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Gold rates up by Rs.3,500 per tola to Rs.272,000

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ISLAMABAD, Sep 20 (APP): The per tola price of 24 karat gold increased by Rs.3,500 and was sold at Rs.272,000 on Friday compared to its sale at Rs.268,500 on the last trading day.

The price of 10 grams of 24 karat gold also increased by Rs.3,001 to Rs.233,196 from Rs. 230,195 whereas the price of 10 grams 22 karat gold went up to Rs.213,763 from Rs. 211,012, the All Sindh Sarafa Jewellers Association reported.

The price of per tola and ten-gram silver remained unchanged at Rs.2,950 and Rs.2,529.14, respectively.

The price of gold in the international market increased by $35 to $2,612 from $2,577, the Association reported.

Ordinance on Practice and Procedures Act to further improve transparency in judicial proceedings: Tarar

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ISLAMABAD, Sep 20 (APP): Federal Minister for Information, Broadcasting, National Heritage and Culture Attaullah Tarar said on Friday that the promulgation of Ordinance on Practice and Procedures Act will further improve transparency in the judicial process.

Talking to the media here, he said an ordinance for amendment in the Practice and Procedures Act has been promulgated by the President after approval from the federal cabinet.

He said that from now on, the case that comes first would be taken up first by the court and the cases coming after would be fixed on their number.

He said that in a case under section 184(3), it will have to be written why it was a matter of public importance.

A formal order will be issued that if a case under Section 184(3) was taken up, whether it was a case of public importance, or human rights issue.

He said under the ordinance, on 184 (3) any order passed by the Supreme Court, the right of appeal had been granted.

According to this ordinance, a transcript will be prepared of the proceedings including judges’ remarks and observations during the case and this text will also be available to the public.

This step had been taken to make the judicial process more transparent, he opined.

He said that in the proposed constitutional package, there is mention of providing convenience to the people.

He said a committee had been set up under the Practice and Procedure Act headed by the Chief Justice of the Supreme Court, the puisne judge and the third Senior Judge were its members.

He said under the ordinance, now the Chief Justice will head the committee whereas the puisne judge will be a member and a third judge of the Supreme Court will be its member.

The Chief Justice will nominate one of the judges of the Supreme Court as a member of this committee from time to time, the minister added.

He said cases were delayed due to the non-availability of the third member of the committee in Islamabad.

Tarar said that a petition regarding the review of 63-A was pending till date. He remarked that some decision should have come regarding the revision of 63-A as it was an important matter.

“All these reforms and amendments have been made keeping in mind the interests of the common people,” he said.

The minister informed the media that a leading Chinese investment group would invest $ 7 billion for setting up textile parks in Pakistan.

He said there was good news for the nation as Prime Minister Shehbaz Sharif has held a meeting with the Chairman of Rui Group of China.

He said that a memorandum of understanding was signed between the Government of Pakistan and Rui Group which will establish textile parks in Pakistan.

He said that Rui Group had already completed the Sahiwal Coal Project under China Pakistan Economic Corridor which was completed in the record time of 21 months.

He said that these textile parks will be established in Sindh and Punjab provinces.

The Chinese conglomerate, he said will invite more than 100 Chinese companies to set up textile units in those textile parks.

He said in the first phase, $2 billion will be invested whereas $ 5 billion will be invested in the second phase by the group which meant a total of $ 7 billion investment.

He said that wholesale centers will also be established by the Chinese group in textile parks.

The establishment of textile parks would not only generate employment opportunities for 300,000 to 500,000 persons in Pakistan but also help boost exports, he remarked.

“Already our exports have increased by 14 per cent and the current account deficit has reduced”, said the minister.

