Author: Faisal Shahnawaz

  • Pakistan vows to provide affordable internet, meaningful connectivity

    Pakistan vows to provide affordable internet, meaningful connectivity

    Pakistan is committed to work for affordable internet, universal and meaningful connectivity and close global and regional cooperation, said Federal Minister for IT and Telecommunication Syed Amin Ul Haque.

    He was addressing the Ministerial Rountable Conference (ITUPP 2022) in Bucharest, Romania on Sunday.

    The minister said the government of Pakistan through its Universal Service Fund initiative is running diverse telecom infrastructure and services programs that are playing a pivotal role in providing high-speed Internet to unserved, underserved & hardest-to-connect communities.

    The subsidy driven programs are accelerating digital transformation and are empowering marginal communities to ease into digital ecosystem, with special emphasis on gender inclusivity, he added. During last four years we have contracted 79 new projects worth over 266 Million USD to provide coverage to 28 million people, he added.

    READ MORE: Google Career Certificates to bring digital revolution in Pakistan

    He said the government of Pakistan also intends to provide not only a conducive environment but to drive both the demand and supply sides of the ecosystem, hence creating an image of a globally competitive and prosperous country that provides a high quality of life for all its citizens.

    As part of our digital transformation journey, the government is targeting an ambitious slogan “Smartphone for All”. It is pursuing a multipronged implementation strategy.

    This will range from nascent policy interventions for creating a harmonized regulatory environment to digital awareness and skills development programs for harnessing a culture of indigenous research and innovation, he added.

    Moreover, for augmented, seamless and transparent delivery of government to government/business/citizen services, we are implementing a comprehensive smart government ecosystem, which is helping us to consolidate our resources and efforts for achieving the public service delivery, efficiently and effectively, Syed Amin Ul Haque said.

    READ MORE: PTA warns internet users of death punishment for blasphemy

    The Federal Minister for IT said the government of Pakistan has a strong vision to empower talented youth of Pakistan by providing opportunities where they can embark on entrepreneurship as a career.

    For this purpose, Government is providing an enabling environment to talented youth by establishing tech-based National Incubation Centers (NIC), he said.

    During last year, Pakistani startup space caught the global attention of renowned investors & VC firms and attracted record highest ever investments with 275 per cent increase, he said.

    About recent floods in Pakistan and climate changes, the Federal Minister for IT said despite being lowest on global carbon emission ranking, Pakistan is one of the largest affectees of climate changes in the world. Recent floods in the country have been devastating and the havoc left behind is out of realm of imagination, he added.

  • Bitcoin to PKR, USD on September 25, 2022

    Bitcoin to PKR, USD on September 25, 2022

    KARACHI: The exchange rate of Bitcoint (BTC) in Pakistani Rupee (PKR) and US Dollar (USD) on September 25, 2022.

    One Bitcoin (BTC) in Pakistani Rupee (PKR) is Rs4,583,141.00 on September 25, 2022 at 12:45 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs4,588,583.54 at closing on September 24, 2022.

    The rate of Bitcoin in US Dollar (USD) is $19,036.15 on September 25, 2022 at 12:45 PM Pakistan Standard Time (PST) in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate $19,135.04 at closing on September 24, 2022.

    READ MORE: Bitcoin to PKR, USD on September 24, 2022

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    Ripple to PKR, USD on September 25, 2022

    KARACHI: The exchange rate of Ripple (XRP) in Pakistani Rupee (PKR) and US Dollar (USD) on September 25, 2022.

    One Ripple (XRP) in Pakistani Rupee (PKR) is Rs116.74 on September 25, 2022 at 12:45 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs120.12 at closing on September 24, 2022.

    The rate of Ripple in US Dollar (USD) is $0.48 on September 25, 2022 at 12:45 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate of $0.50 at closing on September 24, 2022.

    READ MORE: Ripple to PKR, USD on September 24, 2022

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    Dogecoin to PKR, USD on September 25, 2022

    KARACHI: The exchange rate of Dogecoin (DOGE) in Pakistani Rupee (PKR) and US Dollar (USD) on September 25, 2022.

    One Dogecoin to PKR is Rs15.16 on September 25, 2022 at 12:45 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs16.18 at closing on September 24, 2022.

    The rate of Dogecoin in US Dollar (USD) is $0.06 on September 25, 2022 at 12:45 pM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate $0.07 at closing on September 24, 2022.

