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Author: Faisal Shahnawaz

  • Dogecoin to Pakistani Rupee on September 05, 2022

    Dogecoin to Pakistani Rupee on September 05, 2022

    KARACHI: The exchange rate of Dogecoin (DOGE) in Pakistani Rupee (PKR) is Rs13.73 on September 05, 2022 at 12:10 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs13.80 at closing on September 04, 2022.

    The rate of Dogecoin in US Dollar (USD) is $0.06 on September 05, 2022 at 12:10 PM 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 04, 2022.

    Dogecoin to Pakistani Rupee on September 04, 2022

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    Ripple to Pakistani Rupee on September 05, 2022

    KARACHI: The exchange rate of Ripple (XRP) in Pakistani Rupee (PKR) is Rs72.14 on September 05, 2022 at 12:10 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs72.37 at closing on September 04, 2022.

    The rate of Ripple in US Dollar (USD) is $0.33 on September 05, 2022 at 12:10 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate of $0.33 at closing on September 04, 2022.

    Ripple to Pakistani Rupee on September 04, 2022

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    Bitcoin to Pakistani Rupee on September 05, 2022

    KARACHI: The exchange rate of Bitcoin (BTC) in Pakistani Rupee (PKR) is Rs4,352,222.44 on September 05, 2022 at 12:10 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs4,341,620.80 at closing on September 04, 2022.

    The rate of Bitcoin in US Dollar (USD) is $19,734.08 on September 05, 2022 at 12:10 PM Pakistan Standard Time (PST) in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate $19,842.75 at closing on September 04, 2022.

    Bitcoin to Pakistani Rupee on September 04, 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.

  • Bitcoin to Pakistani Rupee on September 04, 2022

    Bitcoin to Pakistani Rupee on September 04, 2022

    KARACHI: The exchange rate of Bitcoin (BTC) in Pakistani Rupee (PKR) is Rs4,322,495.45 on September 04, 2022 at 12:36 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs4,369,760.57 at closing on September 03, 2022.

    The rate of Bitcoin in US Dollar (USD) is $19,710.42 on September 04, 2022 at 12:36 PM Pakistan Standard Time (PST) in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate $19,925.95 at closing on September 03, 2022.

    READ MORE: Bitcoin to Pakistani Rupee on September 03, 2022

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    Ripple to Pakistani Rupee on September 04, 2022

    KARACHI: The exchange rate of Ripple (XRP) in Pakistani Rupee (PKR) is Rs72.43 on September 04, 2022 at 12:36 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs72.31 at closing on September 03, 2022.

    The rate of Ripple in US Dollar (USD) is $0.33 on September 04, 2022 at 12:36 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate of $0.33 at closing on September 03, 2022.

    READ MORE: Ripple to Pakistani Rupee on September 03, 2022

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    Dogecoin to Pakistani Rupee on September 04, 2022

    KARACHI: The exchange rate of Dogecoin (DOGE) in Pakistani Rupee (PKR) is Rs13.71 on September 04, 2022 at 12:36 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs13.48 at closing on September 03, 2022.

    The rate of Dogecoin in US Dollar (USD) is $0.06 on September 04, 2022 at 12:36 PM 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 03, 2022.

    READ MORE: Dogecoin to Pakistani Rupee on September 03, 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 Pakistani Rupee on September 04, 2022

    Ripple to Pakistani Rupee on September 04, 2022

    KARACHI: The exchange rate of Ripple (XRP) in Pakistani Rupee (PKR) is Rs72.43 on September 04, 2022 at 12:36 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs72.31 at closing on September 03, 2022.

    The rate of Ripple in US Dollar (USD) is $0.33 on September 04, 2022 at 12:36 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate of $0.33 at closing on September 03, 2022.

    READ MORE: Ripple to Pakistani Rupee on September 03, 2022

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    Dogecoin to Pakistani Rupee on September 04, 2022

    KARACHI: The exchange rate of Dogecoin (DOGE) in Pakistani Rupee (PKR) is Rs13.71 on September 04, 2022 at 12:36 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs13.48 at closing on September 03, 2022.

    The rate of Dogecoin in US Dollar (USD) is $0.06 on September 04, 2022 at 12:36 PM 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 03, 2022.

    READ MORE: Dogecoin to Pakistani Rupee on September 03, 2022

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    Bitcoin to Pakistani Rupee on September 04, 2022

    KARACHI: The exchange rate of Bitcoin (BTC) in Pakistani Rupee (PKR) is Rs4,322,495.45 on September 04, 2022 at 12:36 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs4,369,760.57 at closing on September 03, 2022.

