Fog grips Bahawalpur
Six drug peddlers arrested
Partly cloudy weather forecast for city
PM to address AJ&K Legislative Assembly today
ISLAMABAD, Dec 14 (APP): Caretaker Prime Minister Anwaar-ul-Haq Kakar will reach Muzaffarabad Thursday on a two-day visit to Azad Jammu and Kashmir where he will address the AJ&K Legislative Assembly.
This visit of the prime minister is an expression of solidarity with the people of Jammu and Kashmir in the context of the confirmation by the Indian Supreme Court of India’s unilateral and illegal move regarding the status of Jammu and Kashmir, a statement issued by the PM office said.
During his visit, the prime minister will also chair the meeting of the Cabinet of Azad Jammu and Kashmir.
The prime minister will also visit the martyrs’ memorial and lay a wreath at the martyrs’ memorial.
Exchange rates for currency notes
KARACHI, Dec 14 (APP): CURRENCY SELLING BUYING
USD 286.89280.71
GBP 362.78 354.93
EUR 312.91 306.73
JPY 2.0296 1.9857
SAR 76.49 74.84
AED 78.13 76.95
LIBOR
LIBOR FOR CALCULATING INTEREST ON SPECIAL USD BONDS
LIBOR 1M 5.47931
LIBOR 3M 5.64767
LIBOR 6M 5.77476
US DOLLAR Indicative FBP Rates
CURRENCY SIGHT/
15 DAYS1M2M 3M4M 5M 6M
USD282.27281.05278.18274.73271.56268.35265.68
EUR 308.10306.96 304.24300.80297.73294.62292.05
GBP 356.97355.46351.90347.56343.61 339.56336.19
APP/as
NBP exchange rates
KARACHI, Dec 14 (APP): Treasury Management Division of National Bank of Pakistan (NBP) on Thursday the following exchange rates.
CURRENCY SYMBOL TT Selling TT Buying
U.S DOLLAR USD 284.05 283.55
EURO EUR 310.38 309.83
JAPANESE YEN JPY 2.0095 2.0060
BRITISH POUND GBP 359.18 358.55
SWISS FRANC CHF 327.59 327.01
CANADIAN DOLLAR CAD 210.99 210.61
AUSTRALIAN DOLAR AUD 190.72 190.39
SWEDISH KRONA SEK 27.82 27.77
NORWEGIAN KRONE NOK 26.47 26.43
DANISH KRONE DKK 41.56 41.48
NEWZEALAND DOLLAR NZD 177.24 176.92
SINGAPORE DOLLAR SGD 213.69 213.31
HONGKONG DOLLAR HKD 36.52 36.45
KOREAN WON KRW 0.2194 0.2190
CHINESE YUAN CNY 39.97 39.90
MALAYSIAN RINGGIT MYR 60.95 60.84
THAI BAHT THB 8.09 08.07
U.A.E DIRHAM AED 77.88 77.75
SAUDI RIYAL SAR 75.73 75.60
QATAR RIYAL QAR 78.00 77.86
KUWAITI DINAR KWD 923.41 921.78
CONVERSION RATE FOR FROZEN FCY DEPOSITS
USD 283.4708
GBP 354.8487
EUR 305.6382
JPY 1.9438
SETTLEMENT DATE: 18-12-2023
Foreign exchange rates
KARACHI, Dec 14 (APP): The Exchange Rates Committee of Financial Markets Association of Pakistan issued the following Exchange rates bulletin, here on Wednesday.
CONVERSION RATES FOR DECEMBER 14, 2023 FOR FOREIGN CURRENCY FOR FORWARD COVER FOR DEPOSITS (EXCLUDING FE 25 DEPOSITS)
SBP SETTLEMENT VALUE DATE DECEMBER 18, 2023
USD 283.4708
GBP 354.8487
EUR 305.6382
JPY 1.9438
UNSC slams terrorist attack in Dera Ismail Khan, calls for holding perpetrators accountable
UNITED NATIONS, Dec 14 (APP): The UN Security Council Wednesday condemned “in the strongest terms “the deadly terrorist attack in Khyber Pakhtunkhwa’s Dera Ismail Khan division, and urged all states to cooperate with Pakistan in bringing those responsible for the “reprehensible” assault.
“The members of the Security Council expressed their deepest sympathy and condolences to the families of the victims and the Government of Pakistan, and they wished a speedy and full recovery to those who were injured,” according to a press statement issued by the 15-member Council President for December, Jose de la Gasca of Ecuador.
The attack resulted in multiple casualties, including the martyrdom of at least 23 security personnel and more than 37 injured.
The statement said: “The members of the Security Council reaffirmed that terrorism in all its forms and manifestations constitutes one of the most serious threats to international peace and security.
“The members of the Security Council underlined the need to hold perpetrators, organizers, financiers and sponsors of these reprehensible acts of terrorism accountable and bring them to justice. They urged all States, in accordance with their obligations under international law and relevant Security Council resolutions, to cooperate actively with the Government of Pakistan, as well as all other relevant authorities in this regard.
