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On April 17, 2023, the buying rate of one Saudi Riyal (SAR) in Pakistani Rupees (PKR) in the open market was Rs 75.20, while the selling rate was Rs 76.20. 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. Today Pakistani Rupee to Saudi Riyal – PKR to SAR on April 16, 2023 ————————————————- Today Pakistani Rupee to Euro – PKR to EUR on April 17, 2023 On April 17, 2023, the buying rate of one Euro (EUR) in Pakistani Rupees (PKR) in the open market was Rs 310.00, while the selling rate was Rs 315.00. 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 indicat...

On April 16, 2023, the buying rate of one Saudi Riyal (SAR) in Pakistani Rupees (PKR) in the open market was Rs 75.20, while the selling rate was Rs 76.20. 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. Today Pakistani Rupee to Saudi Riyal – PKR to SAR on April 15, 2023 ————————————————- Today Pakistani Rupee to Euro – PKR to EUR on April 16, 2023 On April 16, 2023, the buying rate of one Euro (EUR) in Pakistani Rupees (PKR) in the open market was Rs 310.00, while the selling rate was Rs 315.00. 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 indicat...

Pakistan has set up a National Task Force (NTF) with the goal of adopting artificial intelligence (AI) to drive national development. The task force will be made up of experts in AI, as well as representatives from both the government and private sectors. According to a news release issued on Saturday, the NTF’s main objective is to develop a 10-year roadmap for accelerating the adoption of AI in various sectors, including business, development, governance, education, and healthcare. The task force aims to harness the power of AI for Pakistan’s growth and development while ensuring that the benefits are accessible to all segments of society. The establishment of the NTF is part of the government’s commitment to embracing the potential of AI to transform the country’s economic landscape positively. Minister for Planning Development and Special Initiatives, Professor Ahsan Iqbal, emphasized the importance of AI for progress in the near future, stating that “It (AI) will bring transfo...

The government Saturday announced an increase of Rs10 per liter in petrol prices ahead of Eid-ul-Fitr, a Muslim festival celebrated worldwide. This decision has sparked outrage among the people, particularly the poor masses, who are already struggling to make ends meet due to the ongoing economic crisis. According to a notification issued by the Finance Division, the increase in petroleum prices in the international market and exchange rate variation led to the revision of petrol prices. As Pakistan is a net importer of petroleum products, any change in exchange rates and international oil prices can impact domestic prices. The new price of petrol is Rs282 per liter, effective from April 16, 2023, up from the previous price of Rs272 per liter. The price of kerosene has also been increased by Rs5.78 to Rs186.07 per liter from Rs180.29. However, the prices of High Speed Diesel (HSD) and Light Diesel Oil (LDO) have been kept unchanged at Rs293 and Rs174.78, respectively. The timing o...

On April 15, 2023, the buying rate of one Saudi Riyal (SAR) in Pakistani Rupees (PKR) in the open market was Rs 75.70, while the selling rate was Rs 76.60. 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. Today Pakistani Rupee to Saudi Riyal – PKR to SAR on April 14, 2023 ————————————————- Today Pakistani Rupee to Euro – PKR to EUR on April 15, 2023 On April 15, 2023, the buying rate of one Euro (EUR) in Pakistani Rupees (PKR) in the open market was Rs 314.80, while the selling rate was Rs 318.00. 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 indicat...

The present coalition government in Pakistan has doubled the price of petroleum products since taking charge last year, according to official data released by the Pakistan Bureau of Statistics (PBS). The ruling party, Pakistan Democratic Movement (PDM), led by Shehbaz Sharif, took over after the removal of former Prime Minister Imran Khan through a vote of no confidence on April 10, 2023. The SPI based inflation report released by PBS for the week ending April 13, 2023, shows that the price of diesel has increased by 102.84%, while petrol has increased by 81.17%. This surge in prices comes despite a massive decline in international oil prices over the past year, with Brent crude dropping by over 20% during the same period. The previous government of Pakistan Tehreek-i-Insaaf (PTI) allowed for price subsidies and fixed the prices of petrol and diesel at Rs150 per liter for each product. However, the current government, faced with a serious financial crisis, decided to withdraw the ...

Karachi, the financial and commercial hub of Pakistan, is likely to face massive shortage of wheat flour shortage as mills have stopped grinding. The flour millers in Sindh province have resorted to close down their mills on Thursday evening after a press conference. Earlier in the day, the flour mills conducted the press conference. In Karachi, the city with a population of 30 million, the flour mills are facing a serious crisis. As wheat is not grown in the city, it is supplied from Sindh and Punjab to fulfill the necessary requirements. However, due to the recent check-posts established by the Department of Food, Sindh, the situation has worsened. According to reports, the check-posts have broken all previous records of corruption and bribery in the wheat supply chain. In order to transport wheat to Karachi, each mill owner has to pay a bribe of one lakh rupees, leading to an increase in the cost of wheat and ultimately resulting in a hike in the price of flour. The current rat...