    The rate of Bitcoin in US Dollar (USD) is $19,710.42 on September 04, 2022 at 12:36 PM Pakistan Standard Time (PST) in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate $19,925.95 at closing on September 03, 2022.

    READ MORE: Bitcoin to Pakistani Rupee on September 03, 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 Pakistani Rupee on September 04, 2022

    Dogecoin to Pakistani Rupee on September 04, 2022

    KARACHI: The exchange rate of Dogecoin (DOGE) in Pakistani Rupee (PKR) is Rs13.71 on September 04, 2022 at 12:36 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs13.48 at closing on September 03, 2022.

    The rate of Dogecoin in US Dollar (USD) is $0.06 on September 04, 2022 at 12:36 PM 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 03, 2022.

    READ MORE: Dogecoin to Pakistani Rupee on September 03, 2022

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    Ripple to Pakistani Rupee on September 04, 2022

    KARACHI: The exchange rate of Ripple (XRP) in Pakistani Rupee (PKR) is Rs72.43 on September 04, 2022 at 12:36 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs72.31 at closing on September 03, 2022.

    The rate of Ripple in US Dollar (USD) is $0.33 on September 04, 2022 at 12:36 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate of $0.33 at closing on September 03, 2022.

    READ MORE: Ripple to Pakistani Rupee on September 03, 2022

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    Bitcoin to Pakistani Rupee on September 04, 2022

    KARACHI: The exchange rate of Bitcoin (BTC) in Pakistani Rupee (PKR) is Rs4,322,495.45 on September 04, 2022 at 12:36 PM Pakistan Standard Time (PST), in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs4,369,760.57 at closing on September 03, 2022.

    The rate of Bitcoin in US Dollar (USD) is $19,710.42 on September 04, 2022 at 12:36 PM Pakistan Standard Time (PST) in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate $19,925.95 at closing on September 03, 2022.

    READ MORE: Bitcoin to Pakistani Rupee on September 03, 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.

  • Power tariff hike termed disaster for industries

    Power tariff hike termed disaster for industries

    KARACHI: SITE Association on Industry on Saturday termed the significant power tariff as disaster for industries.

    Abdul Rasheed, President Site Association of Industry, while expressing deep concern over the massive hike in power tariff, Fuel Adjustment Cost (FAC) and reintroduction/ increase in fixed charges, has termed this unbearable upsurge in electricity tariff as disastrous for the industries.

    In an appeal to Prime Minister Shahbaz Sharif and Federal Minister for Power Engr. Khurram Dastgir, SAI chief demanded to immediately withdraw FAC, fixed charges and increase in electricity rates to continue uninterrupted production activities, otherwise it will be impossible to run the industries due to cost overrun.

    “The business community cannot bear the extraordinary increase of 80pc in electricity rates, rather industrialists will be forced to close their units as a result of this move, as they are not able to bear this huge increase in electricity rates,” he said, adding that the base tariff has been increased by Rs 9.8972 per unit, which has increased the price per unit from Rs 19 to around Rs 30 per unit.

    Apart from this, 17pc sales tax and income tax will also be applicable on this increased basic tariff of Rs.30 per unit of electricity. When all these components are combined, an unbearable minimum impact to 80 per cent.

    SAI president further said that various tariffs for industries suspended in the past under the policy of peak and off-peak hours have been reinstated once again. This will increase the production cost of the industries enormously. In such a case, the industrialists can reduce their production by 50 per cent because they cannot bear this burden in the severe economic crisis in the country.

    Abdul Rasheed requested the Prime Minister and Minister Power to avoid excessive increase in fuel adjustment charges (FAC), fixed charges and electricity tariffs in the best interest of the economy and to save the industries from destruction.

    It should be withdrawn immediately so that the anxiety of the industrial community can be removed, and they can continue their productive activities with satisfaction and create ample employment opportunities.

  • FED on tobacco to promote documentation: experts

    FED on tobacco to promote documentation: experts

    KARACHI: Tax experts believed that newly imposed federal advance excise duty (FED) on tobacco purchase will not impact farmers but manufacturers and would dent the massive tax theft in the tobacco sector.

    They said that tax evaders are pressurizing the FBR through farmers for withdrawal of this major documentation measure and creating a false impression of farmers being taxed.

