Pkrevenue.com

Author: Mrs. Anjum Shahnawaz

  • Alert issued for strong monsoon weather system during current week

    Alert issued for strong monsoon weather system during current week

    ISLAMABAD: Pakistan Meteorological Department (PMD) on Monday issued high alert for all the authorities to remain vigilant as strong monsoon weather system likely to persist during the ongoing week.

    In a statement the MET office said that strong monsoon weather system giving rains in the country is likely to persist during the week.

    Under the influence of this weather system

    Rain-wind-thundershower (with few heavy to very heavy falls) is expected in Kashmir, Islamabad, Rawalpindi, Attock, Chakwal, Jhelum, Gujrat, Mandi Bahauddin, Sialkot, Narowal, Gujranwala, Hafizabad, Lahore, Sheikhupura, Kasur, Okara, Faisalabad, Jhang, Toba Tek Singh, Sargodha, Mianwali, Khushab, Bhakkar and Layyah, Dir, Swat, Buner, Kohistan, Shangla, Mansehra, Abbottabad, Haripur, Mardan, Swabi, Charsadda, Nowshera, Peshawar, Waziristan, Kurrum, Bannu, Kohat, Lakki Marwat, Tank, Karak and Dera Ismail Khan, Gilgit-Baltistan (Ghizer, Astore, Diamer, Skardu, Gilgit, Hunza Nagar, Ghanche and Kharmang) from Monday to Thursday.

    Rain/wind-thundershower (with isolated heavy falls) is expected in Dera Ghazi Khan, Rajanpur, Multan, Khanewal, Sahiwal, Bahawalnagar, Bahawalpur and Rahim Yar Khan, Sibbi, Naseerabad, Jaffarabad, Qila Saifullah, Qila Abdallah, Kohlu, Loralai, Barkhan, Kalat, Khuzdar, Lasbella, Awaran, Kech, Panjgur, Mastung, Quetta, Ziarat, Zhob, Harnai, Sukkar, Jaccobabad, Larkana, Khairpur, Tharparker, Sanghar, Umerkot, Mirpurkhas, Thatta, Badin, Hyderabad, Dadu, Shaheed Benazirabad and Karachi from Monday to Friday.

    Possible Impacts:

    Heavy rain may generate flash flooding in Local/Barsati Nullahs of Sialkot, Narowal, hill torrents of Dera Ghazi Khan, Balochistan, Shangla, Buner, Batgram, Upper Swat, Kohistan and Kashmir from Monday to Wednesday

    Urban flooding in Rawalpindi, Lahore, Gujranwala, Peshawar and Faisalabad, Karachi, Hyderabad, Thatta, Badin during the period.

    Heavy rains may trigger landslides in the vulnerable areas of Kashmir, Gilgit-Baltistan, Upper Khyber Pakhtunkhuwa from Monday to Wednesday

    Possibility of damaging effects due to wind-storm along the western boarder of Khyber Pakhtunkhuwa.

    Water level rise in the major rivers and improvement in water reservoirs.

    “All concerned authorities are advised to remain “ALERT” during the forecast period.”

  • Stocks dip 116 points in narrow range trading

    Stocks dip 116 points in narrow range trading

    KARACHI: The stock market ended down by 116 points on Monday owing to narrow range trading during the day. The benchmark KSE-100 index of the Pakistan Stock Exchange (PSX) closed at 47,447 points as against last Friday’s closing of 47,563 points, showing a decline of 116 points.

    Analysts at Arif Habib Limited said that the market traded in a narrow range and is slowly adjusting downwards after positing some 900 points last week.

    Today’s session saw index moving between -156 points and +152 points, closing the session -116 points. Technology, Steel, Refinery and Cement sectors were particularly under selling pressure.

    Institutional investors have particularly been concerned over developing situation in Afghanistan that can have an implication on otherwise peaceful law and order situation in Pakistan, as well as increasing current account deficit that can result in declining rupee parity with USD. Among scrips, WTL led the table with 70.9 million shares, followed by TREET (63.5 million) and TPL (26.5 million).

    Sectors contributing to the performance include Cement (-38 points), Technology (-23 points), Power (-15 points), Banks (-11 points) and E&P (-10 points).

