Eyeing complete separation from Altaf Hussain, PSP agrees to attend MQM-Pakistan’s APC

Haider Ali 02:08 PM | 21 Aug, 2017
Eyeing complete separation from Altaf Hussain, PSP agrees to attend MQM-Pakistan’s APC
KARACHI - Pak Sarzameen Party accepted an invitation to attend Muttahida Qaumi Movement – Pakistan’s all-party conference tomorrow while seeking complete disassociation of group from Altaf Hussain.

PSP leader Anees Advocate, while addressing a joint press conference here on Monday said that PSP will join MQM in devising a strategy for solutions to the problems of the country.

"However, we hope that on August 22, when a number of people will be celebrating Youm-i-Nijaat (Day of Deliverance), MQM will put forward a clear stance against Pakistan's traitor," the PSP leader said while referring to MQM's founder Altaf Hussain.

Anees Advocate claimed that not only MQM, but all Pakistanis denounce any connection with Hussain, terming him an 'agent of India’s intelligence agency, Research and Analysis Wing (RAW)'.

The advocate advocated that Pakistan needed to have a joint strategy against that traitor and his followers, who are still trying to remain connected to him.

Anees further expressed that the people of Pakistan expect that on the day of deliverance, MQM will call on the government, the leadership and the establishment to take legal action against the traitor and show their willingness to get rid of that menace once and for all.

On the occasion, MQM-Pakistan's leader Amir Khan did not call for legal action against Altaf, however, reiterated complete separation of the party’s politics with the party’s London leadership.

Revealing the agenda of the conference, he maintained that ways to end corruption and strategy against anti-state elements would also come under discussion.

"We plan to bring everyone on the same page on matters of empowering the municipal system in the whole country, not just Karachi or Sindh," he said.

"We have invited the PSP to this conference, along with other parties, so that we could sit together and come up with a joint strategy to defeat all of Pakistan's problems," Khan said.

Expressing pleasure over PSP's agreement to show up at the conference, he said that the party would also approach MQM-Haqiqi — another splinter of the previously combined MQM.

 The MQM leader said that Pakistan Tehreek-i-Insaf and PPP have also been invited to attend the conference.

It bears mentioning that August 22 marks the climax of Altaf Hussain's anti-Pakistan diatribe when the leader in self-exile referred to Pakistan 'a cancer for entire world, last year.

The speech led to local leadership of MQM, find a different route than Hussain's ultimately causing split in the party with Farooq Sattar becoming the head of MQM-Pakistan faction.

Haider Ali

The writer is a civil servant.


Rupee gains massive recovery against US dollar after SBP relaxes rules for banks

KARACHI – The Pakistani rupee experienced a significant surge in its value in the open market against the dollar.

This surge came after a recent directive from the State Bank of Pakistan (SBP), allowing banks to purchase dollars at the interbank market rate for international card payments. The objective of this move was to narrow the exchange rate gap between the official and informal markets.

According to the Exchange Companies Association of Pakistan, the currency market witnessed the dollar being traded at Rs298, compared to its previous day’s closing rate of 311.

The SBP’s decision was influenced by the International Monetary Fund’s demand for Pakistan to stabilize its currency market before resuming a $6.5 billion bailout program.

In a circular, the central bank stated, “In response to the feedback received from various stakeholders, Authorized Dealers are now permitted to buy USD from the Interbank market to settle card-based cross border transactions with international payment schemes (IPS).”

Market analysts had predicted a decline in the value of the rupee following the implementation of these new guidelines.

Zafar Paracha, the General Secretary of the ECAP, expressed that the SBP’s decision was timely and appropriate. He anticipated that it would lead to a decrease of 20 to 25 rupees in the open market currency rate. Paracha also noted that aligning the rates in the official and informal markets would bolster remittance inflows.

Pracha further emphasized that significant disparities in rates between the official and informal markets encourage transactions outside of the official banking system.

Today's gold rates in Pakistan – June 1, 2023

KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs 229,000 on Thursday. The price of 10 grams of 24k gold was recorded at Rs197,620.   

Likewise, 10 grams of 22k gold were being traded for Rs181,150 while a single tola of 22-karat gold was being sold at Rs 211,290.

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 229,000 PKR 2125
Karachi PKR 229,000 PKR 2125
Islamabad PKR 229,000 PKR 2125
Peshawar PKR 229,000 PKR 2125
Quetta PKR 229,000 PKR 2125
Sialkot PKR 229,000 PKR 2125
Attock PKR 229,000 PKR 2125
Gujranwala PKR 229,000 PKR 2125
Jehlum PKR 229,000 PKR 2125
Multan PKR 229,000 PKR 2125
Bahawalpur PKR 229,000 PKR 2125
Gujrat PKR 229,000 PKR 2125
Nawabshah PKR 229,000 PKR 2125
Chakwal PKR 229,000 PKR 2125
Hyderabad PKR 229,000 PKR 2125
Nowshehra PKR 229,000 PKR 2125
Sargodha PKR 229,000 PKR 2125
Faisalabad PKR 229,000 PKR 2125
Mirpur PKR 229,000 PKR 2125


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