Gold price per tola gains Rs1,500 in Pakistan
Gold prices in Pakistan further increased on Saturday in line with their surge in the international market. In the local market, gold price per tola reached Rs363,000 after it gained Rs1,500 during the day.
As per the rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), 10-gram gold was sold at Rs311,213 after it gained Rs1,206.
On Friday, gold price per tola reached Rs361,500 after it gained Rs4,600 during the day.
The international rate of gold also surged on Saturday. The rate was at $3,432 per ounce (with a premium of $20), an increase of $15, as per APGJSA.
Meanwhile, silver price per tola increased by Rs7 to settle at Rs3,787.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Express Tribune
4 hours ago
- Express Tribune
CM outlines fiscal, development agenda
Sindh Chief Minister Murad Ali Shah outlined a fiscal and development agenda for the province while highlighting serious financial challenges and federal shortfalls. Addressing a post-budget press conference on Saturday, the CM criticised the federal government for failing to meet its financial commitments, revealing that Sindh was informed just one day before the budget presentation that Rs105 billion in expected funds would be withheld. Sindh has received Rs1,478.5 billion from the divisible pool since last year, but Rs422.3 billion remains outstanding. He expressed hope that the withheld amount would be disbursed by the end of June. Despite being under an IMF programme that demands strict fiscal discipline, the Sindh government will allocate Rs590 billion for development projects this year, with a total budget of Rs3.45 trillion, Rs1 trillion for development and Rs2.15 trillion for current expenditures. Notably, Rs1.1 trillion is earmarked for salaries and pensions, leading to salary increases of 12 per cent for lower-grade employees and 10 per cent for higher grades. Sectoral budget increases include an 18 per cent rise in education funding and an 11 per cent increase in health. Funding for agriculture, irrigation, and local government projects has also seen significant boosts. Furthermore, Rs236 billion has been allocated for infrastructure projects in Karachi, including public-private partnership initiatives. CM Shah highlighted Sindh's social welfare achievements, particularly in housing for flood victims, with 500,000 homes built and another 850,000 under construction, totalling 1.3 million. To enhance rural living standards, the CM announced a Rs600-billion-project for rural water and sanitation, benefiting 4.5 million villagers. Regarding taxation, Murad noted that no new taxes were introduced in the budget, with some taxes eliminated or reduced, including the abolition of the entertainment tax and cuts to restaurant taxes. The stamp duty on third-party vehicle insurance has been reduced to Rs50, with a drop in the insurance tax from 15 per cent to five per cent. To modernise governance, the Sindh government is digitising land records through block chain for easier access. The CM claimed that free laser levellers will be provided to small farmers, with subsidies for larger ones, alongside the implementation of cluster farming technology. The CM said that improvements in education and health include the establishment of 34,000 new caste centres and expanded support for persons with disabilities. Cognitive Remediation The CM outlined the K-4 water project structure, where the federal government is responsible for sourcing water from Keenjhar Lake, while the Sindh government manages distribution and has allocated necessary funds. A total of Rs20 billion is earmarked for the K-4 feeder, alongside plans for a costly five-million-gallon desalination plant. The CM also noted 20,000 to 25,000 job vacancies in grades I to IV, with plans for recruitment via IBA-administered tests for BPS-V to VII and filling higher Grade 16 positions. The CM mentioned Sindh's conditions for supporting the federal budget, emphasising equitable distribution of development schemes and the detrimental cut of university funding from Rs4 billion to Rs2 billion, which has sparked protests. On the critical Sukkur-Hyderabad Motorway, the CM expressed concern over the halving of federal funding from Rs30 billion to Rs15 billion. The CM emphasised that major projects are not included in the Federal Public Sector Development Programme (PSDP) and criticised the 18 per cent tax on solar panels as unjust. He warned that the Pakistan Peoples Party would not support the federal budget if unresolved.
