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Erdogan hints at coalition govt for failure in upcoming polls

Associated Press of Pakistan 09:51 AM | 22 Jun, 2018
Erdogan hints at coalition govt for failure in upcoming polls
ANKARA - Turkish President Recep Tayyip Erdogan has said he does not rule out forming a coalition in parliament if his ruling-party led alliance does not win an overall majority in tight polls this weekend.

Erdogan's Justice and Development Party (AKP) -- running together with its junior partner the Nationalist Movement Party (MHP) in the so-called People's Alliance -- is expected to win the most seats in Sunday's dual parliamentary and presidential polls.

But some analysts believe the AKP-led alliance will fail to win a majority in the 600-seat parliament in the face of a strong challenge by the opposition, which has formed its own election pact.

"If the People's Alliance gets over 300 seats, the issue of (coalitions) is finished," Erdogan said in an interview with Kral FM and Kral Pop Radio late Wednesday.

"If it is under 300, then we could seek a coalition. That's a separate matter," Erdogan added.

The comments were the first clear acknowledgement in the campaign by Erdogan that his election alliance may not be able to win an overall majority in parliament, however, Erdogan did not indicate with which party he could form a coalition or how difficult the task could be.

"(Coalitions) can be formed. But the possibility of one coming into existence is very, very small," he added.

The main opposition Republican People's Party (CHP) has allied with the Islamic Saadet (Felicity) Party and the new Iyi (Good) Party for the elections. All these parties are currently staunchly anti-Erdogan.

The pro-Kurdish Peoples' Democratic Party (HDP) is not part of any alliance but despises Erdogan who it accuses of launching a crackdown on its leaders and members.

After the polls, Turkey's parliamentary system will transform into an executive presidency following constitutional changes approved by a referendum in April 2017.

These changes will expand the powers of the president but also increase the size of Turkey's parliament from the current 550 MPs to 600.

Losing the parliamentary majority would be seen as a blow to Erdogan, who also faces presidential elections on the same day.

The AKP lost its overall majority once before, in June 2015 legislative elections, and Erdogan then made clear he had no patience for coalitions. He called new elections for November that year where the majority was duly regained.

Associated Press of Pakistan
Associated Press of Pakistan

Associated Press of Pakistan Corporation (APPC) - Pakistan's Premier News Agency

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Today's currency exchange rates in Pakistan - Dollar, Euro, Pound, Riyal rates on May 29, 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 May 29, 2023 (Monday).

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

Currency Symbol Buying Selling
US Dollar ‎USD 307.9 311.15
Euro EUR 330 333
UK Pound Sterling GBP 381 384.5
U.A.E Dirham AED 84.6 85.4
Saudi Riyal SAR 82.6 83.4
Australian Dollar AUD 201 203
Bahrain Dinar BHD 762.21 770.21
Canadian Dollar CAD 225.5 227.5
China Yuan CNY 40.6 41
Danish Krone DKK 41.39 41.78
Hong Kong Dollar HKD 36.6 36.95
Indian Rupee INR 3.47 3.58
Japanese Yen JPY 2.15 2.20
Kuwaiti Dinar KWD 932.2 941.2
Malaysian Ringgit MYR 62.42 63.02
New Zealand Dollar NZD 176.98 178.98
Norwegians Krone NOK 26.14 26.44
Omani Riyal OMR 744.58 752.57
Qatari Riyal ‎QAR 78.73 79.43
Singapore Dollar SGD 215 217
Swedish Korona SEK 26.73 27.03
Swiss Franc CHF 316.34 318.84
Thai Bhat THB 8.28 8.43

Today's gold rates in Pakistan – May 29 2023

KARACHI - The price of a single tola of 24-karat gold in Pakistan is Rs 235,800 on Monday. The price of 10 grams of 24k gold was recorded at Rs202,160.   

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 235,800 PKR 2,505
Karachi PKR 235,800 PKR 2,505
Islamabad PKR 235,800 PKR 2,505
Peshawar PKR 235,800 PKR 2,505
Quetta PKR 235,800 PKR 2,505
Sialkot PKR 235,800 PKR 2,505
Attock PKR 235,800 PKR 2,505
Gujranwala PKR 235,800 PKR 2,505
Jehlum PKR 235,800 PKR 2,505
Multan PKR 235,800 PKR 2,505
Bahawalpur PKR 235,800 PKR 2,505
Gujrat PKR 235,800 PKR 2,505
Nawabshah PKR 235,800 PKR 2,505
Chakwal PKR 235,800 PKR 2,505
Hyderabad PKR 235,800 PKR 2,505
Nowshehra PKR 235,800 PKR 2,505
Sargodha PKR 235,800 PKR 2,505
Faisalabad PKR 235,800 PKR 2,505
Mirpur PKR 235,800 PKR 2,505

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