Author name: Yasir Zubairi

QUETTA — On June 23, the Pakistan Poverty Alleviation Fund (PPAF) and the Balochistan Rural Support Programme (BRSP) hosted a coordination meeting to evaluate livestock project advancements in Balochistan. District Livestock Officers (DLOs) from the Livestock and Dairy Development Department attended, focusing on efforts to enhance the province’s livestock sector. Meeting Highlights The meeting gathered key stakeholders involved in Balochistan’s livestock sector development. The PPAF and BRSP, with European Union (EU) collaboration, are actively working to improve livestock farming conditions, crucial for the province’s rural economy. Participants discussed ongoing projects, assessing the impact of initiatives designed to boost productivity and sustainability. District Livestock Officers commended the PPAF, BRSP, and EU for their collaborative efforts to strengthen the livestock sector. Discussions emphasized the importance of continued investment in infrastructure, training, and resources for sustainable success. The meeting also provided a platform to share best practices and address challenges faced by local farmers. Key Projects Reviewed Disease control in livestock Breed improvement techniques Market access for livestock products These projects require a comprehensive approach combining technical assistance and community engagement to benefit rural communities maximally. Background on Balochistan Balochistan, the largest Pakistani province by area, has a significant rural population relying on agriculture and livestock for livelihood. The region’s arid climate and limited resources create challenges for sustainable livestock farming. PPAF and BRSP, with EU support, have launched multiple programs to address these difficulties. Established in 2000, the PPAF is a leading institution in Pakistan aimed at poverty alleviation through community-driven development. The BRSP focuses on rural development in Balochistan, improving living standards through socio-economic initiatives. Their collaboration enhances rural community resilience by boosting livestock productivity and diversifying income sources. Economic Significance The livestock sector is vital to Balochistan’s economy, providing jobs and income for a significant population segment. Sector enhancement can improve food security, farmer income, and economic growth. The PPAF and BRSP efforts, backed by the EU, are key in overcoming challenges hindering livestock industry development in Balochistan. Enhancing livestock productivity leads to better nutrition for locals and increased export potential. By focusing on disease control and breed improvement, ongoing initiatives aim to reduce mortality rates and improve product quality. Improved market access can help farmers secure better prices, raising their income and reducing poverty. These developments align with Pakistan’s broader economic goals, emphasizing agriculture and livestock as pivotal for sustainable development. Successfully implementing these projects may serve as a model for similar initiatives nationwide, promoting rural development and economic resilience.

KARACHI — The National Bank of Pakistan (NBP), specifically through its Treasury Management Division, announced the latest foreign exchange rates on Tuesday, June 23. This update outlines the current buying and selling prices for various international currencies, vital for businesses, investors, and individuals engaged in currency transactions. Current Currency Rates The latest NBP announcement details the following major currencies and their rates: US Dollar (USD): Selling at 278.60 PKR, buying at 278.10 PKR Euro (EUR): Selling at 318.38 PKR, buying at 317.81 PKR British Pound (GBP): Selling at 368.99 PKR, buying at 368.33 PKR Other Currencies Rates for additional currencies include the Japanese Yen (JPY) at a selling price of 1.7244 PKR and buying rate of 1.7213 PKR. The Swiss Franc (CHF) sells at 344.54 PKR, buying at 343.92 PKR. The Canadian Dollar (CAD) is available at 196.67 PKR for selling and 196.31 PKR for buying. The Australian Dollar (AUD) is priced at 194.32 PKR for selling and 193.97 PKR for buying. Asian and Middle Eastern Currencies For Asian currencies, the Korean Won (KRW) sells at 0.1815 PKR, and the Chinese Yuan (CNY) at 41.09 PKR. The Malaysian Ringgit (MYR) lists at 67.34 PKR for selling. Middle Eastern currencies like the UAE Dirham (AED) sell at 75.86 PKR, and the Saudi Riyal (SAR) at 74.21 PKR. The Qatari Riyal (QAR) is at 76.45 PKR, with the highest being the Kuwaiti Dinar (KWD) at 905.72 PKR. Fixed Currency Deposits Conversion rates for frozen foreign currency deposits are noted with the USD at 278.1921 PKR, GBP at 366.9631 PKR, and EUR at 318.3908 PKR. The JPY conversion is 1.72 PKR. Background on Currency Updates NBP consistently updates its foreign exchange rates, reflecting market conditions crucial for importers, exporters, and general currency transactions. The Treasury Management Division monitors and sets these rates based on global trends. Pakistan’s foreign exchange market has historically been influenced by trade balances, foreign investments, and geopolitical factors. Relevance to the Economy These updated exchange rates are essential benchmarks for international trade and financial decisions. They impact the cost of imports, exports, and ultimately the economy’s stability. A high USD rate affects import costs and inflation, influencing consumer prices across Pakistan.

