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Eid shopping picks up momentum in city

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SARGODHA, Apr 03 (APP):With the start of the third Ashra of Ramazan,eid shopping had gained momentum in Sargodha city as a huge rush of people was being witnessed in all markets and bazaars .
Official news agency observed here on Wednesday that a large number of people were thronging in shopping malls and bazaars including Al Munir Market, Urdu Bazaar, Goal Chowk Bazaar and various other markets of the city.
People of all ages including women and children were seen shopping of clothes, footwear, cosmetics, henna, bangles and other items.
Special eid stalls including cosmetics,jewellery, mehndi and bangles were also set up in various markets of the city.
The shopkeepers decorated their shops with lights to attract customers

Currency rates of NBP

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KARACHI, Apr 03 (APP):Following are the selling/buying rates of major currencies issued by the National Bank of Pakistan (NBP), here on Wednesday.

CURRENCY SELLING BUYING
USD 281.08 275.02
GBP 353.62 345.97
EUR 302.95 296.95
JPY 1.8546 1.8145
SAR 74.94 73.32
AED 76.54 74.87

Pakistan’s cotton yarn exports to China crosses $100 million in Jan-Feb

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BEIJING, Apr 3 (APP): Pakistan’s cotton yarn exports to China have surpassed the $100 million mark in the first two months of 2024. Experts believe Pakistan’s cotton yarn export to the world will further enhance this year due to good yield.

According to data released by the General Administration of Customs of the People’s Republic of China (GACC), China imported more than $100.98 million worth of cotton yarn from Pakistan in the first two months of 2024, which increased by around 98% as compared to the last year in the same period.

Uncombed single cotton yarn crossed $57.77 million in January – February of 2024. Pakistan is the second largest exporter after Vietnam in this item of cotton yarn this year.

Data further showed that uncombed single cotton yarn crossed $41.95 million in the first two months of 2024, while last year in the same period it was $14.54 million, China Economic Net (CEN) reported.

Sajid Mahmood, Head of the Transfer of Technology Department, Central Cotton Research Institute Multan told China Economic Net that the Pakistan-China yarn business underscores a pivotal opportunity for Pakistan to diversify its exports beyond predominantly Siro Yarns into other high-quality variants like cotton, carded, and combed yarns, with enhanced competitiveness in the Chinese market.

Despite benefiting from a Free Trade Agreement with China, Pakistan faces stiff competition from India, especially in non-Siro yarns, despite a 3.5% higher duty for India. Additionally, Vietnam poses a challenge with similar duty-free privileges, although its reliance on imported cotton exposes vulnerability, he said.

Partly cloudy weather forecast for city

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BAHAWALPUR, Apr 03 (APP): The local Met Office has forecast dry to partly cloudy weather for the city for the next 24 hours.
The highest maximum temperature of 35 centigrade and the lowest minimum 21 centigrade were recorded during the last 24 hours.
The dry to partly cloudy weather has also been forecast for the rest of the region.

Exchange rates for currency notes

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KARACHI, Apr 03 (APP): CURRENCY SELLING BUYING
USD 281.08275.02
GBP 353.62 345.97
EUR 302.95 296.95
JPY 1.85461.8145
SAR 74.94 73.32
AED 76.54 74.87

LIBOR
LIBOR FOR CALCULATING INTEREST ON SPECIAL USD BONDS
LIBOR 1M 5.44322
LIBOR 3M 5.55984
LIBOR 6M 5.64607

US DOLLAR Indicative FBP Rates

CURRENCY SIGHT/
15 DAYS1M2M 3M4M 5M 6M

USD276.62275.51272.97271.28268.75266.26263.86

EUR 298.29 297.29294.91293.46291.12288.84286.67

GBP 348.01346.64343.50341.42338.29 335.24332.30

 

At UN, Pakistan rebuts India’s claim of Kashmir being its ‘integral part’

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Gul Qaiser Sarwani - File photo

UNITED NATIONS, Apr 03 (APP): Pakistan Tuesday hit back at India for claiming Kashmir to be its ‘integral part, saying that repeating a wrong position would not make it acceptable at any forum.

“Let me reaffirm that Jammu and Kashmir is an internationally recognized disputed territory and is not, by any means, a so-called integral part of India”, Pakistani delegate Gul Qaiser Sarwani said, while responding to comments by India’s representative during the general debate of the UN Disarmament Commission, which began its 2024 session on Monday.

The Indian representative, who was was reacting to Pakistani Ambassador Munir Akram’s speech to the Commission on the opening day, claimed that Jammu and Kashmir was an “integral part’ of India, and accused Pakistan of being involved in terrorism. The Indian representative also accused Pakistan of misusing the forum by raising the Kashmir dispute.

