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Lahore Orange Line Metro Train exempted from Rs 20 billion tax

09:47 AM | 7 Jan, 2017
Lahore Orange Line Metro Train exempted from Rs 20 billion tax
ISLAMABAD - The Economic Coordination Committee (ECC) of the Cabinet Friday approved tax exemptions worth Rs20 billion to Punjab government’s Lahore Orange Line Metro Train Project.

The decision came after the provincial government sought a reduction in withholding tax payments and complete exemptions from sales tax and customs duty.

The summary to this effect was sent to ECC by the Planning, Development and Reform Division.
According to a statement by the ministry of finance, Finance Minister Ishaq Dar chaired the ECC meeting at the Prime Minister’s Office.

The ECC also decided that a similar dispensation would also be extended to the other rail-based mass transit projects in Karachi, Peshawar and Quetta at the appropriate time.

The ECC was informed that the Lahore Orange Line Metro Train Project has been made a part of the China-Pakistan Economic Corridor (CPEC) along with rail-based mass transit projects in other provincial capitals at the recently concluded 6th Joint Cooperation Committee (JCC) meeting held in Beijing, China.

The writer is a civil servant.

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PKR rate against US Dollar, Euro, Pound, Riyal - Check 16 April forex rates

Pakistani currency gains momentum against all currencies on April 16, 2024 Tuesday. US dollar was being quoted at 277.9 for buying and 280.85 for selling.

Euro was quoted at 295 for buying and 298 for selling while British Pound stands at 345 for buying, and 349 for selling.

UAE Dirham AED was at 75.4 and Saudi Riyal's new rates was at 73.30. 

Today’s currency exchange rates in Pakistan - 15 April 2024

Currency Symbol Buying Selling
US Dollar USD 277.9 280.85
Euro EUR 295 298
UK Pound Sterling GBP 345 349
U.A.E Dirham AED 75.45 76.2
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 1.94
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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