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EU mission arrives in Pakistan to assess action on international conventions before renewing GSP+ status

11:25 PM | 22 Jun, 2022
EU mission arrives in Pakistan to assess action on international conventions before renewing GSP+ status
Source: PID

ISLAMABAD – A European Union (EU) monitoring mission arrived in Pakistan on Wednesday to assess the implementation of 27 international conventions the country is signatory to.

Pakistan’s GSP+ status will be renewed beyond 2023 once the monitoring mission confirms the South Asian country is complying with all 27 international conventions.

GSP+ is a special trade arrangement offered to developing economies by European nations in return for their commitment to implement 27 international conventions on human rights, environmental protection and governance.

On September 21, 2021, in its review of the GSP+ scheme, the European Commission introduced six new conventions, pertaining in particular to children’s rights, environmental safety and persons with disabilities.

Last April, the European Parliament moved a resolution against Pakistan, seeking an immediate review of its eligibility for GSP+ status over what it called violence and discrimination against religious minorities and other vulnerable groups, as well as a crackdown on media. The EU ambassador to Islamabad said last October the South Asian nation would have to “redouble” its efforts to meet international rights conventions in order to continue to be a part of GSP+.

The current GSP framework will come to an end in December 2023.

“The GSP scheme is all about the EU’s and Pakistan’s joint commitment to sustainable development,” High Representative/Vice President Josep Borrell Fontelles said in a statement.

“GSP+ has been very beneficial for Pakistani businesses, increasing their exports to the EU market by 65 percent since the country joined GSP+ in 2014,” the statement added.

“The European Single Market, with over 440 million consumers, is Pakistan’s most important destination. Pakistan exports worth EUR 5.4 billion (approx. PKR 1.2 trillion), namely garments, bedlinen, terry towels, hosiery, leather, sports and surgical goods.”

During the mission, the EU team will hold meetings with the government, the UN Country Team, the International Labour Organization (ILO) and business and civil society representatives as well as other stakeholders. The findings of the mission will be part of the next GSP report, due to be presented to the European Parliament and the Council toward the end of 2022.

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Rupee recovers marginally against US dollar, Euro, Pound, Dirham and Riyal; check forex rates

Pakistani rupee saw marginal improvement against US dollar as it appreciated in the open bank market.

Dollar Rate in Pakistan Today

On Thursday, the US dollar moved up and was being quoted at 285.3 for buying and 288.15 for selling.

Euro moves down to 311 for buying and 314 for selling. British Pound rate stands at 358.5 for buying, and 361.5 for selling.

UAE Dirham AED stands at 78 whereas the Saudi Riyal rate stands at 76.20.

Today's currency exchange rates in Pakistan - 30 November 2023

Currency Symbol Buying Selling
US Dollar ‎USD 285.3 288.15
Euro EUR 311 314
UK Pound Sterling GBP 358.5 361.5
U.A.E Dirham AED 78 78.7
Saudi Riyal SAR 76.2 77
Australian Dollar AUD 187.2 189
Bahrain Dinar BHD 759.67 767.67
Canadian Dollar CAD 209 211
China Yuan CNY 39.58 39.98
Danish Krone DKK 41.38 41.78
Hong Kong Dollar HKD 36.63 36.98
Indian Rupee INR 3.39 3.5
Japanese Yen JPY 1.49 1.56
Kuwaiti Dinar KWD 926.7 935.7
Malaysian Ringgit MYR 60.38 60.98
New Zealand Dollar NZD 173.44 175.44
Norwegians Krone NOK 26.25 26.55
Omani Riyal OMR 741.26 749.26
Qatari Riyal ‎QAR 77.63 78.33
Singapore Dollar SGD 211 213
Swedish Korona SEK 26.93 27.23
Swiss Franc CHF 325.9 328.4
Thai Bhat THB 8.23 8.38

Gold rates in Pakistan increase; Check today’s gold rates 30 November 2023

KARACHI – The gold price continues to climb up in the local market in line of upward trend in international market.

Gold Rates in Pakistan Today - 30 November 2023

On Thursday, the single tola of 24 Karat gold was available at Rs218,600, and the price for 10-gram gold reached Rs187,420.

Meanwhile, the 22 Karat Gold price stands at Rs200,380, 21 karat rate for each tola is Rs191,275 and 18k gold rate hoveres around Rs163,950.

In international market, the price of precious metal hovers around $2,045 per ounce.

Today Gold Rate in Pakistan

City Gold Silver
Lahore PKR 218,600 PKR 2,675
Karachi PKR 218,600 PKR 2,675
Islamabad PKR 218,600 PKR 2,675
Peshawar PKR 218,600 PKR 2,675
Quetta PKR 218,600 PKR 2,675
Sialkot PKR 218,600 PKR 2,675
Attock PKR 218,600 PKR 2,675
Gujranwala PKR 218,600 PKR 2,675
Jehlum PKR 218,600 PKR 2,675
Multan PKR 218,600 PKR 2,675
Bahawalpur PKR 218,600 PKR 2,675
Gujrat PKR 218,600 PKR 2,675
Nawabshah PKR 218,600 PKR 2,675
Chakwal PKR 218,600 PKR 2,675
Hyderabad PKR 218,600 PKR 2,675
Nowshehra PKR 218,600 PKR 2,675
Sargodha PKR 218,600 PKR 2,675
Faisalabad PKR 218,600 PKR 2,675
Mirpur PKR 218,600 PKR 2,675

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