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Budget 2018: Non-filers will not be able to purchase new cars

07:18 PM | 1 May, 2018
Budget 2018: Non-filers will not be able to purchase new cars
ISLAMABAD - The federal government, led by Pakistan Muslim League-Nawaz (PML-N), in its sixth and final budget presented in the lower house of the Parliament on Friday by the newly inducted Finance Minister Miftah Ismail.

The government has proposed many incentives for almost every sector of the country including automobile industry.

According to the new auto policy proposed in the budget, people will not be allowed to buy a new vehicle, local or imported, worth over Rs4 million, until they file income tax return.

The new step taken by the government is to encourage people/non-filers to file income tax returns, which will increase the revenue of the government.

The decision to put a ban on non-filers’ purchase of vehicles will not be welcomed by the auto-sector as it will highly affect their sales. The reason behind this is that major part of Pakistan’s population does not file tax returns.

The new decision proposed by the government will be discussed in the parliament and once finalized then non-filer will not be able to buy new cars.

Moreover, the government has also proposed the reduction of customs duty on import of firefighting vehicles from 30% to 10%.

The writer is a member of the staff. He can be accessed on Twitter @iamnozair


Pakistani rupee rate against US Dollar, Euro, Pound, Riyal - Check 14 April forex rates

Pakistani currency remains unchanged against US dollar and other currencies in open market on April 14, 2024.

US Dollar rate in Pakistan

On Sunday, the US dollar was being quoted at 277.5 for buying and 280.5 for selling.

Euro was quoted at 299.95 for buying and 302.9 for selling while British Pound stands at 349.5 for buying, and 353 for selling.

UAE Dirham AED was at 75.45 and Saudi Riyal's new rates was at 73.30. 

Today’s currency exchange rates in Pakistan - 14 April 2024

Source: Forex Association of Pakistan. (last update 08:00 AM)
Currency Symbol Buying Selling
US Dollar USD 277.5 280.5
Euro EUR 299.95 302.9
UK Pound Sterling GBP 349.5 353
U.A.E Dirham AED 75.45
Saudi Riyal SAR 73.3 74.05
Australian Dollar AUD 182.7 184.5
Bahrain Dinar BHD 739.38 747.38
Canadian Dollar CAD 204 206.2
China Yuan CNY 38.45 38.85
Danish Krone DKK 40.45 40.85
Hong Kong Dollar HKD 35.57 35.92
Indian Rupee INR 3.33 3.44
Japanese Yen JPY 1.86
Kuwaiti Dinar KWD 903.91 912.91
Malaysian Ringgit MYR 58.92 59.52
New Zealand Dollar NZD 167.63 169.63
Norwegians Krone NOK 25.38 25.68
Omani Riyal OMR 722.1 730.1
Qatari Riyal QAR 76.35 77.05
Singapore Dollar SGD 206 208
Swedish Korona SEK 25.72 26.02
Swiss Franc CHF 307.11 309.61
Thai Bhat THB 7.61 7.76


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