Pkrevenue.com

Author: Hamza Shahnawaz

  • Lahore Customs to auction vehicles on May 26, 2022

    Lahore Customs to auction vehicles on May 26, 2022

    LAHORE: The Directorate of Intelligence and Investigation (I&I) customs, Lahore announced auction of motor vehicles to be held on May 26, 2022 at State Warehouse, of the directorate, Allama Iqbal Town, Lahore.

    The directorate will present following vehicles for the auction:

    READ MORE: Gwadar Collectorate auctions motor cars on May 23

    01. Toyota Camry Car, Model-2010, Chassis No. MR053FK4000013686, Colour White, ABT-774

    02. Honda Civic Hybrid Car, Model 2007, Chassis No. JHMFD36207S211415 Colour: Silver

    03. Audi A8 Car, Chassis No. WAUZZZ4E29N013000, Colour- Black, Model-2009, Registration No. ART-956/Sindh

    04. Toyota Mark-X Car, Chassis No. GRX121-1000149, Model-2004, Colour: Silver PD-257 /ICT

    READ MORE: Multan customs auctions smuggled diesel oil on May 18, 2022

    05. Mercedes Benz Car, Model 2006, Chassis No. WDB2110652A125731, Colour-White, AWV-001

    06. BMW X5 Jeep, Registration Plate No.SS-765 (Islamabad), Chassis No.WBAFE42010LK99381, Model 2009, Colour Black

    07. BMW Car 750LI, Registration Plate No.LEE-13-3450 Chassis No. WBAHN82010DE37384, Model 2005, Colour Silver

    08. Nissan Ceferio Car, Registration Plate No.LEE-07-1, Chassis No.GF50-054361, Model 2003, Colour Black

    READ MORE: Peshawar Customs auctions motor cars on May 16, 2022

    09. Honda Accord Car, Registration Plate No.LWP-91, Chassis No.CL7-3201974, Model 2006, Colour Silver

    10. Honda Accord Car, Registration Plate No.LED-07-3756, Chassis No. CL7-3003318, Model 2002, Colour Silver

    11. Honda Accord Car, Registration No.LRX-8411, Chassis No.CF3- 1200586, Model 2000, Colour Silver

    12. Toyota Hiace Van, Registration No.LES-17-333, Chassis No.TRH200-0083247, Model 2008, Colour Silver

    13. Mercedez Benz Car, Model 2006, Chassis No. WDD2211562A164356, Colour-White, LD-022, Engine Capacity 3500CC

    READ MORE: Pakistan considers fixing locally assembled car prices

    14. Used Toyota Surf, Model-2003, Chassis No. RZN2150002195, ABY-396(Islamabad)

    15. Audi A4 Car, Model-2013, Chasssi No. WAUZZZ8K6DA254235, AFR-022

    16. Honda Insight Hybrid Car, Model 2009, Chassis No. ZE2-1113281, Colour-White, LEA-14-8990

    17. Toyota Aqua Car, Model 2012, Chassis No. NHP10-6086977, Colour: White BFP-930/Sindh

  • Exemption from service on jury under Customs Act

    Exemption from service on jury under Customs Act

    Customs officers are exempted from service on jury or inquest or as assessors under Section 8 of Customs Act, 1969.

    The Federal Board of Revenue (FBR) issued updated Customs Act, 1969 up to June 30, 2021. The act has been updated by making amendments brought through Finance Act, 2021.

    Following is the text of section 8 and 8A of the Customs Act, 1969:

    Section 8. Exemption from service on jury or inquest or as assessors.- Notwithstanding anything contained in any other law, no officer of the Board or Collector of Customs and no other officer of customs whom the Board or Collector of Customs deems it necessary to exempt on grounds of public duty, shall be compelled to serve on any jury or inquest or as an assessor.

    Section 8A deals with uniform of customs officers and officials.

    8A. Uniform.- The Board may, with approval of the Federal Minister-in-charge and by notification in the official Gazette, prescribe rules for wearing of uniform by officers and staff of Customs Service of Pakistan.

