Latest news with #275
Time of India
4 days ago
- Business
- Time of India
Onion rates come down by 15% at Lasalgaon APMC
Nashik: Average onion wholesale price at Lasalgaon APMC saw a 15% drop in the last two weeks. Prices came down to Rs1,275 per quintal on Monday from Rs1,500 per quintal on July 16. The cause has been attributed to a drop in demand compared to supply. According to traders, demand has declined due to the ongoing Shravan month. Another reason has been attributed to the production of kharif onion in Madhya Pradesh, Rajasthan and Karnataka. These new crops have a lower transportation cost to North Indian and other states due to their geographical proximity, thus have lower average wholesale prices too. Manoj Jain, an onion trader, told TOI: "This is the reason the average wholesale onion prices dropped by around 15% during the last fortnight." Around 16,300 quintals of onions were auctioned at Lasalgaon on Monday. The drop in wholesale prices has left farmers worried as they are unable to recover even the production cost. Bharat Dighole, president of Maharashtra onion growers association, said: "Every year, the Centre procures onions through two central agencies to create a buffer stock. We want central govt to procure onions directly from the farmers at the APMCs at the price of Rs 3,000 per quintal," he added.
The Hindu
20-07-2025
- Politics
- The Hindu
AP Adivasi JAC demands jobs for only tribals in Agency areas
Andhra Pradesh Adivasi JAC on Sunday demanded that jobs in Agency (tribal) areas be given to tribal candidates only. Chief Minister N. Chandrababu Naidu should keep his promise of implementing 100% reservation in Scheduled Areas to STs, said JAC ASR district chairman Rama Rao Dora in a statement on Sunday. Only ST candidates should be appointed as teachers in the tribal areas in the recent DSC notification for teachers, he said. The JAC leader recalled that former Chief Minister N.T. Rama Rao had issued G.O. no. 275 to remove the inequalities being faced by the tribal people in social, education and employment sectors. Subsequently, Mr. Naidu as the Chief Minister brought out G.O. no. 3 to overcome legal challenges. The Constitution has made it clear that it was the responsibility of the governments to safeguard the job prospects of the tribal people living in the scheduled areas, he added. While welcoming the decision to hold review meetings with Tribal Welfare Director Pratibha Bharathi with all ITDAs on G.O. no. 3 and on other tribal welfare acts, Mr. Rama Rao sought that an IAS officer should be specially appointed to hear the views of the tribal people and take representations from them.
Express Tribune
19-06-2025
- Business
- Express Tribune
Govt unveils major plan to end Rs1.2tr circular debt
The federal cabinet on Wednesday gave the green light to Pakistan's largest financial restructuring scheme aimed at eliminating the crippling circular debt in the power sector. Prime Minister Shehbaz Sharif chaired the federal cabinet meeting at the Prime Minister House and approved a series of key decisions ranging from energy sector reforms to diplomatic and institutional recognitions, a Prime Minister's Office news release said. The Debt Plan, designed to restore financial stability in the energy industry without burdening the national budget, aims to eliminate Rs1,275 billion in circular debt over the next six years. The approved scheme includes refinancing Rs683 billion owed by the Power Holding Company and clearing long-standing dues of Independent Power Producers (IPPs). The Prime Minister termed the decision a "historic step toward economic stability and investor confidence in Pakistan's energy sector." "This reflects our commitment to sustainable institutional reforms and reducing fiscal pressure, paving the way for a more stable and prosperous energy future," he said during the session. The cabinet also extended appreciation to Finance Minister Muhammad Aurangzeb and his economic team for presenting a public-friendly budget for the upcoming fiscal year, acknowledging their efforts in stabilizing the national economy. On the diplomatic front, Prime Minister Shehbaz Sharif lauded Chief of Army Staff Field Marshal Syed Asim Munir for his address to the Pakistani diaspora during his recent US visit. The prime minister commended the Field Marshal's firm commitment to defending Pakistan's borders and interests, calling it a powerful representation of national resolve. In recognition of exemplary Hajj arrangements this year, the prime minister paid tribute to Minister for Religious Affairs Sardar Yousaf, citing the well-managed pilgrimage as a reflection of the government's commitment to public service excellence. In other key decisions, the cabinet approved the appointment of Kamal Uddin Tipu as Chairperson of the Commission for the Protection of Journalists and Media Professionals on the recommendation of the Ministry of Human Rights. The cabinet also granted exemption under Section 21 of the Public Procurement Regulatory Authority Ordinance, 2002, to the National Power Parks Management Company Limited (NPPMCL) for procurement related to the acquisition of Rousch Power Plant. Additionally, the cabinet ratified the decisions taken during the Cabinet Committee on Legislative Cases meeting held on May 21, 2025.
