LAHORE - All-Pakistan Union of Pan Cigarette Beverage Retailers has expressed concern over the government's unprecedented increase in the FED rate on locally produced cigarettes.
This increase is now seen as a threat to the employment of pan cigarette vendors. The retailers demand an immediate solution to the serious impact on their business due to the high cost of legal cigarettes.
A protest was held outside the Lahore Press Club, where a large number of pan-cigarette vendors participated. The protesters carried placards and raised slogans, demanding that the government revise the tax rate on legal cigarettes, which has led to increased demand for illegal cigarettes.
The protest was led by Haji Muhammad Mubeen Yusuf Butt, President of the All-Pakistan Union of Pan Cigarette Beverage Retailers.
Addressing the protesters, Haji Muhammad Mubeen Yusuf Butt stated that the federal government has increased the federal excise duty on cigarettes by 250%, by which a tax of Rs 400 is imposed on a pack of Rs 80.
Due to this, the sale of legal cigarettes has been reduced by 50%. Consumers who are already suffering from inflation are demanding cheap cigarettes, mostly illegal. Selling illegal cigarettes will put shopkeepers in legal trouble, and limiting themselves to selling legal cigarettes will affect their livelihoods.
He further added that the situation has put over 0.7 million pan cigarette retailers across the country in crisis, affecting the livelihood and lives of 5 million people.
Despite informing Prime Minister Shahbaz Sharif and other relevant personalities about the situation through several letters, the government has not paid any attention to this issue.
He demanded that the government immediately convene a consultative meeting with the retailers to find a solution to the problem. Otherwise, the result will be the starvation of five million people.
KARACHI – The Pakistani rupee continued its positive trajectory against the US dollar in the interbank market on Thursday with the local currency’s recovery relating to crackdown launched against hoarders and outflows of the foreign currency through unlawful means.
During the intraday trading, PKR moved up against the USD, and hovered at 287.73, with an increase of Rs1.04, in the interbank market.
Yesterday, the Pakistani rupee appreciated 0.36pc to settle at 288.75.
Last week, the government said a crackdown to prevent cross-border smuggling was initiated across Pakistan. The country’s central bank also stepped up supervision of the foreign exchange market, ordering banks to set up separate entities to conduct forex transactions.
The SBP also introduced structural reforms in the exchange companies’ sector to provide better services and to ensure a transparent system.
KARACHI - The price of a single tola of 24-karat gold in Pakistan is Rs 202,600 on Thursday.
The price of 10 grams of 24k gold was recorded at Rs 177,700. Likewise, 10 grams of 22k gold were being traded for Rs168,730 while a single tola of 22-karat gold was being sold at Rs196,807.
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 202,600||PKR 2,495|
|Karachi||PKR 202,600||PKR 2,495|
|Islamabad||PKR 202,600||PKR 2,495|
|Peshawar||PKR 202,600||PKR 2,495|
|Quetta||PKR 202,600||PKR 2,495|
|Sialkot||PKR 202,600||PKR 2,495|
|Attock||PKR 202,600||PKR 2,495|
|Gujranwala||PKR 202,600||PKR 2,495|
|Jehlum||PKR 202,600||PKR 2,495|
|Multan||PKR 202,600||PKR 2,495|
|Bahawalpur||PKR 202,600||PKR 2,495|
|Gujrat||PKR 202,600||PKR 2,495|
|Nawabshah||PKR 202,600||PKR 2,495|
|Chakwal||PKR 202,600||PKR 2,495|
|Hyderabad||PKR 202,600||PKR 2,495|
|Nowshehra||PKR 202,600||PKR 2,495|
|Sargodha||PKR 202,600||PKR 2,495|
|Faisalabad||PKR 202,600||PKR 2,495|
|Mirpur||PKR 202,600||PKR 2,495|