Pkrevenue.com

Day: November 17, 2021

  • Stocks fall 348 points on policy rate rise expectations

    Stocks fall 348 points on policy rate rise expectations

    KARACHI: The stocks fell by 348 points on Wednesday amid expectations of a rise in the key policy rate and high inflation. The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) ended at 46,194 points from the previous day’s closing of 46,542 points.

    Analysts at Arif Habib Limited said that bearish momentum was witnessed today as aggressive tightening of 100 basis points expected in the upcoming Monetary Policy Statement (MPS) announcement.

    With mounting inflationary expectations and rising secondary market yields, across-the-board sell-off was observed just after the opening bell of the market mainly led by the cement, steel, and technology stocks.

    Accumulation was witnessed in the banking stocks as investors opted for a cautious approach. In the last trading hour, value hunting was seen by the institutional buyers.

    Sectors contributing to the performance include Cements (-135.74 points), Technology & Comm. (-84.04 points), E&Ps (-34.05 points) and OMCs (-31.42 points).

    Volumes decreased from 243.19 million shares to 238.49 million shares (-1.9 per cent DoD). Traded value also decreased by -2.9 per cent to reach US$ 58.3 million as against US$ 60.0 million.

    Stocks that contributed significantly to the volumes include SERF, TRG, GGL, TPLP and MERITR2.

    Stock market climbs up 807 points on IPPs payment
  • SBP issues customers exchange rates for November 17

    SBP issues customers exchange rates for November 17

    Karachi, November 17, 2021 – The State Bank of Pakistan (SBP) has released the latest exchange rates for various foreign currencies against the Pakistani Rupee (PKR) on Wednesday, November 17, 2021.

    (more…)
  • Rupee sharply recovers to Rs173.76 against dollar

    Rupee sharply recovers to Rs173.76 against dollar

    KARACHI: The Pak Rupee (PKR) on Wednesday made a sharp recovery of Rs1.13 against the US dollar in the interbank foreign exchange market.

    The rupee ended Rs173.76 to the dollar from the previous day’s closing of Rs174.89 in the interbank foreign exchange market.

    The rupee has recovered Rs1.97 against the dollar during the past three sessions since the State Bank of Pakistan (SBP) decision to enhance the Cash Reserves Requirement (CRR).

    The SBP last Saturday decided to increase the average CRR from 5 percent to 6 percent and minimum CRR to be maintained each day from 3 percent to 4 percent.

    The SBP has decided the measure following the rupee hit an all-time low at Rs175.73 against the dollar on November 12, 2021.

    A day earlier the SBP also decided to announce the monetary policy statement ahead of the scheduled announcement in order to stabilize the money market.

    The large imports are continuously increasing the dollar demand. The import bill registered a growth of 65.15 per cent to $25.06 billion during July – October 2021 as compared with $15.17 billion in the same period of the last fiscal year.

    Rupee goes up 40 paisas against dollar in interbank
  • Today’s currency exchange rates in PKR – Nov 17, 2021

    Today’s currency exchange rates in PKR – Nov 17, 2021

    KARACHI: Following are the open market exchange rates of foreign currencies in Pak Rupee (PKR) in Pakistan on November 17, 2021 (The rates are updated at 11:53 PM Pakistan Standard Time):

    CurrencyBuyingSelling
    Australian Dollar (AUD)127.10129.10
     Bahrain Dinar (BHD)386.75388.50
     Canadian Dollar (CAD)138.60140.60
     China Yuan (CNY)23.7523.90
     Danish Krone (DNK)23.4523.75
     Euro (EUR)199.10201.10
     Hong Kong Dollar (HKD)16.7016.95
     Indian Rupee (INR)2.032.10
     Japanese Yen (JPY)1.411.44
     Kuwaiti Dinar (KWD)481.70484.20
     Malaysian Ringgit (MYR)36.4536.80
     NewZealand $ (NZD)96.4597.15
     Norwegians Krone (NOK)17.5017.75
     Omani Riyal (OMR)392.70394.70
     Qatari Riyal (QAR)39.9040.50
     Saudi Riyal (SAR)46.5547.05
     Singapore Dollar (SGD)127.10128.60
     Swedish Korona (SEK)18.5018.75
     Swiss Franc CHF)159.90160.80
     Thai Bhat (THB)4.804.90
     U.A.E Dirham (AED)48.5549.15
     UK Pound Sterling (GBP)234.60237.10
     US Dollar (USD)176.40177.90

    Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting the story. So the team is not responsible for any inaccuracy of the data.

    Today’s currency exchange rates in PKR – Nov 16, 2021
  • PM Imran to launch online sugar monitoring on Nov 23

    PM Imran to launch online sugar monitoring on Nov 23

    ISLAMABAD: Prime Minister Imran Khan will inaugurate the electronic monitoring of production and supply of sugar on November 23, 2023, a spokesman of the Federal Board of Revenue (FBR) said on Tuesday.

    “PM will inaugurate the Track & Trace System (TTS) of FBR for sugar industry on November 23, 2021,” the spokesman said through a Tweet.

    TTS will ensure electronic monitoring of manufacturing and sales of products of important sectors i.e tobacco, fertilizers, sugar and cement.

    The FBR on November 11, 2021 taken a major step for electronic monitoring of sugar production and supply by banning the movement of sugar bags from mills.

    The FBR banned the removal of sugar bags from mills without affixation of tax stamps / Unique Identification Marking (UIMs). The condition is applicable from November 11, 2021. The monitoring has been launched for sugar crushing season 2021/2022.

    In this regard, the FBR issued Sales Tax General Order (STGO) No. 05 of 2021-2022.

    The FBR said that sugar bags must have tax stamps, which are to be procured from FBR’s Licensee M/s. AJCL/MITAS/Authentix Consortium.

    Previously, the FBR through a notification on February 26, 2019, issued rules for the implementation of the track and trace system. Further, in March 11, 2021 the revenue board issued a Sales Tax General Order (STGO) to notify that the monitoring system

    According to the rules, all manufacturers of sugar products are warranted under the law to make necessary arrangements for importation of application and other equipment required for successful installation and implementation of track and trace systems at their production facilities.

    The electronic monitoring would help the FBR to record the actual quantity of sugar production and utilization of raw material by the sugar millers.

    By implementing the track and trace system, the FBR would get data of online monitoring from the sugar mills when they commence purchasing sugarcane from growers and start production of sugar products and subsequent selling to their dealers.

    The FBR has planned online monitoring of production lines of five sectors, including tobacco products, beverages, sugar, fertilizer and cement.

    FBR bans sugar bags movement without tax stamps