Author: Hamza Shahnawaz

  • Pakistani Rupee to Euro on August 18, 2022

    Pakistani Rupee to Euro on August 18, 2022

    KARACHI: Following are the rates of buying and selling of one Euro (EUR) in Pakistani Rupee (PKR) in the open market on August 18, 2022:

    Buying: Rs 218.50 to the Euro

    Selling: Rs 221.00 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 company or a bank sells for foreign currency from a customer.

    The rate has been updated at 05:00 AM Pakistan Standard Time (PST).

    The Euro /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to Euro on August 17, 2022

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    Pakistani Rupee to UK Pound Sterling on August 18, 2022

    KARACHI: Following are the rates of buying and selling of one UK Pound Sterling (GBP) in Pakistani Rupee (PKR) in the open market on August 18, 2022:

    Buying: Rs 260.00 to the UK Pound Sterling

    Selling: Rs 263.00 to the UK Pound Sterling

    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 the foreign currency from a customer.

    The rate has been updated at 05:00 AM Pakistan Standard Time (PST).

    The UK Pound Sterling /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to UK Pound Sterling on August 17, 2022

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    Pakistani Rupee to UAE Dirham on August 18, 2022

    KARACHI: Following are the rates of buying and selling of one UAE Dirham (AED) in Pakistani Rupee (PKR) in the open market on August 18, 2022:

    Buying: Rs 58.60 to the UAE Dirham

    Selling: Rs 59.20 to the UAE Dirham

    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 the foreign currency from a customer.

    The rate has been updated at 05:00 AM Pakistan Standard Time (PST).

    The UAE Dirham /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to UAE Dirham on August 17, 2022

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    Pakistani Rupee to Canadian Dollar on August 18, 2022

    KARACHI: Following are the rates of buying and selling of one Canadian Dollar (CAD) in Pakistani Rupee (PKR) in the open market on August 18, 2022:

    Buying: Rs 166.00 to the Canadian Dollar

    Selling: Rs 168.00 to the Canadian Dollar

    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 05:00 AM Pakistan Standard Time (PST).

    The Canadian Dollar /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to Canadian Dollar on August 17, 2022

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    Pakistani Rupee to US Dollar on August 18, 2022

    KARACHI: Following are the rates of buying and selling of one US dollar (USD) in Pakistani Rupee (PKR) in the open market on August 18, 2022:

    Buying: Rs 214.00 to the US Dollar

    Selling: Rs 216.00 to the US Dollar

    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 the foreign currency from a customer.

    The rate has been updated at 05:00 AM Pakistan Standard Time (PST).

    The US Dollar /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to US Dollar on August 17, 2022

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    Pakistani Rupee to Saudi Riyal on August 18, 2022

    KARACHI: Following are the rates of buying and selling of one Saudi Riyal (SAR) in Pakistani Rupee (PKR) in the open market on August 18, 2022:

    Buying: Rs 57.40 to the Saudi Riyal

    Selling: Rs 58.00 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 05:00 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 on August 17, 2022

    ————————————————-

    Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. The given rates are opening for the day. 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.

  • Pakistani Rupee to Saudi Riyal on August 18, 2022

    Pakistani Rupee to Saudi Riyal on August 18, 2022

    KARACHI: Following are the rates of buying and selling of one Saudi Riyal (SAR) in Pakistani Rupee (PKR) in the open market on August 18, 2022:

    Buying: Rs 57.40 to the Saudi Riyal

    Selling: Rs 58.00 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 05:00 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 on August 17, 2022

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    Pakistani Rupee to Euro on August 18, 2022

    KARACHI: Following are the rates of buying and selling of one Euro (EUR) in Pakistani Rupee (PKR) in the open market on August 18, 2022:

    Buying: Rs 218.50 to the Euro

    Selling: Rs 221.00 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 company or a bank sells for foreign currency from a customer.

    The rate has been updated at 05:00 AM Pakistan Standard Time (PST).

