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Chinese perfume giant announces $2 million investment in Pakistan

06:16 PM | 24 Jun, 2019
Chinese perfume giant announces $2 million investment in Pakistan
LAHORE – One of the largest Chinese manufacturers of fragrance and perfume Monday announced to invest US$2 million in chemical sectors to further explore direct foreign investment avenues in Pakistan.

The announcement by Guangzhou Rongshen Trading Company follows the attractive package of incentive offered by Prime Minister Imran Khan.

The Group's chairman, Ivan Jiang signed a memorandum of understanding with Faisalabad Industrial Estate Development and Management Company (FIEDMC) Chairman Mian Kashif Ashfaq, says a press release issued.

After signing the MoUs, Ivan Jiang told the local media that legal framework in Pakistan is sound and comprehensive.

Pakistan government has been already playing a good role to provide business friendly environment and security to Chinese companies, he added.

FIEDMC Chief Operating Officer Aamir Saleemi, on the occasion, said that they were an international chemicals supplier and his company intended to explore business and investment opportunities in Pakistan which had become an important investment destination for the Chinese businessmen and entrepreneurs after the launch of China Pakistan Economic Corridor (CPEC).

Daily Pakistan Global Web Desk

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PKR exchange rate to US dollar, Euro, Pound, Dirham, and Riyal - 21 Feb 2024

Pakistani currency remains stable against US dollar and other currencies in the open market on February 21, 2024 (Wednesday).

US Dollar rate in Pakistan

In the open market, the US dollar was being quoted at 279.6 for buying and 282.4 for selling.

Euro comes down to 300 for buying and 303 for selling while British Pound rate stands at 350.5 for buying, and 354 for selling.

UAE Dirham AED hovers at 76.15 whereas the Saudi Riyal saw slight increase, with new rates at 74.35.

Today’s currency exchange rates in Pakistan - 21 Feb 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 279.6 282.4
Euro EUR 300 303
UK Pound Sterling GBP 350.5 354
U.A.E Dirham AED 76.15 76.9
Saudi Riyal SAR 74.35 75.1
Australian Dollar AUD 181 183
Bahrain Dinar BHD 743.32 751.32
Canadian Dollar CAD 207 209
China Yuan CNY 38.89 39.29
Danish Krone DKK 40.38 40.78
Hong Kong Dollar HKD 35.74 36.09
Indian Rupee INR 3.37 3.48
Japanese Yen JPY 2.10 2.18
Kuwaiti Dinar KWD 902.41 911.41
Malaysian Ringgit MYR 58.6 59.2
New Zealand Dollar NZD 171.68 173.68
Norwegians Krone NOK 26.43 26.73
Omani Riyal OMR 725.96 733.96
Qatari Riyal QAR 76.76 77.46
Singapore Dollar SGD 207 209
Swedish Korona SEK 26.53 26.83
Swiss Franc CHF 316.9 319.4
Thai Bhat THB 7.93 8.08

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