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On April 01, 2023, the buying rate of one Saudi Riyal (SAR) in Pakistani Rupees (PKR) in the open market was Rs 75.50, while the selling rate was Rs 76.50. These rates are updated at 08:00 AM Pakistan Standard Time (PST) and are subject to change based on market forces and foreign currency demand. The buying rate indicates the rate at which an exchange company or bank buys foreign currency from a customer, while the selling rate indicates the rate at which an exchange company or bank sells foreign currency to a customer. READ MORE: Pakistani Rupee to Saudi Riyal – PKR to SAR on March 31, 2023 ————————————————- Today Pakistani Rupee to Euro – PKR to EUR on April 01, 2023 On April 01, 2023, the buying rate of one Euro (EUR) in Pakistani Rupees (PKR) in the open market was Rs 308.00, while the selling rate was Rs 311.00. These rates are updated at 08:00 AM Pakistan Standard Time (PST) and are subject to change based on market forces and foreign currency demand. The buying rate in...

On March 31, 2023, the buying rate of one Saudi Riyal (SAR) in Pakistani Rupees (PKR) in the open market was Rs 75.60, while the selling rate was Rs 76.40. These rates are updated at 08:00 AM Pakistan Standard Time (PST) and are subject to change based on market forces and foreign currency demand. The buying rate indicates the rate at which an exchange company or bank buys foreign currency from a customer, while the selling rate indicates the rate at which an exchange company or bank sells foreign currency to a customer. READ MORE: Pakistani Rupee to Saudi Riyal – PKR to SAR on March 30, 2023 ————————————————- Pakistani Rupee to Euro – PKR to EUR on March 31, 2023 On March 31, 2023, the buying rate of one Euro (EUR) in Pakistani Rupees (PKR) in the open market was Rs 306.00, while the selling rate was Rs 309.00. These rates are updated at 08:00 AM Pakistan Standard Time (PST) and are subject to change based on market forces and foreign currency demand. The buying rate indicate...

Industry sources have reported a decline of around 15% in the prices of immovable properties during the first three months of 2023 due to the imposition of new taxes and political uncertainty. The uncertain political situation has discouraged new investment in the property market, with overseas Pakistanis also hesitant to enter the market for the same reason. Additionally, changes in the capital gain tax for immovable property and the imposition of deemed income during the current fiscal year have contributed to the decrease in property prices. Shafi Jakvani, the Vice President of the Karachi Defence and Clifton Association of Real Estate Agents, stated that the government’s policies have further aggravated the investment scenario, adding that the heavy taxes on the property industry need to be reviewed to attract investment, given the already-declining prices of immovable properties. Jakvani further emphasized that the present political and economic situation is already discourag...

Rolex has recently introduced Oyster Perpetual Yacht-Master 42 – a master timepiece made of RLX titanium. The Oyster Perpetual Yacht-Master 42 comes in a 42mm size and is available in one captivating design: RLX Titanium. The recently launched Oyster Perpetual Yacht-Master 42 crafted from RLX titanium is both lightweight and durable, making it the perfect companion for individuals who value unrestricted mobility. With its exceptional watchmaking precision, this timepiece is ideal for the challenging conditions of competitive sailing, enhancing overall sporting performance. Rolex has released its second timepiece made of RLX titanium, the Yacht-Master 42, following the Oyster Perpetual Deepsea Challenge. This reaffirms the brand’s commitment to prioritizing lightness as a crucial quality in their products. The Yacht-Master collection now features RLX titanium for the first time. Rolex has chosen a grade 5 titanium alloy, known for its impressive mechanical strength and resistance ...

The Apple iPhone 14 Pro Max was launched in Pakistan on September 29, 2022. The cost of the phone varies depending on its storage capacity. The Gold iPhone 14 Pro Max with 128GB of internal memory is priced at Rs554,999, while the 256GB variant costs Rs589,999. The 512GB model is available for Rs659,999, and the 1TB version is priced at Rs721,399. This phone features a 6.7-inch Super Retina XDR display with ProMotion technology that includes an Always-On display feature. Additionally, it has a Ceramic Shield front cover that offers protection against common spills and accidents, as well as water and dust resistance. This phone’s main camera is equipped with a 48MP quad-pixel sensor that adjusts to the specific photo being captured, and it also features second-generation sensor-shift optical image stabilization. The camera system of this phone has several new features, such as a 12MP Ultra Wide camera, an improved Telephoto camera, a TrueDepth camera, an Adaptive True Tone flash, ...