    (Disclaimer: The text of above section is only for information. Team PkRevenue.com makes all efforts to provide the correct version of the text. However, the team PkRevenue.com is not responsible for any error or omission.)

    Assistance to the officers of customs
  • Foreign currency rates in Pak Rupee – May 24, 2022

    Foreign currency rates in Pak Rupee – May 24, 2022

    KARACHI: Following are the open market exchange rates of foreign currencies in Pak Rupee (PKR) in Pakistan on May 24, 2022 (The rates are updated at 09:08 AM (Pakistan Standard Time):

    CurrencyBuyingSelling
    Australian Dollar (AUD)138.00140.00
     Bahrain Dinar (BHD)386.50388.50
     Canadian Dollar (CAD)154.00156.00
     China Yuan (CNY)23.5523.95
     Danish Krone (DNK)23.6523.95
     Euro (EUR)205.50207.00
     Hong Kong Dollar (HKD)16.6016.85
     Indian Rupee (INR)2.032.10
     Japanese Yen (JPY)1.411.44
     Kuwaiti Dinar (KWD)481.85484.35
     Malaysian Ringgit (MYR)36.7537.10
     NewZealand $ (NZD)96.8597.55
     Norwegians Krone (NOK)17.5017.75
     Omani Riyal (OMR)392.95394.98
     Qatari Riyal (QAR)39.9040.50
     Saudi Riyal (SAR)52.5053.50
     Singapore Dollar (SGD)136.00138.00
     Swedish Korona (SEK)18.8019.05
     Swiss Franc (CHF)160.35161.25
     Thai Bhat (THB)4.804.90
     U.A.E Dirham (AED)55.0056.00
     UK Pound Sterling (GBP)247.00249.50
     US Dollar (USD)200.75202.25

    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 – May 23, 2022
  • Pakistani Rupee to US Dollar on May 24, 2022

    Pakistani Rupee to US Dollar on May 24, 2022

    KARACHI: Following are the rates of buying and selling of one US dollar (USD) in Pakistani Rupee (PKR) in the open market on May 24, 2022:

    Buying: Rs 200.70 to the US Dollar

    Selling: Rs 202.25 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 09:03 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.

    Pakistani Rupee to US Dollar on May 23, 2022
  • Pakistani Rupee to UAE Dirham on May 24, 2022

    Pakistani Rupee to UAE Dirham on May 24, 2022

    KARACHI: Following are the rates of buying and selling of one UAE Dirham (AED) in Pakistani Rupee (PKR) in the open market on May 24, 2022:

    Buying: Rs 55.00 to the UAE Dirham

    Selling: Rs 56.00 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 08:52 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.

    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.

    Pakistani Rupee to UAE Dirham on May 23, 2022
  • Pakistani Rupee to UK Pound Sterling on May 24, 2022

    Pakistani Rupee to UK Pound Sterling on May 24, 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 May 24, 2022:

    Buying: Rs 247.00 to the UK Pound Sterling

    Selling: Rs 249.50 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 08:55 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.

    Pakistani Rupee to UK Pound Sterling on May 23, 2022
  • Pakistani Rupee to Euro on May 24, 2022

    Pakistani Rupee to Euro on May 24, 2022

    KARACHI: Following are the rates of buying and selling of one Euro (EUR) in Pakistani Rupee (PKR) in the open market on May 24, 2022:

    Buying: Rs 205.50 to the Euro

    Selling: Rs 207.00 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 08:51 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.

    Pakistani Rupee to Euro on May 23, 2022
  • Pakistani Rupee to Saudi Riyal on May 24, 2022

    Pakistani Rupee to Saudi Riyal on May 24, 2022

    KARACHI: Following are the rates of buying and selling of one Saudi Riyal (SAR) in Pakistani Rupee (PKR) in the open market on May 24, 2022:

    Buying: Rs 52.50 to the Saudi Riyal

    Selling: Rs 53.50 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 08:47 M 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.

