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Tarin hints at petroleum price hike throughout next FY

11:07 AM | 12 Jun, 2021
Tarin hints at petroleum price hike throughout next FY

ISLAMABAD – Finance Minister Shaukat Tarin revealed an increase in the prices of petroleum products as authorities increased the petroleum levy target from Rs450 billion to Rs610 billion in the Budget 2021-22.

Tarin, soon after the budget speech, disclosed that they have to increase the prices of petroleum and it will keep increasing on an interval basis for the whole year.

Speaking in a private news channel, he revealed that talks with the International Monetary Fund (IMF) continue over the stabilisation of revenue collection.

Rs5 per litre levy was being charged but in the next Fiscal Year, it will have to be set between Rs20 to Rs25 per litre.

Responding to a query, the former banker said Pakistan will not exit from the IMF programme, adding that the authorities had asked Pakistan to present its budget so negotiations will continue.

He also clarified that they had conveyed to the international organization that it should not be their problem on how the Federal Board of Revenue meets the set revenue collection target of Rs5.829 trillion. Tarin also revealed an impasse between the two sides over different issues, including fixation of petroleum levy, FBR’s tax collection target and assessment of elimination of tax exemption.

Daily Pakistan Global Web Desk

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Pakistani rupee exchange rate against US dollar, Euro, Pound and Riyal - 22 February 2024

Pakistani rupee remains stable against US dollar and other currencies in the open market on February 22, 2024 (Thursday)

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 300.2 for buying and 303.2 for selling while British Pound rate stands at 350.6 for buying, and 354.1 for selling.

UAE Dirham AED hovers at 76.2 whereas the Saudi Riyal saw slight increase, with new rates at 74.45.

Today’s currency exchange rates in Pakistan - 22 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 300.2 303.2
UK Pound Sterling GBP 350.6 354.1
U.A.E Dirham AED 76.2 76.95
Saudi Riyal SAR 74.45 75.2
Australian Dollar AUD 181.15 183.15
Bahrain Dinar BHD 743.32 751.32
Canadian Dollar CAD 207.15 209.15
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 207.1 209.1
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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