PTI's Aleem Khan owns assets worth millions but negligible domestic business

Usman Arshad 01:24 PM | 22 Jun, 2018
PTI's Aleem Khan owns assets worth millions but negligible domestic business
LAHORE - Pakistan Tehreek-e-Insaf's president of central Punjab, Aleem Khan owns assets worth over Rs918 million, but a business estimated at merely Rs 90,000 in the country.

Aleem's nomination papers, submitted for NA-129 seat, show that former MPA held total assets worth Rs918,278,855 with personal property valued at more than Rs159 million; his ownership of shares is said to be worth more than Rs129.3 million.

Interestingly, his domestic business, according to the documents, is valued at a mere Rs90,000 whereas his foreign businesses amounts to over Rs8.1 million.

Aleem owns 43 registered companies in Pakistan and three outside the country. Moreover, he has almost a million rupees in cash as well as over Rs64 million in various banks.

The value of jewelry and vehicles owned by the PTI leader is almost Rs1 million and Rs34.7 million, respectively.

The real estate tycoon has listed the worth of furniture to be at almost Rs2 million.

As per the documents submitted to the RO, in the last three years, Khan earned more than Rs43.9 million in salaries and profit.

He submitted taxes of over Rs10 million in last three years. In the same time period, he undertook 23 foreign trips which cost over Rs2.1 million.

The PTI leader has also taken loans worth over Rs1.2 billion. The documents also reveal that the PTI leader took a loan worth almost Rs700 million from his own company.

Aleem Khan is intending to contest the upcoming general election from Lahore's NA-129 seat against former National Assembly Speaker Ayaz Sadiq.

The PTI leader is also facing an inquiry by the National Accountability Bureau with regards to his reported ownership of an offshore company as well as involvement with a private housing scheme in Lahore.


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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