“The members of the Security Council reiterated that any acts of terrorism are criminal and unjustifiable, regardless of their motivation, wherever, whenever and by whomsoever committed.
“They reaffirmed the need for all States to combat by all means, in accordance with the Charter of the United Nations and other obligations under international law, including international human rights law, international refugee law and international humanitarian law, threats to international peace and security caused by terrorist acts.”
Nations at UN climate conference agree to transition away from planet-warming fossil fuels
UNITED NATIONS, Dec 13 (APP): UN Secretary-General Antonio Guterres cautiously welcomed the outcome of Cop28 in Dubai where nearly 200 nations approved on Wednesday a roadmap for “transitioning away from fossil fuels” – a first for a UN climate conference – but experts said the deal is still stopped short of the persistent call for a “phaseout” of oil, coal and gas.
Reacting to the adoption of the outcome document, he said that mention of the world’s leading contributor to climate change comes after many years in which the discussion of this issue was blocked.
“The era of fossil fuels must end — and it must end with justice and equity,” the UN chief said.
“To those who opposed a clear reference to a phaseout of fossil fuels in the COP28 text, I want to say that a fossil fuel phaseout is inevitable whether they like it or not. Let’s hope it doesn’t come too late,” added the Secretary-General.
The latest edition of the annual UN climate conference has been running in Dubai since 30 November, when world leaders, including Pakistan’s Caretaker Prime Minister Anwaarul Haq Kakar, attended its opening segment.
COP28 had been scheduled to close on Tuesday, but intense overnight negotiations on whether the outcome would include a call to “phase down” or “phase out” planet-heating fossil fuels like oil, gas and coal forced the conference into overtime.
This main sticking point pit activists and climate-vulnerable countries against some larger nations for much of the past two weeks.
In his statement, Guterres said limiting global heating to 1.5°C, one of the keystone targets set in the landmark 2015 Paris Agreement, “will be impossible without the phase-out of all fossil fuels”, and this is being recognized by a growing and diverse coalition of countries.
The negotiators at COP28 also agreed on commitments to triple renewables capacity and double energy efficiency by 2030 and made progress in relation to adaptation and finance.
Other progress was also made in relation to adaptation and finance, – including the operationalization of the Loss and Damage Fund, even though financial commitments are very limited, according to the Secretary-General.
But the UN chief stressed that much more is needed to deliver climate justice to those on the frontlines of the crisis.
“Many vulnerable countries are drowning in debt and at risk of drowning in rising seas. It is time for a surge in finance, including for adaptation, loss and damage and reform of the international financial architecture.”
He said the world cannot afford “delays, indecision, or half measures” and insisted that “multilateralism remains humanity’s best hope.”
“It is essential to come together around real, practical and meaningful climate solutions that match the scale of the climate crisis.”
UN climate chief Simon Stiell said, “genuine strides forward” were made at COP28, but the initiatives announced in Dubai are “a climate action lifeline, not a finish line.”
Stiel said the Global Stocktake – which aims to help nations align their national climate plans with the Paris Agreement – had clearly revealed that progress is not fast enough, but it is “undeniably” gathering pace.
Still, the current trajectory is just under three degrees of global warming equating to “mass human suffering”, according to the climate chief, which is why COP28 “needed to move the needle further”.
Speaking to reporters outside the main hall, Stiell said COP28 needed to signal a hard stop to humanity’s core climate problem – “fossil fuels and their planet burning pollution”.
“While we didn’t fully turn the page on the fossil fuel here in Dubai, this is clearly the beginning of the end”.
“This agreement is an ambitious floor, not a ceiling. So, the crucial years ahead must keep ramping up ambition and climate action”.
Here are some of the other highlights from COP28 and a snapshot of what happens next:
— The loss and damage fund designed to support climate-vulnerable developing countries was brought to life on the first day of the COP. Countries have pledged hundreds of millions of dollars so far for the fund;
— Commitments worth $3.5 billion to replenish the resources of the Green Climate Fund;
— New announcements totaling over $150 million for the Least Developed Countries Fund (LDC) and Special Climate Change Fund (SCCF)
— An increase of $9 billion annually by the World Bank to finance climate-related projects (2024 and 2025);
— Nearly 120 countries backed COP28 UAE Climate and Health Declaration to accelerate actions to protect people’s health from growing climate impacts;
— Over 130 countries have signed up to COP28 UAE Declaration on Agriculture, Food, and Climate to support food security while combatting climate change;
Global Cooling Pledge has been endorsed by 66 countries to reduce cooling-related emissions by 68% from today.
The next round of national climate action plans – or Nationally Determined Contributions – is due in 2025, when countries are expected to have seriously boosted their actions and commitments.