In his speech, besides other issues, Ambassador Akram had highlighted that Kashmiris and Palestinians were among the peoples still denied the right to self-determination, asserting that India’s large-scale arms acquisitions plus its set of aggressive military policies has turned the security environment in South Asia “volatile and explosive”.

Exercising his right to reply, Sarwani, the Pakistani delegate underscored that Jammu and Kashmir is an internationally recognized disputed territory and not an “integral part of India”, and that Ambassador Akram’s remarks were completely relevant to the work of the Commission.

“Contrary to India’s assertion, the situation in the Indian illegally occupied Jammu and Kashmir, India’s massive arms build up, aggressive posturing, and war-fighting doctrines are completely relevant to the Commission’s work, as they carry grave implications for regional and international peace and security – and hence impinge on efforts towards disarmament,” Sarwani added.

The Pakistani delegate said that his country was facing a significant threat of terrorism, which is orchestrated, supported and financed by its Eastern neighbour (India), a well-known state sponsor of terrorism whose terrorist network has gone global, reaching countries far beyond its borders.

Sarwani reiterated Pakistan’s stance on the longstanding Jammu and Kashmir dispute, emphasizing that it remains on the agenda of the UN Security Council and that its final disposition is to be determined by its people through a UN-supervised plebiscite.

On the programme of work of the Conference on Disarmament (CD), Sarwani expressed Pakistan’s concerns over India’s emphasis on the Fissile Material Cut-off Treaty (FMCT), which disproportionately affects Pakistan’s national security interests. He urged for flexibility and compromise from all delegations to break the longstanding deadlock in the CD.

“Failure to achieve consensus in the CD also reflects on the lack of sincere and inclusive efforts by the President to bring all member states on board,” he said.

The Pakistani delegate also called on the international community to address attempts to undermine regional peace and security, emphasizing their direct impact on prospects for disarmament at both regional and global levels.

Foreign exchange rates

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Exchange rates

KARACHI, Apr 03 (APP): The Exchange Rates Committee of Financial Markets Association of Pakistan issued the following Exchange rates bulletin, here on Wednesday.

CONVERSION RATES FOR April 03, 2024 FOR FOREIGN CURRENCY FOR FORWARD COVER FOR DEPOSITS (EXCLUDING FE 25 DEPOSITS)

SBP SETTLEMENT VALUE DATE April 05, 2024

USD 277.7608
GBP 348.6176
EUR 298.3151
JPY 1.8307

 

Five held with contraband

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SARGODHA, Apr 03 (APP): District police arrested five criminals with contraband from various parts of the district,here on Wednesday.
According to a spokesperson,In a crackdown against criminals, the police raided at various localities and netted Nadeem, Suleman, Irfan, Farhan and Aslam and recovered 1 kg Hashish,five pistols,1.5kg opium and valuables worth million of rupees from their possession.
Further investigation was underway.

Ambassador Hashmi presents credentials to President of Mongolia

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BEIJING, Apr 3 (APP): Pakistan Ambassador to China, Khalil Hashmi presented his credentials to President Ukhnaagiin Khürelsükh of Mongolia on in an elegant and impressive ceremony held at the State House in Ulaanbaatar, capital city of Mongolia.

During his ongoing visit, Ambassador Hashmi is also meeting with various ministerial and deputy ministerial level officials, academia and businesses.

Notably, he had productive interactions with the Ms. Battsetseg Batmunkh, Foreign Minister and other senior officials of Mongolia Ministry of Foreign Affairs (MFA), in which both sides emphasized the need to build on their ancient civilizational linkages to foster goodwill among the younger generation of both countries.

Pakistan and Mongolia enjoy warm relations spanning over six decades, characterized by mutual respect, cultural similarities and robust cooperation at multilateral fora. Recently, there has been enhanced bilateral interactions as well.
Pakistan Ambassador to China is also concurrently accredited as Pakistan non-resident Ambassador to Mongolia.

Ambassador Hashmi presents credentials to President of Mongolia        Ambassador Hashmi presents credentials to President of Mongolia

 

Six held with 295 kites

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SARGODHA, Apr 03 (APP): District police arrested six kite makers/sellers and recovered 295 kites from their possession,here on Wednesday.
According to spokesperson,the teams of different police stations raided the areas under their jurisdictions and nabbed six kite sellers identified as Irfan, Saleem, Wajid, Kamran, khaleel
and Zeeshan and seized 295 kites.
Further investigation was underway.