Pkrevenue.com

Author: Hamza Shahnawaz

  • Pakistani Rupee to UK Pound Sterling on May 13, 2022

    Pakistani Rupee to UK Pound Sterling on May 13, 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 13, 2022:

    Buying: Rs 232.00 to the UK Pound Sterling

    Selling: Rs 235.00 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 09:01 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 12, 2022
  • Pakistani Rupee to Euro on May 13, 2022

    Pakistani Rupee to Euro on May 13, 2022

    KARACHI: Following are the rates of buying and selling of one Euro (EUR) in Pakistani Rupee (PKR) in the open market on May 13, 2022:

    Buying: Rs 198.00 to the Euro

    Selling: Rs 200.00 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 08:57 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 12, 2022
  • Pakistani Rupee to Saudi Riyal on May 13, 2022

    Pakistani Rupee to Saudi Riyal on May 13, 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 13, 2022:

    Buying: Rs 49.50 to the Saudi Riyal

    Selling: Rs 50.10 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 08:54 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.

    Pakistani Rupee to Saudi Riyal on May 12, 2022
  • Car sales register 50% growth in 10MFY22

    Car sales register 50% growth in 10MFY22

    KARACHI: The sales of domestic manufactured cars have registered a growth of 50 per cent during first ten months (July – April) 2021/2022.

    However, auto sales plummeted by 18 per cent Month on Month (MoM) to 22,370 units during April 2022 on the following grounds; increased car prices; and increased cost of financing, analysts at Arif Habib Limited said.

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

    Albeit, the momentum remained positive on a Year on Year (YoY) basis, up 30 per cent mainly on the back of resumption of pre Covid level economic activities along with launch of new models (Swift, Civic, City), consumer’s anticipation of further price hike, given the company’s kept on hinting massive surge in cost of production and substantial Pak Rupee (PKR) depreciation which has put margins under pressure. This took sales during first ten months of current fiscal year to 227,981 units, up 50 per cent YoY.

    Engine capacity 1300cc segment and above remained the star performer, up 34 per cent YoY, given resumed sales of new Honda Civic Xi and Swift 4th generation.

    READ MORE: Pakistan considers fixing locally assembled car prices

    During April 2022, sales in 1000cc segment went up by 29 per cent YoY. Major contributors to it remained Cultus (+33 per cent YoY) followed by Wagon R (+26 per cent YoY).

    Sales in below 1000cc segment maintained it’s positive momentum during the month (+22 per cent YoY) because of higher prices of imported small cars, and given this segment is being subjected to relatively lower sales tax (12.5 per cent) and also due to the ability of lower to middle income group to obtain full financing against it.

    READ MORE: OICCI suggests duty cut on locally manufactured cars

    During April 2022, sales of Indus Motors went up by 8 per cent YoY to 5,775 units. Albeit 18 per cent MoM decline was observed given lower sales of Corolla/Yaris (-24 per cent YoY).

    The sales of Pak Suzuki during April 2022 grew by 47 per cent YoY to 12,639 units on the back of resumed sales of new Suzuki Swift 4th generation. Albeit, sales plunged by 16 per cent MoM on the back of increased car prices and consumer’s anticipation of further price hike which caused them to book cars as soon as possible.

    READ MORE: Return filing be made mandatory for account holders

    Honda Cars sold 2,629 units during April 2022; up by 15 per cent YoY amid launch of new models of Civic and City. Albeit sales declined by 28 per cent MoM amid increased prices.

    The sales of tractors stood at 4,848 units during April 2022, (+8 per cent YoY). However, sales went down by 14 per cent on a MoM basis. AGTL posted relatively higher market share (54 per cent) as compared to MTL.

  • Foreign currency rates in Pak Rupee – May 12, 2022

    Foreign currency rates in Pak Rupee – May 12, 2022

    KARACHI: Following are the open market exchange rates of foreign currencies in Pak Rupee (PKR) in Pakistan on May 12, 2022 (The rates are updated at 10:00 AM (Pakistan Standard Time):

    CurrencyBuyingSelling
    Australian Dollar (AUD)133.00135.00
     Bahrain Dinar (BHD)386.50388.50
     Canadian Dollar (CAD)143.50145.00
     China Yuan (CNY)23.5523.95
     Danish Krone (DNK)23.6523.95
     Euro (EUR)198.00200.00
     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)49.5050.10
     Singapore Dollar (SGD)133.50135.50
     Swedish Korona (SEK)18.7519.00
     Swiss Franc (CHF)160.35161.25
     Thai Bhat (THB)4.804.90
     U.A.E Dirham (AED)50.5051.00
     UK Pound Sterling (GBP)236.00239.00
     US Dollar (USD)189.00191.50

    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.

    Foreign currency rates in Pak Rupee – May 11, 2022
  • KATI expresses concerns over massive rupee fall

    KATI expresses concerns over massive rupee fall

    KARACHI: Korangi Association of Trade and Industry (KATI) on Wednesday expressed serious concerns over massive fall in rupee value and depleting foreign exchange reserves.

