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Pakistan likely to reduce duty on mobile phones in budget 2023-24

12:46 PM | 29 May, 2023
Pakistan likely to reduce duty on mobile phones in budget 2023-24
Source: File Photo

ISLAMABAD – The federal government is expected to reduce the duty on mobile phones in the upcoming budget for the fiscal year 2023-24 in line with the recommendations made by the Pakistan Mobile Phone Traders.

Previously, the government raised the duty on small and big mobile phones by 100% to 150%, and resultantly, it could collect only Rs5 billion to Rs10 billion instead of Rs85 billion.

Reports said the Federal Board of Revenue (FBR) is mulling the options in this regard while the traders’ body has also submitted their recommendations to Finance Minister Ishaq Dar. 

Traders were of the view that the heavy taxation had served massive blows to the mobile phones business, adding that the small businesses suffered most due to it as their owner are even unable to earn the livelihood. 

It has been learnt that a 75% duty was imposed on cellular phones in Pakistan as compared to other countries of the region like Singapore, Bangladesh and Turkey where it is not at that level. That is the reason people are using smartphones without paying duties in connivance with FBR, reported Geo News. 

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Today's currency exchange rates in Pakistan - Dollar, Euro, Pound, Riyal rates on October 4, 2023

KARACHI - Following are the foreign currency exchange rates for US Dollar, Saudi Riyal, UK Pound Sterling, U.A.E. Dirham, European Euro, and other foreign currencies in Pakistan open market on October 4, 2023 (Wednesday).

Source: Forex Association of Pakistan. (last update 09:00 AM)

Currency Symbol Buying Selling
US Dollar ‎USD 283.5 286.45
Euro EUR 302 305
UK Pound Sterling GBP 351.5 355
U.A.E Dirham AED 78.7 79.5
Saudi Riyal SAR 75.45 76.2
Australian Dollar AUD 180.2 182
Bahrain Dinar BHD 766 774
Canadian Dollar CAD 210 212
China Yuan CNY 39.62 40.02
Danish Krone DKK 40.55 40.95
Hong Kong Dollar HKD 36.74 37.09
Indian Rupee INR 3.46 3.57
Japanese Yen JPY 1.63 1.71
Kuwaiti Dinar KWD 931.36 940.36
Malaysian Ringgit MYR 61.27 61.87
New Zealand Dollar NZD 171.55 173.55
Norwegians Krone NOK 26.92 27.22
Omani Riyal OMR 748.35 756.35
Qatari Riyal ‎QAR 79.03 79.73
Singapore Dollar SGD 206 208
Swedish Korona SEK 26.34 26.64
Swiss Franc CHF 313.85 316.35
Thai Bhat THB 7.79 7.94

Gold Rate in Pakistan Today – October 4, 2023

Today Gold Rate in Pakistan

KARACHI - The price of a single tola of 24-karat gold in Pakistan is Rs 201,100 on Wednesday.

The price of 10 grams of 24k gold was recorded at Rs 172,410.

Likewise, 10 grams of 22k gold were being traded for Rs168,730 while a single tola of 22-karat gold was being sold at Rs196,807.

Note: The gold rate in Pakistan is fluctuating according to the international market so the price is never been fixed. The below rates are provided by local gold markets and Sarafa Markets of different cities.

Today Gold Price in Pakistan - 4 October 2023

City Gold Silver
Lahore PKR 201,100 PKR 2,300
Karachi PKR 201,100 PKR 2,300
Islamabad PKR 201,100 PKR 2,300
Peshawar PKR 201,100 PKR 2,300
Quetta PKR 201,100 PKR 2,300
Sialkot PKR 201,100 PKR 2,300
Attock PKR 201,100 PKR 2,300
Gujranwala PKR 201,100 PKR 2,300
Jehlum PKR 201,100 PKR 2,300
Multan PKR 201,100 PKR 2,300
Bahawalpur PKR 201,100 PKR 2,300
Gujrat PKR 201,100 PKR 2,300
Nawabshah PKR 201,100 PKR 2,300
Chakwal PKR 201,100 PKR 2,300
Hyderabad PKR 201,100 PKR 2,300
Nowshehra PKR 201,100 PKR 2,300
Sargodha PKR 201,100 PKR 2,300
Faisalabad PKR 201,100 PKR 2,300
Mirpur PKR 201,100 PKR 2,300

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