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15% tax on airline tickets proposed as Pakistan eyes IMF deal

Web Desk 07:26 PM | 4 Feb, 2023
15% tax on airline tickets proposed as Pakistan eyes IMF deal
Source: Image by StockSnap from Pixabay

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.

Web Desk
Web Desk

Daily Pakistan Global Web Desk

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Today's currency exchange rates in Pakistan - Dollar, Euro, Pound, Riyal rates on March 24, 2023

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)

Currency Symbol Buying Selling
US Dollar ‎USD 283.2 286
Euro EUR 302.5 305.5
UK Pound Sterling GBP 343.5 347
U.A.E Dirham AED 77.2 78
Saudi Riyal SAR 75.4 76.2
Australian Dollar AUD 187 189.4
Bahrain Dinar BHD 749.55 757.55
Canadian Dollar CAD 205 207.2
China Yuan CNY 40.91 41.31
Danish Krone DKK 40.77 41.17
Hong Kong Dollar HKD 35.92 36.27
Indian Rupee INR 3.41 3.52
Japanese Yen JPY 2.06 2.11
Kuwaiti Dinar KWD 919.22 928.22
Malaysian Ringgit MYR 62.85 63.45
New Zealand Dollar NZD 176.66 178.66
Norwegians Krone NOK 26.33 26.63
Omani Riyal OMR 731.97 739.97
Qatari Riyal ‎QAR 77.43 78.13
Singapore Dollar SGD 208 210
Swedish Korona SEK 26.5 26.8
Swiss Franc CHF 305.12 307.62
Thai Bhat THB 8.19 8.34

Today's gold rates in Pakistan – 24 March 2023

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.

City Gold Silver
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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