RAWALPINDI — Additional Deputy Commissioner (ADC) Headquarters Abdul Rehman Khan conducted a comprehensive review of security and civic arrangements in Kallar Syedan ahead of Muharram-ul-Haram. The official visit insured that preparations for the religious observances were in place and fully functional. Security Measures Assessment On June 23, ADC Abdul Rehman Khan, joined by the Assistant Commissioner of Kallar Syedan and officers from relevant departments, thoroughly inspected several imambargahs, majalis venues, and procession routes. The evaluation focused on security measures to protect participants during Muharram processions and gatherings. The ADC visited the Municipal Committee’s control room to assess the functionality and accessibility of CCTV monitoring systems. These systems are crucial for maintaining surveillance and ensuring a quick response to any untoward incidents. Additionally, panic buttons installed for emergencies were tested for operational readiness. Civic Preparations Reviewed Officials accompanying the ADC reported that he also inspected the cleanliness, sanitation, street lighting, and covering of manholes along the procession routes. These elements are essential for participant safety and comfort. The ADC instructed the concerned departments to maintain these arrangements according to Punjab government’s directives. Expressing satisfaction with the local administration and institutions’ preparedness, ADC Khan outlined directives for the immediate resolution of minor issues found during the inspection. This proactive stance is intended to ensure uninterrupted public participation in the religious events. Background of Muharram Observances Muharram-ul-Haram, the first month of the Islamic calendar, is of significant religious importance to Muslims, particularly the Shia community. It marks the commemoration of Imam Hussain’s martyrdom at the Battle of Karbala. The month is observed with solemnity, featuring processions and gatherings honoring Imam Hussain and his followers’ sacrifices. In Pakistan, Muharram sees heightened security measures due to large gatherings and processions. The government and local administrations implement extensive security plans to prevent threats and ensure participant safety. Significance of the Review The security and civic arrangements review in Kallar Syedan is vital for a peaceful and safe Muharram observance. Given the historical and emotional significance of Muharram, any security lapse could have severe consequences. The ADC’s proactive measures, in collaboration with local administration, aim to prevent disruptions and maintain public order during the observances. Economically, smoothly conducted Muharram processions can positively impact local businesses and vendors who rely on increased footfall during religious events. Ensuring safety and order can encourage more participation, boosting local commerce. Politically, successful management of Muharram events enhances public trust in local governance and law enforcement effectiveness. It demonstrates the administration’s ability to handle large-scale events and address community concerns. Key Takeaways ADC Abdul Rehman Khan reviewed security and civic arrangements in Kallar Syedan for Muharram. Inspections included imambargahs, majalis venues, and procession routes evaluating security measures. Functionality of CCTV systems and emergency response mechanisms was verified.

