logo
NA body reviews PR PSDP budget for FY 2025-26

NA body reviews PR PSDP budget for FY 2025-26

Express Tribune04-03-2025
The National Assembly Standing Committee on Railways on Tuesday scrutinized the budgetary proposals related to the Public Sector Development Programme (PSDP) for the Ministry of Railways and its attached departments for the Financial Year 2025-26.
MNA Rai Hassan Nawaz Khan chaired the committee meeting.
The secretary, Ministry of Railways, informed the committee that the ministry had requested Rs65 billion from the PSDP last year. However, the Finance Division approved Rs45 billion, which was subsequently reduced to Rs35 billion.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Petrol price cut by Rs7.54, HSD's up by Rs1.48
Petrol price cut by Rs7.54, HSD's up by Rs1.48

Business Recorder

timea day ago

  • Business Recorder

Petrol price cut by Rs7.54, HSD's up by Rs1.48

ISLAMABAD: Federal government announced Rs 1.48 per litre increase in high-speed diesel (HSD) prices, despite the premium on HSD remaining stable at $3.20 per barrel. However, there is a significant relief for petrol consumers as the ex-depot petrol price has reduced by Rs 7.54 per litre, driven by a decrease of approximately $3 per barrel in global prices. The decision has been taken in fortnightly review with effect from August 1, 2025. The new price of HSD has been increased from Rs 284.35 to Rs 285.83 per litre and petrol price has come down from Rs 272.15 to Rs 264.61 per litre. Finance Division stated, 'Following a review of prevailing international market trends and upon the recommendations of OGRA and relevant ministries, the government has revised the prices of petroleum products for the next fortnight'. In the previous fortnight, the price of petrol increased by Rs5.36 per litre, while the price of HSD rose by Rs11.37 per litre. Copyright Business Recorder, 2025

Development of first indigenous Large Language Model: Senate body questions selection process of partners
Development of first indigenous Large Language Model: Senate body questions selection process of partners

Business Recorder

timea day ago

  • Business Recorder

Development of first indigenous Large Language Model: Senate body questions selection process of partners

ISLAMABAD: The Senate Standing Committee on Information Technology and Telecommunication has raised serious concerns over the Ministry of IT's collaboration with telecom giant Jazz and NUST University on the development of Pakistan's first indigenous Large Language Model (LLM), questioning the transparency and selection process of project partners. Chairperson Senator Palwasha Khan and members called for greater inclusivity and competitive bidding in national tech initiatives, stressing that such opportunities should be publicly advertised. During the committee's meeting at Parliament House, chaired by Senator Palwasha, the Ministry of IT disclosed that Jazz and NUST were not officially selected but had independently initiated the LLM project without any public funding. Senator Dr Mohammad Humayun Mohmand and other members voiced their dissatisfaction, questioning why other capable institutions and telecom operators were not invited to participate. The IT secretary stated that a memorandum of understanding (MoU) exists between the ministry and Jazz, but confirmed that no formal tender or public announcement was made. In response to these concerns, he acknowledged the need for open invitations and assured that other universities are now being encouraged to express interest in contributing to the AI ecosystem. Jazz representatives highlighted that the LLM project is aimed at preserving Pakistan's native languages, which face the threat of extinction. They cited data collection as a major hurdle and mentioned ongoing meetings with various ministries to support the initiative. The meeting also focused on the broader regulatory landscape for AI in Pakistan, with detailed discussion on the "Regulation of Artificial Intelligence Bill, 2024," introduced by Senator Dr Afnanullah Khan. The bill aims to create an ethical and legal framework for AI use and innovation. The committee emphasised the urgency of regulating AI technologies in light of rapid global developments. The ministry briefed the committee on the establishment of an Emerging Technology Wing focused on four key areas: Artificial intelligence, semiconductors, cybersecurity, and quantum technologies. It was revealed that Rs16 billion has been allocated under the Public Sector Development Programme (PSDP) 2024–25 to fund these innovations. In a separate briefing, the director of the National Cyber Crime Investigation Agency (NCCIA) updated the committee on operations against illegal call centres. A total of 54 centres were raided, resulting in 254 arrests, with the majority of cases traced to Islamabad. These centres employed advanced tactics, including fake social media profiles and cryptocurrency laundering, to defraud victims. Committee members called for stronger legal mechanisms to combat cybercrime and reiterated the importance of equitable funding and inclusive participation in national AI and tech development projects. Senator Palwasha concluded the session by reaffirming the committee's commitment to accountability, digital security, and technological advancement driven by merit and fairness. Copyright Business Recorder, 2025

Fake solar panel importers fined Rs111b
Fake solar panel importers fined Rs111b

Express Tribune

timea day ago

  • Express Tribune

Fake solar panel importers fined Rs111b

Listen to article The Directorate of Customs Post Clearance Audit has validated the allegations of large-scale money laundering involving 13 companies that imported solar panels. The Customs Adjudication Collectorate imposed a massive penalty of Rs111 billion on these companies for bringing in fake solar panel shipments. According to Shiraz Ahmed, Director Post Clearance Audit Karachi, the decision was issued by Deputy Collector Dr Iram Zahra. Documents reveal that 13 fake importing companies falsely declared solar panel imports worth Rs1.2 trillion to transfer money abroad. Meanwhile, Rs1.4 trillion was deposited into their bank accounts, of which Rs45 billion was deposited in cash. The adjudication ruling confirmed that these companies did not physically exist and only remained on paper. In their sales tax returns, they reported fake local sales of Rs85 billion under names of fictitious buyers. As per official record, the fined companies included Bright Star Business Solution, Peshawar (Rs53 billion), Moonlight Traders, Peshawar (Rs21 billion), Smart Impex, Quetta (Rs1.4 billion), Ehsan Importer & Exporter, Quetta (Rs2 billion), Asadullah Enterprises, Quetta (Rs1 billion), SH Traders (Rs1.2 billion), Delta Trading Company, Islamabad (Rs2.6 billion), Sehar International (Rs1.7 billion), Sky Linker Business Chain (Rs2 billion), Sky Linkers Trading Company (Rs8.6 billion), Pak Electronics (Rs500 million), Royal Zone (Rs16 billion) and Solar Site (Rs7.7 billion). The ruling stated that the accused involved in money laundering did not appear to defend their case, and therefore, an additional fine of Rs45 million was imposed on 45 individuals. Moreover, 327 containers of solar panels imported by Solar Site Pvt Ltd are currently held at Karachi ports. These consignments have been seized and will be auctioned to recover Rs1.5 billion in revenue.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store