Ayaz Sadiq seeks removal of NA-129's RO over pre-poll rigging allegations

Usman Arshad 12:45 PM | 22 Jun, 2018
Ayaz Sadiq seeks removal of NA-129's RO over pre-poll rigging allegations
LAHORE - Former speaker of the National Assembly, Sardar Ayaz Sadiq, has demanded the removal of the 'controversial' Returning Officer (RO) of his constituency, NA-129.

In an application to the Election Commision of Pakistan, Ayaz said he would not accept the election results announced by 'biased' returning officer Ghulam Murtaza Uppal.

Ayaz asserted that the RO in question was biased and supporting his political opponent, Pakistan Tehreek-e-Insaf’s Aleem Khan.

The politician claimed that he was summoned in person by the RO during scrutiny of nomination papers but his opponent, Aleem Khan was given relaxation and was summoned in the wake of protest by PML-N.

The letter states that Aleem was sent back by the RO without any questioning to “continue with his campaign” whereas the PML-N leader was asked irrelevant and offensive questions regarding his trips abroad and work in his constituency.

The continuing of RO's working would be deemed as pre-poll rigging and party would react to it, the letter added.

Sadiq had defeated PTI Chairman Imran Khan in the 2013 elections from his home constituency of NA-122 (old delimitation) and also managed to defeat Aleem Khan in the 2015 by-election on the same seat after a cut-throat competition.

For one more time, he will be facing the real estate tycoon on July 25.


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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