KARACHI – In a major development for crisis-hit Pakistan, European Commission has removed the South Asian nation from the 'List of High-Risk Third Countries'.
In a statement, the Ministry of Commerce said European Authorities have removed Islamabad from the list of those countries which have strategic deficiencies in the Anti Money Laundering/Countering the Financing of Terrorism (AML/CFT) regime that pose a significant threat to their financial system.
Citizens and business community members will no longer be subjected to “Enhanced Customer Due Diligence” by the regional body's legal and economic operators after the relief.
The exclusion from the list would add to the comfort level of the European economic operators and be likely to ease the cost and time of legal and financial transactions by Pakistani entities and individuals in the EU, the statement said.
Islamabad was placed on the infamous list back in 2018, after which several regulatory restrictions were imposed on the country.
Meanwhile, the development is commended by politicians as Pakistani exporters will get more space in the European Union.
The fifth most populous country, which is suffering the worst financial crisis, managed to escape Financial Action Task Force (FATF) global money laundering watch list.
KARACHI – Pakistani rupee, which is facing blows in the open market, remained stable against the US dollar, in the inter-bank market on Wednesday.
The local currency moved slightly upward during the opening hours of trading in the inter-bank market. Before noon, PKR was hovering around 285.22, with a slight increase of Rs0.13.
As the situation remained under control in the interbank market, the rupee hits a fresh record low in the open market and was selling at 315 per dollar.
In a recent development, the IMF mission chief shared positive news, confirming that talks are underway with Pakistani authorities. The resumption of the IMF programme remains important for the crisis-hit country.
KARACHI - The price of a single tola of 24-karat gold in Pakistan is Rs 232,300 on Wednesday.The price of 10 grams of 24k gold was recorded at Rs199,160.
Likewise, 10 grams of 22k gold were being traded for Rs163,624 while a single tola of 22-karat gold was being sold at Rs 190,880.
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 232,300||PKR 2,485|
|Karachi||PKR 232,300||PKR 2,485|
|Islamabad||PKR 232,300||PKR 2,485|
|Peshawar||PKR 232,300||PKR 2,485|
|Quetta||PKR 232,300||PKR 2,485|
|Sialkot||PKR 232,300||PKR 2,485|
|Attock||PKR 232,300||PKR 2,485|
|Gujranwala||PKR 232,300||PKR 2,485|
|Jehlum||PKR 232,300||PKR 2,485|
|Multan||PKR 232,300||PKR 2,485|
|Bahawalpur||PKR 232,300||PKR 2,485|
|Gujrat||PKR 232,300||PKR 2,485|
|Nawabshah||PKR 232,300||PKR 2,485|
|Chakwal||PKR 232,300||PKR 2,485|
|Hyderabad||PKR 232,300||PKR 2,485|
|Nowshehra||PKR 232,300||PKR 2,485|
|Sargodha||PKR 232,300||PKR 2,485|
|Faisalabad||PKR 232,300||PKR 2,485|
|Mirpur||PKR 232,300||PKR 2,485|
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