    The Euro /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to Euro on August 17, 2022

    ————————————————-

    Pakistani Rupee to UK Pound Sterling on August 18, 2022

    KARACHI: Following are the rates of buying and selling of one UK Pound Sterling (GBP) in Pakistani Rupee (PKR) in the open market on August 18, 2022:

    Buying: Rs 260.00 to the UK Pound Sterling

    Selling: Rs 263.00 to the UK Pound Sterling

    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 the foreign currency from a customer.

    The rate has been updated at 05:00 AM Pakistan Standard Time (PST).

    The UK Pound Sterling /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to UK Pound Sterling on August 17, 2022

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    Pakistani Rupee to UAE Dirham on August 18, 2022

    KARACHI: Following are the rates of buying and selling of one UAE Dirham (AED) in Pakistani Rupee (PKR) in the open market on August 18, 2022:

    Buying: Rs 58.60 to the UAE Dirham

    Selling: Rs 59.20 to the UAE Dirham

    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 the foreign currency from a customer.

    The rate has been updated at 05:00 AM Pakistan Standard Time (PST).

    The UAE Dirham /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to UAE Dirham on August 17, 2022

    ————————————————-

    Pakistani Rupee to Canadian Dollar on August 18, 2022

    KARACHI: Following are the rates of buying and selling of one Canadian Dollar (CAD) in Pakistani Rupee (PKR) in the open market on August 18, 2022:

    Buying: Rs 166.00 to the Canadian Dollar

    Selling: Rs 168.00 to the Canadian Dollar

    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 05:00 AM Pakistan Standard Time (PST).

    The Canadian Dollar /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to Canadian Dollar on August 17, 2022

    ————————————————-

    Pakistani Rupee to US Dollar on August 18, 2022

    KARACHI: Following are the rates of buying and selling of one US dollar (USD) in Pakistani Rupee (PKR) in the open market on August 18, 2022:

    Buying: Rs 214.00 to the US Dollar

    Selling: Rs 216.00 to the US Dollar

    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 the foreign currency from a customer.

    The rate has been updated at 05:00 AM Pakistan Standard Time (PST).

    The US Dollar /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to US Dollar on August 17, 2022

    ————————————————-

    Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. The given rates are opening for the day. 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.

  • Porsche launches new Porsche 911 GT3 RS

    Porsche launches new Porsche 911 GT3 RS

    GERMANY: Porsche on Thursday revealed its all new Porsche 911 GT3 RS which is designed for maximum performance.

    The road-legal high-performance sports car takes full advantage of technology and concepts from motorsport (911 GT3 RS: Fuel consumption combined (WLTP) 13.4 l/100 km, CO₂ emissions combined (WLTP) 305 g/km, Fuel consumption combined (NEDC) 12.7 l/100 km, CO₂ emissions combined (NEDC) 289 g/km). Even beyond the high-revving naturally aspirated engine with racing DNA and intelligent lightweight construction, it is, above all, the cooling and aerodynamic systems of the 911 GT3 RS that connect it most directly with its motorsport brother, the 911 GT3 R.

    Central-radiator concept inspired by motorsport – the foundation for active aerodynamics

    The basis for a significant performance boost is the concept of a central radiator – an idea that was first used in the Le Mans class-winning 911 RSR and subsequently in the 911 GT3 R. Instead of the three-radiator layout seen in previous cars, the new 911 GT3 RS relies on a large, angled centre radiator in the car’s nose, positioned where the luggage compartment is located on other 911 models. This has made it possible to use the space freed up on the sides to integrate active aerodynamic elements.

    Continuously adjustable wing elements in the front and on the two-part rear wing, in combination with a number of other aerodynamic measures, provide 409 kg of total downforce at 200 km/h. This means that the new 911 GT3 RS generates twice as much downforce as its 991.2-generation predecessor and three times as much as a current 911 GT3. At 285 km/h, total downforce is 860 kg.