Azerbaijan was announced as the official host of COP29 – from November 11 to 22 next year – after receiving the backing of Eastern European states following the withdrawal by Armenia of its own bid.
Despite multiple rounds of applause inside the plenary, not all delegations were pleased with the outcome of the climate talks. Civil society representatives and climate activists, as well as delegations from small island developing countries were visibly unhappy with the outcome.
Anne Rasmussen, the Samoan representative and lead negotiator for the Alliance of Small Island States (AOSIS), pointed out that the decision was made during their absence in the plenary room as their group was still coordinating its response to the text.
She lamented that they cannot “afford to return to their islands with the message that this process has failed us.”
Underlining the importance of the Global Stocktake process, she said, “This first GST is of particular significance. It is the only GST that matters for ensuring that we can still limit global warming to 1.5C.”
Ms. Rasmussen bemoaned the lack of “course correction” and expressed disappointment over “incremental advancement over business as usual, when what we really needed was an “exponential step-change in our actions and support.”
Just after the release of the final document, Harjeet Singh, head of global political strategy at Climate Action Network International said: “After decades of evasion, COP28 finally cast a glaring spotlight on the real culprits of the climate crisis: fossil fuels. A long-overdue direction to move away from coal, oil, and gas has been set.”
“But the resolution is marred by loopholes that offer the fossil fuel industry numerous escape routes, relying on unproven, unsafe technologies.
Singh also pointed to what he saw as “hypocrisy of wealthy nations… as they continue to expand fossil fuel operations massively while merely paying lip service to the green transition.”
Developing countries still dependent on fossil fuels are, he said, left without robust guarantees for adequate financial support in their “urgent and equitable transition to renewable energy.”
“While this COP recognized the immense financial shortfall in tackling climate impacts, the final outcomes fall disappointingly short of compelling wealthy nations to fulfill their financial responsibilities,” he added.
SC ruling on military trials a victory of principle, significant for social order: PM
ISLAMABAD, Dec 13 (APP): Caretaker Prime Minister Anwaar-ul-Haq Kakar on Wednesday said the Supreme Court’s decision to suspend its verdict of nullifying military trials of civilians, was a victory of principle and significant for the social order.
The prime minister, in an interview with a private television channel (ARY News) said through the court decision the matter had been established principally otherwise the implications of the erosion of state institutions would have been unfathomable.
He thanked the Supreme Court for realizing, appreciating and enunciating the matter considering it very significant for the social order.
Earlier in the day, a six-member Supreme Court bench, in a 5-1 majority verdict, conditionally suspended its October 23 unanimous ruling nullifying military trials of 103 civilians, pending a final judgment.
The prime minister said showing leniency and allowing people to do anything to the state institutions they wanted, would pose an existential threat to the state.
However, he clarified that only the individuals who attacked military installations on May 9 should be tried in the military courts, but not those who held protest demonstrations before the parliament or Supreme Court.
To a question, he underscored his focus on the principle rather than identifying masterminds, leaving such determinations to investigation agencies and the judiciary.
About his visit to DI Khan in the evening to inquire about the health of soldiers injured in a terrorist attack, the prime minister said he was “jolted” by the morale of the injured soldiers and reiterated that Pakistan had already won the war against terrorism.
He said the current situation was linked to Afghan soil, with the presence of terrorists and their leadership in Afghanistan. He emphasized the need to engage with Afghan leadership, seek their commitment, and enhance cooperation for regional stability.
Reiterating his strong stance against negotiating with terrorist groups, he said the negotiations could only be held if the terrorist groups abandon violence.
Addressing the repatriation issue, he clarified that the goal was to send back the undocumented aliens, not to perpetually ban them.
Regarding upcoming elections, Prime Minister Kakar said that so far, he saw no impediment in holding general elections on February 8
Mentioning serious security challenges in Southern KP and Balochistan, he said the electoral activities were however going on being participated by all the parties including the Pakistan Tehreek-e-Insaf.
Regarding the privatization process, he pledged dedicated efforts and said the caretaker government would take the process to the advanced stage where the reversal would be difficult even for the future government.
To another query, the prime minister said he had excellent working relations with the establishment and positive collaboration with the presidency. He commended President Arif Alvi as a decent and educated individual who had been cooperating on state affairs without significant impediments.
Discussing cricket, the prime minister said he had asked the Pakistan Cricket Board to diversify cricket and expand it from Lahore and Karachi to other parts with beautiful landscapes like Gwadar and Gilgit Baltistan. Spreading cricket will enhance people’s involvement, channelize national sports enthusiasm, and link tourism to create economic activity, he added.
He also called for partnering with Australia, the UK, and other cricketing nations to give a new strategic direction.
He said the government would also make efforts to ensure that all of the PSL contests are played locally in Pakistan.
On the Gaza situation, the prime minister said the two-state solution to Palestine issue was not just his stance but the world’s consensus under the Oslo Accord. He questioned the practicality of a one-state solution and advocated for letting Palestinians decide their future.