LAHORE – Pakistan Muslim League-Nawaz (PML-N) President Shehbaz Sharif on Tuesday appeared before the Federal Investigation Agency (FIA) in a probe related to money laundering through a sugar mill owned by the Sharif family.
A five-member FIA team questioned the leader of opposition in National Assembly for half an hour, with Director FIA Punjab Zone-1 Dr Rizwan leading the high profile probe.
The investigation agency has also summoned Hamza Shehbaz on June 24.
On June 15, the Anti-Corruption Circle of FIA had directed Shehbaz to appear before the investigation team on June 22 along with relevant documents.
Shehbaz is accused of laundering money through Ramzan Sugar Mills and Al Arabiya Sugar Mills, while the family members of the PML-N leader are also nominated in the case, with allegations of money laundering involving about Rs25 billion and illegal hoarding of sugar.
The notice issued by FIA sent to Shehbaz stated that he was sent a questionnaire twice but did not respond.
“In December 2020, the FIA team submitted a five-point questionnaire. Then in January 2021 you were reminded. Later, you (Shehbaz Sharif) said that Ata Tarar will submit your answers but the answers were not submitted,” the notice stated.
It also revealed that a team of the FIA also interrogated Shehbaz when he was in jail in a case filed by National Accountability Bureau, but he fails to give satisfactory answer.
The notice further said that the PML-N bigwig will have to appear before the investigation team on June 22 to give reply.
On April 22, the Lahore High Court (LHC) granted bail to PML-N President Shehbaz Sharif in assets beyond means case.
A three-member bench comprising Justice Ali Baqar Najafi, Justice Aalia Neelum, and Justice Shahbaz Rizvi announced the judgment unanimously.
KARACHI – The Pakistani rupee on Tuesday continued its ascent, trading at less than Rs290 against the US dollar in the morning interbank market, primarily due to stringent measures in the financial sector.
The US dollar was valued at Rs289.78 around 9:48 am, as reported by the Forex Association of Pakistan, marking a decrease of Rs1.18 from the previous day’s closing rate of Rs290.86.
This ongoing rise in the value of the rupee follows the crackdown on illegal dollar trading initiated earlier this month, with strong support from the military.
In the open market, the rupee also made gains against the dollar, trading at Rs292 compared to the previous day’s rate of Rs293, according to the Exchange Companies Association of Pakistan.
Saad Bin Naseer, the director of the financial services platform Mettis Global, noted that this marked the 16th consecutive day of appreciation for the PKR, amounting to nearly a 6% increase.
Naseer attributed this surge primarily to administrative measures, stating that it seems the government’s crackdown on speculative elements contributing to rupee depreciation is having an effect.
He also suggested that if this trend persists and the Afghan border remains closed, the rupee could continue to appreciate in the future. However, he emphasized the importance of attracting foreign direct investment (FDI) into export-oriented sectors for long-term stability.
KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs 210,100 on Tuesday. The price of 10 grams of 24k gold was recorded at Rs180,130.
Likewise, 10 grams of 22k gold were being traded for Rs168,730 while a single tola of 22-karat gold was being sold at Rs196,807.
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.
|Lahore||PKR 210,100||PKR 2,587|
|Karachi||PKR 210,100||PKR 2,587|
|Islamabad||PKR 210,100||PKR 2,587|
|Peshawar||PKR 210,100||PKR 2,587|
|Quetta||PKR 210,100||PKR 2,587|
|Sialkot||PKR 210,100||PKR 2,587|
|Attock||PKR 210,100||PKR 2,587|
|Gujranwala||PKR 210,100||PKR 2,587|
|Jehlum||PKR 210,100||PKR 2,587|
|Multan||PKR 210,100||PKR 2,587|
|Bahawalpur||PKR 210,100||PKR 2,587|
|Gujrat||PKR 210,100||PKR 2,587|
|Nawabshah||PKR 210,100||PKR 2,587|
|Chakwal||PKR 210,100||PKR 2,587|
|Hyderabad||PKR 210,100||PKR 2,587|
|Nowshehra||PKR 210,100||PKR 2,587|
|Sargodha||PKR 210,100||PKR 2,587|
|Faisalabad||PKR 210,100||PKR 2,587|
|Mirpur||PKR 210,100||PKR 2,587|