    READ MORE: Dogecoin to PKR, USD on September 24, 2022

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    Disclaimer: All data and information are provided for informational purposes only. The data has not been provided for trading purposes or financial, investment, tax, legal, accounting, or other advice. In the case of trading, it is advised to consult your broker or financial representative to verify pricing before executing any trade. The exchange rate does not constitute investment advice. Further, it is not a recommendation to buy, sell or hold any security or financial product.

  • Ripple to PKR, USD on September 25, 2022

    Ripple to PKR, USD on September 25, 2022

    KARACHI: The exchange rate of Ripple (XRP) in Pakistani Rupee (PKR) and US Dollar (USD) on September 25, 2022.

    One Ripple (XRP) in Pakistani Rupee (PKR) is Rs116.74 on September 25, 2022 at 12:45 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs120.12 at closing on September 24, 2022.

    The rate of Ripple in US Dollar (USD) is $0.48 on September 25, 2022 at 12:45 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate of $0.50 at closing on September 24, 2022.

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    Dogecoin to PKR, USD on September 25, 2022

    KARACHI: The exchange rate of Dogecoin (DOGE) in Pakistani Rupee (PKR) and US Dollar (USD) on September 25, 2022.

    One Dogecoin to PKR is Rs15.16 on September 25, 2022 at 12:45 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs16.18 at closing on September 24, 2022.

    The rate of Dogecoin in US Dollar (USD) is $0.06 on September 25, 2022 at 12:45 pM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate $0.07 at closing on September 24, 2022.

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    Bitcoin to PKR, USD on September 25, 2022

    KARACHI: The exchange rate of Bitcoint (BTC) in Pakistani Rupee (PKR) and US Dollar (USD) on September 25, 2022.

    One Bitcoin (BTC) in Pakistani Rupee (PKR) is Rs4,583,141.00 on September 25, 2022 at 12:45 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs4,588,583.54 at closing on September 24, 2022.

    The rate of Bitcoin in US Dollar (USD) is $19,036.15 on September 25, 2022 at 12:45 PM Pakistan Standard Time (PST) in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate $19,135.04 at closing on September 24, 2022.

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    Disclaimer: All data and information are provided for informational purposes only. The data has not been provided for trading purposes or financial, investment, tax, legal, accounting, or other advice. In the case of trading, it is advised to consult your broker or financial representative to verify pricing before executing any trade. The exchange rate does not constitute investment advice. Further, it is not a recommendation to buy, sell or hold any security or financial product.

  • Dogecoin to PKR, USD on September 25, 2022

    Dogecoin to PKR, USD on September 25, 2022

    KARACHI: The exchange rate of Dogecoin (DOGE) in Pakistani Rupee (PKR) and US Dollar (USD) on September 25, 2022.

    One Dogecoin to PKR is Rs15.16 on September 25, 2022 at 12:45 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs16.18 at closing on September 24, 2022.

    The rate of Dogecoin in US Dollar (USD) is $0.06 on September 25, 2022 at 12:45 pM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate $0.07 at closing on September 24, 2022.

    READ MORE: Dogecoin to PKR, USD on September 24, 2022

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    Ripple to PKR, USD on September 25, 2022

    KARACHI: The exchange rate of Ripple (XRP) in Pakistani Rupee (PKR) and US Dollar (USD) on September 25, 2022.

    One Ripple (XRP) in Pakistani Rupee (PKR) is Rs116.74 on September 25, 2022 at 12:45 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs120.12 at closing on September 24, 2022.

    The rate of Ripple in US Dollar (USD) is $0.48 on September 25, 2022 at 12:45 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate of $0.50 at closing on September 24, 2022.

    READ MORE: Ripple to PKR, USD on September 24, 2022

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    Bitcoin to PKR, USD on September 25, 2022

    KARACHI: The exchange rate of Bitcoint (BTC) in Pakistani Rupee (PKR) and US Dollar (USD) on September 25, 2022.

    One Bitcoin (BTC) in Pakistani Rupee (PKR) is Rs4,583,141.00 on September 25, 2022 at 12:45 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs4,588,583.54 at closing on September 24, 2022.

    The rate of Bitcoin in US Dollar (USD) is $19,036.15 on September 25, 2022 at 12:45 PM Pakistan Standard Time (PST) in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate $19,135.04 at closing on September 24, 2022.