    A drag reduction system (DRS) is fitted in a production Porsche for the first time. To achieve low drag and higher speeds on straight sections of the track, the DRS allows the wings to be flattened out at the push of a button, within a specific operating range. The airbrake function is activated during emergency braking at high speeds: the wing elements at the front and rear are set to maximum, creating an aerodynamic deceleration effect that significantly supports the wheel brakes.

    The look of the new 911 GT3 RS is characterised by the large number of functional aerodynamic elements. The most prominent feature of the GT sports car is the swan-neck-supported rear wing, which is significantly larger in all dimensions. The rear wing consists of a fixed main wing and an upper, hydraulically adjustable wing element.

    For the first time on a Porsche production vehicle, the upper edge of the rear wing is higher than the car’s roof. In addition, the front end of the 911 GT3 RS no longer has a front spoiler, but instead features a front splitter that divides the air flowing over and underneath. Sideblades accurately direct air outwards. Front wheel arch ventilation is provided via louvred openings in the front wings.

    Inlets behind the front wheels, in the style of the iconic Le Mans-winning 911 GT1, reduce the dynamic pressure in the wheel arches. Sideblades behind the intake ensure that the air is directed to the side of the vehicle. Air from the centrally positioned radiator flows out via large nostrils on the front lid. Fins on the roof direct the air outwards, ensuring cooler intake temperatures in the rear.

    In the new 911 GT3 RS, the openings in the rear side panel are used exclusively to improve aerodynamics and not to draw in process air. The rear wheel arch also features an intake and a sideblade for optimised airflow. The rear diffuser comes from the 911 GT3 and has been slightly adapted.

    Track suspension that can be adjusted from the cockpit

    Even the suspension comes in for aerodynamic attention. Because the wheel arches of the new 911 GT3 RS are subject to powerful airflows, the components of the double-wishbone front axle are designed with teardrop-shaped profiles. These aerodynamically efficient links increase downforce on the front axle by around 40 kg at top speed and are otherwise only used in high-end motorsport applications. Because of the wider track (29 millimetres wider than the 911 GT3), the double-wishbone front axle links are also correspondingly longer. 

    To ensure that the downforce balance between the front and rear axles is maintained even when braking from high speeds, the suspension engineers have significantly reduced pitching under braking. On the new 911 GT3 RS, the front ball joint of the lower trailing arm has been set lower on the front axle. The multi-link rear axle has also been adjusted, with modified spring rates. The driver assistance systems and rear-axle steering also have an even more dynamic set-up here.

    The 911 GT3 RS offers three driving modes: Normal, Sport and Track. In Track mode, the basic settings can be individually adjusted. Among other settings, the rebound and compression damping of the front and rear axles can be adjusted separately and in several stages. The rear differential can also be adjusted via rotary controls on the steering wheel. This is done quickly and intuitively with an operating and display concept also borrowed from motorsport.

    Four individual rotary controls and a button for the Drag Reduction System (DRS) are located on the steering wheel. These rotary controls are clearly displayed via graphics in the instrument cluster during the adjustment process. The 911 GT3 RS also features the track screen already familiar from the 911 GT3. At the touch of a button, the driver can reduce the digital displays on the two seven-inch side displays to essential information only. The gearshift indicators to the left and right of the analogue tachometer have also been taken from the GT3.

    High-revving four liter six-cylinder boxer engine

    The 4.0-litre high-revving naturally aspirated engine has been further optimised compared with the 911 GT3. The increase in power to 386 kW (525 PS) is achieved primarily via new camshafts with modified cam profiles. The single-throttle intake system and the rigid valve drive are derived from motorsport. The seven-speed Porsche Doppelkupplung (PDK) has a shorter overall gear ratio than the 911 GT3. Air intakes on the underbody ensure that the transmission can withstand even extreme loads during frequent use on track. The 911 GT3 RS accelerates from zero to 100 km/h in 3.2 seconds and reaches a top speed of 296 km/h in seventh gear. 

