Servis Tyres commits to further Rs30bn investment to boost exports in Pakistan

08:38 PM | 14 May, 2024
Servis Tyres commits to further Rs30bn investment to boost exports in Pakistan

ISLAMABAD—Chairman Jin Yongsheng and CEO Omar Saeed called on Prime Minister Shehbaz Sharif to express their gratitude for the government's support of the tyre industry. 

“Service Long March (SLM) Tyres has committed a further investment of Rs30 billion to double its capacity and to increase exports to $100 million in 2025,” the company said in a statement on Tuesday.

“SLM has also shown intent to invest a further amount of Rs30 billion to start a new project exporting specialised tyres from Pakistan to EU and USA,” it added.

PM Shehbaz Sharif promised continued support from all departments and instructed relevant ministries to help export-led growth in the country.

The meeting was attended by the Finance Minister, Commerce Minister, Minister for Privatisation and Investment, Information Minister, Secretary to PM, Secretary Commerce and Secretary BOI.

Daily Pakistan Global Web Desk


Currency Rates in Pakistan - PKR to US Dollar, Euro, Dirham, Riyal 18 June 2024

Pakistani rupee rates against US Dollar and other currencies on June 18, 2024 (Tuesday) in open market.

USD to PKR Rate Today

US dollar was being quoted at 277.50 for buying and 280.65 for selling.

Euro's buying rate stands at 296 and selling rate is 299 while British Pound rate is 349.7 for buying, and 353.25 for selling.

UAE Dirham AED was at 74.80 and Saudi Riyal at 72.80.

Currency Symbol Buying Selling
US Dollar USD 277.50 280.65
Euro EUR 296.00 299.00
UK Pound Sterling GBP 349.70 353.25
U.A.E Dirham AED 74.80 75.60
Saudi Riyal SAR 72.80 73.55
Australian Dollar AUD 182.00 184.00
Bahrain Dinar BHD 741.18 749.18
Canadian Dollar CAD 204.00 206.00
China Yuan CNY 38.43 38.83
Danish Krone DKK 40.18 40.58
Hong Kong Dollar HKD 35.66 36.01
Indian Rupee INR 3.33 3.44
Japanese Yen JPY 1.90 1.98
Kuwaiti Dinar KWD 909.34 909.34
Malaysian Ringgit MYR 59.30 59.90
New Zealand Dollar NZD 170.79 172.79
Norwegians Krone NOK 25.97 26.27
Omani Riyal OMR 723.88 731.88
Qatari Riyal QAR 76.42 77.12
Singapore Dollar SGD 203.65 205.65
Swedish Korona SEK 26.40 26.70
Swiss Franc CHF 311.90 314.40
Thai Bhat THB 7.58 7.73


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