    Volumes declined from 505.9 million shares to 474.9 million shares (-6 per cent DoD). Average traded value also declined by 6 to reach US$ 90.3 million as against US$ 96.5 million.

    Stocks that contributed significantly to the volumes include WTL, TREET, TPL, GGGL and UNITY, which formed 43 per cent of total volumes.

    Stocks that contributed positively to the index include UNITY (+20 points), PSX (+20 points), MCB (+14 points), PAKT (+13 points) and HBL (+6 points). Stocks that contributed negatively include TRG (-17 points), LUCK (-17 points), BAHL (-16 points), NESTLE (-11 points) and CHCC (-11 points).

  • KIBOR rates on July 12, 2021

    KIBOR rates on July 12, 2021

    KARACHI: State Bank of Pakistan (SBP) on Monday issued following Karachi Interbank Offered Rates (KIBOR) on July 12, 2021.

     TenorBIDOFFER
    1 – Week6.907.40
    2 – Week6.967.46
    1 – Month7.027.52
    3 – Month7.197.44
    6 – Month7.407.65
    9 – Month7.528.02
    1 – Year7.578.07
  • FBR highlights salient features of new export facilitation scheme

    FBR highlights salient features of new export facilitation scheme

    ISLAMABAD: The Federal Board of Revenue (FBR) on Monday highlighted the salient features of the new export facilitation scheme – 2021.

    In this regard the FBR issued draft rules for the new Export Facilitation Scheme 2021 and called for comments from industry, exporters and other stakeholders.

    New Export Facilitation Scheme has been approved by Federal Government and passed by Parliament under Finance Act 2021.

    This Scheme will be implemented from 14th August 2021 and will run parallel with existing schemes like Manufacturing Bond, DTRE and Export Oriented Schemes for two year.

    The existing old schemes shall be phased out in next two years and will be fully replaced by Export Facilitation Scheme-2021. Draft Rules can be accessed at official website of FBR.

    The Salient Features of new EFS-2021 include Minimum documentation and encourages new entrants and SMEs. This Scheme will be completely automated under WeBOC and PSW.

    The focus of the Scheme is on post clearance compliance checks and audits. Users of this Scheme include Exporters (Manufacturers cum Exporters, Commercial Exporters, Indirect Exporters), Common Export Houses, Vendors and International Toll Manufacturers. Users of this Scheme shall be subject to authorization of inputs by the Collector of Customs and Director General Input Output Organization (IOCO).

    Inputs include all goods (imported or procured local) for manufacture of goods to be exported. These include raw materials, spare parts, components, equipment, plant and machinery.

    No duty and taxes shall be levied on inputs imported by the authorized users and local supplies of inputs to the authorized users shall be zero rated. Through this new Scheme concept of Common Export House to import raw material duty and tax free for subsequent sale to the authorized users especially SMEs has been introduced.

    This Scheme also introduces concept of International Toll manufacturing. Under this new Scheme, utilization period has been enhanced from two years to five years depending on the profile/category of exporters.

    It is expected that Export Facilitation Scheme 2021 shall reduce cost of doing business and cost of tax compliance, improve ease of doing business, reduce liquidity problems of exporters by eliminating Sales Tax refunds and Duty Drawback for the users of Scheme and shall attract more users and shall ultimately promote exports.

  • SBP issues exchange rates for July 12, 2021

    SBP issues exchange rates for July 12, 2021

    KARACHI: The State Bank of Pakistan (SBP) on Monday issued customers’ exchange rates on the basis of weighted average rates of commercial banks.


    The SBP said that the data is compiled and disseminated for information only. These Exchange Rates are an estimate of the Exchange Rates quoted by various Commercial Banks to their clients.

    They are compiled from the Exchange Rate sheets issued daily by various Commercial Banks providing their indicative Exchange Rates for commercial transactions with customers.