    READ MORE: Bitcoin to PKR, USD on September 24, 2022

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    Disclaimer: All data and information are provided for informational purposes only. The data has not been provided for trading purposes or financial, investment, tax, legal, accounting, or other advice. In the case of trading, it is advised to consult your broker or financial representative to verify pricing before executing any trade. The exchange rate does not constitute investment advice. Further, it is not a recommendation to buy, sell or hold any security or financial product.

  • PSMC offers free WagonR registration amid sales slump

    PSMC offers free WagonR registration amid sales slump

    KARACHI: Pak Suzuki Motor Company (PSMC) has announced free registration on booking of all variants of Suzuki WagonR for the limited time offer only.

    The decision has come after significant decline of motor vehicles recorded in the first two months of the current fiscal year.

    The company stated that the offer is valid on all WagonR variants across Suzuki’s Authorised Dealerships.

    According to recent report, the volumetric sales of Pak Suzuki plunged by 41 per cent to its 27-month low to clocked in at 3.9k units in August 2022, wherein Ravi sales fell by 72 per cent, followed by Alto and Cultus, which are down by 50 per cent and 38 per cent, respectively.

    READ MORE: Suzuki Motor announces further plant shutdown in Pakistan

    The slump in sales has been witnessed due to restriction imposed by the State Bank of Pakistan (SBP) on import of Completely Knocked Down (CKD) unit. The import of CKD is subject to prior approval of the SBP.

    In this regard, the company announced on September 07, 2022 further plant shut down due to shortage of raw material following restriction imposed by the central bank.

    The company in a communication sent to Pakistan Stock Exchange (PSX) on September 06, 2022, stated that the State Bank of Pakistan (SBP) had introduced a mechanism for prior approval for import under HS Code 8703 category including CKD through a circular No. 09 of 2022 dated May 2022.

    Restriction had adversely impacted clearance of import consignment which resultantly affected the inventory levels, the company added.

    READ MORE: New prices of Suzuki cars in Pakistan from August 16, 2022

    Therefore, due to shortage of inventory level, the management of the company has decided to shut down period of automobile plant till September 09, 2022.

    According to details of WagonR, on which the company granted free registration, are:

    The car has a naturally aspired 998cc three-cylinder petrol engine that sends 67 horsepower (hp) and 90 Newton-meters (Nm) of torque to the front wheels through a five-speed manual or an AGS automatic transmission, depending on the variant.

    Some of the basic features include dual airbags, AC, power windows (VXL and AGS only), immobilizer, central locking, power steering and child locks.

    READ MORE: Pakistan car sales plummet by 50% on import restriction

  • Penalties for failure to file return tax year 2022 within due date

    Penalties for failure to file return tax year 2022 within due date

    Tax laws have prescribed penalties for failure to file return for tax year 2022 within due date. The last date for filing income tax return for tax year 2022 is September 30, 2022. The Federal Board of Revenue (FBR) recently announced it would not extend the last date beyond September 30, 2022.

    Sources in the FBR said that the late filing of tax return would penal action as defined under the Income Tax Ordinance, 2001.

    READ MORE: FBR fails to remove return filing glitches; KTBA seeks legal time

    According to the tax laws, there are penalties where any person fails to furnish a return of income as required under Section 114 of Income Tax Ordinance, within due date.

    In case of failure to furnish return by due date, such person shall pay a penalty of equal to higher of:

    (a) 0.1 per cent of the tax payable in respect of that tax year for each day of default; or

    (b) rupees one thousand for each day of default: Provided that minimum penalty shall be —

    (i) rupees ten thousand in case of individual having seventy-five percent or more income from salary; or

    (ii) rupees fifty thousand in all other cases:

    READ MORE: FBR advised to fix glitches for smooth filing of income tax returns

    Provided further that maximum penalty shall not exceed two hundred percent of tax payable by the person in a tax year:

    Provided also that the amount of penalty shall be reduced by 75 per cent, 50 per cent and 25 per cent if the return is filed within one, two and three months respectively after the due date or extended due date of filing of return as prescribed under the law;

    Explanation.— For the purposes of this entry, it is declared that the expression “tax payable” means tax chargeable on the taxable income on the basis of assessment made or treated to have been made under section 120, 121, 122 or 122D.

    The tax laws also prescribed that where any person fails to furnish wealth statement or wealth reconciliation statement. In such case person shall pay a penalty of 0.1 per cent of the taxable income per week or Rs.100,000 whichever is higher.

