Author: Hamza Shahnawaz

  • GIZ Pakistan organizes certificate award ceremony

    GIZ Pakistan organizes certificate award ceremony

    LAHORE: Deutsche Gesellschaft fur Internationale Zusammenarbeit (GIZ) Pakistan has organized certificate award and showcasing programme achievements ceremony under clean power purchasing development project.

    A certificate award ceremony for Master Trainers in Entrepreneurial Skills trained at the Professional Development Center of National University of Science & Technology (NUST) Islamabad under the Clean Power Purchasing Development project. The project is being implemented by Deutsche Gesellschaft fur Internationale Zusammenarbeit (GIZ) as part of the DeveloPPP.de Programme of German Federal Ministry for Economic Cooperation & Development (BMZ).

    Chief Operating Officer TEVTA Punjab, Zaheer Abbas was the chief guest at the occasion who distributed the certificates to the master trainers along with Ms. Iris Cordelia Rotzoll, Head of Programme TVET Sector Support Programme GIZ, Muhammad Ishaq Bhatti, Chairperson Solar Quality Foundation (SQF), Faisal Mahmood, Regional Coordinator (Punjab) and DV Clean Power Purchasing Development Project, and Haseeb Saadat CEO Allied Solar Private Limited & local partner of Power One for One Germany.  Other senior officials and heads of institutes from Punjab TEVTA were also present at the occasion.

    The DV Clean Power Purchasing Development Project, Faisal Mahmood presented the programme achievements over the last three years. The project has trained 37 Master Trainers on technical skills related to design, installation, O&M of solar PV plants, 30 Assessors in CBT&A to support implementation of National Vocational Qualification in Solar PV, and 40 TVET Professionals from TEVTA Punjab and PVTC on Entrepreneurial Skills to promote entrepreneurship in the Solar PV sector. A 10-kW grid-connected pilot solar PV plant was installed with the support of project partner Power One for One at TEVTA Government Technical Training Institute, Gulberg Lahore for education purpose.

    Addressing to the participants, the Head of TVET Sector Support Programme GIZ, Ms. Iris Cordelia Rotzoll, stated that all these efforts not only lead to a new beginning and small steps toward sustainable energy generation and management, but also open avenues to promote the trend of green skills in Pakistan. The master trainers, trainers and assessors trained in Solar PV technology will create a pathway for internal and external buy-in among more and more TVET trainers and managers.

    Speaking at the ceremony Zaheer Abbas appreciated the role of German cooperation for promotion of clean energy in Pakistan through DeveloPPP Programme. He highlighted the fact that promotion of green skills is inevitable to fight the global climate change and save the environment while also conserving the natural resources. He expressed his resolve that master trainers trained under the project will be utilized to support implementation of solar PV training courses in Punjab and increase the quality & access to trained human resource for solar companies.

  • Ufone increases rates amid rising inflation

    Ufone increases rates amid rising inflation

    KARACHI: Ufone, Pakistan’s largest phone service provider, has increased tariff for its various packages.

    In a message sent by the cellular service provider to its customers said: “… to maintain quality of services during ongoing rise in inflation, there will be changes in some of our offers.”

    READ MORE: Ufone 4G ranked top voice and data network

    The rates of following packages have been increased:

    UPower 100, which was of Rs.100 has been increased to Rs.120 with change in resources of addition 1000 SMS in All in One (Option 1) Variant which will be effective from June 28, 2022.

    Super Card Plus, which was of Rs.649 has been increased to Rs.699 which will be effective from June 29, 2022. The resources are same as previous.

    READ MORE: Ufone signs Rs21 billion agreement for 4G spectrum

    Super Card Gold, which was of Rs.999 has been increased to Rs.1099 with change of resources of addition 100 Off-Net minutes and 2GB Main volume and 2 GB Social Volume (1 GB FB and 1 GB WA) which will be effective from June 29, 2022.

