Search

ADB okays $300m loan for Pakistan’s capital markets

Web Desk 09:37 PM | 22 Mar, 2022
ADB okays $300m loan for Pakistan’s capital markets
Source: Asian Development Bank

ISLAMABAD – The Asian Development Bank has approved a $300 loan to boost private investment in Pakistan, and to mobilise domestic resources to finance sustainable growth.

The Philippines-based lender approved the loan under Third Capital Market Development Program to develop institutional and regulatory reforms. The program aimed to amplify institutional investor demand and increase the range of alternative financial instruments, including derivatives and commodity futures.

ADB's Director General for Central and West Asia Yevgeniy Zhukov said, “For several years ADB has been Pakistan’s lead development partner in supporting the evolution of its capital markets.”

Zhukov said the new programme will help mobilize more domestic resources which support the government’s efforts to finance sustainable growth and respond effectively to crises and will help make the country’s capital markets more vigorous.

Pakistan’s finance sector increases the risk of the country not being able to withstand financial shocks and periods of uncertainty, it said.

Meanwhile, Minister for Economic Affairs Omar Ayub Khan commended $300 million loan by Asian Development Bank. Khan acknowledged the support of the Philippines-based lender.

He said the programme will help to mobilize financial resources for productive investment, especially by the private sector, and facilitate economic growth by developing the bond and equity capital markets.

Web Desk
Web Desk

Daily Pakistan Global Web Desk

Advertisement

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 January 26, 2023 (Thursday).

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

Currency Symbol Buying Selling
US Dollar ‎USD 253.4 255.15
Euro EUR 274 276.6
UK Pound Sterling GBP 311 314
U.A.E Dirham AED 68.7 69.3
Saudi Riyal SAR 66.4 67
Australian Dollar AUD 176 178
Bahrain Dinar BHD 615.68 620.18
Canadian Dollar CAD 186 188
China Yuan CNY 34.12 34.37
Danish Krone DKK 33.83 34.18
Hong Kong Dollar HKD 29.52 29.87
Indian Rupee INR 2.81 2.89
Japanese Yen JPY 2.5 2.54
Kuwaiti Dinar KWD 756.69 761.69
Malaysian Ringgit MYR 52.59 53.04
New Zealand Dollar NZD 148.33 149.53
Norwegians Krone NOK 22.43 22.73
Omani Riyal OMR 600.37 604.87
Qatari Riyal ‎QAR 63.5 64
Singapore Dollar SGD 178 179.3
Swedish Korona SEK 21.78 22.08
Swiss Franc CHF 250.23 251.98
Thai Bhat THB 6.98 7.08

KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs190,900 on Thursday. The price of 10 grams of 24k gold was recorded at Rs163,670.

Likewise, 10 grams of 22k gold were being traded for Rs150,300 while a single tola of 22-karat gold was being sold at Rs 173,200.

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 190,900 PKR 2,100
Karachi PKR 190,900 PKR 2,100
Islamabad PKR 190,900 PKR 2,100
Peshawar PKR 190,900 PKR 2,100
Quetta PKR 190,900 PKR 2,100
Sialkot PKR 190,900 PKR 2,100
Attock PKR 190,900 PKR 2,100
Gujranwala PKR 190,900 PKR 2,100
Jehlum PKR 190,900 PKR 2,100
Multan PKR 190,900 PKR 2,100
Bahawalpur PKR 190,900 PKR 2,100
Gujrat PKR 190,900 PKR 2,100
Nawabshah PKR 190,900 PKR 2,100
Chakwal PKR 190,900 PKR 2,100
Hyderabad PKR 190,900 PKR 2,100
Nowshehra PKR 190,900 PKR 2,100
Sargodha PKR 190,900 PKR 2,100
Faisalabad PKR 190,900 PKR 2,100
Mirpur PKR 190,900 PKR 2,100

Advertisement

Follow us on Facebook

Follow us on Twitter

Sign up for Newsletter