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New taxes introduced as PM Shehbaz announces 'tough' decisions to tackle economic crisis

10% super tax imposed on big industries, including cement, sectors and automobile

11:43 AM | 24 Jun, 2022
New taxes introduced as PM Shehbaz announces 'tough' decisions to tackle economic crisis

ISLAMABAD – Pakistan has imposed a 10 percent 'super tax' on large-scale industries and sectors to tackle the deepening economic crisis and save poor segment of society.

Prime Minister Shehbaz Sharif made the announcement while addressing the nation on tough decisions being taken by the incumbent coalition government to revive the $6 billion IMF loan programme.

The development comes days after Pakistan inked an agreement with IMF to jack up FBR’s tax collection target by Rs438 billion, increasing it from Rs7,004 billion to Rs7,442 billion for next fiscal year.

The premier announced that super tax or poverty alleviation tax will be imposed on automobile, cement, steel, sugar, oil and gas, fertilizer, banking industry, cigarette and other sectors.

He said that 1% tax will be imposed people earning Rs150 million per year, 2% on Rs200 million income, 3% on Rs250 million and 4% on Rs300 million income.

PM Shehbaz Sharif said that the first budget of the incumbent government will give an economic vision to the country.

He also urged affluent people of the society to spare a portion of their wealth to drive Pakistan out of the deepening economic crisis and help poor.

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US Dollar, Euro, Dirham, Pound, Riyal Rate in Pakistan Today - Currency Rates 23 July 2024

Pakistani currency rates against US Dollar and other currencies on July 23, 2024 (Tuesday) in open market.

USD to PKR Rate Today

US dollar was being quoted at 279.25 for buying and 280.70 for selling. Euro's buying rate remains stable at 354.5 and selling rate is 358.35.

British Pound rate is 354.75 for buying, and 358.25 for selling. UAE Dirham AED was at 76.4 and Saudi Riyal lowered to 73.60.

Currency Rates Today

Currency Symbol Buying Selling
US Dollar USD 279.15 280.85
Euro EUR 301.25 303.25
UK Pound Sterling GBP 354.75 358.25
U.A.E Dirham AED 76.40 77.15
Saudi Riyal SAR 73.60 74.32
Australian Dollar AUD 184.75 186.55
Bahrain Dinar BHD 741.15 749.15
Canadian Dollar CAD 203.50 205.50
China Yuan CNY 38.35 38.75
Danish Krone DKK 40.05 40.45
Hong Kong Dollar HKD 35.70 36.05
Indian Rupee INR 36.05 36.05
Japanese Yen JPY 1.91 1.99
Kuwaiti Dinar KWD 908.25 917.35
Malaysian Ringgit MYR 58.95 59.75
New Zealand Dollar NZD 169.24 171.24
Norwegians Krone NOK 26.04 26.34
Omani Riyal OMR 722.87 730.89
Qatari Riyal QAR 76.39 77.09
Singapore Dollar SGD 202.00 204.00
Swedish Korona SEK 26.40 26.70
Swiss Franc CHF 309.05 311.55
Thai Bhat THB 7.50 7.65

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