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The Cabinet of Pakistan had chosen to do this "in order to make maximum use of daylight and to save energy." [ 1 ] In 2008, DST began on June 1, and was initially set to run through August 31 to meet the annual shortfall of 4 gigawatts of electricity rather than enforcing daily power cuts in households and factories.
1 Table of Monetary Policy framework. ... 4.1 US dollar as exchange rate anchor. ... Pakistan ; Free floating (33)
Pakistan has experimented with Daylight Saving Time (DST) a number of times since 2002, shifting local time from UTC+05:00 to UTC+06:00 during various summer periods. Daylight saving time in Pakistan has not been observed since 2009.
On 15 September 1951, following the findings of mathematician Mahmood Anwar, two time zones were introduced. Karachi Time (KART) was introduced in West Pakistan by subtracting 30 minutes from 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 Karachi Interbank Offered Rate (KIBOR) is a daily reference rate based on the interest rates at which banks offer to lend unsecured funds to other banks in the Karachi wholesale (or "interbank") money market. [1]
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.
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This is a list of tables showing the historical timeline of the exchange rate for the Indian rupee (INR) against the special drawing rights unit (SDR), United States dollar (USD), pound sterling (GBP), Deutsche mark (DM), euro (EUR) and Japanese yen (JPY). The rupee was worth one shilling and sixpence in sterling in 1947.