Express Tribune
12-06-2025
- Business
- Express Tribune
Govt set to lift surcharge cap on electricity bills
The federal government is planning to impose additional surcharges on electricity consumers by amending the National Electric Power Regulatory Authority (NEPRA) Act, a move that would allow it to unilaterally increase electricity bills, sources said on Wednesday. According to official sources, the proposed amendment to the NEPRA Act will empower the government to exceed the current 10% cap on electricity surcharges, paving the way for higher charges on consumer bills. Sources said the government was preparing to remove the existing 10% limit on surcharges levied through power bills, with the new legal framework granting it broader authority to determine tariff hikes on a case-by-case basis and for specified durations. A proposal is also under consideration to charge consumers an additional Rs3.23 per unit as a surcharge. However, a final decision regarding the increase has not yet been made, sources clarified. In the past, surcharges collected from electricity bills were primarily used to pay interest on the growing circular debt. The government is now aiming to eliminate the circular debt altogether by borrowing Rs1,275 billion from commercial banks.
Gulf Today
03-06-2025
- Business
- Gulf Today
United Arab Bank launches strategic Rights Issue to raise up to Dhs 1.03 billion
United Arab Bank PJSC (UAB), listed on the Abu Dhabi Securities Exchange (ADX) announced that it proposes to increase its issued share capital by an amount up to Dhs1,031,275,325 (one billion thirty-one million two hundred seventy-five thousand three hundred twenty-five dirhams) from Dhs2,062,550,649 (two billion sixty-two million five hundred fifty thousand six hundred forty-nine dirhams) up to Dhs3,093,825,974 (three billion ninety-three million eight hundred twenty-five thousand nine hundred seventy-four dirhams) by way of the Rights Issue offered to the existing shareholders of the Bank. Further, United Arab Bank has published an invitation to its shareholders (the "Invitation") to subscribe for New Shares. Frequently asked questions relating to the Rights Issue will be made available on UAB's website ( on or around today's date. The New Shares will be issued at an issue price of Dhs1 per New Share (the "Issue Price"). The terms and launch of the Rights Issue were approved by the UAB's General Assembly Meeting held on 6th March 2025, following the approval of the Board of Directors of the Bank held on 4th February 2025. The necessary regulatory approvals have been obtained for this transaction. United Arab Bank intends to use the net proceeds raised from the Rights Issue to strengthen its capital base and to support future growth of the business of United Arab Bank. The holders of Rights, which includes shareholders of United Arab Bank and any persons who purchased Rights during the Rights Trading Period (the "Eligible Persons"), will be entitled to exercise their Rights to subscribe for New Shares at the Issue Price commencing on 4th July 2025 and ending on 17th July 2025. The New Shares will be allocated to Eligible Persons on 24 July 2025. Refunds will be given to Eligible Persons, who did not receive the number of New Shares that they subscribed for, on or around 24th July 2025. Commenting on the announcement, Shirish Bhide, CEO of United Arab Bank, said, "The Rights Issue represents a significant milestone in the Bank's journey towards its next phase of growth. It is an important step in strengthening United Arab Bank's capital position and reinforces our long-term commitment to sustainable growth. The additional capital will support the implementation of our growth strategy, enhance our financial resilience, and create long-term value for our shareholders while continuing to serve the UAE economy and contribute to its development agenda.' First Abu Dhabi Bank PJSC has been appointed as Lead Manager and Bookrunner in respect of the Rights Issue and Al Tamimi & Co. have been appointed as Legal Adviser. WAM