    In a statement KATI President Salman Aslam said the dollar value had gone above Rs190, a decline that started before Eid has increased economic hardship.

    READ MORE: KATI demands ban on unnecessary imports

    The government is facing hardship at two fronts, first, the dollar value increase, and second reduced foreign exchange reserves are alarming.

    Aslam said that the amount the official foreign exchange reserves of the State Bank of Pakistan (SBP) fell to $10 billion, which also included an amount of $3 billion of Saudi Arabia. He said that government cannot spend the deposited aid to Saudi Arabia, and payment of three months import bill seems difficult.

    READ MORE: KATI terms sudden policy rate hike as economic disaster

    KATI President further added that government has to manage any further bailout package from friendly countries on an emergency basis. “Even receiving IMF tranche of $1 billion is still insufficient to reduce the difficulties.”

    At the moment the country needs a large bailout package, which immediately released the pressure on reserves and the Pak Rupee.

    READ MORE: PKR becomes worst currency in region: KATI

    Salman Aslam said that negotiations with the IMF must be finalized and efforts to get more cooperation from countries close friends of Pakistan.

    He further said that all the resources of the government to avoid bankruptcy will be utilized, to support the economy.

    READ MORE: KATI expresses concerns over rising inflation

  • FPCCI demands CNIC condition withdrawal

    FPCCI demands CNIC condition withdrawal

    KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Wednesday demanded the authorities to withdraw CNIC condition on transactions.

    FPCCI president Irfan Iqbal Sheikh categorically demanded that CNIC Condition needs to be withdrawn in the upcoming Federal Budget 2022 – 23 and the Finance Act 2022 for being counterproductive as it has failed to generate more taxes.

    READ MORE: FBR urged to wave further tax on providing CNIC number

    The CNIC condition has given a rise to the use of flying invoices and fake documentation.

    Nowhere in the world a buyer is asked to submit their NIC while making a purchase and the conditionality defies every administrative, regulatory, operational, commercial and economic sense, he added.

    Irfan Iqbal Sheikh maintained that introduction of CNIC condition was merely a part of political sloganeering at the cost of economy and now the same vested interests are propagating for its continuation; whereas, they have no understanding of the ground realities of business, industry and trade.

    READ MORE: Tax exemption sought for plant, machinery import

    Irfan Iqbal Sheikh added that FPCCI has also briefed Miftah Ismail, Federal Minister for Finance & Revenue, on the issue and how it is hampering the economic and commercial activities in the country.

    FPCCI Chief explained that this condition negatively affects the production and market sales of the businesses in Pakistan. He recalled that Chairman FBR visiting FPCCI did concede that due to the condition of CNIC there has been a drop in sales tax collection, during his visit in the year 2021.

    READ MORE: Proposed list of higher withholding tax rates for non-filers

    President FPCCI has added that the only workable solution to generate more taxes is to present a business-friendly and pro-growth budget in consultation with the stakeholders, i.e. businessmen, traders and industrialists.

    Irfan Iqbal Sheikh has reiterated, as President of the apex body, his resolve to play his mandated role of creating bridges and promoting cooperation between the business community and the government &its regulators from the platform of FPCCI.

    READ MORE: PSX demands slashing CGT rates on disposal of shares

  • Foreign currency rates in Pak Rupee – May 11, 2022

    Foreign currency rates in Pak Rupee – May 11, 2022

    KARACHI: Following are the open market exchange rates of foreign currencies in Pak Rupee (PKR) in Pakistan on May 11, 2022 (The rates are updated at 12:08 PM (Pakistan Standard Time):

    CurrencyBuyingSelling
    Australian Dollar (AUD)133.00135.00
     Bahrain Dinar (BHD)386.50388.50
     Canadian Dollar (CAD)143.50145.00
     China Yuan (CNY)23.5523.95
     Danish Krone (DNK)23.6523.95
     Euro (EUR)198.00200.00
     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)49.5050.10
     Singapore Dollar (SGD)133.50135.50
     Swedish Korona (SEK)18.7519.00
     Swiss Franc (CHF)160.35161.25
     Thai Bhat (THB)4.804.90
     U.A.E Dirham (AED)50.5051.00
     UK Pound Sterling (GBP)236.00239.00
     US Dollar (USD)189.00191.50

    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.

  • Pakistani Rupee to US Dollar on May 11, 2022

    Pakistani Rupee to US Dollar on May 11, 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 11, 2022:

    Buying: Rs 189.00 to the US Dollar

    Selling: Rs 191.50 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 12:08 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 10, 2022
  • Pakistani Rupee to UAE Dirham on May 11, 2022

    Pakistani Rupee to UAE Dirham on May 11, 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 11, 2022:

    Buying: Rs 50.50 to the UAE Dirham

    Selling: Rs 51.00 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 12:08 PM 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 10, 2022