    READ MORE: Ufone launches contact center for housing loans

  • Foreign currency rates in Pak Rupee – June 28, 2022

    Foreign currency rates in Pak Rupee – June 28, 2022

    KARACHI: Following are the open market exchange rates of foreign currencies in Pak Rupee (PKR) in Pakistan on June 28, 2022 (The rates are updated at 10:32 AM (Pakistan Standard Time):

    CurrencyBuyingSelling
    Australian Dollar (AUD)144.42145.67
     Bahrain Dinar (BHD)554.06558.56
     Canadian Dollar (CAD)161.58162.93
     China Yuan (CNY)31.1331.38
     Danish Krone (DNK)29.5529.90
     Euro (EUR)214.50217.50
     Hong Kong Dollar (HKD)26.5426.89
     Indian Rupee (INR)2.662.74
     Japanese Yen (JPY)1.471.51
     Kuwaiti Dinar (KWD)677.49682.49
     Malaysian Ringgit (MYR)47.3147.76
     NewZealand $ (NZD)131.76132.96
     Norwegians Krone (NOK)21.1421.44
     Omani Riyal (OMR)541.81546.31
     Qatari Riyal (QAR)57.2357.73
     Saudi Riyal (SAR)54.6055.50
     Singapore Dollar (SGD)149.91151.21
     Swedish Korona (SEK)20.5620.86
     Swiss Franc (CHF)217.17218.92
     Thai Bhat (THB)5.946.04
     U.A.E Dirham (AED)56.5057.40
     UK Pound Sterling (GBP)251.00255.00
     US Dollar (USD)206.00208.50

    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.

    READ MORE: Foreign currency rates in Pak Rupee – June 27, 2022

  • Pakistani Rupee to US Dollar on June 28, 2022

    Pakistani Rupee to US Dollar on June 28, 2022

    KARACHI: Following are the rates of buying and selling of one US dollar (USD) in Pakistani Rupee (PKR) in the open market on June 28, 2022:

    Buying: Rs 206.00 to the US Dollar

    Selling: Rs 208.50 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 10:40 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.

    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.

    READ MORE: Pakistani Rupee to US Dollar on June 27, 2022

  • Pakistani Rupee to UAE Dirham on June 28, 2022

    Pakistani Rupee to UAE Dirham on June 28, 2022

    KARACHI, June 28, 2022 — The exchange rate of the UAE Dirham (AED) against the Pakistani Rupee (PKR) has been updated in the open market, reflecting the latest foreign currency trading trends. As of 10:35 AM Pakistan Standard Time (PST), the following rates have been recorded:

    (more…)
  • Pakistani Rupee to UK Pound Sterling on June 28, 2022

    Pakistani Rupee to UK Pound Sterling on June 28, 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 June 28, 2022:

    Buying: Rs 251.00 to the UK Pound Sterling

    Selling: Rs 255.00 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 10:27 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.

    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.

    READ MORE: Pakistani Rupee to UK Pound Sterling on June 27, 2022

  • Pakistani Rupee to Euro on June 28, 2022

    Pakistani Rupee to Euro on June 28, 2022

    KARACHI: Following are the rates of buying and selling of one Euro (EUR) in Pakistani Rupee (PKR) in the open market on June 28, 2022:

    Buying: Rs 214.50 to the Euro

    Selling: Rs 217.50 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 10:23 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.

    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.

    READ MORE: Pakistani Rupee to Euro on June 27, 2022

  • Pakistani Rupee to Saudi Riyal on June 28, 2022

    Pakistani Rupee to Saudi Riyal on June 28, 2022

    KARACHI: Following are the rates of buying and selling of one Saudi Riyal (SAR) in Pakistani Rupee (PKR) in the open market on June 28, 2022:

    Buying: Rs 54.60 to the Saudi Riyal

    Selling: Rs 55.50 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 10:17 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.

    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.

    READ MORE: Pakistani Rupee to Saudi Riyal on June 27, 2022

  • All tax proposals of IT sector accepted: FBR

    All tax proposals of IT sector accepted: FBR

    ISLAMABAD: The Federal Board of Revenue (FBR) has said all pressing demands of IT sector have been accepted in the budget 2022/2023.

    In a statement issued on Monday, the FBR has taken an exception to a statement issued by Pakistan Software Houses Association (P@SHA) dated June 25, 2022.

    It has reported some facts regarding the exemptions/tax incentives / facilitation given to the IT and IT enabled export services through the Federal Budget 2022, tabled in the National Assembly on June 10, 2022.