Foreign investors have repatriated profit amounting $225 million from Pakistan during first eight months of 2022-2023 despite dollar crunch. Interestingly, the repatriation is higher than the inflow of $188 million foreign direct investment (FDI) into Pakistan in the same period of current fiscal year, according to data released by State Bank of Pakistan (SBP) on Monday. READ MORE: Pakistan defers increase in medicine prices Pakistan is currently facing a dollar crunch due to a widespread shortage of foreign exchange reserves, which has led to banks refusing to open letters of credit for even essential imports such as food and energy. This situation has resulted in multinational companies operating in Pakistan being unable to repatriate their dividends in recent quarters due to the restrictions on dollar outflows. READ MORE: Headline inflation may soar to historic high; further rate hike likely The country’s foreign exchange reserves are at a multi-year low, forcing the governme...

Finance Minister Ishaq Dar on Sunday hoped friendly countries would help Pakistan in current difficult economic situation. The finance minister said that the government is making all possible efforts to steer the economy of the difficult situation in order to put it on the path of sustainable economic growth. READ MORE: IMF needs external financing assurances to Pakistan for taking next step Addressing as chief guest an Iftar dinner hosted by the Islamabad Chamber of Commerce and Industry (ICCI) in honor of foreign diplomats, Dar said that friendly countries were expected to materialize their commitments with Pakistan that would pave the way to close the deal with the IMF and revive the economy. He said that in 2016, Pakistan was a rising economy as it was expected to become the world’s 18th-strongest economy, but was now facing serious economic challenges. He said that Pakistan would not default and the government was making all possible efforts to steer it out of a difficult sit...

A classification committee of Pakistan Customs has settled dispute for clearance of all-in-One Interactive Computer System, Core i7 with 86 inch touch LCD. The Classification Committee has determined that the “All-in-One Interactive Computer System, Core i7 with 86 inch touch LCD” imported by M/s Inovine, Plaza No.17, Iqbal Boulevard, Sector-A, DHA-II, Islamabad is appropriately classified under PCT Heading 8471.4190 as an automatic data processing machine, consisting of a flat panel LCD touch screen which performs as an input and output unit, equipped with a central processing unit core i7, 6GB RAM, and 250GB hard drive. READ MORE: Expected price of Realme GT Neo 5 in Pakistan The Committee came to this decision after considering the arguments and documents provided by both the importer and the Collectorate of Customs, Islamabad, as well as examining relevant provisions of law dealing with HS classification. They also perused a CROSS Customs Ruling from the United States that clas...

On March 25, 2023, the buying rate of one Saudi Riyal (SAR) in Pakistani Rupees (PKR) in the open market was Rs 75.40, while the selling rate was Rs 76.20. These rates are updated at 09:00 AM Pakistan Standard Time (PST) and are subject to change based on market forces and foreign currency demand. The buying rate indicates the rate at which an exchange company or bank buys foreign currency from a customer, while the selling rate indicates the rate at which an exchange company or bank sells foreign currency to a customer. Pakistani Rupee to Saudi Riyal – PKR to SAR on March 24, 2023 ————————————————- Pakistani Rupee to Euro – PKR to EUR on March 25, 2023 KARACHI: Following are the rates of buying and selling of one Euro (EUR) in Pakistani Rupee (PKR) in the open market on March 25, 2023: Buying: Rs 304.00 to the Euro Selling: Rs 307.00 to the Euro The buying rate means an exchange company or a bank buys foreign currency from a customer. The selling rate means an exchange comp...

Lucky Motor Corporation (LMC) has increased KIA car prices for second time during March 2023. The revised prices of KIA vehicles will be effective from April 01, 2023. The uncertain economic condition and highly volatile situation of the PKR/USD exchange rate have a negative impact on the cost of manufacturing for LMC. As a result, it has become challenging for LMC to maintain the current retail prices, and they are compelled to pass on some of the impact to the market. Following are the new prices of Kia Sportage: The price of KIA Sportage FWD is increased by Rs150,000 to Rs7,940,000 as compared to previous price tag of Rs7,790,000. The price of KIA Sportage AWD is increased by Rs200,000 to Rs8,570,000 as compared to previous price tag of Rs8,370,000. Following are the new prices of Kia Stonic: The price of KIA Stonic EX is increased by Rs150,000 to Rs5,350,000 as compared to previous price tag of Rs5,200,000. The price of KIA Stonic EX+ is increased by Rs200,000 to Rs5,930,0...

KARACHI: Following are the rates of buying and selling of one Saudi Riyal (SAR) in Pakistani Rupee (PKR) in the open market on March 24, 2023: Buying: Rs 75.40 to the Saudi Riyal Selling: Rs 76.20 to the Saudi Riyal The buying rate means an exchange company or a bank buys foreign currency from a customer. The selling rate means an exchange company or a bank sells for foreign currency from a customer. The rate has been updated at 09:00 AM Pakistan Standard Time (PST). The Saudi Riyal /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand. Pakistani Rupee to Saudi Riyal – PKR to SAR on March 23, 2023 ————————————————- Pakistani Rupee to Euro – PKR to EUR on March 24, 2023 KARACHI: Following are the rates of buying and selling of one Euro (EUR) in Pakistani Rupee (PKR) in the open market on March 24, 2023: Buying: Rs 302.50 to the Euro Selling: Rs 305.50 to the Euro The buying rate means an exchange company or a bank buys...

