NEW YORK – IMF Managing Director Karistalina Georgieva and World Bank Group President David Malpass have expressed sympathies as Prime Minister Shehbaz Sharif utilized sideline meetings of the UNGA to put the spotlight on devastating floods in Pakistan.
The top financial institution's officials pledged commitment to support the flood-hit nation for rehabilitation and reconstruction of infrastructure.
The premier departed for New York to represent Pakistan at United Nations General Assembly (UNGA) and will address the session, where his speech will focus on challenges faced by South Asian country in wake of the catastrophic floods that wreak havoc across the country.
IMF Managing Director Karistalina Gerogieva expressed her deep sympathy over the devastation caused by the floods during meeting with PM Shehbaz. Gerogieva called meeting with PM Shehbaz constructive, saying IMF will continue to support Pakistan under the current program to help ease the pain of the people.
In his meeting with World Bank Group President David R. Malpass, the two sides shed light on to strengthen country’s infrastructure, agriculture, rural and urban development, social service, as well as economic growth.
PM commended World Bank’s partnership with Islamabad and apprised him of the government’s steps to introduce economic policies focused on strengthening the economy, price stability and maintaining the sustainability of the external and fiscal sectors.
Reports claimed that the premier also called for additional investment and financial resources from the world to mitigate the devastating impact of climate change.
He also expressed the World Bank Group’s readiness to support Pakistan in its reconstruction and rehabilitation endeavors and committed to repurposing $850 million immediately to help Pakistan with its flood relief efforts.
The two sides also agreed to continue working together to strengthen governance and service delivery in Pakistan through institutional reforms.
Pakistani rupee's value remained stable against US dollar, Euro, Pound, Dirham, Riyal and other currencies in the open market.
On Monday, the US dollar was being quoted at 285.15 for buying and 287.95 for selling.
Euro rate stands at 309.9 for buying and 310.5 for selling. British Pound GBP rate stands at 359.4 for buying, and 360.05 for selling.
UAE Dirham AED currently hovers around 77.45 while rate of Saudi Riyal stands at 75.82.
|UK Pound Sterling||GBP||359.4||360.05|
|Hong Kong Dollar||HKD||36.38||36.48|
|New Zealand Dollar||NZD||173.44||175.44|
The gold remained under pressure as the precious metal moved down despite an upward trend in the international market.
On the first day of the week, the price of a single tola of 24-karat gold stands at Rs217,000 and 10 grams of 24k gold costs Rs186,043
A single tola of 22-karat gold costs Rs170,539, while 21 karat rate for each tola is Rs. 192,325 and the price of 18k gold is Rs164,850.
In the global market, gold prices hover at around $2086, gaining $14.44 on Monday.
|Lahore||PKR 217,000||PKR 2,720|
|Karachi||PKR 217,000||PKR 2,720|
|Islamabad||PKR 217,000||PKR 2,720|
|Peshawar||PKR 217,000||PKR 2,720|
|Quetta||PKR 217,000||PKR 2,720|
|Sialkot||PKR 217,000||PKR 2,720|
|Attock||PKR 217,000||PKR 2,720|
|Gujranwala||PKR 217,000||PKR 2,720|
|Jehlum||PKR 217,000||PKR 2,720|
|Multan||PKR 217,000||PKR 2,720|
|Bahawalpur||PKR 217,000||PKR 2,720|
|Gujrat||PKR 217,000||PKR 2,720|
|Nawabshah||PKR 217,000||PKR 2,720|
|Chakwal||PKR 217,000||PKR 2,720|
|Hyderabad||PKR 217,000||PKR 2,720|
|Nowshehra||PKR 217,000||PKR 2,720|
|Sargodha||PKR 217,000||PKR 2,720|
|Faisalabad||PKR 217,000||PKR 2,720|
|Mirpur||PKR 217,000||PKR 2,720|