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Gold price decreases by Rs300 per tola in Pakistan

Precious metal lost Rs300 to settle at Rs125,700 per tola, Rs258 to fall to Rs107,767 per 10 grams in the domestic market

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Gold price decreases by Rs300 per tola in Pakistan
GNN Media: Representational Photo

Karachi: The gold price on Wednesday recorded a drop of Rs300 per tola, taking the precious metal to Rs125,700 in Pakistan.

According to the All Sindh Sarrafa and Jewellers Association, the precious metal lost Rs300 to settle at Rs125,700 per tola and Rs258 to fall to Rs107,767 per 10 grams in the domestic market. 24k-gold is now selling at $1,818 per ounce.

Meanwhile, in the international market, it gained by $11 per ounce to $1,818. Gold recorded an increase of $20 in three days.

Silver Rate

Meanwhile, the rate of silver stayed unchanged in the local market. It is being sold at Rs1,450 per tola and Rs1,243.14 per 10 grams.

It last changed on January 7 after being static for 45 days.

It is pertinent to mention here that the gold rates in Pakistan are around Rs1,500 below cost compared to the gold rate in the Dubai market.

Faisal Waqas

Faisal Waqas is a passionate journalist who has eight years of diversified experience in print, electronic and digital media. He has previously worked with other renowned private TV channels as well as English Newspaper and now associated with GNN as Senior Content Writer. Faisal has graduated from the University of Punjab and earned his M.Phil degree in Mass Communication from Superior University of Lahore.

Pakistan

PM's use of religion as 'cover-up' for economic, governance breakdown a matter of concern: Shehbaz

The PML-N leader's criticism came hours after an article written by the premier titled 'Spirit of Riyasat-i-Madina: Transforming Pakistan'

Published by Faisal Ali Ghumman

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PM's use of religion as 'cover-up' for economic, governance breakdown a matter of concern: Shehbaz

PML-N president and Leader of the Opposition in the National Assembly Shehbaz Sharif Monday said he was "really concerned" with the way Prime Minister Imran Khan was "using religion as a cover-up for the massive governance and economic breakdown" in the country, which he attributed to the latter's policies.

"Such a self-serving approach will wreak greater damage upon the polity than is being understood," he said on Twitter.

Shehbaz's criticism came hours after an article penned by the premier titled 'Spirit of Riyasat-i-Madina: Transforming Pakistan' was published in which he talked about the five basic tenets of Islam and how, in order for the country to realise its potential, society will have to struggle to embody these principles as a nation.

 

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World

Job market recovery likely to slow in 2022 due to new Covid variants: ILO

There would be an even bigger deficit in working hours in 2022 than it previously estimated

Published by Faisal Ali Ghumman

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Job market recovery likely to slow in 2022 due to new Covid variants: ILO

London: The United Nations’ International Labour Organization has warned that job market recovery from the Covid-19 pandemic looks set to slow in 2022.

In its 2022 World Employment and Social Outlook trends report, published Monday, the ILO forecast that the number of hours worked globally in 2022 would be 1.8% lower than in the fourth quarter of 2019, just before the onset of the pandemic.

The ILO forecast that there would be an even bigger deficit in working hours in 2022 than it previously estimated. It projected that the fall in global working hours this year would now be the equivalent of losing 52 million full-time jobs, nearly double the 26 million it previously forecast in May 2021.

Guy Ryder, ILO director-general, said in a press briefing ahead of the release of the report on Monday that this “downside readjustment is quite considerable.”

Ryder said that there were a number of reasons behind the expected slowdown in the labor market recovery, including the spread of new Covid variants, such as delta and omicron.

The ILO expected the labor market recovery to remain weak through 2023.

Ryder said that the far-reaching changes to economic and social behavior brought on by the Covid crisis had reduced the demand for, and the supply of, labor. He said that the ILO expected this trend to continue for “as long as the pandemic itself remains uncontrolled.”

The ILO estimated that global unemployment is expected to reach 207 million in 2022, versus 186 million reported in 2019.

Ryder said that to be “sustainable this recovery must be based on the principles of decent work, employment creation, labor rights, social protection and social dialogue.”

He referred to the guidance that was offered in the ILO’s call-to-action, that was adopted by its 187 member states in June 2021. For example, the ILO suggested that states should provide incentives to employers to retain workers, such as shorter working weeks.  

SOURCE: CNBC

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Pakistan

No substitute for selfless leadership of Imran Khan: Usman Buzdar

Pakistan has got truthful and honest leader

Published by Siddra Sumreen

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No substitute for selfless leadership of Imran Khan: Usman Buzdar

Lahore: Punjab Chief Minister Usman Buzdar on Monday has said that lamp of negative politics of opposition has gone out, there is no substitute for the selfless leadership of Imran Khan.

In a statement, Usman Buzdar has said that opposition leaders have become restless due to from power. “In Shaa Allah this restlessness will continue even after 2023. They do criticism just for the sake of criticism for improving their political impression,” he added.

He said that the people who polluted politics with corruption their place is jail. The chief minister said that there is not any substitute of selfless leadership of Prime Minister Imran Khan. Pakistan has got truthful and honest leader. We performed those tasks in 42 months which previous governments could not perform in years.

"Pakistan Tehreek-e-Insaf (PTI) has done great work in three and a half years which the previous governments could not do in decades", Usman Buzdar concluded.

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