    Aluminium monobloc fixed-calliper brakes with six pistons each and brake discs with a diameter of 408 mm are used on the front axle. Compared with the 911 GT3, the piston diameters have been increased from 30 to 32 mm. In addition, the thickness of the discs has been increased from 34 to 36 mm. The rear axle continues to be fitted with 380-mm brake discs and four-piston fixed-calliper brakes.

    The optionally available Porsche Ceramic Composite Brake (PCCB) has 410-mm discs on the front axle and 390-mm discs on the rear axle. The new 911 GT3 RS comes standard with forged light-alloy centre-lock wheels. Road-legal sports tyres measuring 275/35 R 20 at the front and 335/30 R21 at the rear ensure a high level of mechanical grip. 

    Lightweight construction all the way

    Intelligent lightweight construction has been a basic principle of all RS models ever since the legendary 911 Carrera RS 2.7. Thanks to an array of lightweight construction measures such as the extensive use of CFRP, the 911 GT3 RS weighs in at only 1,450 kg (kerb weight according to DIN) despite many larger components. The doors, front wings, roof and front lid, for example, are made from CFRP. Lightweight CFRP is also used in the interior, for example in the standard full bucket seats.

    Available with Clubsport and Weissach packages

    When it comes to its interior, the new GT sports car is finished in typical RS style: black leather, Racetex and carbon-weave finish characterise the purist, sporting ambience. The 911 GT3 RS is available with the Clubsport package at no extra cost. This includes a steel rollover bar, a hand-held fire extinguisher and six-point seat belts for the driver. 

    The Weissach package, which is available at extra cost, involves considerably more. The front lid, roof, parts of the rear wing and the upper shell of the exterior mirrors feature a carbon-weave finish. The front and rear anti-roll bars, the rear coupling rods and the shear panel on the rear axle are made of CFRP and contribute to a further enhancement of the driving dynamics. The rollover bar, constructed for the first time from CFRP, saves around six kilograms compared with the steel version.

    Another highlight of the Weissach package is the PDK shift paddles with motorsport-derived magnet technology. This makes gear changes even more dynamic thanks to a more precise pressure point and a clearly perceptible click. Optionally available with the Weissach package are magnesium forged wheels, which save another eight kilograms.

    Exclusive Porsche Design Chronograph

    Inspired by the motorsport mindset – where maximum precision is paramount – Porsche’s own watchmaking operation in Solothurn, Switzerland, has developed the 911 GT3 RS chronograph. This mechanical watch is reserved for owners of the car. It is based on a glass-bead blasted case, made from either natural or black titanium, and with a screw-down crown. Inside the watch is the mechanical Porsche Design chronograph calibre WERK 01.200, which has been COSC-certified for its high accuracy.

    Its flyback function allows the wearer to start, stop and reset the second hand with a single action. The chronograph pushers, which feature ‘Start/Stop’ and ‘Next Lap’ laser engravings, reveal that this chronograph is not just about telling the time. In addition to innovations, such as the pulsometer scale on the bezel, many design features and materials from the GT3 RS are also found.

    The new 911 GT3 RS is available for order now and starts at €229,517 in Germany.

  • Pakistan stocks gain 240 points amid profit taking

    Pakistan stocks gain 240 points amid profit taking

    KARACHI: Pakistan stocks gained 240 points on Wednesday despite profit taking observed during the day.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended 43,676 points from previous day’s closing of 43,436 points, showing a gain of 240 points.

    READ MORE: Stocks shed 185 points amid profit taking

    Analysts at Arif Habib Limited said that the stock marked observed a positive session during the day.

    The KSE-100 index opened in the green zone but investors opted for profit taking in the1st trading hour.

    Banking sector remained in the limelight due to major result announcements.

    READ MORE: Pakistan stocks gain 764 points on Saudi help reports

    Value buying was observed in the last trading hour which led the index to close in the green zone.

    Sectors contributing to the performance include Technology (+116.2 points), Cement (+97.2 points), Power (+38.1 points), Engineering (+16.1 points) and Fertilizer (+13.6 points).

