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Pakistan, China agree on early launch of much-awaited ML-1 project

08:26 PM | 29 Sep, 2022
Pakistan, China agree on early launch of much-awaited ML-1 project

ISLAMABAD – Pakistan and China on Thursday agreed on the early launch of the much-awaited Mainline-1 (ML1) project that aims at revamping the South Asian country’s ageing railway infrastructure.

Both sides reached the agreement during a dinner hosted by Chinese Ambassador to Pakistan Nong Rong for Railways Minister Khawaja Saad Rafique.

Pakistan Railways chairman, additional secretary, secretary of aviation and chief executive officer of Pakistan International Airlines (PIA) also attended the event.

A statement issued by PIA said that Rafique, who also holds the aviation portfolio, asked the Chinese envoy to consider a partnership of budget airlines with Pakistan’s national carrier to improve travel facilities and make small airports functional.

“Direct Flights permissions to Guangzhou & Beijing also discussed,” the PIA statement read.

Nong Rong has assured Pakistan authorities to take measures to launch more direct flights to the Chinee cities.  

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Pakistani rupee exchange rate to US dollar, Euro, Pound, Dirham, and Riyal - 26 Feb 2024

Pakistani currency remains stable against US dollar in the open market on February 26, 2024 (Monday).

US Dollar rate in Pakistan

In the open market, the US dollar was being quoted at 279.5 for buying and 282.55 for selling.

Euro currently stands at 302 for buying and 305 for selling while British Pound rate stands at 352.5 for buying, and 356 for selling.

UAE Dirham AED hovers at 76.1 whereas the Saudi Riyal saw slight increase, with new rates at 74.35.

Today’s currency exchange rates in Pakistan - 26 Feb 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 279.5 282.55
Euro EUR 302 305
UK Pound Sterling GBP 352.5 356
U.A.E Dirham AED 76.1 76.8
Saudi Riyal SAR 74.35 75.1
Australian Dollar AUD 181 183
Bahrain Dinar BHD 743.88 751.88
Canadian Dollar CAD 207 209
China Yuan CNY 38.89 39.29
Danish Krone DKK 40.38 40.78
Hong Kong Dollar HKD 35.76 36.11
Indian Rupee INR 3.37 3.48
Japanese Yen JPY 2.1 2.18
Kuwaiti Dinar KWD 908.79 917.79
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 726.53 734.53
Qatari Riyal QAR 76.76 77.46
Singapore Dollar SGD 207 209
Swedish Korona SEK 26.53 26.83
Swiss Franc CHF 317.87 320.37
Thai Bhat THB 7.79 7.94

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