KARACHI: Following are the rates of buying and selling of one Saudi Riyal (SAR) in Pakistani Rupee (PKR) in the open market on March 23, 2023: Buying: Rs 75.40 to the Saudi Riyal Selling: Rs 76.20 to the Saudi Riyal The buying rate means an exchange company or a bank buys foreign currency from a customer. The selling rate means an exchange company or a bank sells for foreign currency from a customer. The rate has been updated at 09:00 AM Pakistan Standard Time (PST). The Saudi Riyal /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand. Pakistani Rupee to Saudi Riyal – PKR to SAR on March 22, 2023 ————————————————- Pakistani Rupee to Euro – PKR to EUR on March 23, 2023 KARACHI: Following are the rates of buying and selling of one Euro (EUR) in Pakistani Rupee (PKR) in the open market on March 23, 2023: Buying: Rs 302.50 to the Euro Selling: Rs 305.50 to the Euro The buying rate means an exchange company or a bank buys...

Banks across the country will observe banking hours for public dealing from 9:00AM to 2:00PM during Ramazan 1444 AH. State Bank of Pakistan (SBP) said that banks will observe the revised timings during Ramazan starting from March 23, 2023: The SBP advised banks and microfinance banks to observe the following business (banking) hours for public dealing: Days Business (Banking) Hours for Public Dealing Monday to Thursday 09:00 a.m. to 02:00 p.m. (without break) Friday 08:30 a.m. to 01:00 p.m. (without break) The SBP further stated that during the ensuing month of Ramazan-ul-Mubarak 1444 A.H., the following office hours will be observed in the State Bank of Pakistan, which will also be followed by all banks / DFIs / MFBs: Days Office Hours Monday to Thursday 09:00 a.m. to 03:30 p.m. (prayer break 02:00 p.m. to 02:30 p.m.) Friday 08:30 a.m. to 01:00 p.m. (without break) After the month of Ramadan-ul-Mubarak, the above timings will automatically re...

Pak Suzuki Motor Company has updated the prices upward of Suzuki Cultus trims after the imposition of 18 per cent sales tax and devaluation of Pakistani Rupee (PKR) against US Dollar. The uncertain economic situation of the country and volatile exchange rate has increased cost of production of Suzuki, compelling the company to increase retail selling prices and pass on the burden to market. The vehicle is launched in three variants which include Suzuki Cultus VXR, Suzuki Cultus VXL, and Suzuki Cultus AGS. The prices of these variants as on March 21, 2023 are given below. The ex-factory price of Suzuki Cultus VXR is Rs3,540,000. The ex-factory price of Cultus VXL is Rs3,889,000. The ex-factory price of Cultus AGS is Rs4,157,000. Filers have to pay Rs20,000 at the time of car booking whereas, non-filers have to pay Rs60,000 at the time of booking. The vehicle is available in colors including Pearl Black, Graphite Gray, Silky Silver, Solid White and Cerulean Blue. The car has 998 1....

DEAR DEIDRE: I GOT arrested after an argument broke out at home over my stepson. My wife can’t see that he’s a gaming addict and needs help. After graduating, he came to live with us. He’s 22 and he’s bright. He was doing a computer course but had zero friends.  He plays on his Xbox for 14 hours or more a day. I’ve offered him work at my car parts business but he doesn’t want to know. When I ranted about him to my wife, she took his side, then went to hit me. Thankfully she missed but I almost hit her back. She called the police and thank goodness after hearing my side of the story, they released me without charge. I’m 45 and my wife is 46. Get in touch with the Dear Deidre team Every problem gets a personal reply from one of our trained counsellors. Fill out and submit our easy-to-use and confidential form and the Dear Deidre team will get back to you. You can also send a private message on the DearDeidreOfficial Facebook page. DEIDRE SAYS:  Talk calmly to...

KARACHI: Sindh Revenue Board (SRB) has been empowered to seal businesses of persons not on the active taxpayers list (ATL). Sources in the SRB told PKRevenue.com that the Sindh government has authorized the provincial revenue authority to take action against non-compliant businessmen through invoking provisions related to sealing business premises. READ MORE: FBR notifies transfers, postings of 43 IR officers The sources said that the Sindh Assembly recently passed the Sind Sales Tax on Services (Amendment) Act which introduced many changes to the main law. A section 54B has been added to the Sindh Sales Tax on Service Act, which empowered the SRB to seal the business premises. According to the Section: “If an officer of the SRB, not below the rank of a Commissioner, is satisfied that any person: (a) is liable to be registered under this Act but is not actually registered in terms of the provisions of Section 24; or READ MORE: FBR freezes bank accounts of leading businessmen, b...

