ISLAMABAD – Defense Minister Khawaja Asif said Saudi Arabia would be depositing funds worth $2 billion in the State Bank of Pakistan (SBP) in order to help the cash-strapped South Asia country to revive the IMF loan programme stalled since September last.
The cash-strapped country is scrambling to complete the ninth review to secure $1.1 billion loan from the global lender but clouds of uncertainty overhang despite meeting multiple condition, including free floating of local currency and massive taxes on electricity.
In line with the IMF conditions, Pakistan has already secured assurance of $2 billion from Saudi Arabia and $1 billion from the UAE.
“The IMF asked them (Saudi Arabia) to give that commitment to them. They (Saudi Arabia) have already given that, that means that they will pay [the funds to Pakistan],” Asif told Arab News in an interview on Thursday.
He said the kingdom will prove the funds before the IMF programme. The global lender is not giving Pakistan any big amount, he said, adding: “It is just a program which we have to complete till 30th of June.”
The IMF bailout program is set to expire on June 30, which has prompted the PDM government to explore other options to avert default.
Asif said that Pakistan is receiving assistance from UAE, Saudi Arabia, China and some other sources, hoping that the country would manage to overcome the economic crisis.
Responding to a question about the return of his Pakistan Muslim League-Nawaz (PML-N) supremo Nawaz Sharif, he said efforts were being made to get the former prime minister’s conviction in graft cases overturn before his return to Pakistan from London.
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 September 30, 2023 (Saturday).
Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency | Symbol | Buying | Selling |
US Dollar | USD | 286.05 | 289.15 |
Euro | EUR | 307 | 310 |
UK Pound Sterling | GBP | 353.3 | 357 |
U.A.E Dirham | AED | 80 | 80.8 |
Saudi Riyal | SAR | 76 | 76.75 |
Australian Dollar | AUD | 189 | 191 |
Bahrain Dinar | BHD | 778.84 | 786.84 |
Canadian Dollar | CAD | 220 | 222.2 |
China Yuan | CNY | 40.24 | 40.64 |
Danish Krone | DKK | 41.83 | 42.23 |
Hong Kong Dollar | HKD | 37.93 | 38.28 |
Indian Rupee | INR | 3.57 | 3.68 |
Japanese Yen | JPY | 1.63 | 1.71 |
Kuwaiti Dinar | KWD | 945.27 | 954.27 |
Malaysian Ringgit | MYR | 62.62 | 63.22 |
New Zealand Dollar | NZD | 174.58 | 176.58 |
Norwegians Krone | NOK | 27.87 | 28.17 |
Omani Riyal | OMR | 762.31 | 770.31 |
Qatari Riyal | QAR | 80.69 | 81.39 |
Singapore Dollar | SGD | 208 | 210 |
Swedish Korona | SEK | 26.62 | 26.92 |
Swiss Franc | CHF | 323.01 | 325.51 |
Thai Bhat | THB | 8.12 | 8.27 |
KARACHI - The price of a single tola of 24-karat gold in Pakistan is Rs 205,600 on Saturday.
The price of 10 grams of 24k gold was recorded at Rs 176,270. Likewise, 10 grams of 22k gold were being traded for Rs168,730 while a single tola of 22-karat gold was being sold at Rs196,807.
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 205,600 | PKR 2,450 |
Karachi | PKR 205,600 | PKR 2,450 |
Islamabad | PKR 205,600 | PKR 2,450 |
Peshawar | PKR 205,600 | PKR 2,450 |
Quetta | PKR 205,600 | PKR 2,450 |
Sialkot | PKR 205,600 | PKR 2,450 |
Attock | PKR 205,600 | PKR 2,450 |
Gujranwala | PKR 205,600 | PKR 2,450 |
Jehlum | PKR 205,600 | PKR 2,450 |
Multan | PKR 205,600 | PKR 2,450 |
Bahawalpur | PKR 205,600 | PKR 2,450 |
Gujrat | PKR 205,600 | PKR 2,450 |
Nawabshah | PKR 205,600 | PKR 2,450 |
Chakwal | PKR 205,600 | PKR 2,450 |
Hyderabad | PKR 205,600 | PKR 2,450 |
Nowshehra | PKR 205,600 | PKR 2,450 |
Sargodha | PKR 205,600 | PKR 2,450 |
Faisalabad | PKR 205,600 | PKR 2,450 |
Mirpur | PKR 205,600 | PKR 2,450 |
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