Business Recorder
10 hours ago
- Business Recorder
Farmers start receiving tractors under wheat support programme
LAHORE: The Punjab government has started distributing green tractors among farmers under its wheat support programme to encourage wheat cultivation across the province. A total of 1,000 tractors are being handed over through a transparent balloting process. Speaking at a distribution ceremony held in Multan as part of the 'Grow More Wheat' campaign, Punjab Agriculture Minister Syed Ashiq Hussain Kirmani said the Chief Minister of Punjab has introduced a landmark Rs27 billion package to promote wheat farming and increase production. As part of the wheat production competition, farmers at the provincial level will receive an 85-horsepower tractor for the first prize, a 75-horsepower tractor for second, and a 60-horsepower tractor for third. At the district level, the first prize is Rs1 million, second prize Rs0.8 million, and third prize Rs0.5 million. Under this initiative, farmers with wheat crops on 1 to 12.5 acres are receiving a subsidy of Rs5,000 per acre. The minister added that in the Multan Division, 109 farmers are being given tractors under the campaign. He also noted that in the first phase of the Green Tractors Programme, 9,500 farmers had already received tractors. In the second phase, 20,000 more tractors will be distributed. Meanwhile, Phase 2 of the Chief Minister Punjab Kisan Card scheme is offering interest-free loans worth Rs100 billion. The maximum loan limit has been raised to Rs300,000, and landholding eligibility increased to 25 acres. Farmers can withdraw 30% of the loan in cash, while 20% is reserved for diesel. To support the scheme, 4,000 registered dealers and over 700 PSO fuel stations have been included in the network. The ceremony was also addressed by Secretary Agriculture Punjab Iftikhar Ali Sahoo. On this occasion, Minister Syed Ashiq Hussain Kirmani handed over keys of the green tractors to successful farmers. Copyright Business Recorder, 2025
Business Recorder
10 hours ago
- Business Recorder
PTI criticises energy policies of govt
ISLAMABAD: The opposition Pakistan Tehreek-e-Insaf (PTI) on Saturday launched a scathing attack on the government, accusing it of enacting 'short-sighted, flawed, and misguided' policies that have crippled the power sector and driven electricity beyond the reach of millions. Speaking at a presser, Opposition Leader in National Assembly Omar Ayub took direct aim at the government's energy and fiscal management, flanked by senior PTI leaders Shibli Faraz, Sheikh Waqas Akram, and Taimur Jhagra. Together, they painted a grim picture: ballooning utility bills, decaying infrastructure, and chronic mismanagement. 'Electricity was far more affordable under our government,' Ayub said. 'Now, its prices have skyrocketed, and even the federal capital is experiencing frequent outages. The infrastructure is outdated, the number of feeders is inadequate, and demand continues to rise.' Citing escalating global oil prices exacerbated by the ongoing Israel-Iran conflict, Ayub warned that the economic fallout could drive Pakistan further toward collapse. ASRE 2025: Economic and energy policies must be aligned: experts Turning to the federal budget, Ayub called it a disaster, criticising the government's approach to energy policy. They can't stand the idea of affordable electricity, he said. 'The projects we initiated for Rs450 billion are now costing Rs2,000 billion – not due to inflation, but because of mismanagement and sheer incompetence.' He condemned the recurring Fuel Price Adjustments (FPA), arguing that they disproportionately burden ordinary citizens. 'Rates shift every three months, and it is always the people who pay,' he lamented. Ayub also accused the government of blocking the broadcast of his budget speech. 'They are afraid of the truth and that's the reason they censored my speech on the finance bill,' he claimed. He warned of a ballooning budget deficit – Rs6,501 billion – and looming threats of oil shortages and surging interest rates. 'This government must be held accountable. There is no alternative but to send them home.' However, Shibli Faraz echoed Ayub's concerns. 'Regional conflict will only drive fuel prices higher, and it is the people who will bear the cost. We have been saddled with corrupt, incompetent rulers.' Despite a reported 80,000 megawatt generation capacity under the PTI government, Faraz argued, power remains unaffordable. 'People want to pay their bills but they simply can't.' He also criticised the government's decision to impose an 18 per cent tax on solar panels, calling it a penalty on those seeking alternatives. 'We had a strategy in 2022 to promote competition. None of it has been implemented.' He pointed to a rising circular debt, inconsistent electricity supply, and outstanding payments to energy firms. 'There has been zero meaningful progress. PML-N and PPP are directly responsibility for this crisis.' Though the current generation capacity stands at 46,000 megawatts, Faraz said, cities remain in darkness, and load-shedding is worse than ever. Taimur Jhagra, an ex-provincial finance minister of PTI, severely criticised the government's limited privatisation effort – targeting only LESCO, FESCO, and IESCO – as insufficient and uneven. 'Millions in ex-FATA remain entirely without electricity,' he said. 'Who will be held accountable?' He said the Khyber-Pakhtunkhwa budget had been presented and citizens would soon see the difference. He also raised questions about the legal basis for the ongoing isolation of PTI patron-in-chief Imran Khan. 'What law allows this? Why is he being punished?' Jhagra said Punjab now endures more than 12 hours of daily load-shedding, while KP swelters under 46°C heat. 'Basic rights are being denied. Agriculture has completely collapsed. Even Bangladesh has gone ahead of us in energy.' Closing the presser, PTI spokesman Sheikh Waqas Akram spotlighted the crisis in rural areas of the country particularly in KP, Balochistan, Sindh, and southern Punjab, where power shortages have become acute. He said privatisation would fall short without fundamental reforms in IESCO and LESCO. Copyright Business Recorder, 2025