 

KARACHI: State Bank of Pakistan (SBP) on Friday revised interchange reimbursement fee for cards issued in the country used on domestic point of sale (POS) terminals. The central bank said that in order to facilitate the acceptance of card-based payments, it has been decided that: Interchange Reimbursement Fee (IRF) for cards issued in Pakistan used on domestic POS terminals shall be as follows: READ MORE: Nisab of Zakat notified for deduction from bank accounts a) for debit and prepaid cards – not exceeding 0.2 per cent b) for credit cards – not exceeding 0.7 per cent Lower range of Merchant Discount Rate (MDR) i.e. 1.5 per cent is abolished in terms of the clause 2 (i) of PSD Circular No. 01 of 2020. All e-commerce/online payment acquirers operating in Pakistan shall enable acceptance of Domestic Payment Scheme (DPS) card for card-not-present (CNP) transactions on their respective payment gateways by June 30, 2023. READ MORE: SBP issues Rs50 coin to commemorate Golden Jubilee...

Indus Motor Company (IMC) launched Toyota Revo GR-S – new model in line-up of Revo variants. The vehicle is introduced with advanced features making it unmatched in every terrain. Toyota Revo GR-S offers holistic 4X4 functionality and a durable body-on-frame platform to produce the perfect mix of unbridled power with revolutionary agility. The ex-factory price of Toyota Revo GR-S is Rs16,149,000 as on March 18, 2023. Toyota GR-S is powered by new generation 2.8L 1GD-FTV 2755cc diesel engine, which generates maximum output of 150KW @ 3000-3400 RPM and maximum torque of 500NM @ 1600-2800 RPM. The exterior of Revo is equipped with new honey-comb structured front grille, designed to stand out and endure maximum impact so you can venture into the unknown with ultimate reassurance. Revo features new front lamp cover design, outside rear view mirror, over fender molding, new sports bar, tailgate handle, GR bagde, Daytime Running Lights (DRLs) and smart LED headlamps. Revo highlights 18...

 

 

 

 

   

KARACHI: InfraZamin collaborated with Nutshell Group to jointly host Pakistan’s first ever Infrastructure Summit at a local hotel in Karachi. Infrastructure development helps reduce unemployment and stimulates economic growth. In his welcome address, Muhammad Azfar Ahsan, Founder and CEO, Nutshell Group, and former Minister of State amd Chairman, Board of Investment, said, “For infrastructure, we need political stability for an empowered public sector funding and though there is a huge potential for economic growth through foreign direct investment, we need to focus on the local investors first and mobilize that money on priority.” Maheen Rehman, CEO, InfraZamin, emphasized the importance of infrastructure development. She said that as a country of 220 million people, we should be spending 10 per cent of our GDP for developing the infrastructure on an annual basis, whereas our current spending is less than 2 per cent. She highlighted the need for rigorous development in the areas ...

THE ROYAL Navy has been escorting a Russian tanker and frigate through waters close to the UK today as Vladimir Putin’s forces suffer heavy causalities. HMS Portland’s commanding officer, Commander Ed Moss-Ward said: “The Royal Navy routinely responds to escort warships in our territorial waters and the adjacent sea areas to ensure compliance with maritime law and to deter malign activity. “Escorting the Russian task group alongside allied partners demonstrates the commitment of the Royal Navy and the NATO alliance to maintaining maritime security which is crucial to our national interests.” It comes as Vladimir Putin’s failing army has endured “extremely heavy casualties” in Ukraine as the battle for a key city rages on. It is estimated some 30,000 of Putin’s troops have died in the “meat grinder” battle for Bakhmut despite claims they had advanced – with the intense battle continuing for the last nine months of the Ukraine war. Read our Ukraine war blog belo...

Oppo has launched its new flip phone – Find N2 Flip which is competing against Samsung Galaxy Z Flip 4. The phone has largest cover screen of its kind with day-long battery life and SUPERVOOC flash charging, Find N2 Flip takes foldables from the fringes to the forefront in a compact, sleek, awesome way. Find N2 Flip’s flagship 50MP main camera features a large Sony IMX890 sensor with an f/1.8 lens – a strong foundation for incredible imaging. Unlock even more creativity with FlexForm Mode, made possible by the New Generation Flexion Hinge, as Find N2 Flip holds its position mid-fold between 45º and 110º for waist-level dynamic angles, and evocative 4K time-lapse video. FlexForm Mode also turns your flip phone into a tripod-steady, hands-free camera. Just part-fold it, place it on a surface and then trigger the shutter release with an open palm gesture – perfect for group shots. It also harnesses the power of the 32MP selfie camera. With its Sony IMX709 sensor, autofocus, and wide-a...