    READ MORE: Weekly Review: stock market likely to move in positive zone

    Volumes increased from 518.0 million shares to 608.0 million shares (+17.4 per cent DoD). Average traded value decreased by 31.4 per cent to reach US$ 51.8 million as against US$ 75.8 million.

    Stocks that contributed significantly to the volume are KEL, WTL, HASCOL, PIA and FLYNG.

    READ MORE: Weekly Review: market likely to continue positive sentiments

  • Shell Pakistan stops aviation operations across country

    Shell Pakistan stops aviation operations across country

    KARACHI: Shell Pakistan Limited on Wednesday announced to discontinue its aviation operations across the country.

    In a communication submitted to Pakistan Stock Exchange (PSX), the company said that a meeting of board of directors held on August 17, 2022, had taken the decision to discontinue Shell Pakistan Limited (SPL) aviation operations across Pakistan.

    Presently, SPL carries out its aviation related operations on the following locations: (i) Jinnah International Airport (JIAP) (ii) Quetta International Airport (QIAP) (iii) Begum Nusrat Bhutto Airport (BNB) (Sukkur) and (iv) Nawabshah Airport (WNS).

    Following the expiry of the leases related to the above airports, the Pakistan Civil Aviation (CAA) has floated a joint-tender inviting participants to bid for the operations of six airports; including all four of the airports currently operated by SPL (listed hereinabove) as well as Skardu International Airport (KDU) and Gwadar International Airport (GDU).

    The company said that after due consideration of a wide range of factors, including legal compliance, financial and commercial consideration, SPL had taken the decision not to participate in the tender.

    SPL is committed to the safe handover of operations to the CAA and/or relevant stakeholder (as appropriate) at the airports at which it is currently operating. The final date of exit from these airports will be communicated after consultation with the CAA.

    “SPL remains committed to continuing its other businesses and operations in Pakistan, which remain unaffected,” the company added.

  • Businessmen express shock over petroleum price hike in Pakistan

    Businessmen express shock over petroleum price hike in Pakistan

    KARACHI: Businessmen have expresses shock over hike in petroleum prices in Pakistan despite massive reduction in oil prices in international market. 

    The businessmen are in shock and expressed their serious concern over the hike in petroleum products in Pakistan despite the fact that crude oil prices have plunged to below $90 a barrel while the rupee has jumped by around Rs30 versus dollar during the last fortnight, said a statement issued on Wednesday.

    READ MORE: Miftah defends petrol price hike in Pakistan from August 16, 2022

    The chairman of Businessmen Panel (BMP) and former president of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) Mian Anjum Nisar reiterated his demand of passing on relief of cut in oil prices in the global market to the industry, besides bringing key policy rate to a regionally competitive level.

    On Monday night, the federal government announced a hike of Rs6.72 per litre in the price of petrol for the remaining days of August 2022, according to a notification issued by the Ministry of Finance.

    He voiced his concern over the increase in fuel prices despite downward trend in international market. The present government came into power to give relief to the masses, which should be its top priority, as the hike in petroleum prices will trigger inflation in the country.

    READ MORE: New petroleum prices in Pakistan from August 16, 2022

    He said that it was beyond comprehension that why prices were raised despite a reduction in oil prices at the international level, adding that the government should have mercy on poor masses and give them some relief.

    Mian Anjum said when Russia invaded Ukraine last spring, energy experts were predicting that oil prices could reach $200 a barrel, a price that would send the costs of shipping and transportation into the stratosphere and bring the global economy to its knees.

    Now oil prices are lower than they were when the war began, having dropped more than 30 percent in barely two months. The news of a slowing Chinese economy and a cut in Chinese interest rates sent prices down further, to less than $90 a barrel for the American benchmark.

    Gasoline prices have fallen every day over the last nine weeks, to an average of less than $4 nationwide, and prices of jet fuel and diesel are easing as well. That should translate eventually to lower prices for things so that cost of production could come down to a regionally competitive level.