Prime Minister Muhammad Shehbaz Sharif witnesses singing of an MoU between Board of Investment and RUYI Shangdong

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Prime Minister Muhammad Shehbaz Sharif witnesses singing of an MoU between Board of Investment and RUYI Shangdong
APP32-200924 ISLAMABAD: September 20 - Prime Minister Muhammad Shehbaz Sharif witnesses singing of an MoU between Board of Investment and RUYI Shangdong. APP/MAF/FHA
Prime Minister Muhammad Shehbaz Sharif witnesses singing of an MoU between Board of Investment and RUYI Shangdong
APP32-200924
ISLAMABAD

PSX tops global markets in 2024: Bloomberg

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ISLAMABAD, Sep 20 (APP):The Pakistan Stock Market (PSX) has been one of the best performers globally this year, according to Bloomberg report.
“Pakistan’s stock market has been one of the best performers globally this year, buoyed by improving economic outlook and a crucial initial loan deal with the International Monetary Fund in July,” says the report.
The gauge has risen more than 30% this year, aided by foreign investors’ net purchases of $87 million in local shares, the highest since 2014, data compiled by Bloomberg showed.
According to the report, the nation’s current account balance has improved in recent months, and the central bank has slashed interest rates as inflation is easing.
Stocks in Pakistan closed near their record high on Thursday as robust foreign inflows and improving macro-economic indicators boosted sentiment.
Pakistan Stock Exchange’s benchmark KSE-100 index gained 1.1% to close just shy of the previous record of 81,865.10, after touching a new high earlier in the day.

Prime Minister Muhammad Shehbaz Sharif chairs a meeting on transformation plan of Federal Board of Revenue

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Prime Minister Muhammad Shehbaz Sharif chairs a meeting on transformation plan of Federal Board of Revenue
APP25-200924 ISLAMABAD: September 20 - Prime Minister Muhammad Shehbaz Sharif chairs a meeting on transformation plan of Federal Board of Revenue. APP/MAF/FHA
Prime Minister Muhammad Shehbaz Sharif chairs a meeting on transformation plan of Federal Board of Revenue
APP25-200924
ISLAMABAD

Prime Minister Muhammad Shehbaz Sharif chairs a meeting on transformation plan of Federal Board of Revenue

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Prime Minister Muhammad Shehbaz Sharif chairs a meeting on transformation plan of Federal Board of Revenue
APP24-200924 ISLAMABAD: September 20 - Prime Minister Muhammad Shehbaz Sharif chairs a meeting on transformation plan of Federal Board of Revenue. APP/MAF/FHA
Prime Minister Muhammad Shehbaz Sharif chairs a meeting on transformation plan of Federal Board of Revenue
APP24-200924
ISLAMABAD

Prime Minister Muhammad Shehbaz Sharif chairs a meeting on transformation plan of Federal Board of Revenue

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Prime Minister Muhammad Shehbaz Sharif chairs a meeting on transformation plan of Federal Board of Revenue
APP26-200924 ISLAMABAD: September 20 - Prime Minister Muhammad Shehbaz Sharif chairs a meeting on transformation plan of Federal Board of Revenue. APP/MAF/FHA
Prime Minister Muhammad Shehbaz Sharif chairs a meeting on transformation plan of Federal Board of Revenue
APP26-200924
ISLAMABAD

A delegation of RUYI Group led by Chairman QiuYafu calls on Prime Minister Muhammad Shehbaz Sharif

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A delegation of RUYI Group led by Chairman QiuYafu calls on Prime Minister Muhammad Shehbaz Sharif
APP28-200924 ISLAMABAD: September 20 - A delegation of RUYI Group led by Chairman QiuYafu calls on Prime Minister Muhammad Shehbaz Sharif. APP/MAF/FHA
A delegation of RUYI Group led by Chairman QiuYafu calls on Prime Minister Muhammad Shehbaz Sharif
APP28-200924
ISLAMABAD

A delegation of RUYI Group led by Chairman QiuYafu calls on Prime Minister Muhammad Shehbaz Sharif

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A delegation of RUYI Group led by Chairman QiuYafu calls on Prime Minister Muhammad Shehbaz Sharif
APP29-200924 ISLAMABAD: September 20 - A delegation of RUYI Group led by Chairman QiuYafu calls on Prime Minister Muhammad Shehbaz Sharif. APP/MAF/FHA
A delegation of RUYI Group led by Chairman QiuYafu calls on Prime Minister Muhammad Shehbaz Sharif
APP29-200924
ISLAMABAD