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Failure of funds from international community may fuel political instability in Pakistan: PM Shehbaz

01:04 PM | 19 Oct, 2022
Failure of funds from international community may fuel political instability in Pakistan: PM Shehbaz
Source: Prime Minister of Pakistan (Twitter)

ISLAMABAD – Prime Minister Shehbaz Sharif said the failure of funds from the international community may fuel political instability in the South Asian country as monstrous rains caused flash floods to deal a severe blow to the already cash-strapped country.

In his interview with Financial Times, the premier mentioned the dire need for ‘huge sums of money’ to rebuild roads, bridges, and other infrastructure damaged and washed away after unprecedented deluges.

PM Shehbaz rebuffed the impression of asking for any kind of measure like rescheduling or a moratorium, saying we need additional funds.

The premier reiterated that the Pakistani government is asking for climate justice, we are not using the word ‘reparations’ at all, the report said.

He mentioned Pakistan's war-like state against climate change-induced destruction. Today, we are victim, and tomorrow another country can and we don’t want that to happen, PM told the British daily.

Responding to a question, the PML-N leader said the ruling alliance was concerned if there was discontent leading to a deeper political crisis and the country of nearly 221 million was not able to achieve its basic requirements, the haphazard situation could lead to ‘serious problems’.

He however clarified that there’s no threat as of now, but mentioned that there’s a real possibility.

In an earlier interview, PM Shehbaz lamented that he was forced to go out with a ‘begging bowl’ to first-world countries that are responsible for global emissions. We are facing an extraordinary crisis of health, food security, and internal displacement after the “apocalyptical” monsoon rainfall, PM said.

He also clarified his comments, saying “We are not blaming anybody, we’re not casting allegations, what we are we saying is this is not of our making but we have become a victim. Should I be asked to cast my appeal into a begging bowl? That is double jeopardy. That’s unjust, unfair.”

Expressing his views on global support, Prime Minister said he was grateful for the very touching words and statements, it was all very fine but more important is the practical demonstration of these statements into action.

We appreciate it, but this is not enough…They must come forward with a far better and a far bigger plan to rescue and rehabilitate us and put us back on our footing, he added.

The premier also noted the long-standing promises made by developed countries for climate funds.

Lately, United Nations and European Union also scaled up their flood assistance to 30 million euros.

Daily Pakistan Global Web Desk

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Currency Rates in Pakistan Today - Pak Rupee to US Dollar, Euro, Dirham, Riyal 17 May 2024

Pakistani currency rates against US Dollar and other currencies on May 16, 2024 (Friday) in open market.

USD to PKR rate today

US dollar was being quoted at 277.25 for buying and 280.05 for selling.

Euro stands at 296.25 for buying and 299 for selling while British Pound rate is 344.5 for buying, and 348 for selling.

UAE Dirham AED was at 75.15 and Saudi Riyal came down to 73.50.

Today’s currency exchange rates in Pakistan - 17 May 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar ‎USD 277.25 280.05
Euro EUR 296.25 299
UK Pound Sterling GBP 344.5 348
U.A.E Dirham AED 75.15 75.9
Saudi Riyal SAR 73.50 74.2
Australian Dollar AUD 180.5 182.2
Bahrain Dinar BHD 739.77 747.77
Canadian Dollar CAD 203 205
China Yuan CNY 38.49 38.89
Danish Krone DKK 40.25 40.65
Hong Kong Dollar HKD 35.61 35.96
Indian Rupee INR 3.33 3.44
Japanese Yen JPY 1.91 1.99
Kuwaiti Dinar KWD 904.28 913.28
Malaysian Ringgit MYR 58.69 59.29
New Zealand Dollar NZD 167.45 169.45
Norwegians Krone NOK 25.67 25.95
Omani Riyal OMR 722.59 730.59
Qatari Riyal ‎QAR 76.41 77.11
Singapore Dollar SGD 203 205
Swedish Korona SEK 25.67 25.97
Swiss Franc CHF 306.51 309.01
Thai Bhat THB 7.57 7.72

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