    READ MORE: New petroleum prices in Pakistan from August 1, 2022

    Moreover, a large number of fuel stations remained closed nationwide despite no strike or shortage of petroleum products in the country. He said that oil marketing companies (OMCs) and petroleum dealers have allegedly created an artificial fuel crisis as the coalition government increased petrol prices by Rs6.72 per litre.

    Recent practices suggest they usually stop supplies of petrol and diesel to end-consumers for a couple of hours to make additional profit. However, this time around the suspension lasted for almost an entire day. Many petrol pumps had gone dry by Monday evening and new supplies came on Tuesday afternoon.

    Federation of Pakistan Chambers of Commerce and Industry (FPCCI) former president demanded the government to reduce petroleum prices without any delay.

    He demanded that the government should slash the prices of the petroleum products immediately as the international oil prices have substantively come down; and, the benefit needs to be shifted to the masses.

    He noted with a sigh of relief that oil prices are now under $90 per barrel. The move will bring down the inflation in a much more effective and tangible manner than raising the interest rate to a 14-year high of 15 percent, he added.

    Mian Anjum emphasized that the full force of the multiplier effect of the raise of the petroleum products has not yet materialized in Pakistan and inflation will keep rising in coming weeks if the relief from international market is not shifted to the end consumer.

    READ MORE: New petroleum prices in Pakistan from July 15, 2022

    FPCCI former chief explained that global macroeconomic sentiments are not optimistic and growth forecasts have been significantly lowered to the tune of being recessionary; and, the phenomenon may drive the international oil prices even lower than $90 per barrel in coming weeks. However, he maintained, we have to tread a cautious path and gradually but progressively lower the domestic petroleum prices.

    The BMP Chairman called for the prudent and diligent regulation of the markets to allow the country to benefit from the downward trends in international oil prices, edible oils and initial signs of receding supply constraints in some other commodities.

    He said that our industry already facing cut-throat competition in both national and international markets, as the industry was directly hit by the fluctuation of oil prices, which also directly increase inflation, he said. Its negative impact can be witnessed in the hike of cargo freight charges, which adds cost to the industrial production at all stages, he said.

  • Engro Corp declares increase in half year profit to Rs16.6 billion

    Engro Corp declares increase in half year profit to Rs16.6 billion

    KARACHI: Engro Corporation on Wednesday massive increase in profit to Rs16.6 billion for the half year ended June 30, 2022.

    Pakistan’s premier conglomerate, Engro Corporation (PSX: ENGRO) announced its financial results for the first half of the year ending June 30, 2022.

    READ MORE: Allied Bank’s tax payment grows 121% in 1HCY22

    Engro Corporation’s standalone revenue increased from Rs8.6 billion in the first half year of 2021 to Rs16.6 billion in the first half of 2022, exhibiting a substantial growth of 92 per cent.

    Higher revenue was primarily due to higher dividends received from Engro Polymer and Chemicals Limited (EPCL) and Engro Fertilizers Limited (EFERT) which, in turn, were driven by strong underlying business performance.

    READ MORE: MCB Bank registers 71% decline in profit for 2QCY22

    Resultantly, the Company achieved a 29 per cent higher profit after tax of Rs12.5 billion in the first half of 2022 against Rs9.7 billion in the same half of 2021, translating into an Earnings per share (EPS) of Rs21.66 per share (2021: Rs16.81 per share).

    On a consolidated basis, Engro Corporation’s revenue grew by 27 per cent to Rs177.5 billion in 1H 2022 from Rs139.3 billion in 1H 2021.

    READ MORE: Attock Petroleum declares massive 277% growth in annual profit

    The company posted a profit after tax of Rs16.8 billion in 1H 2022, which is 42 per cent lower than Rs29.1 billion in 1H 2021. The profit after tax attributable to the shareholders is Rs7.4 billion, translating into an EPS of PKR 12.87 per share (1H 2021: Rs29.60 per share). Despite organic revenue growth, imposition of super tax on current and prior year earnings weighed on the conglomerate’s consolidated profitability. 

