ISLAMABAD – The Pakistani travelers might be facing serious trouble very soon as 15% tax on airline tickets has been proposed.
The proposal to tax travelers comes as Pakistan struggles to increase its revenue to seek assistance from the International Monetary Fund (IMF).
The airline tickets for Pakistani tourists are already expensive considering the devaluation of currency against Dollar as well as rising fuel prices; however, the situation seems to exacerbate in days to come considering the 15 percent tax in the works.
Pakistan currently faces a balance of payment crisis and is trying to seek some lending from the IMF to shore up its economy. The foreign exchange reserves have plummeted in the last year to below $5 billion in what appears to be worrisome for decision makers.
The IMF team is in Pakistan currently to finalise a deal at the moment; a recent hike in fuel prices has also been done to increase the revenue with another hike expected to be announced soon.
Pakistani tourists - who select Turkey as a honeymoon destination - might be deprived of their travel pleasure soon if the proposed tax is imposed, however, a final decision in this regard would be made soon.
KARACHI - Following are the foreign currency exchange rates for US Dollar, Saudi Riyal, UK Pound Sterling, U.A.E. Dirham, European Euro, and other foreign currencies in Pakistan open market on March 24, 2023 (Friday).
Source: Forex Association of Pakistan. (last update 09:00 AM)
|UK Pound Sterling||GBP||343.5||347|
|Hong Kong Dollar||HKD||35.92||36.27|
|New Zealand Dollar||NZD||176.66||178.66|
KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs 205,500 on Friday. The price of 10 grams of 24k gold was recorded at Rs174,730.
Likewise, 10 grams of 22k gold were being traded for Rs163,624 while a single tola of 22-karat gold was being sold at Rs 190,880.
Note: The gold rate in Pakistan is fluctuating according to the international market so the price is never been fixed. The below rates are provided by local gold markets and Sarafa Markets of different cities.
|Lahore||PKR 205,500||PKR 2,350|
|Karachi||PKR 205,500||PKR 2,350|
|Islamabad||PKR 205,500||PKR 2,350|
|Peshawar||PKR 205,500||PKR 2,350|
|Quetta||PKR 205,500||PKR 2,350|
|Sialkot||PKR 205,500||PKR 2,350|
|Attock||PKR 205,500||PKR 2,350|
|Gujranwala||PKR 205,500||PKR 2,350|
|Jehlum||PKR 205,500||PKR 2,350|
|Multan||PKR 205,500||PKR 2,350|
|Bahawalpur||PKR 205,500||PKR 2,350|
|Gujrat||PKR 205,500||PKR 2,350|
|Nawabshah||PKR 205,500||PKR 2,350|
|Chakwal||PKR 205,500||PKR 2,350|
|Hyderabad||PKR 205,500||PKR 2,350|
|Nowshehra||PKR 205,500||PKR 2,350|
|Sargodha||PKR 205,500||PKR 2,350|
|Faisalabad||PKR 205,500||PKR 2,350|
|Mirpur||PKR 205,500||PKR 2,350|
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