President Dr Arif Alvi has ordered the Federal Board of Revenue (FBR) to explain how the identity of a whistle-blower who reported large-scale tax evasion/fraud by a private limited company was leaked to his employer, resulting in threats to the whistle-blower by the tax-evading company. The President also directed FBR to explain why it could not fully utilize the information provided by the whistle-blower to recover the maximum sales tax amount from the company, which caused a loss to the national exchequer. READ MORE: KTBA informs FBR of dysfunctional ATIR following Chairman’s retirement The President expressed his displeasure that the FBR did not take full advantage of the information provided by the whistle-blower about the alleged financial irregularities by the company and disclosed his identity. He rejected a representation filed by the FBR against the order of the Federal Tax Ombudsman (FTO) directing the FBR to revisit its relevant Assessment Order, provide an opportunity ...

Pakistan Microfinance Investment Company (PMIC) and Qarar Consultancy have announced a partnership to develop a credit scoring model for the microfinance sector in Pakistan. The credit scoring model will be developed under PMIC’s Challenge Fund-Round II, with Qarar partnering with an MFI and a credit bureau to access client level data for the development of the model. The partnership aims to leverage the strengths of both companies to deliver innovative and integrated solutions that enable microfinance providers to make faster and more accurate credit decisions, reducing the cost for clients and reducing risk for the portfolios of the MFI’s. PMIC, established to provide wholesale financial services to the microfinance sector in the country, focuses on improving employment and livelihood opportunities for marginalized segments in the country, especially women and youth. As of March 2023, PMIC has a loan portfolio of PKR 27.6 billion, deployed through 26 microfinance providers in 90 ...

On April 11, 2023, the buying rate of one Saudi Riyal (SAR) in Pakistani Rupees (PKR) in the open market was Rs 76.20, while the selling rate was Rs 77.00. 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 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. Today Pakistani Rupee to Saudi Riyal – PKR to SAR on April 10, 2023 ————————————————- Today Pakistani Rupee to Euro – PKR to EUR on April 11, 2023 On April 11, 2023, the buying rate of one Euro (EUR) in Pakistani Rupees (PKR) in the open market was Rs 312.00, while the selling rate was Rs 315.00. 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 indicat...

According to official data, investment in registered prize bonds in Pakistan has declined to Rs 56.84 billion by the end of February 2023, compared with Rs 56.90 billion a year ago. The decline in investment was particularly noticeable in the denomination of Rs 40,000 prize bonds, which fell to Rs 34.43 billion, compared with Rs 34.71 billion a year earlier. READ MORE: Pakistan increases profit rates on saving schemes However, investment in denomination of Rs 25,000 prize bonds increased to Rs 22.40 billion by February 2023, compared with Rs 22.19 billion a year earlier. The decline in investment in prize bonds can be attributed to the government’s efforts to bring unrecorded money into the formal economy in compliance with the conditions of the Financial Action Task Force (FATF). READ MORE: Dar chairs meeting to review implementation of Riba free system in Pakistan The government withdrew bearer prize bonds of high denominations and introduced registered prize bonds to document...

On April 10, 2023, the buying rate of one Saudi Riyal (SAR) in Pakistani Rupees (PKR) in the open market was Rs 77.00, while the selling rate was Rs 77.70. 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. Today Pakistani Rupee to Saudi Riyal – PKR to SAR on April 09, 2023 ————————————————- Today Pakistani Rupee to Euro – PKR to EUR on April 10, 2023 On April 10, 2023, the buying rate of one Euro (EUR) in Pakistani Rupees (PKR) in the open market was Rs 314.00, while the selling rate was Rs 317.00. 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 indicat...

On April 09, 2023, the buying rate of one Euro (EUR) in Pakistani Rupees (PKR) in the open market was Rs 314.00, while the selling rate was Rs 317.00. 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 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. The Euro/PKR parity depends on open market rates and is set by market forces based on foreign currency demand. Today Pakistani Rupee to Euro – PKR to EUR on April 08, 2023 ————————————————- Today Pakistani Rupee to UK Pound – PKR to GBP on April 09, 2023 On April 09, 2023, the buying rate of one UK Pound Sterling (GBP) in Pakistani Rupees (PKR) in the open market was Rs 358.00, while the selling rate was Rs 362.00. These rates are updated at 08:00 AM Pakistan Stand...

On April 09, 2023, the buying rate of one Saudi Riyal (SAR) in Pakistani Rupees (PKR) in the open market was Rs 77.00, while the selling rate was Rs 77.70. 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. Today Pakistani Rupee to Saudi Riyal – PKR to SAR on April 08, 2023 ————————————————- Today Pakistani Rupee to Euro – PKR to EUR on April 09, 2023 On April 09, 2023, the buying rate of one Euro (EUR) in Pakistani Rupees (PKR) in the open market was Rs 314.00, while the selling rate was Rs 317.00. 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 indicat...

