Author: Hamza Shahnawaz

  • PYMA fears cancellation of export orders

    PYMA fears cancellation of export orders

    KARACHI: Pakistan Yarn Merchant Association (PYMA) has expressed fear cancellation of export orders due to non-production after suspension of gas to industries.

    Saqib Naseem, Central Chairman PYMA, Junaid Teli, Vice Chairman PYMA, have expressed deep concern over non-supply of gas to industries and appealed to Prime Minister, Imran Khan, Minister Energy, Hammad Azhar and Adviser Trade & Investment, Abdul Razzak Dawood to restore gas supply to Karachi’s industries, so that the industries may be prevent from catastrophe.

    READ MORE: Saqib Naseem elected central chairman PYMA

    In an appeal, PYMA office-bearers said that steps should be taken to get the yarn industry out of crisis otherwise all the industries will be ruined.

    They said: “The suspension of gas supply to export-oriented, general industries, SMEs, has severely affected production activities, which has caused great frustration to exporters and they are worried that if the gas is not restored at full pressure as per the demand of the industries then how will they fulfil the foreign orders in time.”

    READ MORE: PYMA demands cotton import through land routes

    They drew officials that if exporters fail to deliver export shipments as promised, there are fears of massive cancellation of export orders. “As a result, exporters will face huge financial losses as well as a huge negative impact on domestic exports.”

    Saqib Naseem and Junaid Teli appealed to Prime Minister, Imran Khan, Minister Energy, Hammad Azhar and Adviser Trade & Investment, Abdul Razzak Dawood to resolve the gas crisis and a policy should be formulated for taking the industrialists of Karachi out of serious crisis, so that the wheel of industries running smoothly and the country’s economy can be strengthened and the country’s exports can be increased also.

    READ MORE: PYMA demands cut in duty rates on polyester yarn import

    PYMA office-bearers warn the government that if the gas is not restored immediately then industries will be locked up and unemployment will flood. With the sharp decline in our exports, our dependence on imports will increase, which is contrary to the vision of Prime Minister Imran Khan.

    Therefore, to make it easy to run the industries to fulfil the vision of the Prime Minister. In order to create more industries and create more employment opportunities and by promoting exports, the country can move faster on the path of economic development.

    READ MORE: Yarn merchants appeal for not imposing regulatory duty

  • OICCI organizes Women Empowerment Awards

    OICCI organizes Women Empowerment Awards

    KARACHI: The Overseas Investors’ Chamber of Commerce and Industry (OICCI) on Thursday organized Women Empowerment Awards 2021 to recognize the growing importance of women towards creating an enabling environment necessary to accelerate the economic growth in the country.

    OICCI initiated various research and has been holding annual competition among the members by recognizing those who have focused on women empowerment. “Increasing Women’s inclusion in the Pakistan Economy” a policy paper by OICCI has been shared with the Ministry of Human Rights last year.

    READ MORE: Ghais Khan elected OICCI president

    President OICCI Ghias Khan on the occasion said: “OICCI had initiated the OICCI Women Empowerment initiative in 2017 and has been regularly advocating for women empowerment among its membership. The fourth (2021) edition of the awards this year was organized to recognize the progress made by OICCI members in raising the engagement of women within their respective organization and give awards to the outstanding performers.”

    The awards were judged by an independent jury who vetted the performance of the companies from different aspects and awarded the best performers overall and in seven separate categories.

    READ MORE: OICCI expresses dismay over FBR action against mobile operator

    Three companies emerged victorious across all the categories and won top three positions: Procter & Gamble Pakistan and Telenor Pakistan were declared the first and second runner-up respectively while Unilever Pakistan won the top position and declared winner of “OICCI Women Empowerment Award 2021.”

    Special Recognition Awards were given in seven categories. Nestlé Pakistan won in the ‘Leadership & Strategy’ category; Mobilink Microfinance Bank in ‘Gender Balance Workforce’; Standard Chartered Bank in ‘Work Life Integration’; Bank Alfalah in ‘Women Leaders Development’; Pakistan Mobile Communications (Jazz) in “Driving Change Beyond Workspace”; TRG (ibex. Pakistan) in “Notable Growth in Women Empowerment”; and L’Oreal Pakistan bagged the ‘Top Performer amongst companies of 300 employees’ Award.

    READ MORE: OICCI members pay one third of total tax collection

    The ceremony was attended by a large number of CEOs and corporate professionals from different OICCI member companies, as well as diplomats and other distinguished guests.

    The keynote speakers included the Political Counsellor at British High Commission, Iona Thomas; European Union Ambassador to Pakistan, H.E. Androulla Kaminara; and Executive Vice President Unilever, Annemarieke de Haan.

    The speakers termed OICCI the trendsetter for women empowerment in Pakistan and advised that the corporate sector across Pakistan should replicate the ‘OICCI Women’ initiative to foster economic growth of the country.

    Deputy Governor State Bank of Pakistan (SBP), Sima Kamil, during a panel discussion, lauded the efforts of the OICCI and observed that OICCI Women is a great platform to create a movement for women empowerment in the country and appreciated the OICCI initiative to publicly acknowledge the efforts of member companies to give women equal employment opportunity and congenial working environment for the economy to grow.

    READ MORE: Business confidence falls on COVID: OICCI survey

    The speakers also emphasized that empowerment of women and gender equality are essential tools to achieve sustainable development in a global world. Therefore, it is important to bring women into the mainstream in all sectors, to build strong economies and improve the quality of life for women, men, families and communities alike.

