Pkrevenue.com

Author: Faisal Shahnawaz

  • Toyota reduce prices of cars in Pakistan from August 16, 2022

    Toyota reduce prices of cars in Pakistan from August 16, 2022

    KARACHI: Toyota Motors has announced new reduced rates of its cars in Pakistan on Tuesday, which are applicable from August 16, 2022.

    According to Toyota Port Qasim Motors, the following are new ex-showroom Khi prices inclusive of current CVT plus Freight and Transit Insurance.

    Following are the new rates for all variants of Toyota Yaris:

    1. Toyota Yaris GLI MT 1.3L, the decreased price is Rs3,550,500.
    2. Toyota Yaris GLI CVT 1.3L, the decreased price is Rs3,780,500.
    3. Toyota Yaris ATIV MT 1.3L, the decreased price is Rs3,740,500.
    4. Toyota Yaris ATIV CVT 1.3L, the decreased price is Rs3,940,500.
    5. Toyota Yaris ATIV X MT 1.5L, the decreased price is Rs4,020,500.
    6. Toyota Yaris ATIV X CVT 1.5L, the decreased price is Rs4,270,500.

    READ MORE: Previous prices of Toyota Cars in Pakistan

    Following are new rates for all variants of Toyota Corolla X:

    1. Toyota Corolla ALTIS MT 1.6L, the decreased price is Rs4,980,500.
    2. Toyota Corolla ALTIS AT 1.6L, the decreased price is Rs4,800,500.
    3. Toyota Corolla ALTIS AT 1.6L Special Edition, the decreased price is Rs5,290,500.
    4. Toyota Corolla ALTIS CVT 1.8L, the decreased price is 5,280,500.
    5. Toyota Corolla Grande CVT 1.8L (Beige interior), the decreased price is Rs5,720,500.
    6. Toyota Corolla Grande CVT 1.8L (Black interior), the decreased price is Rs5,760,500.

    Following are new rates of all variants of Toyota Fortuner:

    1. Toyota Fortuner G 4*2 AT 2.7LO (petrol), the decreased price is Rs11,590,500.
    2. Toyota Fortuner V4*4 AT 2.7L HI (petrol) New, the decreased price is Rs13,800,500.
    3. Toyota Fortuner SIGMA 4*4 2.8L (diesel), the decreased price is Rs13,982,500.
    4. Toyota Fortuner 4*4 Legender (2755cc diesel), the decreased price is Rs14,712,500.

    READ MORE: Toyota Indus Motors announces plant shutdown

    Following are new rates of all variants Toyota Hilux Double Cabin 4*4 (diesel):

    1. Toyota Hilux D/C STD, the decreased price is Rs8,462,500.
    2. Toyota Revo G MT, the decreased price is Rs9,182,500.
    3. Toyota Revo G AT, the decreased price is Rs9,622,500.
    4. Toyota Revo V AT, the decreased price is Rs10,612,500.
    5. Toyota Revo 4*4 Rocco (2755cc diesel), the decreased price is Rs11,192,500.

    Following are new rates of all variants Toyota Hilux Single Cabin:

    1. Toyota Hilux S/C Deckless, the decreased price is Rs5,171,500.
    2. Toyota Hilux S/C 4*2 STD, the decreased price is Rs5,571,500.
    3. Toyota Hilux S/C 4*4 STD, the decreased price is Rs7,351,500.

    READ MORE: Toyota Indus Motors offers 100% refunds on booking cancellation

    Following are new rates of all variants of Toyota Cross Hybrid:

    1. Toyota Cross 1.8L Low, the decreased price is Rs11,188,000.
    2. Toyota Cross 1.8L Smart, the decreased price is Rs11,968,000.
    3. Toyota Cross 1.8L Premium, the decreased price is Rs12,258,000.
  • SBP issues KIBOR rates – August 16, 2022

    SBP issues KIBOR rates – August 16, 2022

    KARACHI: State Bank of Pakistan (SBP) on Tuesday issued the Karachi Interbank Offered Rates (KIBOR) as on August 16, 2022.

    Following are the latest KIBOR rates:

     TenorBIDOFFER
    1 – Week14.9215.42
    2 – Week14.9415.44
    1 – Month15.0015.50
    3 – Month15.6515.90
    6 – Month15.7415.99
    9 – Month15.7816.28
    1 – Year15.8116.31

    READ MORE: SBP issues KIBOR rates – August 15, 2022

  • Stocks shed 185 points amid profit taking

    Stocks shed 185 points amid profit taking

    KARACHI: Pakistan stocks recorded a decline of 185 points on Tuesday owing to interest of investors in profit booking.

    The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 43,437 points from previous day’s closing of 43,622 points, showing a decline of 185 points.