    READ MORE: Pakistan’s salaried class unhappy over new tax changes

    Clarifying its position, FBR has stated that in the wake of the Budget, some important meetings were held with the representatives of IT sector through Pakistan Software Export Board (PSEB) and also with Federal Minister for IT, Syed Amin-Ul-Haque, and his team. During these meetings, almost all the key demands of the IT Sector were thoroughly deliberated and largely agreed. 

    FBR has further clarified that the amended Finance Bill will incorporate some tangible measures to facilitate the exporters of IT and IT enabled services. Almost all the pressing demands of the IT Sector have been accepted. The same have been announced in the speech by the Federal Finance Minister on 24th June, 2022 on the floor of the National Assembly. 

    These include the following six key concessions:

    READ MORE: Pakistan reduces salary tax slabs to 7 in budget 2022/23

    i) The sector has been provided a reduced tax rate of 0.25% on their export proceeds which is a quarter of the 1% export tax rate provided to all other exporters of goods. 

    ii) The sector has been removed from tax credit regime to simplify the tax filing system and to remove hassles of compliance that were earlier required to make them eligible for 100% tax credit to claim tax exemption.

    iii) The requirements of filing of Withholding Tax Statements and Sales Tax return have been liberalized for the sector and only those who are required under the law will file WHT Statements or the Sales Tax Returns. For individuals having turnover up to Rs. 100 m per year there is no requirement to file WHT Statement or to deduct tax. 

    READ MORE: Pakistan reduces salary tax slabs to 7 in budget 2022/23

    iv) The definition of IT and IT enabled services as provided under the Income Tax Ordinance, 2001 has been liberalized by expanding its scope by making suitable amendments and all inclusive, and “not limited to” definition has been provided. 

    v) IT and IT enabled services exporters have been provided the facility of obtaining Sales Tax refund in respect of any Sales Tax that has been paid as their input on computers, laptops, stationary other items etc. This facility is not available under the Provincial Sales Tax Law.

    vi) The demand of the IT Sector of reviving tax exemption for Venture Capital Fund has been accepted and a new provision has been created for providing Income Tax Exemption to the Venture Capital Fund for three years. 

    READ MORE: Massive cut in subsidies to curtail current expenditures

    It is pertinent to mention that the above exemptions and tax facilitations to boost exports of IT and IT enabled services were agreed and discussed in the meetings with the Federal Minister for IT, Syed Amin-Ul-Haque, and the representatives of the PSEB. It appears that the above statement given by P@SHA is on account of lack of information about the outcome of the decisions taken by the Honorable Finance Minister in that meeting and announced accordingly.

  • Foreign currency rates in Pak Rupee – June 27, 2022

    Foreign currency rates in Pak Rupee – June 27, 2022

    KARACHI: Following are the open market exchange rates of foreign currencies in Pak Rupee (PKR) in Pakistan on June 27, 2022 (The rates are updated at 10:32 AM (Pakistan Standard Time):

    CurrencyBuyingSelling
    Australian Dollar (AUD)146.14145.39
     Bahrain Dinar (BHD)553.93558.43
     Canadian Dollar (CAD)160.63161.98
     China Yuan (CNY)31.0231.27
     Danish Krone (DNK)29.4029.75
     Euro (EUR)217.50220.50
     Hong Kong Dollar (HKD)26.4426.79
     Indian Rupee (INR)2.652.73
     Japanese Yen (JPY)1.501.54
     Kuwaiti Dinar (KWD)678.54683.78
     Malaysian Ringgit (MYR)47.1447.59
     NewZealand $ (NZD)131.12132.32
     Norwegians Krone (NOK)21.0321.33
     Omani Riyal (OMR)541.73546.23
     Qatari Riyal (QAR)57.0157.15
     Saudi Riyal (SAR)55.0055.90
     Singapore Dollar (SGD)149.67150.97
     Swedish Korona (SEK)20.4820.78
     Swiss Franc (CHF)216.85218.60
     Thai Bhat (THB)5.996.09
     U.A.E Dirham (AED)56.5057.40
     UK Pound Sterling (GBP)254.00257.00
     US Dollar (USD)205.00207.50

    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.

    READ MORE: Foreign currency rates in Pak Rupee – June 26, 2022