    READ MORE: Dental practitioners directed to get sales tax registration

    The FBR sources said that besides imposition of penalties for failure to file return by due date the defaulting person will also not be included in the active taxpayers list.

    Section 182A of the Income Tax Ordinance, 2001 explained the situation when return not filed within due date.

    Section 182A. Return not filed within due date.—(1) Notwithstanding anything contained in this Ordinance, where a person fails to file a return of income under section 114 by the due date as specified in section 118 or by the date as extended by the Board under section 214A or extended by the Commissioner under section 119, as the case may be, such person shall—

    (a) not be included in the active taxpayers’ list for the year for which return was not filed within the due date:

    READ MORE: Tax rates on profit from bank deposits during year 2022/2023

    Provided that without prejudice to any other liability under this Ordinance, the person shall be included in the active taxpayer ‘ list on filing return after the due date, if the person pays surcharge at Rupees-

    (i) twenty thousand in case of a company;

    (ii) ten thousand in case of an association of persons;

    (iii) one thousand in case of an individual.

    “Explanation.—For the removal of doubt it is clarified that the provisions of this section shall apply from tax year 2018 and onwards for which the first Active Taxpayers List is to be issued on first day of March, 2019 under Income Tax Rules, 2002.; and

    (b) not be allowed, for that tax year, to carry forward any loss under Part VIII of Chapter IV;

    (c) not be issued refund during the period the person is not included in the active taxpayers’ list; and

    (d) not be entitled to additional payment for delayed refund under section 171 and the period the person is not included in the active taxpayers’ list, shall not be counted for computation of additional payment for delayed refund.

  • SBP advises general public not to share banking credentials

    SBP advises general public not to share banking credentials

    KARACHI: State Bank of Pakistan (SBP) on Saturday advised general public not to share their personal and banking credentials with persons impersonating SBP officials of other authorities.

    (more…)
  • Bitcoin to PKR, USD on September 24, 2022

    Bitcoin to PKR, USD on September 24, 2022

    KARACHI: The exchange rate of Bitcoint (BTC) in Pakistani Rupee (PKR) and US Dollar (USD) on September 24, 2022.

    One Bitcoin (BTC) in Pakistani Rupee (PKR) is Rs4,588,583.54 on September 24, 2022 at 09:10 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs4,630,045.87 at closing on September 23, 2022.

    The rate of Bitcoin in US Dollar (USD) is $19,135.04 on September 24, 2022 at 09:10 AM Pakistan Standard Time (PST) in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate $19,332.02 at closing on September 23, 2022.

    READ MORE: Bitcoin to PKR, USD on September 23, 2022

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    Ripple to PKR, USD on September 24, 2022

    KARACHI: The exchange rate of Ripple (XRP) in Pakistani Rupee (PKR) and US Dollar (USD) on September 24, 2022.

    One Ripple (XRP) in Pakistani Rupee (PKR) is Rs120.12 on September 24, 2022 at 09:10 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs115.12 at closing on September 23, 2022.

    The rate of Ripple in US Dollar (USD) is $0.50 on September 24, 2022 at 07:10 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate of $0.48 at closing on September 23, 2022.

    READ MORE: Ripple to PKR, USD on September 23, 2022

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    Dogecoin to PKR, USD on September 24, 2022

    KARACHI: The exchange rate of Dogecoin (DOGE) in Pakistani Rupee (PKR) and US Dollar (USD) on September 24, 2022.

    One Dogecoin to PKR is Rs16.18 on September 24, 2022 at 09:10 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs14.28 at closing on September 23, 2022.

    The rate of Dogecoin in US Dollar (USD) is $0.07 on September 24, 2022 at 09:10 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate $0.06 at closing on September 23, 2022.

    READ MORE: Dogecoin to PKR, USD on September 23, 2022

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    Disclaimer: All data and information are provided for informational purposes only. The data has not been provided for trading purposes or financial, investment, tax, legal, accounting, or other advice. In the case of trading, it is advised to consult your broker or financial representative to verify pricing before executing any trade. The exchange rate does not constitute investment advice. Further, it is not a recommendation to buy, sell or hold any security or financial product.

  • Ripple to PKR, USD on September 24, 2022

    Ripple to PKR, USD on September 24, 2022

    KARACHI: The exchange rate of Ripple (XRP) in Pakistani Rupee (PKR) and US Dollar (USD) on September 24, 2022.