    Engro Corporation announced an interim cash dividend of Rs 11/- per share for the year. This is in addition to the Rs12/- per share dividend that has already been announced during the year, bringing the cumulative payout to Rs23/- per share.

    READ MORE: Meezan Bank posts 36% growth in half year profit

  • Foreign currency rates in PKR – August 17, 2022

    Foreign currency rates in PKR – August 17, 2022

    KARACHI: Following are the open market exchange rates of foreign currencies in Pak Rupee (PKR) in Pakistan on August 17, 2022 (The rates are updated at 04:00 AM (Pakistan Standard Time):

    CURRENCY NAMEBUYINGSELLING
       
    US DOLLAR $ (USD)210.00212.00
    SAUDI RIYAL (SAR)55.2057.00
    UAE DIRHAM (AED)57.4058.20
    EURO (EUR)213.00215.50
    UK POUND (GBP)253.00256.00
    JAPANESE YEN (JPY)1.541.56
    SWISS FRANC (CHF)218.42219.42
    DANISH KRONE (DKK)28.1728.27
    NORWEGIAN KRONE (NOK)21.2821.38
    SWEDISH KRONA (SEK)19.9420.04
    AUSTRALIAN DOLLAR (AUD)146.50148.50
    CANADIAN DOLLAR (CAD)162.50164.50
    INDIAN RUPEE (INR)2.352.65
    CHINESE YUAN (CNY)31.5033.00
    AFGHAN AFGHANI (AFN)1.601.90

    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.

    Foreign currency rates in Pak Rupee – August 16, 2022

  • Pakistani Rupee to US Dollar on August 17, 2022

    Pakistani Rupee to US Dollar on August 17, 2022

    KARACHI: Following are the rates of buying and selling of one US dollar (USD) in Pakistani Rupee (PKR) in the open market on August 17, 2022:

    Buying: Rs 210.00 to the US Dollar

    Selling: Rs 212.00 to the US Dollar

    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 the foreign currency from a customer.

    The rate has been updated at 04:00 AM Pakistan Standard Time (PST).

    The US Dollar /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to US Dollar on August 16, 2022

    ————————————————-

    Pakistani Rupee to Saudi Riyal on August 17, 2022

    KARACHI: Following are the rates of buying and selling of one Saudi Riyal (SAR) in Pakistani Rupee (PKR) in the open market on August 17, 2022:

    Buying: Rs 56.20 to the Saudi Riyal

    Selling: Rs 57.60 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 04:00 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 on August 16, 2022

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    Pakistani Rupee to Euro on August 17, 2022

    KARACHI: Following are the rates of buying and selling of one Euro (EUR) in Pakistani Rupee (PKR) in the open market on August 17, 2022:

    Buying: Rs 213.00 to the Euro

    Selling: Rs 215.50 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 company or a bank sells for foreign currency from a customer.

    The rate has been updated at 04:00 AM Pakistan Standard Time (PST).

    The Euro /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to Euro on August 16, 2022

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    Pakistani Rupee to UK Pound Sterling on August 17, 2022

    KARACHI: Following are the rates of buying and selling of one UK Pound Sterling (GBP) in Pakistani Rupee (PKR) in the open market on August 17, 2022:

    Buying: Rs 253.00 to the UK Pound Sterling

    Selling: Rs 256.00 to the UK Pound Sterling

    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 the foreign currency from a customer.

    The rate has been updated at 04:00 AM Pakistan Standard Time (PST).

    The UK Pound Sterling /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to UK Pound Sterling on August 16, 2022

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    Pakistani Rupee to UAE Dirham on August 17, 2022

    KARACHI: Following are the rates of buying and selling of one UAE Dirham (AED) in Pakistani Rupee (PKR) in the open market on August 17, 2022:

    Buying: Rs 57.40 to the UAE Dirham

    Selling: Rs 58.20 to the UAE Dirham

    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 the foreign currency from a customer.

