PSO okay with discontinuing fuel supply agreement with Pakistan Railway

08:18 PM | 10 Jul, 2021
PSO okay with discontinuing fuel supply agreement with Pakistan Railway

Reacting to the recent news report regarding Pakistan Railways’ consultant report, PSO spokesperson said “Pakistan State Oil has been fueling the national economy for the last 45 years, and has been catering to the POL requirements of Pakistan Railways (PR) for more than three decades, as both PSO and Pakistan Railways share the common goal of national progress and growth. In addition, PSO is the only OMC that uses PR for fuel transportation as well, since no other OMC has the capability, or willingness, to do that”.

Responding to a question regarding the recent news, he informed that PSO has always supported PR, both operationally and financially, in normal circumstances and in all national emergencies, at times at the cost of the company’s other commitments. Most recently during the ongoing Covid period, PSO continued to supply PR over and above its contractual obligations despite multiple payment defaults and delays. The company also doubled the credit limit extended to PR to Rs.3 billion during this difficult time. Such news coming from them therefore is disappointing. He added that both organizations have commercial and contractual obligations which can be reconsidered if required.

As regards the Tax matters mentioned by the PR, PSO’s stance is “all deductions that PSO makes are in full compliance to, and in accordance with, the relevant Federal and Provincial Tax laws and we ensure that we follow all Tax regulations that apply to our business. We have continued to maintain that PR can get the required Tax exemptions from the relevant authorities so that PSO can act accordingly”.

Commenting on reported consultant review by PR, he said that “it is encouraging that PR is looking at measures to reduce costs in their system, which will benefit the national exchequer. All commercial organizations try to ensure that they are as cost efficient as possible. This applies to both PR and PSO, and both organizations have a right to review all elements of their business with a view to increasing their profitability. Since PSO is also a national organization, we are equally obligated to review all our contracts and business relationships from time to time to ensure the best possible outcomes for PSO, and we will be conducting a similar critical review with regard to our multiple agreements with PR as well”.


Today's currency exchange rates in Pakistan - Dollar, Euro, Pound, Riyal rates on March 30, 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 30, 2023 (Thursday).

Source: Forex Association of Pakistan. (last update 09:00 AM)

Currency Symbol Buying Selling
US Dollar ‎USD 283.6 286.65
Euro EUR 305.5 308.5
UK Pound Sterling GBP 348 351.5
U.A.E Dirham AED 77 77.7
Saudi Riyal SAR 75.5 76.3
Australian Dollar AUD 187.5 189.9
Bahrain Dinar BHD 753.99 761.99
Canadian Dollar CAD 206 208.2
China Yuan CNY 41.25 41.65
Danish Krone DKK 41.26 41.51
Hong Kong Dollar HKD 36.11 36.46
Indian Rupee INR 3.45 3.56
Japanese Yen JPY 2.15 2.22
Kuwaiti Dinar KWD 925.67 934.67
Malaysian Ringgit MYR 62.85 63.45
New Zealand Dollar NZD 175.57 177.58
Norwegians Krone NOK 26.33 26.63
Omani Riyal OMR 736.34 744.35
Qatari Riyal ‎QAR 77.92 78.62
Singapore Dollar SGD 209.5 211.5
Swedish Korona SEK 26.5 26.8
Swiss Franc CHF 308.25 310.75
Thai Bhat THB 8.28 8.43

Today's gold rates in Pakistan – 31 March 2023

KARACHI - The price of a single tola of 24-karat gold in Pakistan is Rs 207,700 on Friday. The price of 10 grams of 24k gold was recorded at Rs178,070.   

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 207,700 PKR 2,470
Karachi PKR 207,700 PKR 2,470
Islamabad PKR 207,700 PKR 2,470
Peshawar PKR 207,700 PKR 2,470
Quetta PKR 207,700 PKR 2,470
Sialkot PKR 207,700 PKR 2,470
Attock PKR 207,700 PKR 2,470
Gujranwala PKR 207,700 PKR 2,470
Jehlum PKR 207,700 PKR 2,470
Multan PKR 207,700 PKR 2,470
Bahawalpur PKR 207,700 PKR 2,470
Gujrat PKR 207,700 PKR 2,470
Nawabshah PKR 207,700 PKR 2,470
Chakwal PKR 207,700 PKR 2,470
Hyderabad PKR 207,700 PKR 2,470
Nowshehra PKR 207,700 PKR 2,470
Sargodha PKR 207,700 PKR 2,470
Faisalabad PKR 207,700 PKR 2,470


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