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Gold reaches all-time high of Rs147,250 per tola in Pakistan

The per tola price of the yellow metal jumped Rs1,450 in local markets

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Gold reaches all-time high of Rs147,250 per tola in Pakistan
GNN Media: Representational Photo

Karachi: Gold prices reached a new height in Pakistan on Monday.

A delay in the revival of the International Monetary Fund's (IMF) programme, appreciation of US dollar prices against Pakistani rupee, and economic uncertainties helped pushed the prices of gold.  

The precious commodity has emerged as a safe asset in these challenging times of the economic crisis. People were aggressively buying gold to protect their cash from deflation.

Gold prices in the local bullion market soared by Rs1,450 per tola and Rs1,243 per 10 grams today to reach an all-time high of Rs147,250 and Rs126,243 amid continuous depreciation of the rupee against the US dollar.

The precious commodity closed at a record high of Rs145,800 per tola and Rs125,000 per 10 grams on Saturday. Cumulatively, the yellow metal gained Rs3,650 per tola in Pakistan during the week ended June 18.

Business

AJK govt presents Rs 163.7 billion budget

The development budget has been increased by Rs. 2 billion as compared to the previous financial year.

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AJK govt presents Rs 163.7 billion budget

Mirpur: The government of Azad Jammu & Kashmir Saturday presented its maiden budget with an estimated outlay of Rs.163.7 billion for the next financial year 2022-23.

In the budget, an amount of Rs.135.2 billion has been allocated for recurring expenditure whereas a chunk of Rs. 28.5 billion has been allocated for development expenditure.

The development budget has been increased by Rs. 2 billion as compared to the previous financial year.

The budget proposes a 15 percent Disparity Reduction Allowance, an increase in the revised pay scale, and a 15 percent increase for pensioners.

The development budget includes Rs1.8 billion for public health, Rs 2.17 billion for education, and 12 billion for communication.

Presenting the budget for the financial year 2022-23 in the Azad Jammu Kashmir Legislative Assembly which met in the State metropolis on Saturday, the AJK Finance Minister Abdul Majid Khan said that the total expenditure for the next financial year has been estimated at Rs 135.20 billion.

He said that total development expenditure was estimated at Rs 28.50 billion.

Moreover, the minister said that an amount of 500 million has been proposed in terms of foreign aid.

Revised budget for the financial year 2021-22, amounting to 135.7 billion was also presented in the legislative assembly.

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World

World Drug Day being observed today

This year's theme was to curb the spread of misinformation on the topic and to encourage the exchange of facts related to drugs.

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World Drug Day being observed today

Islamabad: The International Day Against Drug Abuse and Illicit Trafficking or World Drug Day was marked on June 26 every year around the globe with an aim to strengthen action and cooperation in achieving the goal of a world free of drug abuse.

As in other parts of the globe like every year, World Drug Day would also be marked in Pakistan on Sunday to raise awareness of the major problem that illicit drugs represent to society.

This day was supported by individuals, communities and various organizations all over the world. The aim of celebrating World Drug Day was to highlight the harmful effects of drugs.

The focus this year was to curb the spread of misinformation on the topic and to encourage the exchange of facts related to drugs.

Drug trafficking was a growing crime in Pakistan and police and the Ministry of Narcotics and anti-narcotics forces were cracking down on it on a daily basis.

Various events like motor car and bike rallies, drug awareness stage dramas and drug awareness walks, banners, steamers, panaflexes at Airports, Railway Stations, Bus Addas, Roads, Chowks, Traffic Signals and other important public places were being held all over the country, to mark the day.

He said in addition to these awareness activities, ANF also arranged display of banners, steamers, panaflexes at Airports, Railway Stations, Bus Addas, Roads, Chowks, Traffic Signals and other important public places.

Further, Awareness Video messages have also been played on LEDs installed at Airports, Railway Stations, important chowks, Bus Addas, Shopping Malls and other prominent places throughout the country.

Similarly, the Ministry of Narcotics Control and United Nations Office on Drugs and Crime (UNODC) Pakistan has also organized walk and cycling rally to commemorate the World Drug Day on Sunday here at Gulshan e Fatima Park, Margalla Road.

The event would be attended by Dr Jeremy Milsom Country Representative UNODC and DG Anti Narcotics Force (ANF).

The event would be attended by counterparts, senior government officials, the international community, students from schools, colleges, civil society and the general public.

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Pakistan

Rigging, incidents of violence disrupts Sindh LG polls

Video of public rigging in Sindh local body elections went viral

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Rigging, incidents of violence disrupts Sindh LG polls

Sukkar: Incidents of rigging and violence are being reported during the Polling for the first phase of Local Government elections in fourteen districts of Sindh.

Polling for the first phase of local government elections in Sindh is underway which started at 8am and will continue till 5pm without any break in 14 districts of the province including Sukkur, Shaheed Benazirabad, Larkana, Mirpur Khas, Umarkot, Tharparkar, Sanghar, Naushehro Feroze, Kanbar-ShahdadKot, Shikarpur, Jacobabad, Kahmor, Ghoki and Khairpur.

However, as soon as the balloting started, reports of rigging as well as violence poured in.

A video of rigging during polls goes viral on socila media showing that more than one voter are stamping on their votes publically on the Returning Officer's table.

On the other hand, violence in Sukkur, Kandhkot, Nawabshah, Ghotki and Mirpur Mathelo left dozens of people injured. At least one polling station in Kandhkot was attacked by dacoits.

Polling in Municipal Committee Ward 13 was suspended after a conflict resulted in the death of one person in Tando Adam.

The polling station was immediately shut down after the incident.

In Kandhkot, at least 20 people were reportedly injured as a fight broke out between the workers of rival political parties in ward 10 during the local bodies polls in Kandhkot on Sunday.

A large contingent of police and rangers rushed to the scene to restore the law and order.

A scuffle between PPP and JUI candidates also broke out in Sukkur that left two people injured including JUI general councilor candidate Ghulam Mustafa.

The incident was reported in Fareed Mehr polling station in Pano Aqil.

JUI candidate has alleged that the attack was ‘unprovoked’.

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