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President Secretariat saves Rs224m through austerity measures

05:26 PM | 16 May, 2019
President Secretariat saves Rs224m through austerity measures
ISLAMABAD - An amount of Rs 224 million has been saved by the President Secretariat since the incumbent Government took over, as part of the drive to slash expenses by adopting austerity measures.

This has been done under the directions of President Dr Arif Alvi to reduce expenses without affecting the efficiency of operations and quality of service delivery, said a press release issued by the President House on Thursday.

The projected expenditure for the financial year 2018-19 is 6.1% less against the allocated budget, as opposed to the previous financial years that consistently suffered budget deficits.

Direct and Indirect Savings were made. In the context of Indirect Savings, now routine PAF maintenance flights transport the security staff of the President, instead of dedicated C-130.

Likewise, President’s national and international travel through commercial flights and substantial reduction in visiting entourage has contributed towards a saving of Rs. 112.7 million. Moreover, Presidency has been opened for all Ministries to hold their mega events in Aiwan-e-Sadr instead of 5-Star hotels, which has saved the relevant ministries about Rs10.2 million.

Similarly, inefficient and exorbitant energy usage is being also cut by conducting comprehensive energy audit. Additionally, the travel entourage of the President has been reduced from 36 to 16 officers/officials, saving Rs.5.8 million.

Lastly, Presidency is employing less people than sanctioned posts and has thus saved about Rs. 38.4 million.

If the impact of these austerity measures are analyzed head wise, in Pays and Allowances, Rs. 38 million have been saved by not enrolling fresh intake against the vacant posts.

Under Conveyance and Motor Cars, 10.1% budget has been surrendered, in addition to 20% of Telephone and Internet budget. In this regard, vintage vehicles have been processed for auction, which will cut their maintenance cost.

Moreover, 5% of Utilities, 41.1% of Misc. Capital Assets, Printing & Stationary, Postage etc, and 80% of Discretionary Grants funds have been surrendered to the Government of Pakistan. In other words, austerity measures have been applied to all heads to utilize all possibilities of saving.

Associated Press of Pakistan Corporation (APPC) - Pakistan's Premier News Agency

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Rupee exchange rate to US Dollar, Euro, Pound, Dirham, and Riyal - 18 April 2024

Pakistani currency continues to gain against US Dollar and other currencies on April 18, 2024. US dollar was being quoted at 277.2 for buying and 280.3 for selling.

Euro comes down to 293 for buying and 296 for selling while British Pound stands at 342.25 for buying, and 345.65 for selling.

UAE Dirham AED was at 75.25 and Saudi Riyal's new rates was at 73.30. 

Today’s currency exchange rates in Pakistan - 18 April 2024

Currency Symbol Buying Selling
US Dollar USD 277.2 280.3
Euro EUR 293 296
UK Pound Sterling GBP 342.25  345.65 
U.A.E Dirham AED 75.25  75.95
Saudi Riyal SAR 73.3 74.05
Australian Dollar AUD 181 182.8
Bahrain Dinar BHD 739.63 747.63
Canadian Dollar CAD 201 203
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 3.32 3.43
Japanese Yen JPY 1.86 1.94
Kuwaiti Dinar KWD 902.26 912.91
Malaysian Ringgit MYR 58.24 59.52
New Zealand Dollar NZD 164.75 169.63
Norwegians Krone NOK 25.42 25.68
Omani Riyal OMR 722.1 730.1
Qatari Riyal QAR 76.37 77.05
Singapore Dollar SGD 206 208
Swedish Korona SEK 25.72 26.02
Swiss Franc CHF 307.11 309.61
Thai Bhat THB 7.56 7.76

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