logo
Gold price per tola falls Rs3,000 in Pakistan

Gold price per tola falls Rs3,000 in Pakistan

Gold prices in Pakistan declined on Wednesday in line with their decrease in the international market. In the local market, gold price per tola reached Rs351,500 after a loss of Rs3,000 during the day.
As per the rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), 10-gram gold was sold at Rs301,354 after it shed Rs2,572.
On Tuesday, gold price per tola reached Rs354,500 after a gain of Rs1,500 during the day.
The international rate of gold decreased on Wednesday. The rate was at $3,292 per ounce (with a premium of $20), a loss of $33, as per APGJSA.
Meanwhile, silver price per tola remained unchanged at Rs3,841.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Gold price per tola sheds Rs1,100 in Pakistan
Gold price per tola sheds Rs1,100 in Pakistan

Business Recorder

time9 hours ago

  • Business Recorder

Gold price per tola sheds Rs1,100 in Pakistan

Gold prices in Pakistan decreased on Tuesday in line with their loss in the international market. In the local market, gold price per tola reached Rs356,600 after a decline of Rs1,100 during the day. As per the rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), 10-gram gold was sold at Rs305,727 after it shed Rs943. On Monday, gold price per tola reached Rs357,700 after a gain of Rs1,500 during the day. The international rate of gold also saw a decrease today. The rate was at $3,339 per ounce (with a premium of $20), a loss of $11, as per APGJSA. Meanwhile, silver price per tola remained unchanged at Rs4,031.

LSE Ventures approves stock split from Rs10 to Rs5 per share
LSE Ventures approves stock split from Rs10 to Rs5 per share

Business Recorder

time10 hours ago

  • Business Recorder

LSE Ventures approves stock split from Rs10 to Rs5 per share

LSE Ventures Limited announced on Monday that it had approved a stock split from Rs10 to Rs5 per share. This company announced in a notice to the Pakistan Stock Exchange (PSX) today. 'The approval is hereby accorded for subdivision of the authorized capital of LSE Ventures Limited from Rs3,000,000,000/- divided into 300,000,000 ordinary shares of Rs10.00 each to Rs3,000,000,000/- divided into 600,000,000 ordinary shares of Rs5.00 each.' 'Board of Directors of the company authorized to determine the entitlement dates and book closure dates to effectuate the stock-split,' it added. LSE Ventures Limited was established on Jul 18, 2022, with the purpose of holding the legacy capital market infrastructure investments that had been made during the time of the functioning of the former Lahore Stock Exchange (LSE). The principal activity of the company is to source and invest capital in growth oriented enterprises and emerging ventures generating positive cash flows.

CPEC debt relief: No free pass
CPEC debt relief: No free pass

Business Recorder

time17 hours ago

  • Business Recorder

CPEC debt relief: No free pass

The fate of the Rs1,275 billion power sector circular debt settlement—through refinancing the amount by 18 banks to disburse to the companies in the power sector chain, including Chinese IPPs—is contingent upon Chinese government approval. Authorities are hoping the PM will get the green light during his upcoming visit to China. The plan has been approved by the IMF on the assumption that all Late Payment Surcharges (LPS) will be waived. One of the reasons the Fund approved the plan is that it includes a form of rescheduling (or reprofiling) of the power sector debt within CPEC. However, if the Chinese do not agree, chances are the IMF may not entertain any revised plan that excludes the waiving of Chinese LPS. The Chinese may be reluctant to accept this based on optics. If they allow CPEC loans to be altered, it could set a precedent for the 50-odd other countries under the BRI to ask for relief. Some people say the Chinese may do it for us, as they have done some reprofiling in the case of nuclear power plants (K2 and K3 loans). However, that is a different story, as K2 and K3 are not part of CPEC. Thus, the widespread view is that the Chinese may not accept the proposal, based on optics, to avoid setting the wrong precedent for other borrowing countries. However, if we get lucky and China agrees to waive full (or partial) LPS, this may come with new—and perhaps harsher—conditions, IMF-style, which will be non-negotiable in the future. The question is what type of conditions the Chinese may apply, and whether these will be acceptable for us. Sources close to the Chinese say that one requirement could be to open a revolving account for IPPs under CPEC. This would ensure timely payment of all capacity charges going forward, and in case of non-compliance, it might effectively be treated as a default on due payments. This would mean invoices generated for August 2025 payments must be released within October 2025 to avoid any further delay and prevent additional LPS going forward. In effect, no new circular debt would be created in the future. That would be a tough condition, and given history, it is difficult to commit to payments for the next 10–20 years. If that happens, the Chinese may start repatriating dividends in large chunks. That would be different from the current situation, where IPPs get unsecured credit against pending payments. There could also be a second condition on the upfront tariff, as well as requirements to ensure the security of Chinese nationals in Pakistan. Sources say that even with all these conditions, the Chinese may, at best, accept a 50 percent waiver—against the government's wish for 100 percent. And if the government delays any payment in the future, the waived LPS could become part of the due payments. That is a slippery slope, as China must keep the overall BRI in mind during negotiations. There will be no carte blanche. Fingers crossed.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store