    One Ripple (XRP) in Pakistani Rupee (PKR) is Rs120.12 on September 24, 2022 at 09:10 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs115.12 at closing on September 23, 2022.

    The rate of Ripple in US Dollar (USD) is $0.50 on September 24, 2022 at 07:10 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate of $0.48 at closing on September 23, 2022.

    READ MORE: Ripple to PKR, USD on September 23, 2022

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    Dogecoin to PKR, USD on September 24, 2022

    KARACHI: The exchange rate of Dogecoin (DOGE) in Pakistani Rupee (PKR) and US Dollar (USD) on September 24, 2022.

    One Dogecoin to PKR is Rs16.18 on September 24, 2022 at 09:10 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs14.28 at closing on September 23, 2022.

    The rate of Dogecoin in US Dollar (USD) is $0.07 on September 24, 2022 at 09:10 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate $0.06 at closing on September 23, 2022.

    READ MORE: Dogecoin to PKR, USD on September 23, 2022

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    Bitcoin to PKR, USD on September 24, 2022

    KARACHI: The exchange rate of Bitcoint (BTC) in Pakistani Rupee (PKR) and US Dollar (USD) on September 24, 2022.

    One Bitcoin (BTC) in Pakistani Rupee (PKR) is Rs4,588,583.54 on September 24, 2022 at 09:10 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs4,630,045.87 at closing on September 23, 2022.

    The rate of Bitcoin in US Dollar (USD) is $19,135.04 on September 24, 2022 at 09:10 AM Pakistan Standard Time (PST) in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate $19,332.02 at closing on September 23, 2022.

    READ MORE: Bitcoin to PKR, USD on September 23, 2022

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    Disclaimer: All data and information are provided for informational purposes only. The data has not been provided for trading purposes or financial, investment, tax, legal, accounting, or other advice. In the case of trading, it is advised to consult your broker or financial representative to verify pricing before executing any trade. The exchange rate does not constitute investment advice. Further, it is not a recommendation to buy, sell or hold any security or financial product.

  • Dogecoin to PKR, USD on September 24, 2022

    Dogecoin to PKR, USD on September 24, 2022

    KARACHI: The exchange rate of Dogecoin (DOGE) in Pakistani Rupee (PKR) and US Dollar (USD) on September 24, 2022.

    One Dogecoin to PKR is Rs16.18 on September 24, 2022 at 09:10 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs14.28 at closing on September 23, 2022.

    The rate of Dogecoin in US Dollar (USD) is $0.07 on September 24, 2022 at 09:10 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate $0.06 at closing on September 23, 2022.

    READ MORE: Dogecoin to PKR, USD on September 23, 2022

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    Ripple to PKR, USD on September 24, 2022

    KARACHI: The exchange rate of Ripple (XRP) in Pakistani Rupee (PKR) and US Dollar (USD) on September 24, 2022.

    One Ripple (XRP) in Pakistani Rupee (PKR) is Rs120.12 on September 24, 2022 at 09:10 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs115.12 at closing on September 23, 2022.

    The rate of Ripple in US Dollar (USD) is $0.50 on September 24, 2022 at 07:10 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate of $0.48 at closing on September 23, 2022.

    READ MORE: Ripple to PKR, USD on September 23, 2022

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    Bitcoin to PKR, USD on September 24, 2022

    KARACHI: The exchange rate of Bitcoint (BTC) in Pakistani Rupee (PKR) and US Dollar (USD) on September 24, 2022.

    One Bitcoin (BTC) in Pakistani Rupee (PKR) is Rs4,588,583.54 on September 24, 2022 at 09:10 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs4,630,045.87 at closing on September 23, 2022.

    The rate of Bitcoin in US Dollar (USD) is $19,135.04 on September 24, 2022 at 09:10 AM Pakistan Standard Time (PST) in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate $19,332.02 at closing on September 23, 2022.

    READ MORE: Bitcoin to PKR, USD on September 23, 2022

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    Disclaimer: All data and information are provided for informational purposes only. The data has not been provided for trading purposes or financial, investment, tax, legal, accounting, or other advice. In the case of trading, it is advised to consult your broker or financial representative to verify pricing before executing any trade. The exchange rate does not constitute investment advice. Further, it is not a recommendation to buy, sell or hold any security or financial product.