    The rate has been updated at 04:00 AM Pakistan Standard Time (PST).

    The UAE Dirham /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to UAE Dirham on August 16, 2022

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    Pakistani Rupee to Canadian Dollar on August 17, 2022

    KARACHI: Following are the rates of buying and selling of one Canadian Dollar (CAD) in Pakistani Rupee (PKR) in the open market on August 17, 2022:

    Buying: Rs 162.50 to the Canadian Dollar

    Selling: Rs 164.50 to the Canadian Dollar

    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 04:00 AM Pakistan Standard Time (PST).

    The Canadian Dollar /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to Canadian Dollar on August 16, 2022

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    Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. The given rates are opening for the day. 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.

  • Pakistani Rupee to Canadian Dollar on August 17, 2022

    Pakistani Rupee to Canadian Dollar on August 17, 2022

    KARACHI: Following are the rates of buying and selling of one Canadian Dollar (CAD) in Pakistani Rupee (PKR) in the open market on August 17, 2022:

    Buying: Rs 162.50 to the Canadian Dollar

    Selling: Rs 164.50 to the Canadian Dollar

    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 04:00 AM Pakistan Standard Time (PST).

    The Canadian Dollar /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to Canadian Dollar on August 16, 2022

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    Pakistani Rupee to US Dollar on August 17, 2022

    KARACHI: Following are the rates of buying and selling of one US dollar (USD) in Pakistani Rupee (PKR) in the open market on August 17, 2022:

    Buying: Rs 210.00 to the US Dollar

    Selling: Rs 212.00 to the US Dollar

    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 the foreign currency from a customer.

    The rate has been updated at 04:00 AM Pakistan Standard Time (PST).

    The US Dollar /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to US Dollar on August 16, 2022

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    Pakistani Rupee to Saudi Riyal on August 17, 2022

    KARACHI: Following are the rates of buying and selling of one Saudi Riyal (SAR) in Pakistani Rupee (PKR) in the open market on August 17, 2022:

    Buying: Rs 56.20 to the Saudi Riyal

    Selling: Rs 57.60 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 04:00 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 on August 16, 2022

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    Pakistani Rupee to Euro on August 17, 2022

    KARACHI: Following are the rates of buying and selling of one Euro (EUR) in Pakistani Rupee (PKR) in the open market on August 17, 2022:

    Buying: Rs 213.00 to the Euro

    Selling: Rs 215.50 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 company or a bank sells for foreign currency from a customer.

    The rate has been updated at 04:00 AM Pakistan Standard Time (PST).

    The Euro /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to Euro on August 16, 2022

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    Pakistani Rupee to UK Pound Sterling on August 17, 2022

    KARACHI: Following are the rates of buying and selling of one UK Pound Sterling (GBP) in Pakistani Rupee (PKR) in the open market on August 17, 2022:

    Buying: Rs 253.00 to the UK Pound Sterling

    Selling: Rs 256.00 to the UK Pound Sterling

    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 the foreign currency from a customer.

    The rate has been updated at 04:00 AM Pakistan Standard Time (PST).

    The UK Pound Sterling /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to UK Pound Sterling on August 16, 2022

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    Pakistani Rupee to UAE Dirham on August 17, 2022

    KARACHI: Following are the rates of buying and selling of one UAE Dirham (AED) in Pakistani Rupee (PKR) in the open market on August 17, 2022:

    Buying: Rs 57.40 to the UAE Dirham

    Selling: Rs 58.20 to the UAE Dirham

    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 the foreign currency from a customer.

    The rate has been updated at 04:00 AM Pakistan Standard Time (PST).

    The UAE Dirham /PKR parity depends on open market rates, they are set by the market forces based on foreign currency demand.

    Pakistani Rupee to UAE Dirham on August 16, 2022

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    Disclaimer: Team PKRevenue.com provides the available rates of the open market, which are subject to change every hour. The given rates are opening for the day. 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.