    CURRENCYBUYINGSELLING
    AED43.404943.4991
    AUD119.0363119.2922
    CAD127.7900128.0654
    CHF174.1353174.5104
    CNY24.642424.6943
    EUR189.0542189.4686
    GBP221.2356221.7364
    JPY1.44571.4489
    SAR42.479242.5708
    USD159.2910159.6543
  • Google Cloud, Ericsson to jointly develop 5G, edge cloud solutions

    Google Cloud, Ericsson to jointly develop 5G, edge cloud solutions

    KARACHI: Google Cloud and Ericsson (NASDAQ: ERIC) on Monday announced a partnership to jointly develop 5G and edge cloud solutions to help communications service providers (CSPs) digitally transform and to unlock new enterprise and consumer use cases.

    (more…)
  • Exchange rate: buying, selling of Saudi Riyal in rupee on July 12

    Exchange rate: buying, selling of Saudi Riyal in rupee on July 12

    KARACHI: Following are the rates of buying and selling of one Saudi Riyal (SAR) in Pakistani Rupee (PKR) in open market on July 12, 2021:

    Buying: Rs 41.50 to the Saudi Riyal

    Selling: Rs 42.00 to the Saudi Riyal

    Today’s SAR to PKR (Saudi Riyal Price in Pakistan Rupee 2021) exchange rate has been given here. All rates are updated every hour to offer you the best Saudi Riyal to Pakistani Rupee.

    The Saudi Riyal/ Rupee PKR parity depends on open market rates which are set by the market forces on the basis of demand of the foreign currency.

    Disclaimer: Team PKRevenue.com provides the available rates of open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting of the story. So the team is not responsible for any inaccuracy of the data.

  • Exchange rate: buying, selling of UAE Dirham in rupee on July 12

    Exchange rate: buying, selling of UAE Dirham in rupee on July 12

    KARACHI: Following are the rates of buying and selling of one UAE Dirham (AED) in Pakistani Rupee (PKR) in open market on July 12, 2021:

    Buying: Rs 42.50 to the UAE Dirham

    Selling: Rs 43.00 to the UAE DIrham

    Today’s AED to PKR (UAE Dirham Price in Pakistan Rupee 2021) exchange rate has been given here. All rates are updated every hour to offer you the best UAE Dirham to Pakistani Rupee.

    The UAE Dirham/ Rupee PKR parity depends on open market rates which are set by the market forces on the basis of demand of the foreign currency.

    Disclaimer: Team PKRevenue.com provides the available rates of open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting of the story. So the team is not responsible for any inaccuracy of the data.

  • Exchange rate: buying, selling of Euro in rupee on July 12

    Exchange rate: buying, selling of Euro in rupee on July 12

    KARACHI: Following are the rates of buying and selling of one Euro (EUR) in Pakistani Rupee (PKR) in open market on July 12, 2021:

    Buying: Rs 185.50 to the Euro

    Selling: Rs 187-50 to the Euro

    Today’s EUR to PKR (Euro Price in Pakistan Rupee 2021) exchange rate has been given here. All rates are updated every hour to offer you the best Euro to Pakistani Rupee.

    The Euro/ Rupee PKR parity depends on open market rates which are set by the market forces on the basis of demand of the foreign currency.

    Disclaimer: Team PKRevenue.com provides the available rates of open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting of the story. So the team is not responsible for any inaccuracy of the data.

  • Exchange rate: buying, selling of UK Pound in rupee on July 12

    Exchange rate: buying, selling of UK Pound in rupee on July 12

    KARACHI: Following are the rates of buying and selling of one UK Pound Sterling (GBP) in Pakistani Rupee (PKR) in open market on July 12, 2021:

    Buying: Rs 217 to the UK Pound Sterling

    Selling: Rs 220 to the UK Pound Sterling

    Today’s GBP to PKR (UK Pound Sterling Price in Pakistan Rupee 2021) exchange rate has been given here. All rates are updated every hour to offer you the best UK Pound Sterling to Pakistani Rupee.

    The UK Pound Sterling/ Rupee PKR parity depends on open market rates which are set by the market forces on the basis of demand of the foreign currency.

    Disclaimer: Team PKRevenue.com provides the available rates of open market, which are subject to change every hour. Team PKRevenue.com provides the available exchange rates at the time of posting of the story. So the team is not responsible for any inaccuracy of the data.