    Recently, Khyber Pakhtunkhwa Farmers Rights Protection Association (KPFRPA) has opposed the advance excise duty and wrongly associated it with farmers.

    READ MORE: Pakistan Tobacco’s profit falls on high taxes

    Spokesperson of FBR clarifies that, “FED on un-manufactured Tobacco has been enhanced from Rs 10/per kg to Rs 390/per kg w.ef 23.08.2022, through promulgation of Tax Laws (Second Amendment) Ordinance,2022, in terms of S.No 7 of Table 1 of First Schedule to the Federal Excise Act 2005.”

    He added that the FED is chargeable on unmanufactured Tobacco for manufacturers of cigarettes by the Green LEAF Threshing Units (GLT Units) after processing and conversion of tobacco green leaf as defined under sub-section (2A) of section 2 of the Federal Excise Act 2005.

    He said that the amount of FED is adjustable in terms of section 6 of the Federal Excise Act 2005, from the amount of duty collected. Therefore, the main purpose of imposition of FED on unmanufactured tobacco is the documentation dormant undocumented segments of Tobacco industry.

    READ MORE: Habib Bank posts 33% decline in half year profit

    Furthermore, he added that no FED is imposed or chargeable on raw tobacco leaf supplied by the tobacco growers/farmers to the GLT Units.

    Experts believe that the imposition of advance excise duty has been instrumental in documentation of the purchase of tobacco by manufacturers of cigarettes and other tobacco products as all manufacturers who purchase tobacco from farmers must process tobacco through GLT plants.

    READ MORE: FFBL declares Rs1.7 billion in 2QCY22

    It is pertinent to mention that the previous government had increased the tax on tobacco from Rs. 10 per kg to Rs. 300 per kg, however, it had to retract the decision due to pressure from lobby sitting in power corridors, related to illegal cigarette producers.

    The government must take a strong stand on this decision. Otherwise, it may help the rise in illicit trade as it will once again give these illegal manufacturers the opportunity to hide their actual tobacco purchases and channel the unlawfully gained revenues from this evasion into marketing and fiscal violations.

    READ MORE: Hyundai announces second quarter financial results

  • Weekly Review: investors to remain cautious over socio-economic situation

    Weekly Review: investors to remain cautious over socio-economic situation

    KARACHI: Investors of Pakistan stocks may remain cautious over the ongoing socio-economic situation in the country.

    Analysts at Arif Habib Limited said that following the disbursement of tranche by the IMF, government is expected to unlock further foreign economic assistance from various international creditors in addition to flood relief aid from friendly countries and other financial institutions.

    READ MORE: Pakistan stocks shed 151 points in range bound trading

    However, investor will remain cautious given the current overall socio-economic situation of the country. Albeit, the analysts expect the market to be range bound in the upcoming week.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) is currently trading at a PER of 4.2x (2023) compared to Asia Pacific regional average of 12.5x while offering a dividend yield of 9.6 per cent versus 2.7 per cent offered by the region.

    In the outgoing week, the market remained jittery and showed a mixed trend. It commenced on a negative note amid concerns over the flood crisis and its overall impact on the economy.

    READ MORE: Pakistan stocks end in green as SBP gets IMF tranche

    However, the market soon recovered following the approval and subsequent disbursement of USD 1.17bn tranche from the IMF to Pakistan. As a result, Pak Rupee strengthened against the greenback, closing the week at PKR 218.98, up by PKR 1.68|0.8 per cent WoW.

    The bullish trend was short-lived as the announcement of inflation number for the month of Aug’22 (a 47-year high), changed the overall sentiment of the market.

    In addition, trade numbers released during the week too dampened the overall sentiment as it posted a 29 per cent MoM jump in August 2022. The market closed at 42,309 points, shedding 282 points (down by 0.7 per cent) WoW.

    READ MORE: Stocks end up 156 points amid political noise

    Sector-wise negative contributions came from i) Banks (118 points), ii) E&P (90 points), iii) Automobile Assembler (61 points), iv) Miscellaneous (40 points) and v) Textile Composite (31 points). Whereas, sectors which contributed positively were i) Cement (110 points), and ii) Leather & Tanneries (25 points).

    Scrip-wise negative contributors were HBL (73 points), TRG (47 points), PSEL (41 points), ENGRO (39 points) and POL (36 points). Meanwhile, scrip-wise positive contribution came from SYS (76 points), EFERT (48 points), KOHC (32 points), FABL (31 points) and SRVI (25 points).

