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Petroleum dealers warn of countrywide strike over low profit 

10:48 AM | 4 Jul, 2022
Petroleum dealers warn of countrywide strike over low profit 
Source: File Photo

LAHORE – Petroleum Dealers Association has warned of shutting down filling stations across the country from July 18 if the government fails to increase the profit rate by 4 percent. 

Abdul Sami Khan, a spokesperson of the association, said that recent surge in petroleum prices brought them loss instead of profit, complaining that the government representatives were not ready to listen to their concerns. 

He said that the investment being made by petroleum dealers has increased due to rise in prices, adding that banks have jacked up the interest rate to 13%, which is adding to their woes. 

The spokesperson said that the PTI government had also promised to increase the profit rate but no action was taken.

Khan said that they will launch the strike if the Ministry of Petroleum does not increase the profit rate within a week. 

Pressure from dealers continues to mount on the association and there is a need to take a decision, he said. 

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Rupee exchange rate to US Dollar, Euro, Pound, Dirham, and Riyal - 25 Feb 2024 forex rates

Pakistani rupee remains stable against US dollar in the open market on February 25, 2024 (Sunday).

US Dollar rate in Pakistan

In the open market, the US dollar was being quoted at 279.5 for buying and 282.55 for selling.

Euro currently stands at 302 for buying and 305 for selling while British Pound rate stands at 352.5 for buying, and 356 for selling.

UAE Dirham AED hovers at 76.1 whereas the Saudi Riyal saw slight increase, with new rates at 74.35.

Today’s currency exchange rates in Pakistan - 25 Feb 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 279.5 282.55
Euro EUR 302 305
UK Pound Sterling GBP 352.5 356
U.A.E Dirham AED 76.1 76.8
Saudi Riyal SAR 74.35 75.1
Australian Dollar AUD 181 183
Bahrain Dinar BHD 743.88 751.88
Canadian Dollar CAD 207 209
China Yuan CNY 38.89 39.29
Danish Krone DKK 40.38 40.78
Hong Kong Dollar HKD 35.76 36.11
Indian Rupee INR 3.37 3.48
Japanese Yen JPY 2.10 2.18
Kuwaiti Dinar KWD 908.79 917.79
Malaysian Ringgit MYR 58.6 59.2
New Zealand Dollar NZD 171.68 173.68
Norwegians Krone NOK 26.43 26.73
Omani Riyal OMR 726.53 734.53
Qatari Riyal QAR 76.76 77.46
Singapore Dollar SGD 207 209
Swedish Korona SEK 26.53 26.83
Swiss Franc CHF 317.87 320.37
Thai Bhat THB 7.79 7.94

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