PESHAWAR – Khyber Pakhtunkhwa Governor Haji Ghulam Ali has dissolved the provincial legislature on the advice of Chief Minister Mahmood Khan in a bid to force early elections.
On Tuesday night, KP Chief Minister sent a summary, advising Governor to dissolve the provincial assembly under PTI’s larger gambit to pave the way for the next general elections.
The summary signed by the governor of the country's northwestern region cited "I, Haji Ghulam Ali, Governor of the Khyber Pakhtunkhwa, under Clause (1) of Article 112 of the Constitution of Islamic Republic of Pakistan, 1973, dissolve the Provincial Assembly of the Khyber Pakhtunkhwa, with immediate effect. Henceforth, the Provincial Cabinet also stands dissolved."
It further added that the incumbent CM Mahmood Khan will continue to perform affairs as provincial top executive till the appointment of the care-taker Chief Minister.
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With the dissolution of the regional legislature, the government and opposition will oppose names for the caretaker setup.
Pakistan Tehreek-e-Insaf chief Imran Khan, who was ousted from premiership via a no-confidence vote in spring 2022, planned the dissolution of two provincial assemblies in Punjab and Khyber Pakhtunkhwa provinces, where his coalition holds a majority.
As the former ruling party seems ecstatic over putting pressure on the incumbent government, his gambit is expected to deepen political uncertainty in a cash-strapped country, which is facing a severe crisis stemming from delays in the release of IMF loan.
Despite the worst economic crisis in recent memory, the populist leader Imran Khan believes that snap polls will help the economic woes of the South Asian nation however the sitting Prime Minister Shehbaz Sharif and his cabinet members continued to oppose him, calling his moves unconstitutional for dissolving the assemblies and going for next general elections.
More to follow…
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.
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.
|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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