    READ MORE: Pakistan stocks plunge despite IMF program revival

    Foreigners selling continued this week, clocking in at USD 0.74 million compared to a net sell of USD 1.87 million last week. Major selling was witnessed in Commercial Banks (USD 1.8 million) and Power (USD 0.8 million).

    On the local front, buying was reported by Banks/DFIs (USD 3.0 million) followed by Individuals (USD 2.4 million). Average volumes clocked in at 211 million shares (down by 15 per cent WoW) while average value traded settled at USD 31 million (down by 15 per cent WoW).

  • Bitcoin to Pakistani Rupee on September 03, 2022

    Bitcoin to Pakistani Rupee on September 03, 2022

    KARACHI: The exchange rate of Bitcoin (BTC) in Pakistani Rupee (PKR) is Rs4,369,760.57 on September 03, 2022 at 11:07 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs4,403,980.00 at closing on September 02, 2022.

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  • Ripple to Pakistani Rupee on September 03, 2022

    Ripple to Pakistani Rupee on September 03, 2022

    KARACHI: The exchange rate of Ripple (XRP) in Pakistani Rupee (PKR) is Rs72.31 on September 03, 2022 at 11:07 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs73.04 at closing on September 02, 2022.

    The rate of Ripple in US Dollar (USD) is $0.33 on September 03, 2022 at 11:07 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate of $0.33 at closing on September 02, 2022.

    READ MORE: Ripple to Pakistani Rupee on September 02, 2022

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    Dogecoin to Pakistani Rupee on September 03, 2022

    KARACHI: The exchange rate of Dogecoin (DOGE) in Pakistani Rupee (PKR) is Rs13.48 on September 03, 2022 at 11:07 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs13.65 at closing on September 02, 2022.

    The rate of Dogecoin in US Dollar (USD) is $0.06 on September 03, 2022 at 11:07 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 02, 2022.

    READ MORE: Dogecoin to Pakistani Rupee on September 02, 2022

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    Bitcoin to Pakistani Rupee on September 03, 2022

    KARACHI: The exchange rate of Bitcoin (BTC) in Pakistani Rupee (PKR) is Rs4,369,760.57 on September 03, 2022 at 11:07 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs4,403,980.00 at closing on September 02, 2022.

    The rate of Bitcoin in US Dollar (USD) is $19,925.95 on September 03, 2022 at 11:07 AM Pakistan Standard Time (PST) in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate $20,098.77 at closing on September 02, 2022.

    READ MORE: Bitcoin to Pakistani Rupee on September 02, 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 Pakistani Rupee on September 03, 2022

    Dogecoin to Pakistani Rupee on September 03, 2022

    KARACHI: The exchange rate of Dogecoin (DOGE) in Pakistani Rupee (PKR) is Rs13.48 on September 03, 2022 at 11:07 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Dogecoin has been calculated and compared with the rate Rs13.65 at closing on September 02, 2022.

    The rate of Dogecoin in US Dollar (USD) is $0.06 on September 03, 2022 at 11:07 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 02, 2022.

    READ MORE: Dogecoin to Pakistani Rupee on September 02, 2022

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    Ripple to Pakistani Rupee on September 03, 2022

    KARACHI: The exchange rate of Ripple (XRP) in Pakistani Rupee (PKR) is Rs72.31 on September 03, 2022 at 11:07 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate Rs73.04 at closing on September 02, 2022.

    The rate of Ripple in US Dollar (USD) is $0.33 on September 03, 2022 at 11:07 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Ripple has been calculated and compared with the rate of $0.33 at closing on September 02, 2022.

    READ MORE: Ripple to Pakistani Rupee on September 02, 2022

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    Bitcoin to Pakistani Rupee on September 03, 2022

    KARACHI: The exchange rate of Bitcoin (BTC) in Pakistani Rupee (PKR) is Rs4,369,760.57 on September 03, 2022 at 11:07 AM Pakistan Standard Time (PST), in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate Rs4,403,980.00 at closing on September 02, 2022.

    The rate of Bitcoin in US Dollar (USD) is $19,925.95 on September 03, 2022 at 11:07 AM Pakistan Standard Time (PST) in the open exchange market. The rate of Bitcoin has been calculated and compared with the rate $20,098.77 at closing on September 02, 2022.

    READ MORE: Bitcoin to Pakistani Rupee on September 02, 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.