ISLAMABAD — On Tuesday, gold prices in Pakistan saw a significant drop, with 24-karat gold per tola falling by Rs 10,400. This decrease brought the price to Rs 432,236, down from Rs 442,636 the previous day, as reported by the All Pakistan Sarafa Gems and Jewellers Association. Reasons for the Price Drop Prices in the local gold market witnessed one of the most significant single-day declines recently. The All Pakistan Sarafa Gems and Jewellers Association, which regularly updates on gold rates, confirmed this drop. Fluctuations in the international gold market, driven by various economic factors, influenced this adjustment. The association cited a mix of factors for the price reduction, including changes in the international market and a stronger Pakistani rupee against the US dollar. A representative explained, “The gold market is highly sensitive to currency fluctuations and international trends, influencing today’s drop.” The rate for 10 grams of 24-karat gold also declined by Rs 8,915, settling at Rs 370,470, following the general market trend. Influence of International Trends Gold prices in Pakistan are closely tied to international trends since the country imports a significant amount of gold. Traditionally, gold is viewed as a safe-haven asset, with prices rising in economic uncertainty. However, recent trends reveal fluctuations due to various factors, such as changes in US Federal Reserve monetary policy, geopolitical tensions, and global demand shifts. In Pakistan, gold is more than a commodity; it holds cultural and economic significance, used widely in weddings and cultural ceremonies. The All Pakistan Sarafa Gems and Jewellers Association is pivotal in setting local rates, shaped by international prices, currency exchange rates, and local demand. Implications for Stakeholders This substantial decline in gold prices holds significant implications for various Pakistani stakeholders. For consumers, particularly those planning weddings or events requiring gold purchases, this drop is an opportunity to buy at reduced rates. Meanwhile, investors and traders face challenges predicting future trends and strategizing investments due to price volatility. Economically, lower gold prices impact the jewelry industry, a significant part of the Pakistani economy. While lower prices may boost consumer demand and potentially increase jewelry sales, a prolonged trend of declining prices could result in reduced profit margins for businesses in the sector. Key Takeaways Gold prices in Pakistan dropped by Rs 10,400 per tola, now at Rs 432,236. The decline is due to international market influences and a stronger rupee. The drop provides buying opportunities for consumers but challenges for investors. The jewelry industry may experience higher demand yet face lower profit margins. Gold price fluctuations indicate broader economic conditions in Pakistan.

ISLAMABAD — Pakistan’s fish and fish preparations exports have increased by 4.18%, reaching $445.247 million during the first eleven months of the current fiscal year, according to the Pakistan Bureau of Statistics (PBS). This growth reflects a positive trend in the country’s seafood industry compared to the same period last year. Export Growth and Contributing Factors PBS data reveals that from July to May, Pakistan exported fish and fish preparations worth $445.247 million, marking a 4.18% increase over the same period last year. This rise is due to improved fishing practices, enhanced processing facilities, and increased international demand for Pakistani seafood. The PBS report also indicates an upward trend in the volume of fish exports, boosting revenue. The growth persists despite industry challenges, such as environmental concerns and competition from other seafood-exporting countries. Government Initiatives Experts attribute this growth to government efforts supporting the fisheries sector. Initiatives include subsidies for modern fishing equipment and promoting sustainable fishing practices. Expanding export markets, especially in the Middle East and Southeast Asia, has opened new opportunities for Pakistani seafood. The Role of Fisheries in Pakistan’s Economy The fisheries sector is vital to Pakistan’s economy, providing livelihoods for millions in coastal regions and significantly contributing to the national GDP. The industry faces challenges like overfishing, inadequate infrastructure, and limited market access. Recently, government measures, such as developing modern fishing ports, introducing aquaculture projects, and enforcing overfishing regulations, aim to boost the sector’s sustainability and productivity. Economic and Social Implications Increasing fish exports positively impacts Pakistan’s economy by boosting foreign exchange earnings and reducing the trade deficit. The sector’s growth supports job creation and poverty alleviation in coastal communities. Economically, the rise in exports suggests the sector can play a more significant role in the global seafood market. By accessing new markets and improving product quality, Pakistan can enhance its competitive edge internationally. Socially, the fisheries sector’s growth supports food security. With a growing population, the demand for affordable protein sources like seafood is rising, ensuring a steady supply for domestic consumption. Internationally, increased fish exports strengthen Pakistan’s trade relations, fostering economic ties and enabling further bilateral cooperation in other sectors. Key Takeaways Pakistan’s fish exports increased by 4.18% to $445.247 million in the first eleven months of the fiscal year. Growth stems from improved fishing practices and expanding international markets. The fisheries sector is essential for GDP contribution and job creation in Pakistan. Government initiatives support industry sustainability and productivity.