    At the conclusion, Secretary OICCI, M. Abdul Aleem, hoped to see OICCI Women initiative become an inspiration for all organizations across the country and joining hands for a greater cause.

  • Today’s currency exchange rates in PKR – Feb 3, 2022

    Today’s currency exchange rates in PKR – Feb 3, 2022

    KARACHI: Following are the open market exchange rates of foreign currencies in Pak Rupee (PKR) in Pakistan on February 3, 2022 (The rates are updated at 11:53 AM (Pakistan Standard Time):

    CurrencyBuyingSelling
    Australian Dollar (AUD)122.00123.50
     Bahrain Dinar (BHD)386.95388.70
     Canadian Dollar (CAD)137.50139.50
     China Yuan (CNY)23.5023.90
     Danish Krone (DNK)23.6023.90
     Euro (EUR)196.50198.50
     Hong Kong Dollar (HKD)16.9517.20
     Indian Rupee (INR)2.032.10
     Japanese Yen (JPY)1.411.44
     Kuwaiti Dinar (KWD)481.85484.35
     Malaysian Ringgit (MYR)36.6537.00
     NewZealand $ (NZD)96.6597.35
     Norwegians Krone (NOK)17.5017.75
     Omani Riyal (OMR)392.85394.88
     Qatari Riyal (QAR)39.9540.55
     Saudi Riyal (SAR)46.8047.30
     Singapore Dollar (SGD)128.70130.00
     Swedish Korona (SEK)18.7018.95
     Swiss Franc (CHF)160.25161.15
     Thai Bhat (THB)4.804.90
     U.A.E Dirham (AED)48.7049.30
     UK Pound Sterling (GBP)236.50239.00
     US Dollar (USD)176.70179.00

    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.

  • Exchange rates: PKR to USD on February 3, 2022

    Exchange rates: PKR to USD on February 3, 2022

    KARACHI: Following are the rates of buying and selling of one US dollar (USD) in Pakistani Rupee (PKR) in the open market on February 3, 2022:

    Buying: Rs 176.70 to the US Dollar

    Selling: Rs 179.00 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 11:47 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.

  • Exchange rates: PKR to AED on February 3, 2022

    Exchange rates: PKR to AED on February 3, 2022

    KARACHI: Following are the rates of buying and selling of one UAE Dirham (AED) in Pakistani Rupee (PKR) in the open market on February 3, 2022:

    Buying: Rs 48.70 to the UAE Dirham

    Selling: Rs 49.30 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 11:45 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.

  • Exchange rates: PKR to GBP on February 3, 2022

    Exchange rates: PKR to GBP on February 3, 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 February 3, 2022:

    Buying: Rs 236.50 to the UK Pound Sterling

    Selling: Rs 239.00 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 11:40 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.

  • Exchange rates: PKR to EUR on February 3, 2022

    Exchange rates: PKR to EUR on February 3, 2022

    KARACHI: Following are the rates of buying and selling of one Euro (EUR) in Pakistani Rupee (PKR) in the open market on February 3, 2022:

    Buying: Rs 196.50 to the Euro

    Selling: Rs 198.50 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 11:37 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.

  • Exchange rates: PKR to SAR on February 3, 2022

    Exchange rates: PKR to SAR on February 3, 2022

    KARACHI: Following are the rates of buying and selling of one Saudi Riyal (SAR) in Pakistani Rupee (PKR) in the open market on February 3, 2022:

    Buying: Rs 46.80 to the Saudi Riyal

    Selling: Rs 47.30 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 11:35 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.

  • Today’s currency exchange rates in PKR – Feb 2, 2022

    Today’s currency exchange rates in PKR – Feb 2, 2022

    KARACHI: Following are the open market exchange rates of foreign currencies in Pak Rupee (PKR) in Pakistan on February 2, 2022 (The rates are updated at 11:23 AM (Pakistan Standard Time):

    CurrencyBuyingSelling
    Australian Dollar (AUD)122.50124.00
     Bahrain Dinar (BHD)386.95388.70
     Canadian Dollar (CAD)138.00140.00
     China Yuan (CNY)23.5023.90
     Danish Krone (DNK)23.6023.90
     Euro (EUR)196.00198.00
     Hong Kong Dollar (HKD)16.9517.20
     Indian Rupee (INR)2.032.10
     Japanese Yen (JPY)1.411.44
     Kuwaiti Dinar (KWD)481.85484.35
     Malaysian Ringgit (MYR)36.6537.00
     NewZealand $ (NZD)96.6597.35
     Norwegians Krone (NOK)17.5017.75
     Omani Riyal (OMR)392.85394.88
     Qatari Riyal (QAR)39.9540.55
     Saudi Riyal (SAR)46.7047.20
     Singapore Dollar (SGD)128.00129.40
     Swedish Korona (SEK)18.7018.95
     Swiss Franc (CHF)160.25161.15
     Thai Bhat (THB)4.804.90
     U.A.E Dirham (AED)48.5049.10
     UK Pound Sterling (GBP)236.00238.40
     US Dollar (USD)176.50177.80

    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.

  • Exchange rates: PKR to USD on February 2, 2022

    Exchange rates: PKR to USD on February 2, 2022

    KARACHI: Following are the rates of buying and selling of one US dollar (USD) in Pakistani Rupee (PKR) in the open market on February 2, 2022:

    Buying: Rs 176.50 to the US Dollar

    Selling: Rs 177.80 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 11:27 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.