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.
Minister @OmarAyubKhan appreciated approval of $ 300 million by @ADB_HQ under Capital Market Development Program (SP-2). This program aims to support demand and supply measures to broaden and deepen the financial system in Pakistan with strong legal and regulatory framework. pic.twitter.com/NektyZF9wG
— Economic Affairs Division, Government of Pakistan (@eadgop) March 22, 2022
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.
Daily Pakistan Global Web Desk
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 |
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