Zealand Dollar NZD 168.97 170.97
Norwegians Krone NOK 26.54 26.84
Omani Riyal OMR 725.68 733.68
Qatari Riyal QAR 76.74 77.44
Singapore Dollar SGD 27.13 27.43
Swedish Korona SEK 314.07 316.57
Swiss Franc CHF 314.07 316.57
Thai Bhat THB 7.74 7.89

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