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SBP appoints BOP its agent for collecting receipts, taxes of Punjab

08:10 PM | 11 Apr, 2016
SBP appoints BOP its agent for collecting receipts, taxes of Punjab
KARACHI (Web Desk/APP):- State Bank of Pakistan (SBP) has appointed Bank of Punjab (BOP) as its agent for collecting provincial receipts and taxes of Government of Punjab (GoP).

The signing ceremony held here on Monday, said SBP statement. The appointment is a part of SBP's strategy to facilitate the Federal and Provincial Governments in improving their tax collection system.

This would diversify tax payment options for the tax payers, introduce much needed competition in Governments' tax collection business and thus will improve the service quality of banks engaged in government tax collection business.

Speaking on the occasion, SBP's Executive Director, Syed Irfan Ali said that State Bank, being banker to the Federal and Provincial Governments, was fully committed to provide efficient, competitive and state-of-the-art banking services to the governments either by itself or through its agencies across the country.

He expressed his optimism that inclusion of BOP will give a boost to the provincial government's efforts to facilitate tax payers in payment of government dues and taxes.

He said, based on the experience of BOP, similar arrangements would be made with other provincial governments to collect their taxes through banks of their choice.

BOP's President Naeemuddin Khan thanked SBP and Federal Government for posing confidence for collecting the Punjab Government taxes.

He said that the agency agreement with SBP was a major milestone achieved and assured that the customer facilitation and convenience will be the hallmark of the BOP's agency business, which would set new standards for the industry to follow.

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PKR exchange rate to US dollar, Euro, Pound, Dirham, and Riyal - 21 Feb 2024

Pakistani currency remains stable against US dollar and other currencies in the open market on February 21, 2024 (Wednesday).

US Dollar rate in Pakistan

In the open market, the US dollar was being quoted at 279.6 for buying and 282.4 for selling.

Euro comes down to 300 for buying and 303 for selling while British Pound rate stands at 350.5 for buying, and 354 for selling.

UAE Dirham AED hovers at 76.15 whereas the Saudi Riyal saw slight increase, with new rates at 74.35.

Today’s currency exchange rates in Pakistan - 21 Feb 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 279.6 282.4
Euro EUR 300 303
UK Pound Sterling GBP 350.5 354
U.A.E Dirham AED 76.15 76.9
Saudi Riyal SAR 74.35 75.1
Australian Dollar AUD 181 183
Bahrain Dinar BHD 743.32 751.32
Canadian Dollar CAD 207 209
China Yuan CNY 38.89 39.29
Danish Krone DKK 40.38 40.78
Hong Kong Dollar HKD 35.74 36.09
Indian Rupee INR 3.37 3.48
Japanese Yen JPY 2.10 2.18
Kuwaiti Dinar KWD 902.41 911.41
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 725.96 733.96
Qatari Riyal QAR 76.76 77.46
Singapore Dollar SGD 207 209
Swedish Korona SEK 26.53 26.83
Swiss Franc CHF 316.9 319.4
Thai Bhat THB 7.93 8.08

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