DOHA – Three men, including two Pakistani nationals, who were hired for security job for the FIFA World Cup in Qatar, were imprisoned for five months in Qatar following a dispute over unpaid salaries, it emerged on Saturday.
Reports said Pakistan’s Shakir Ullah and Zafar Iqbal, and an unidentified Indian colleague were jailed for six months and fined 10,000 Qatari riyals each for staying in Qatar despite termination of the employment contract three months early a local firm, Stark Security Services.
The company had laid off hundreds of employees and told them to receive their final salary, vacate their accommodation, and warned of action in case of refusal.
The two Pakistanis and the Indian national did not return to their homeland as they demanded the company to pay for their unpaid wages.
Reports said the company had hired people from different countries under a six-month contract, which promised monthly salary of 2,700 riyals in return for seven-day working weeks, food and accommodation.
“The contracts stipulated a notice period of “six months post date of joining.” Qatari law states contracts that are terminated early require a one-month notice period,” read the Arab News’ report.
An official of the Qatari government told international media outlet that that the Stark Security Services had violated labour laws in the Gulf state and would face legal repercussions, but added that “a resolution was swiftly reached between the company and its employees, whereby the workers were remunerated in full for their services and their contracts were concluded in accordance with their specified terms.”
The spokesperson added: “Qatar does not arrest or deport workers for seeking to resolve their employment disputes. The rights of all individuals working in Qatar are upheld and protected through the fair and just application of legal due process.”
KARACHI – The Pakistani rupee experienced a significant surge in its value in the open market against the dollar.
This surge came after a recent directive from the State Bank of Pakistan (SBP), allowing banks to purchase dollars at the interbank market rate for international card payments. The objective of this move was to narrow the exchange rate gap between the official and informal markets.
According to the Exchange Companies Association of Pakistan, the currency market witnessed the dollar being traded at Rs298, compared to its previous day’s closing rate of 311.
The SBP’s decision was influenced by the International Monetary Fund’s demand for Pakistan to stabilize its currency market before resuming a $6.5 billion bailout program.
In a circular, the central bank stated, “In response to the feedback received from various stakeholders, Authorized Dealers are now permitted to buy USD from the Interbank market to settle card-based cross border transactions with international payment schemes (IPS).”
Market analysts had predicted a decline in the value of the rupee following the implementation of these new guidelines.
Zafar Paracha, the General Secretary of the ECAP, expressed that the SBP’s decision was timely and appropriate. He anticipated that it would lead to a decrease of 20 to 25 rupees in the open market currency rate. Paracha also noted that aligning the rates in the official and informal markets would bolster remittance inflows.
Pracha further emphasized that significant disparities in rates between the official and informal markets encourage transactions outside of the official banking system.
KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs 229,000 on Thursday. The price of 10 grams of 24k gold was recorded at Rs197,620.
Likewise, 10 grams of 22k gold were being traded for Rs181,150 while a single tola of 22-karat gold was being sold at Rs 211,290.
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.
|Lahore||PKR 229,000||PKR 2125|
|Karachi||PKR 229,000||PKR 2125|
|Islamabad||PKR 229,000||PKR 2125|
|Peshawar||PKR 229,000||PKR 2125|
|Quetta||PKR 229,000||PKR 2125|
|Sialkot||PKR 229,000||PKR 2125|
|Attock||PKR 229,000||PKR 2125|
|Gujranwala||PKR 229,000||PKR 2125|
|Jehlum||PKR 229,000||PKR 2125|
|Multan||PKR 229,000||PKR 2125|
|Bahawalpur||PKR 229,000||PKR 2125|
|Gujrat||PKR 229,000||PKR 2125|
|Nawabshah||PKR 229,000||PKR 2125|
|Chakwal||PKR 229,000||PKR 2125|
|Hyderabad||PKR 229,000||PKR 2125|
|Nowshehra||PKR 229,000||PKR 2125|
|Sargodha||PKR 229,000||PKR 2125|
|Faisalabad||PKR 229,000||PKR 2125|
|Mirpur||PKR 229,000||PKR 2125|
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