Pakistani gold rates record mighty increase resulting from global trends

KARACHI: The bullion market once again remained abuzz with rising on rates of gold on Saturday that recorded an Rs2,450 increase per tola and closed on Rs122,700 in the local market, ARY News reported.

A tola of gold after price hike today stood at Rs122,700, confirmed Muhammad Arshad, the chairman of the All Pakistan Jewellers Manufacturers Association.

Similarly, the 10-gram standard conceded Rs2,101 surge after which it sold at the rate of Rs105,195.

Muhammad Arshad said that this was due to the global surge in the bullion market and noted that just today a $26 increase was wielded by the gold for an ounce. The current trading of gold globally stands at $1818/ounce, he said.

Gold price in Pakistan records increase following global trends

It was yesterday reported that the charging back, after a respite of a few days owing to Saudi aid for Pakistani exchequer, saw gold ounce rising $11 translating to Rs450 per tola increase in the local market.

After the Rs450/tola increase yesterday, gold tola in the local market jumped to Rs120,250, confirmed then the APJMA chairman.

NEPRA notifies Rs1.68 per unit increase in power tariffs to now Rs15.36

Separately, the National Electric Power Regulatory Authority (NEPRA) has notified an Rs1.68 hike in power unit price that will now cost at an estimated Rs15.36 across Pakistan.

The power regulatory has issued a notification to that effect citing federal government’s directives behind the move. The surge in the basic unit tariff has been approved after the federal government asked for it, said NEPRA.

After the hike today, the basic power unit will cost about Rs15.36 but people using less than 200 units a month shall remain exempt from this hike, said NEPRA. It said the price will be effective for all the consumers including K Electric and it will be implemented after the federal government has issued its notification.