    READ MORE: Pakistan stocks gain 764 points on Saudi help reports

    Analysts at Arif Habib Limited said that the market observed a range bound session today.

    The benchmark KSE-100 index opened in the positive zone although investors opted to book profit which resulted the index to close in red.

    The refineries and E&P sectors remained in the limelight due to result announcement during the day.

    READ MORE: Weekly Review: stock market likely to move in positive zone

    Investors’ participation remained healthy whereas hefty volumes were witnessed in the 3rd tier stocks.

    Sectors contributing to the performance include Miscellaneous (-58.1 points), Technology (-52.2 points), E&P’s (-25.3 points), Automobile Assemblers (-24.0 points) and OMC’s (-21.3 points).

    READ MORE: Weekly Review: market likely to continue positive sentiments

    Volumes decreased from 541.5 million shares to 518.0 million shares (-4.3 per cent DoD). Average traded value also decreased by 3.7 per cent to reach US$ 75.8 million as against US$ 78.7 million.

    Stocks that contributed significantly to the volumes are CNERGY, FFL, UNITY, PRL and HASCOL.

    READ MORE: Pakistan stocks up 671 points on continuous rupee gain

  • Dollar slides for 11th day against Pakistani rupee on August 16, 2022

    Dollar slides for 11th day against Pakistani rupee on August 16, 2022

    KARACHI: Pakistani rupee (PKR) continued to make gain against the dollar for 11 consecutive days on Tuesday as exchange rate ended at Rs213.90 in interbank foreign exchange market.

    The exchange rate recorded a gain of eight paisas in rupee value to end at Rs213.90 to the dollar from previous day’s closing of Rs213.98 in the interbank foreign exchange market.

    READ MORE: Dollar falls for ten straight days against Pakistani Rupee; ends at Rs213.98

    The local units gained about Rs25.04 or 10.85 per cent during past 11 trading days. The rupee is continuously making recovery against the green back since making a historic low of Rs239.94 to the dollar on July 28, 2022.

    Currency experts said that reports of renewal of Saudi financial assistance helped to improve sentiments in the currency market. Further decline in international oil prices also helped the rupee to make gain.

    Further, Pakistani authorities are confident about release of $1.2 billion tranche by the International Monetary Fund (IMF) in next few days.

    Besides, they said that the tight monitoring of the State Bank of Pakistan (SBP) had eased the pressure on exchange rate.

    READ MORE: Dollar plummets to Rs215.49 against Pakistani Rupee on August 12, 2022

    It is worth mentioning that the foreign exchange reserves of the country depleted massively.

    Pakistan’s foreign exchange reserves have declined 43-month low at $13.56 billion by week ended August 05, 2022. The foreign exchange reserves of country fell by $648 million as those were $14.21 billion a week ago i.e. July 29, 2022.

    Pakistan’s foreign exchange reserves were seen at $13.597 billion on January 2019. The country’s foreign exchange reserves hit all-time high of $27.228 billion on August 27, 2021. Since then the foreign exchange reserves have declined by $13.668 billion.

    However, the recent recovery in rupee value may be attributed to the efforts of the central bank.

    READ MORE: Dollar continues to fall against PKR; ends at Rs218.88

    The State Bank of Pakistan (SBP) initiated inspection against the exchange companies on August 01, 2022. On August 2, 2022, the SBP suspended the operations of four branches of two ECs (Galaxy Exchange Co and Al-Hameed International Money Exchange Co) for violation of SBP regulations.

    The central bank also imposed monetary penalties on some ECs in the recent past. Besides, due to violations of SBP instructions, arrangements of 13 franchises have been terminated by six different ECs in the recent past.

    The dealers said that after assurance from the International Monetary Fund (IMF) that Pakistan had met all the requirement for the disbursement of $1.2 billion tranche under Extended Fund Facility (EFF).

    The currency experts said that the rupee was also supported by reduction in trade deficit during the first month of the current fiscal year.

    READ MORE: Rupee jumps to Rs221.91 against dollar

    The trade deficit narrowed by 18.33 per cent to $2.62 billion for the month of July 2022 as compared with the deficit of $3.23 billion in the same month of the last year.

    The trade deficit was mainly contracted due to 12.8 per cent decline in import bill during the month under review. The import bill of the country was reduced to $4.86 billion in July 2022 as compared with $5.57 billion in the same month of the last year.

  • State Bank’s foreign exchange rates – August 16, 2022

    State Bank’s foreign exchange rates – August 16, 2022

    KARACHI, August 16, 2022 — The State Bank of Pakistan (SBP) has released the foreign exchange rates for customers on this Tuesday, based on the weighted average rates of commercial banks.