    Pakistani Rupee to Saudi Riyal on May 23, 2022
  • SBP raises rates of financing schemes by 200 bps

    SBP raises rates of financing schemes by 200 bps

    KARACHI: The State Bank of Pakistan (SBP) on Monday enhanced rates for financing schemes sharply by 200 basis points following massive increase in key policy rate.

    The SBP increased the mark up rate for financing under Export Finance Scheme (EFS) from 5.5 per cent per annum to 7.5 per cent per annum. Similarly, mark up rate for financing under Long Term Financing Facility (LTFF) has been enhanced from 5 per cent to 7 per cent per annum.

    READ MORE: SBP increases interest rate by 150bps to 13.75%

    The increase in interest rates is applicable from May 24, 2022.

    Further, in future, the rates of EFS and LTFF will be linked with SBP Policy Rate through a formula so that any change in Policy Rate is automatically reflected in rates of these refinance schemes, the SBP said.

    While doing so, it will be ensured that rates on these SBP refinance facilities are maintained at such level that they continue to provide sufficient incentive to export sector of Pakistan.

    READ MORE: SBP may increase key policy rate by 100bps: poll

    Earlier, the SBP on Monday increased the key policy rate by 150 basis points to 13.75 per cent from 12.25 per cent.

    While increase the key policy rate, the SBP said since the last Monetary Policy Committee (MPC) meeting, provisional estimates suggest that growth in FY22 has been much stronger than expected.

    READ MORE: SBP may raise policy rate by 100bps to 13.25%

    Meanwhile, external pressures remain elevated and the inflation outlook has deteriorated due to both home-grown and international factors. Domestically, an expansionary fiscal stance this year, exacerbated by the recent energy subsidy package, has fueled demand and lingering policy uncertainty has compounded pressures on the exchange rate.

    Globally, inflation has intensified due to the Russia-Ukraine conflict and renewed supply disruptions caused by the new Covid wave in China. As a result, almost all central banks across the world are suddenly confronting multi-year high inflation and a challenging outlook.

    READ MORE: Policy rate may rise as T-Bill yields increase sharply

  • Pakistan stocks plunge by 660 points on political tensions

    Pakistan stocks plunge by 660 points on political tensions

    KARACHI: Pakistan stocks on Monday plunged by 660 points over rising political tensions in the country, especially after date announcement for a long march.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) fell by 660 points to end at 42,440 points from last Friday’s closing of 43,100 points.

    READ MORE: Weekly Review: IMF outcome to set market direction

    The confidence of investors shattered due further deepen political uncertainties following date announced for the long march by PTI chairman Imran Khan.

    Analysts at Arif Habib Limited said that the market witnessed a bloodbath session as investor remained bearish throughout the day.

    READ MORE: Pakistan stocks gain 117 points in lackluster session

    The bench mark KSE-100 index nosedived from the beginning of the session as increase in the political noise over the weekend and uncertainty regarding resumption of IMF Program along with continued depreciation of Pak Rupee against US Dollar and rumor of rate hike in the monetary policy, shattering investors’ confidence.

    Volumes remained dull in the main board although hefty volumes were observed in 3rd tier stocks.

    READ MORE: Pakistan stocks gain 59 points in range bound trading

    The Index closed at 42,440.25 points, down by 660.46 points (-1.53 per cent DoD). Sectors contributing to the performance include Cement (-120.8 points), Fertilizer (-89.0 points), E&P’s (-79.9 points), Technology (-72.5 points) and Banks (-63.1 points).

    READ MORE: Pakistan stocks fall 819 points on rupee devaluation

    Volumes decreased from 189.9 million shares to 119.0 million shares (-37.4 per cent DoD). Average traded value also decreased by 6.6 per cent to reach US$ 17.8 million as against US$ 19.1 million.

    Stocks that contributed significantly to the volumes are SILK, WTL, KEL, GGL and CNERGY.