UAE-Israel deal, Pakistan is in big trouble? 

Ahsan Raza 01:37 PM | 17 Aug, 2020
UAE-Israel deal, Pakistan is in big trouble? 

The United Arab Emirates (UAE) and Israel do not share any border but they share a common enemy called Iran, and this strong mutual bond has brought them to strike a, what is being dubbed historic deal. Soon, the Gulf country and the Zionist state will have full diplomatic relations, and proper tourism and trade relations. With this, the UAE becomes the third Arab country (after Jordan and Egypt) to recognize Israel ditching the Palestinian cause. 

The so-called peace deal was announced by US President Donald Trump on August 13 in the presence of UAE and Israeli representatives. The deal did not come out of the blue as both countries had been working on it through background channels and had undertaken certain intelligence-related projects to counter Iran. 

The deal provides the only thing to the UAE to brag about in front of the impotent Arab League that Israel has agreed to stop the annexation of the West Bank, the territory that is the dearest to Palestinians after Jerusalem, the site of sacred Aqsa Mosque. 

The gain for Israeli Prime Minister Benjamin Netanyahu is that he has exposed the fact to his right-wing faction that Arab countries can be brought into diplomatic ties without giving them anything tangible. Earlier, the Arab world used to seek the revival of pre-1967 Palestinian borders in return for normalization of ties with Israel. But with the inception of King Salman in the KSA, things have started coming out unexpectedly. Moreover, he has announced that the annexation plan is very much intact and soon, and it is not off the table. So, it is a matter of time before or after the Israeli elections, the annexation of the West Bank will take place. 

The deal offers a win-win to US President Donald Trump who hopes to win the support of ultra-right voters in the upcoming elections. The recent poll suggested his popularity graph going down in the wake of his irresponsible response to the Covid-19 epidemic. 

Until a few years ago, Arab nations, including the UAE, have voiced their support for Palestinians and denounced Israel’s continuous policy of thwarting talks on a two-state solution and making Jerusalem as the capital of Palestine. President Mahmoud Abbas of the Palestinian Authority has called the deal as a betrayal by the UAE. 

Iranian President Hassan Rouhani and Turkish President Tayyip Erdogan have called the Israel-UAE deal a ‘huge mistake’ and an act of “strategic stupidity from Abu Dhabi and Tel Aviv”.

Saudi Arabia has been silent on the development, while other Gulf countries – Bahrain and Oman have welcomed the deal. 

Israeli officials say that soon Bahrain and Oman will follow the UAE in recognizing the existence of Israel as a diplomatic partner, while some American circles are hopeful that Saudi Arabia will follow the suit and announce establishing diplomatic ties with the Jewish state. 

The development has caught Pakistan between the devil and the deep blue sea. If Pakistan opposes the deal, like Iran and Turkey, it will anger the UAE, which provides jobs to millions of Pakistani laborers and helps generate remittances. If it supports the move, it will weaken its Kashmir cause. So, in an ambiguous and carefully crafted statement, the Foreign Office said the deal would have far-reaching implications and that Pakistan still supports Palestinians’ right to have a separate state.  

In the emerging situation, Pakistan needs to look for some other revenue channels instead of relying on the Gulf countries. Things are changing and moving to the bitter side. 

Ahsan Raza
Ahsan Raza

Ahsan Raza is a Lahore-based journalist. He blogs at and tweets @AhsanRazaBudh. His story is part of the Pakistan Press Foundation fellowship.


USD to PKR: Pakistani rupee remains stable against dollar as IMF talks underway

ISLAMABAD – Pakistani rupee remained stable against the US dollar as the market is looking for direction amid Pakistan’s ongoing negotiations with the International Monetary Fund (IMF).

Amid the economic uncertainty, the local currency remained unchanged against the greenback, moving up 0.01 percent during the opening hours of trading. Before noon, PKR was hovering at 285.40 in the interbank.

In contrast to the inter-bank, the dollar continued its upward trajectory in the open market and is reportedly available at Rs315, as the gap between the official rate and open market rate is Rs30 per dollar.

As the money market is waiting for a positive development from the economic front, International Monetary Fund (IMF) Mission Chief to Pakistan said they continued engagement with Islamabad focusing on the restoration of foreign exchange proper market functioning, with special on the upcoming budget.

Today's gold rates in Pakistan – May 30 2023

KARACHI - The price of a single tola of 24-karat gold in Pakistan is Rs 232,700 on Tuesday.The price of 10 grams of 24k gold was recorded at Rs199,510.   

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 190,880.

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 232,700 PKR 2,500
Karachi PKR 232,700 PKR 2,500
Islamabad PKR 232,700 PKR 2,500
Peshawar PKR 232,700 PKR 2,500
Quetta PKR 232,700 PKR 2,500
Sialkot PKR 232,700 PKR 2,500
Attock PKR 232,700 PKR 2,500
Gujranwala PKR 232,700 PKR 2,500
Jehlum PKR 232,700 PKR 2,500
Multan PKR 232,700 PKR 2,500
Bahawalpur PKR 232,700 PKR 2,500
Gujrat PKR 232,700 PKR 2,500
Nawabshah PKR 232,700 PKR 2,500
Chakwal PKR 232,700 PKR 2,500
Hyderabad PKR 232,700 PKR 2,500
Nowshehra PKR 232,700 PKR 2,500
Sargodha PKR 232,700 PKR 2,500
Faisalabad PKR 232,700 PKR 2,500
Mirpur PKR 232,700 PKR 2,500


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