Prime Minister Shehbaz Sharif arrived in Riyadh today for a two-day official visit to Saudi Arabia, marking another chapter in the enduring partnership between the two nations. This visit comes amid shared regional challenges and opportunities for collaboration, underscoring Pakistan’s commitment to strengthening ties with the Kingdom. Upon his arrival at King Khalid International Airport, Prime Minister Sharif was received by Riyadh’s Deputy Governor, Prince Muhammad bin Abdulrahman bin Abdulaziz, alongside Pakistan’s Ambassador to Saudi Arabia, Ahmed Farooq, and senior Saudi officials. The warm reception highlighted the strategic importance of Pakistan-Saudi relations. Agenda of the Visit During this visit, Prime Minister Sharif will participate in the One Water Summit , a critical platform that brings together global leaders to address water security issues. Organized in collaboration with Saudi Arabia, France, Kazakhstan, and the World Bank, the summit aims to develop s...
The Pakistani rupee’s recent downward spiral against the US dollar has raised concerns about the nation’s economic stability. As the currency continues to depreciate, the causes and consequences of this decline have come under scrutiny. The State Bank of Pakistan’s data indicates a worrying trend, and analysts believe a combination of economic mismanagement and political uncertainty have contributed to this situation. The Numbers Tell the Story According to the State Bank of Pakistan’s data, the Pakistani rupee slid by Rs1.4 against the US dollar, closing at Rs304.45 in the interbank market. However, the situation was more dire in the open market, where the dollar was trading at Rs319.5, as reported by the Exchange Companies Association of Pakistan. This discrepancy highlights the complex dynamics of currency exchange and the challenges of accurately gauging the rupee’s actual value. Economic Mismanagement and Political Uncertainty The rupee’s depreciation has been exacerba...