Gold price per tola sheds Rs1,000 in Pakistan
As per the rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), 10-gram gold was sold at Rs306,155 after it lost Rs858.
On Wednesday, gold price per tola reached Rs358,100 after a decline of Rs200 during the day.
The international rate of gold also saw a decrease today. The rate was at $3,344 per ounce (with a premium of $20), a loss of $10, as per APGJSA.
Meanwhile, silver price per tola also remained stable at Rs4,072.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Express Tribune
2 hours ago
- Express Tribune
PSX scales new peak despite profit-taking
Foreign funds would divert their liquidity into buying Pakistan's stocks. This would merely increases prices of shares and be profitable for those who already hold stocks. PHOTO: FILE The Pakistan Stock Exchange (PSX) extended its bullish run in the shortened four-day trading week, with the benchmark KSE-100 index hitting an all-time high of 147,005 points before closing at 146,492, up 1,109 points, or 0.8% week-on-week (WoW). The rally was fueled by robust corporate earnings, Moody's upgrade of Pakistan's sovereign rating to Caa1 and optimism about the declining circular debt in the power sector, though profit-taking capped gains by the week's end. On a day-on-day basis, bulls marched towards 150k on Monday with full excitement as the KSE-100 index breached 146k and ended the day at 146,930, up 1,547 points, in anticipation of a Pakistan-US trade deal. The bourse had a consolidation day on Tuesday where the KSE-100 floated in both directions and ultimately ended at 147,005 (+76 points) by keeping intact the 147k level as investors did some switching-cum-profit-taking. On Wednesday, profit-booking around 148k pushed the index to close negative at 146,529, down 476 points. After the break of the Independence Day, the PSX ended the last session of the week on a flat note, settling at 146,492, down 38 points. During the day, investors largely squared off weekly positions, which kept sentiment mixed and prevented the index from holding above the 147,000 mark. Arif Habib Limited (AHL), in its weekly review, noted that during the four-day trading week, shortened due to the Independence Day holiday, the KSE-100 index maintained its upward trajectory, reaching an all-time high of 147,005 points on Tuesday. The rally was fueled by healthy corporate earnings during the ongoing results season. Furthermore, Moody's upgraded Pakistan's sovereign rating to Caa1 from Caa2, citing improving external buffers, fiscal consolidation and reform progress under the IMF programme. In addition to this, the circular debt in the power sector declined to Rs1,614 billion as of June 2025, AHL said. In July, the auto industry recorded sales of 11,034 units, down 49% month-on-month (MoM) but up 28% year-on-year (YoY). Furthermore, oil production registered an uptick of 0.8% WoW, arriving at 59,604 barrels per day. Production at the Makori East and Nashpa increased during the week. Also, the Pakistani rupee appreciated marginally by 0.14% WoW, closing at 282.06 against the US dollar, it said. The sectors that contributed positively were banks (1,062 points), cement (531 points), auto parts (104 points), auto assemblers (67 points) and investment banks (62 points). Meanwhile, sector-wise negative contribution came from fertiliser (318 points), E&P (214 points), oil marketing companies (159 points), power (102 points) and refinery (43 points). Scrip-wise positive contribution came from Meezan Bank (354 points), Lucky Cement (289 points), HBL (253 points), Bank Alfalah (158 points) and Mari Petroleum (136 points). On the other hand, negative contributors were Fauji Fertiliser Company (313 points), Pakistan Petroleum (198 points), UBL (195 points), OGDC (171 points) and Hub Power (125 points). Average daily volumes arrived at 606 million shares, down 7.2% WoW, while the average traded value settled at $143.8 million, down 13.1%, AHL added. Wadee Zaman of JS Global mentioned that the KSE-100 extended its bullish streak during the outgoing week, touching the high of 147,534 points before slipping into the red on Friday. The index closed at 146,492 points, up 0.8% WoW. Investor sentiment was driven by Moody's upgrade of Pakistan's rating to Caa1 with the outlook changed to stable, reflecting the country's improving external position. On the economic front, he said, the power-sector circular debt dropped to Rs1.6 trillion by the end of June 2025, showing a notable reduction of 33% from last year's level of Rs2.4 trillion. It was largely attributed to the disbursement of Rs801 billion to power producers under the government's stock clearance drive. The Power Division is also expected to present its final proposal for the complete implementation of debt re-profiling with the Chinese independent power producers (IPPs), whose dues currently stand at Rs475 billion. Meanwhile, as per trade data, services' exports rose 9.2% YoY to $8.4 billion in FY25, Zaman said.
