$12b for airports; India comes up with massive aviation plan for future

Web Desk 12:14 AM | 21 Mar, 2023
$12b for airports; India comes up with massive aviation plan for future
Source: Photo by Brett Sayles

NEW DELHI - India will spend a whopping 980 billion rupees ($12 billion) over the next two years on airports as the country prepares for welcoming tourists ready to board planes after the pandemic. 

India aims to boost the number of airports to 220 by 2025 from the current 148. Fr the futuristic vision, private builders will invest about $9 billion and state-run Airports Authority of India will invest the rest.

The refurbishing involves greenfield projects, new terminals and the renovation of existing facilities to provide state of the art facilities to all those who are ready to fly off to far off places or land in India as the Covid-19 pandemic has finally subsided, Bloomberg reports.

The news comes weeks after India’s famous airline, Air India stunned the aviation world by placing orders for whopping 470 Boeing and Airbus passenger jets.

AirIndia is country’s largest international airline and it has made headlines with the purchase of 220 Boeing aircraft valued at $34bn and 250 passenger jets from manufacturer Airbus.

The mind bending deal is Airbus’ third-largest sale of all time, in dollar value, and its second of all time in terms of quantity.

The deal is so big that even the US President Joe Biden termed the agreement ‘historic’ and discussed it telephonically with Indian Prime Minister Narendra Modi. 

Air India is eyeing to capture the market dominated by middle-class Indians and is putting in efforts to expand its operations and modernise its fleet. The airline’s owner firm, Tata is also challenging its rival IndiGo on multiple fronts.

“India is going to be the world’s third-largest market in the aviation sector,” Modi said in conversation with Tata Sons Chairman Natarajan Chandrasekaran and French President Emmanuel Macron.

The premier said India will need more than 2,000 aircraft over the next 15 years and the deal would help meet the growing demand. On the other hand, Macron called the deal a “new success” and an opportunity to “develop new areas of cooperation with India”.

The Boeing order includes 190 737 Max aircraft, 20 of its 787s and 10 of its 777Xs while the total worth of the deal is unknown as Airbus has not disclosed it. An interesting aspect of the deal is that India can buy an additional 370 planes from the manufacturers, possibly taking the number of planes to 840.

Asia in general and India in particular has seen a rising demand for air travel fueled by hosts of factors including the growth of middle class that now prefers air travel for leisure and work. 

Web Desk
Web Desk

Daily Pakistan Global Web Desk


Today's currency exchange rates in Pakistan - Dollar, Euro, Pound, Riyal rates on June 3, 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 June 03, 2023 (Saturday).

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

Currency Symbol Buying Selling
US Dollar ‎USD 298.9 302.15
Euro EUR 321 325
UK Pound Sterling GBP 375.5 380
U.A.E Dirham AED 82 83
Saudi Riyal SAR 80 81.2
Australian Dollar AUD 202 204
Bahrain Dinar BHD 758.24 766.24
Canadian Dollar CAD 228 230
China Yuan CNY 40.18 40.58
Danish Krone DKK 41.16 41.56
Hong Kong Dollar HKD 36.39 36.74
Indian Rupee INR 3.45 3.56
Japanese Yen JPY 2 2.08
Kuwaiti Dinar KWD 927.05 936.05
Malaysian Ringgit MYR 61.94 62.54
New Zealand Dollar NZD 173.16 175.16
Norwegians Krone NOK 25.67 25.97
Omani Riyal OMR 740.5 748.5
Qatari Riyal ‎QAR 78.37 79.07
Singapore Dollar SGD 220 222
Swedish Korona SEK 26.36 26.66
Swiss Franc CHF 314.07 316.57
Thai Bhat THB 8.21 8.36

Today's gold rates in Pakistan | gold price in Pakistan – June 4, 2023

Gold Rate In Pakistan Today:

KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs 230,800 on Sunday. The price of 10 grams of 24k gold was recorded at Rs197,190.   

Likewise, 10 grams of 22k gold were being traded for Rs180,756 while a single tola of 22-karat gold was being sold at Rs 210,832.

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.

Gold Price in Pakistan: Lahore, Karachi, Islamabad

City Gold Silver
Lahore PKR 230,800 PKR 2125
Karachi PKR 230,800 PKR 2125
Islamabad PKR 230,800 PKR 2125
Peshawar PKR 230,800 PKR 2125
Quetta PKR 230,800 PKR 2125
Sialkot PKR 230,800 PKR 2125
Attock PKR 230,800 PKR 2125
Gujranwala PKR 230,800 PKR 2125
Jehlum PKR 230,800 PKR 2125
Multan PKR 230,800 PKR 2125
Bahawalpur PKR 230,800 PKR 2125
Gujrat PKR 230,800 PKR 2125
Nawabshah PKR 230,800 PKR 2125
Chakwal PKR 230,800 PKR 2125
Hyderabad PKR 230,800 PKR 2125
Nowshehra PKR 230,800 PKR 2125
Sargodha PKR 232,500 PKR 2125
Faisalabad PKR 232,500 PKR 2125
Mirpur PKR 232,500 PKR 2125


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