    (more…)
  • Attock Petroleum declares massive 277% growth in annual profit

    Attock Petroleum declares massive 277% growth in annual profit

    KARACHI: Attock Petroleum Limited on Tuesday declared massive growth of 277 per cent in profit after tax for the year ended June 30, 2022.

    The company announced net profit of Rs18.54 billion for the year ended June 30, 2022 as compared with annual profit of Rs4.92 billion in the preceding year.

    READ MORE: Attock Petroleum declares 208% growth in six-month profit

    The earning per share (EPS) of the company recorded at Rs186.23 from previous year’s at Rs49.43.

    The board of directors of the company in its meeting held on Tuesday, August 16, 2022 recommended a final cash dividend for the year ended June 30, 2022 per share i.e. 300 per cent. This is in addition to interim dividend already paid at Rs15 per share i.e. 150 per cent.

    The board further recommended to issue bonus shares in the proportion of one share for every four held i.e. 25 per cent. This is in addition to the interim bonus shares already issued at nil per cent.

    READ MORE: Attock Refinery warns complete shut down on lower uplifting

    According to the financial results, the net sales of the country surged to Rs370 billion during the year ended June 30, 2022 as compared with Rs188.64 billion in the preceding year.

    The cost of production also climbed up to Rs329.07 billion for the year under review as compared with Rs178.66 billion in the preceding year.

    READ MORE: Attock Petroleum posts 21 percent decline in after tax profit

    This brings the gross profit of the company at Rs41 billion for the year ended June 30, 2022 as compared with Rs9.98 billion in the previous year.

    Operating expenses of the country increased to Rs10.21 billion as compared with previous year’s Rs4.15 billion.

  • SBP allows export of US dollar: ECAP

    SBP allows export of US dollar: ECAP

    KARACHI: Exchange Companies Association of Pakistan (ECAP) on Tuesday said that the State Bank of Pakistan (SBP) has allowed export of dollar.

    “Today [August 16, 2022] the SBP issued a circular to allow export of dollar,” said Malik Bostan, Chairman, ECAP in a statement.

    READ MORE: Dollar falls for ten straight days against Pakistani Rupee; ends at Rs213.98

    In a recent meeting with SBP governor, the ECAP apprised that the exchange companies had requested public to deposit their dollar in cash as the foreign currency hit Rs245 in the open market.

    “We requested people to encash foreign currencies this will help in brining dollar value down to Rs185,” he added.

    Malik Bostan said people responded to the appeal and sell millions of dollars at the counters of exchange companies, which helped the country to avoid default.

    READ MORE: Dollar plummets to Rs215.49 against Pakistani Rupee on August 12, 2022

    ECAP chief apprised the SBP governor that banks were not buying cash dollars from exchange companies. “Due to this exchange companies were exporting dollars with prior SBP permission,” he added.

    He further added that this process takes five days for transferring the amount into exchange companies accounts. “This results in huge losses to exchange companies.”

    Bostan urged the SBP to allow one time export of US dollars as it had been already allowed in case of Saudi Riyal, UAE Dirham, UK Pound and Euro.

    READ MORE: Dollar continues to fall against PKR; ends at Rs218.88

    “The exchange companies capital will not stuck in case permission is granted,” he added.

    Once the SBP allows, the exchange companies will export dollars on daily basis and spread on buying and selling of dollar will also minimize.

    “On this demand, the SBP issued a circular in this regard,” Bostan said and urged ECAP members to buy dollars from public at lower margin and export dollars.

    READ MORE: Rupee jumps to Rs221.91 against dollar

  • Bitcoin to Pakistani Rupee on August 16, 2022

    Bitcoin to Pakistani Rupee on August 16, 2022

    KARACHI: The exchange rate of Bitcoin (BTC) in Pakistani Rupee (PKR) is Rs5,163,105.64 on August 16, 2022 at 10:05 AM Pakistan Standard Time (PST), in the open exchange market.

    (more…)
  • Ripple to Pakistani Rupee on August 16, 2022

    Ripple to Pakistani Rupee on August 16, 2022

    KARACHI: The exchange rate of Ripple (XRP) in Pakistani Rupee (PKR) is Rs79.59 on August 16, 2022 at 10:05 AM Pakistan Standard Time (PST), in the open exchange market.

    (more…)
  • Dogecoin to Pakistani Rupee on August 16, 2022

    Dogecoin to Pakistani Rupee on August 16, 2022

    KARACHI: The exchange rate of Dogecoin (DOGE) in Pakistani Rupee (PKR) is Rs16.67 on August 16, 2022 at 10:05 AM Pakistan Standard Time (PST), in the open exchange market.

    (more…)