Express Tribune
2 hours ago
- Express Tribune
ECC for phasing out govt guarantee for Skill Bond
Pakistan's economic managers have stressed that government guarantee should be phased out to ensure that the Pakistan Skill Impact Bond become self-sustaining and move towards a public-private partnership model. The matter was taken up in a recent meeting of the Economic Coordination Committee (ECC) while considering a Rs1 billion government guarantee for floating the Pakistan Skill Impact Bond. During discussion, the committee said that a proposed steering committee should monitor the overall process of issuing the bond. Once the bond was floated, it could be listed, since there was already a provision for that. The Ministry of Federal Education and Professional Training briefed the meeting that the National Vocational and Technical Training Commission (NAVTTC), established in 2006, was mandated to spearhead the technical and vocational training programme by providing necessary support to the federating units for producing a market-driven workforce. The aim was not only to meet the industrial and self-employment needs but also export the trained manpower to the region and beyond. The Skill Impact Bond is a strategic solution designed to attract private capital for the Technical and Vocational Education and Training (TVET) sector, easing the financial burden on the government. It is expected to contribute significantly to national development by creating a skilled workforce that enhances productivity, reduces unemployment and promotes inclusive and sustainable economic growth. Considering the fast-changing technological landscape and the need to spur economic growth, the Federal Education and Professional Training Division told the ECC that it was imperative that NAVTTC mobilise additional resources to produce quality human resources by employing global best practices in cooperation with development actors, thereby reducing dependence on public funding. Countries such as the UK, India, Vietnam and Turkey have also floated Skill Impact Bonds. For instance, India has attracted more than $600 million in foreign investment through these bonds in the education and public health sectors. The division emphasised that the Skill Impact Bond marked a significant shift from the traditional funding models, transitioning from supply-driven training to demand-driven requirements and from input-based to outcome-based approaches. Risk investors will provide initial capital and receive returns based on the achievement of pre-determined, measurable social outcomes. The division further said that in the pilot phase NAVTTC, with the assistance of a bank (risk investor), planned to issue the Skill Impact Bond worth Rs1 billion, backed by the government guarantee. Following evaluation on September 4, 2024, The Bank of Punjab was selected as the risk investor, subject to the ECC's approval. It was highlighted that the apex committee of the Special Investment Facilitation Council (SIFC) had already approved the sovereign guarantee in its meeting held on February 7, 2024. The proposal for introducing the bond for sustainable skill development and vocational training was also endorsed by the Finance Division. A summary was submitted to the ECC on December 18, 2024, but the committee deferred its decision and directed the Ministry of Federal Education to develop a comprehensive business plan covering all aspects, including the syndication strategy, cash flow and commercial market elements. In compliance, a robust business plan was prepared along with a financial model.
Business Recorder
7 hours ago
- Business Recorder
Punjab CM to launch Rs600m veterinary internship programme
LAHORE: In another initiative aimed at promotion of livestock sector, Punjab Chief Minister Maryam Nawaz Sharif is going to launch 1st comprehensive Internship Programme for 1,000 veterinary graduates & Para Vets in Punjab. Chief Minister Punjab Maryam Nawaz Sharif highlighted, 'A substantial amount of Rs600 million has been allocated for the veterinary internship program. Under Chief Minister Maryam Nawaz Sharif's internship programme, veterinary graduates will get a monthly stipend of Rs60,000, while Para vets/livestock assistants will get Rs40,000 per month during internship.' She added, 'Veterinary graduates with a DVM degree recognised by Higher Education Commission can apply for the programme in their respective districts. Young people who have completed a 2-year LAD course can also apply for the internship programme in their respective districts.' The CM added, 'Veterinary graduates and para vets can apply from home via link: Quota for Veterinary Assistants, AI-Technicians and Lab Assistants in 36 districts of Punjab has been fixed.' The Chief Minister said, 'Livestock farmers will get animal treatment and consultation facility at their doorsteps through Veterinary Internship Programme. The aim of this Program is to promote and develop livestock in Punjab.' She underscored, 'Veterinary Internship Program will not only provide practical experience to youth in the field but will also provide them with a monthly stipend.' The Chief Minister said, 'We want to take full advantage of true potential of livestock in Punjab. Increased milk and meat production will also increase foreign exchange reserves.' She vowed, 'We want to make Punjab a hub for livestock and dairy development. We are with livestock farmers today, and will stand by them in future as well.' Copyright Business Recorder, 2025
