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Pakistan to mortgage airports, motorways to issue Sukuk bonds

03:00 PM | 23 Jun, 2021
Pakistan to mortgage airports, motorways to issue Sukuk bonds

ISLAMABAD – The Pakistan government will mortgage the country's major airports and road network and issuing Sukuk bonds.

This was announced by Federal Information Minister Fawad Chaudhry after a cabinet meeting held on Tuesday.

The information minister said the cabinet approved the proposal of floating Sukuk bond with the objective to promote Islamic banking industry.

The summary to mortgage government assets for large-scale borrowing through issuance of Sukuk bonds was approved by the federal cabinet.

According to the summary, Sukuk bonds will be issued and loans will be taken out, keeping Islamabad Expressway, Islamabad-Peshawar Motorway, Pinid Bhattia-Lahore motorway section, and airports of Lahore, Islamabad and Multan as collateral.

It will be possible to get a loan at a lower interest rate than other sources by mortgaging government assets.

The bureaucracy has now added major airports and motorways and the Islamabad Expressway to the list instead of the Islamabad Club.

On January 26, the federal cabinet had rejected a plan to mortgage the f-9 park in Islamabad and had given instructions to prepare a mortgage plan for the 244-acre Islamabad Club.

Daily Pakistan Global Web Desk

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US Dollar, Euro, Dirham, Pound, Riyal Rate in Pakistan Today - Currency Rates 23 July 2024

Pakistani currency rates against US Dollar and other currencies on July 23, 2024 (Tuesday) in open market.

USD to PKR Rate Today

US dollar was being quoted at 279.25 for buying and 280.70 for selling. Euro's buying rate remains stable at 354.5 and selling rate is 358.35.

British Pound rate is 354.75 for buying, and 358.25 for selling. UAE Dirham AED was at 76.4 and Saudi Riyal lowered to 73.60.

Currency Rates Today

Currency Symbol Buying Selling
US Dollar USD 279.15 280.85
Euro EUR 301.25 303.25
UK Pound Sterling GBP 354.75 358.25
U.A.E Dirham AED 76.40 77.15
Saudi Riyal SAR 73.60 74.32
Australian Dollar AUD 184.75 186.55
Bahrain Dinar BHD 741.15 749.15
Canadian Dollar CAD 203.50 205.50
China Yuan CNY 38.35 38.75
Danish Krone DKK 40.05 40.45
Hong Kong Dollar HKD 35.70 36.05
Indian Rupee INR 36.05 36.05
Japanese Yen JPY 1.91 1.99
Kuwaiti Dinar KWD 908.25 917.35
Malaysian Ringgit MYR 58.95 59.75
New Zealand Dollar NZD 169.24 171.24
Norwegians Krone NOK 26.04 26.34
Omani Riyal OMR 722.87 730.89
Qatari Riyal QAR 76.39 77.09
Singapore Dollar SGD 202.00 204.00
Swedish Korona SEK 26.40 26.70
Swiss Franc CHF 309.05 311.55
Thai Bhat THB 7.50 7.65

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