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HBL finances Rs 1 billion for solar tube wells to boost renewable energy in agriculture sector

06:22 PM | 20 Nov, 2023
HBL finances Rs 1 billion for solar tube wells to boost renewable energy in agriculture sector

KARACHI -  HBL sets the industry benchmark with Rs 1 billion in financing for solar tube wells. The facility enables farmers to adopt these capital-intensive technologies affordably and cost-effectively.

Farmers are facilitated with easy and quick access to credit through the Bank’s vast rural footprint. The milestone fosters HBL’s commitment towards sustainable and climate-smart agriculture in line with Aga Khan Development Network’s (AKDN) Net Zero Goal of 2030. 

HBL as a signatory of Principles of Responsible Banking (PRB) and Net Zero Banking Alliance (NZBA), is striving to promote renewable energy sources in the agricultural ecosystem and minimize carbon emissions by limiting the use of fossil fuels. Solarization of tube wells is the cost-effective solution that ensures a timely supply of irrigation water in the right quantity. These technologies considerably reduce the cost of production and improve farm productivity resulting in higher profit margins.

Commenting on this achievement, Aamir Kureshi, Head Consumer, Agriculture & SME Banking, stated, “HBL is leading the agriculture financing among the commercial banks and has actively partnered with farmers across the agriculture landscape for the timely provision of financial services to achieve the common objective of better crop yields and enhanced farm productivity. This will go a long way in ensuring food security and prosperity for the farming communities. HBL is committed to supporting the agriculture sector through leveraging technology and innovative financial solutions.”

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Pakistani rupee exchange rate to US dollar, Euro, Pound, Dirham, and Riyal - 4 Dec  2023

Pakistani rupee's value remained stable against US dollar, Euro, Pound, Dirham, Riyal and other currencies in the open market.

Dollar Rate in Pakistan Today

On Monday, the US dollar was being quoted at 285.15 for buying and 287.95 for selling.

Euro rate stands at 309.9 for buying and 310.5 for selling. British Pound GBP rate stands at 359.4 for buying, and 360.05 for selling.

UAE Dirham AED currently hovers around 77.45 while rate of Saudi Riyal stands at 75.82.

Today’s currency exchange rates in Pakistan – 4 December 2023

Currency Symbol Buying Selling
US Dollar USD 285.15  287.95 
Euro EUR 309.9  310.5 
UK Pound Sterling GBP 359.4  360.05 
U.A.E Dirham AED 77.45 77.6
Saudi Riyal SAR 75.82 75.97
Australian Dollar AUD 187.72 188.22
Bahrain Dinar BHD 759.94 767.94
Canadian Dollar CAD 209.99 210.49
China Yuan CNY 39.78 39.88
Danish Krone DKK 41.95 42.05
Hong Kong Dollar HKD 36.38 36.48
Indian Rupee INR 3.39 3.5
Japanese Yen JPY 1.49 1.56
Kuwaiti Dinar KWD 926.39 935.39
Malaysian Ringgit MYR 60.38 60.98
New Zealand Dollar NZD 173.44 175.44
Norwegians Krone NOK 26.25 26.55
Omani Riyal OMR 742.16 750.18
Qatari Riyal QAR 78.5 79.2
Singapore Dollar SGD 212.45 212.95
Swedish Korona SEK 27.09 27.19
Swiss Franc CHF 325.38 325.88
Thai Bhat THB 8.05 8.09

Gold prices in Pakistan move down despite positive global cues

The gold remained under pressure as the precious metal moved down despite an upward trend in the international market.

Gold Rates in Pakistan Today - 4 December 2023

On the first day of the week, the price of a single tola of 24-karat gold stands at Rs217,000 and 10 grams of 24k gold costs Rs186,043 

A single tola of 22-karat gold costs Rs170,539, while 21 karat rate for each tola is Rs. 192,325 and the price of 18k gold is Rs164,850.

In the global market, gold prices hover at around $2086, gaining $14.44 on Monday.

Today Gold Rate in Pakistan

City Gold Silver
Lahore PKR 217,000 PKR 2,720
Karachi PKR 217,000 PKR 2,720
Islamabad PKR 217,000 PKR 2,720
Peshawar PKR 217,000 PKR 2,720
Quetta PKR 217,000 PKR 2,720
Sialkot PKR 217,000 PKR 2,720
Attock PKR 217,000 PKR 2,720
Gujranwala PKR 217,000 PKR 2,720
Jehlum PKR 217,000 PKR 2,720
Multan PKR 217,000 PKR 2,720
Bahawalpur PKR 217,000 PKR 2,720
Gujrat PKR 217,000 PKR 2,720
Nawabshah PKR 217,000 PKR 2,720
Chakwal PKR 217,000 PKR 2,720
Hyderabad PKR 217,000 PKR 2,720
Nowshehra PKR 217,000 PKR 2,720
Sargodha PKR 217,000 PKR 2,720
Faisalabad PKR 217,000 PKR 2,720
Mirpur PKR 217,000 PKR 2,720

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