Pakistan welcomes COP27 initiative for establishment of fund for climate-hit countries

01:18 PM | 20 Nov, 2022
Pakistan welcomes COP27 initiative for establishment of fund for climate-hit countries
Source: File Photo

ISLAMABAD – Pakistan Sunday hailed a UN climate summit's – COP27 – initiative to set up a "loss and damage" fund to help vulnerable countries.

Pakistan’s is one of the most-affected countries from climate change despite its minor contribution to emission of greenhouse gases.

The South Asian country has long been demanding compensation from top contributors of the greenhouse gases and the demand was pushed further this year when it was badly hit by record floods occurred due to climate change.

A two-week long UN summit is being held in Sharma Al Shaikh, Egypt, where the delegates from nearly 200 countries are gathered to discuss the climate issues.

In a major breakthrough, the COP27 on Saturday reached a breakthrough agreement on establishment of a fund to help poor countries affected by climate disasters and vulnerable to the adverse effects of climate change.

Representatives of nearly two hundred nations participating in the summit termed the agreement a step forward in the fight against climate change.

The COP27 draft agreement reaffirms to limit global warming to 1.5 degrees Celsius to prevent the worst effects of climate change.

Reacting to the development, Prime Minister Shehbaz Sharif said establishment of loss and damage fund at the UN climate summit is the first pivotal step towards the goal of climate justice.

Taking to Twitter, he wrote it is up to the transitional committee to build on the historic development.

The premier appreciated Minister for Climate Change Sherry Rehman and her team for their contribution and hard work.

Meanwhile, Sherry Rehman has termed the establishment of a loss and damage fund is an investment in climate justice.

Addressing the G77 meeting at COP27, Egypt, she said that the fund is a positive milestone in fight against climate change.

She hoped that developing countries will be provided technical assistance to avert and minimize the impact of climate change.   

She expressed concern over the lack of progress on the deficit and financing the formulation and implementation of national adaptation plans.

She said these are crucial tools for countries struggling to build resilience against climate stress.

Sherry Rehman reiterated that G77 and China will continue to support the climate change negotiation process in forging common ground for reclaiming our planet for our future generations.


Today's currency exchange rates in Pakistan - Dollar, Euro, Pound, Riyal rates on March 31, 2023

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 March 31, 2023 (Friday).

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

Currency Symbol Buying Selling
US Dollar ‎USD 283.8 286.6
Euro EUR 306 309
UK Pound Sterling GBP 347.5 351
U.A.E Dirham AED 77.2 79.9
Saudi Riyal SAR 75.6 76.4
Australian Dollar AUD 187.5 189.9
Bahrain Dinar BHD 753.99 761.99
Canadian Dollar CAD 206.5 208.7
China Yuan CNY 41.25 41.65
Danish Krone DKK 41.26 41.51
Hong Kong Dollar HKD 36.11 36.46
Indian Rupee INR 3.45 3.56
Japanese Yen JPY 2.15 2.22
Kuwaiti Dinar KWD 925.67 934.67
Malaysian Ringgit MYR 62.85 63.45
New Zealand Dollar NZD 175.57 177.58
Norwegians Krone NOK 26.33 26.63
Omani Riyal OMR 736.34 744.35
Qatari Riyal ‎QAR 77.92 78.62
Singapore Dollar SGD 209.5 211.5
Swedish Korona SEK 26.5 26.8
Swiss Franc CHF 308.25 310.75
Thai Bhat THB 8.28 8.43

Today's gold rates in Pakistan – 01 April 2023

KARACHI - The price of a single tola of 24-karat gold in Pakistan is Rs 209,000 on Saturday.The price of 10 grams of 24k gold was recorded at Rs179,190.   

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 209,000 PKR 2,525
Karachi PKR 209,000 PKR 2,525
Islamabad PKR 209,000 PKR 2,525
Peshawar PKR 209,000 PKR 2,525
Quetta PKR 209,000 PKR 2,525
Sialkot PKR 209,000 PKR 2,525
Attock PKR 209,000 PKR 2,525
Gujranwala PKR 209,000 PKR 2,525
Jehlum PKR 209,000 PKR 2,525
Multan PKR 209,000 PKR 2,525
Bahawalpur PKR 209,000 PKR 2,525
Gujrat PKR 209,000 PKR 2,525
Nawabshah PKR 209,000 PKR 2,525
Chakwal PKR 209,000 PKR 2,525
Hyderabad PKR 209,000 PKR 2,525
Nowshehra PKR 209,000 PKR 2,525
Sargodha PKR 209,000 PKR 2,525
Faisalabad PKR 209,000 PKR 2,525
Mirpur PKR 209,000 PKR 2,525


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