In the inter-bank market on Thursday, the Pakistani rupee appreciated by 0.02% against the US dollar, settling at 281.67 after an increase of Re0.05, according to the State Bank of Pakistan (SBP).
The previous day, the rupee had closed at 281.72 against the US dollar.
Additionally, the Federal Board of Revenue (FBR) has finalized a scheme to impose taxes on retailers in the country. Initially, the tax will be imposed on retailers in four provincial capitals, with expected revenue of approximately Rs100 billion. The FBR is also waiting for approval from the caretaker government to impose tax on retailers across Pakistan, which is estimated to add Rs300 billion in revenue to the national kitty through the taxation of 3.5 million retailers across the country.