Pakistan has launched probe into alleged tax evasion by international beverage companies including Pepsi and Coca Cola operating in the country. Sources in the Federal Board of Revenue (FBR) Saturday confirmed that the competent authorities had authorized the tax offices to depute tax officials at the factories of beverage manufacturing by Pepsi and Coca Cola at various cities of the country. READ MORE: FBR transfers top brass of Inland Revenue Service The offices of Inland Revenue have been instructed to depute staff at the factories and conduct daily monitoring of consumption of concentrate for bottlers and daily production and dispatch of concentrate for manufacturers and accordingly reported. Chief Commissioners of Inland Revenue (CCIR) have been directed to ensure vigilance teams that no lapse should occur in duty of the posted staff. READ MORE: Peshawar customs intelligence auctions motor vehicles on April 11 The sources said that tax offices had deputed staff at the facto...

On April 08, 2023, the buying rate of one Saudi Riyal (SAR) in Pakistani Rupees (PKR) in the open market was Rs 77.00, while the selling rate was Rs 77.70. 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. Today Pakistani Rupee to Saudi Riyal – PKR to SAR on April 07, 2023 ————————————————- Today Pakistani Rupee to Euro – PKR to EUR on April 08, 2023 On April 08, 2023, the buying rate of one Euro (EUR) in Pakistani Rupees (PKR) in the open market was Rs 314.00, while the selling rate was Rs 317.00. 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 indicat...

ISLAMABAD: Federal Board of Revenue (FBR) on Friday transferred top brass of Inland Revenue Service (IRS) in its ongoing reshuffle on senior officers. The FBR notified transfers and postings of 16 senior officers of BS-20 to BS-22. Revenue body transferred the following IRS officers: READ MORE: Peshawar customs intelligence auctions motor vehicles on April 11 01. Amir Ali Khan Talpur (Inland Revenue Service/BS-22) has been transferred and posted as Member, Audit and Accounting Federal Board of Revenue (Hq), Islamabad from the post of Director General, Directorate General of Intelligence & Investigation (Inland Revenue), Islamabad. 02. Syed Nadeem Hussain Rizvi (Inland Revenue Service/BS-22) has been transferred and posted as Member, Admin/HR Federal Board of Revenue (Hq), Islamabad from the post of Member, Federal Board of Revenue (Hq), Islamabad. 03. Sajidullah Siddiqui (Inland Revenue Service/BS-21) has been transferred and posted as Chief Commissioner Inland Revenue, Larg...

On April 07, 2023, the buying rate of one Saudi Riyal (SAR) in Pakistani Rupees (PKR) in the open market was Rs 76.80, while the selling rate was Rs 77.50. 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. Today Pakistani Rupee to Saudi Riyal – PKR to SAR on April 06, 2023 ————————————————- Today Pakistani Rupee to Euro – PKR to EUR on April 07, 2023 On April 07, 2023, the buying rate of one Euro (EUR) in Pakistani Rupees (PKR) in the open market was Rs 314.00, while the selling rate was Rs 317.00. 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 indicat...

KARACHI: Pakistan has prepared working for provide low-priced petrol to lower-income group of the society, a minister said on Wednesday. Minister of State for Petroleum Musadik Malik said that a scheme for the provision of low-priced petrol to lower-income groups was being worked out and it would be finalized in consultation with all the stakeholders. READ MORE: Pakistan’s March petroleum sales slump 35-month low The minister while talking to the media, said that there were different suggestions under consideration including the utilization of BISP network, the issuance of specific subsidy cards or generating a one-time password (OTP) for the ease of eligible citizens. He also apprised that petroleum dealers also presented some suggestions. The ministry was reviewing all suggestions and it would finalise the most viable and practical suggestions and devise the mechanism in consultation with all the stakeholders so that implementation on the scheme and provision of relief to citize...

Economic Coordination Committee (ECC) of the Cabinet on Wednesday approved amendments to Import Policy Order (IPO) 2022 regarding import of live animals and animal products. The ECC approved proposed amendments to the Import Policy Order-2022 related to the import of live animals and animal products, in accordance with guidelines from the World Organization of Animal Health (WOAH). READ MORE: World Bank paints bleak economic outlook for Pakistan; projects growth at 0.4% The ECC also approved grants for the repair and maintenance of public buildings and for payment of taxes and duties by the Intelligence Bureau. However, the ECC deferred decisions on amendments to the Import Policy Order-2022 pertaining to used Auto Lube Oil and on the approval of the National Telecommunication Corporation’s budget for the financial years 2021-22 and 2022-23. READ MORE: Pakistan exports plummet by 10% during July – March 2022-2023 Federal Minister for Power Khurram Dastgir Khan, Federal Minister ...