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Pakistan Mint. Valuation. Inflation. 11.8% (May 2024) The Pakistani rupee ( ISO code: PKR) is the official currency in the Islamic Republic of Pakistan. The issuance of the currency is controlled by the State Bank of Pakistan. It was officially adopted by the Government of Pakistan in 1949.
In terms of time usage, both the 24-hour clock and 12-hour clock are widely used in the country. The 12-hour notation is widely used in daily life, written communication, and is used in spoken language. The 24-hour notation is used in situations where there would be widespread ambiguity. Examples include railway timetables, plane departure and ...
The economy of Pakistan is categorized as a developing economy. It ranks as the 24th-largest based on GDP using purchasing power parity (PPP) and the 46th largest in terms of nominal GDP. With a population of 241.5 million people as of 2023, Pakistan's position at per capita income ranks 161st by GDP (nominal) and 138th by GDP (PPP) according ...
Time value of money. The present value of $1,000, 100 years into the future. Curves represent constant discount rates of 2%, 3%, 5%, and 7%. The time value of money is the widely accepted conjecture that there is greater benefit to receiving a sum of money now rather than an identical sum later. It may be seen as an implication of the later ...
ISO 8601. International standard ISO 8601 ( Representation of dates and times) defines unambiguous written all-numeric big-endian formats for dates, such as 2022-12-31 for 31 December 2022, and time, such as 23:59:58 for 23 hours, 59 minutes, and 58 seconds. These standard notations have been adopted by many countries as a national standard, e ...
Since 2002, Pakistan has implemented Daylight Saving Time (DST) multiple times, adjusting local time from UTC+05:00 to UTC+06:00 during different summer periods. In 2002, DST was observed from the first Sunday in April (April 7) at 00:00 to the first Sunday in October (October 6) at 00:00. The Cabinet of Pakistan had chosen to do this "in order ...
Karachi Time (KART) was introduced in West Pakistan by adjusting 30 minutes off UTC+05:30 to UTC+05:00, while Dacca Time (DACT) was introduced in East Pakistan by subtracting 30 minutes off UTC+06:30 to UTC+06:00. The changes were made effective on 30, September 1951. [1] In 1971, Karachi Time was renamed to Pakistan Standard Time.
Pakistan holidays are celebrated according to the Islamic or local Pakistani calendars for religious and civil purposes, respectively. Religious holidays such as Eid are celebrated according to the Islamic calendar whereas other national holidays such as International Workers' Day, [1] Pakistan Day, and Quaid-i-Azam Day are celebrated according to the Gregorian calendar.