Latest news with #KhalidMehmood
Business Recorder
30-06-2025
- Business
- Business Recorder
Mega corruption scandal: NAB Lahore recovers Rs2bn
LAHORE: Under the supervision of Director General (DG) NAB Lahore, Ghulam Safdar Shah, the NAB Lahore investigation team has successfully concluded a major recovery of Rs 2 billion in ongoing probe pertaining to a mega corruption scandal involving officers and officials of the Public Health Engineering Department (PHED), Sheikhupura. The DG NAB Lahore formally handed over first installment of the recovered amount to Additional Secretary Finance, Punjab Khalid Mehmood in NAB office, Lahore. According to the details, NAB Lahore launched Inquiry proceedings in September 2024 pertaining to the issuance of bogus cheques worth Rs 5 billion (approx.) by the Officers and staff of the Public Health Engineering and District Accounts Office, Sheikhupura. During the inquiry proceedings, some of the accused persons confessed to their crimes and filed Plea Bargain (PB) requests of Rs2 billion, which were duly approved by the Accountability Court, Lahore. Following court approval, the Bureau succeeded to ensure recovery within a remarkably short period and the initial tranche of the recovered amount has been submitted into the national treasury. On the occasion, DG NAB Lahore commended the exceptional performance of the investigation team, noting that the recovery of looted public funds in such a short time reflects team's commitment and competence. He further stated that investigations are actively underway against other accused persons involved in alleged embezzlement of public funds. Highlighting Chairman NAB's vision, DG Ghulam Safdar Shah emphasized that providing immediate relief to common citizens is NAB's top priority, however, all possible measures are being taken towards this end. He added that in order to recover and distribute the looted amounts to the rightful victims, the process of auctioning-off seized properties of the accused persons has been initiated. In this regard, a public auction of valuable confiscated properties was held at Deputy Commissioner Office, Lahore. However, the auction of seized assets will continue as per given schedule in other districts, as well. Copyright Business Recorder, 2025
Business Recorder
28-06-2025
- Business
- Business Recorder
Global economic reforms demanded
LAHORE: Farmers, workers, women, climate justice and civil society groups arranged a march in front of the US embassy near Lahore Press Club to demand major reforms to the global economic and financial system. The march was arranged in time for the 4th International Conference on Financing for Development (FFD4) in Sevilla, Spain, where world leaders will meet from June 30 to July 3 to address the financing needs of the developing world. The protest was organized by the Pakistan Kissan Rabita Committee (PKRC), Labour Education Foundation (LEF), Tameer-e-Nau Women Workers Organisation, Joint Action Committee, and allied groups as part of worldwide protests held simultaneously in Asia, Europe, Africa, North America, and Latin America. Protesters in Lahore carried placards and banners with slogans - cancel the debt, deliver climate justice, tax the rich, not the poor). Participants denounced the global financial order, which, they argued, deepens inequality, sustains debt traps, and leaves developing countries like Pakistan to bear the brunt of financial crises, rising inflation, and climate disasters caused by industrialized nations. They called for the cancellation of illegitimate and unsustainable debts, urgent delivery of climate finance in the form of public, grants-based funds instead of loans, and for the establishment of democratic, multilateral frameworks under the United Nations to address both debt and international tax injustice. Speaking at the demonstration, Saima Zia of Pakistan Kissan Rabita Committee highlighted the severe impacts of this global injustice on Pakistan's farmers. 'For decades, the people of Pakistan — especially small farmers — have paid the price for a global financial system that benefits the rich and powerful. Rising debts and climate disasters have made our lands barren and our livelihoods unsustainable. It's time for our government and the international community to side with the people, not with profiteers. Cancel the debt, and pay for the climate damage you caused.' Khalid Mehmood, Director of Labour Education Foundation, stressed how these crises have deepened exploitation of workers in Pakistan. 'Every new IMF loan means harsher conditions for workers, wage freezes, privatization of public services, and rising inflation. Debt cancellation and a just global financial system are not abstract demands — they're a matter of survival for Pakistan's working class. We reject this unequal financial order and demand climate and economic justice now.' Copyright Business Recorder, 2025
Business Recorder
09-06-2025
- Business
- Business Recorder
‘Lowest in 9 years': Pakistan agriculture sector projected to grow only 0.56% in FY25
Pakistan's agriculture sector will grow marginally by 0.56% in the financial year 2024-25, as per the provisional data unveiled in the Economic Survey for FY25, against 6.40% growth recorded in the sector in 2023-24. The growth in the FY25 would be the 'lowest in 9 years', Topline Research said in a statement. 'Agri sector is expected to post lowest growth of 0.56% in 9 years (FY16: +0.41%) vs. 5 years avg. growth of 3.38%,' it said. The lower growth was attributed to decline in important crops production and cotton ginning by 13.5% and 19.0%, respectively. While other crops posted growth of 4.78%, livestock, forestry and fishing are expected to post growths of 4.72%, 3.03% and 1.2% respectively. On the other hand, important crops and cotton are expected to post declines of 13.49% and 19.03%, respectively. 'The crop sub-sector witnessed negative growth as a result of weather-related adverse challenges,' read the Economic Survey. 'Overall, the agriculture sector in FY25 showed a combination of resilience and challenges across its sub-sectors. The growth trend emphasizes the sector's enduring importance, while also highlighting the urgent need for modernisation, climate adaptation, knowledge enhancement, and productivity improvements to sustain its contribution to economic growth and social well-being.' In the Kharif 2024 season, water availability was 60.5 million acrefeet (MAF), lower than average system usage and Kharif 2023. For Rabi 2024-25 water availability remained at 29.4 MAF. The Rabi season observed reduced rainfall, while the Kharif season saw above-average rainfall, according to the survey. Agriculture in South Asia is shaped by a shared agro-climatic context, but countries vary in crop priorities due to policy choices, market demands and natural resource endowments. The Economic Survey said the country's cotton ginning sector showed volatility and cyclical patterns in the last six years. In FY 2025, the sector witnessed a contraction of 19.03% over exceptional growth of 47.23% the previous year. 'This decline reflects underlying structural challenges, adverse weather conditions and pest outbreaks.' To address challenges in the sector, the survey mentioned that the government is pursuing a 'multi-pronged approach focused on improving irrigation efficiency, advancing seed sector reforms, scaling up digital agriculture initiatives, and strengthening R&D and extension services'. 'These measures are essential not only for short-term stability but also for fostering a resilient, self-sustaining agriculture sector capable of driving inclusive economic growth and rural transformation,' the Economic Survey said. 'Agriculture in South Asia is shaped by a shared agro-climatic context, but countries vary in crop priorities due to policy choices, market demands and natural resource endowments.' Last week, Pakistan Kissan Ittehad Council (PKIC) President Khalid Mehmood said the agriculture sector witnessed a dramatic slowdown in the FY25, as he claimed that the farmers collectively suffered losses of around Rs2.2 trillion in wheat alone Khokhar stated that since May 2024, farmers have collectively suffered losses of around Rs2,200 billion in wheat alone — equivalent to 23.15% of the crop sector's contribution to gross domestic product (GDP) for the fiscal year 2023–24. The resulting financial strain had weakened farmers' purchasing power and affected the productivity of other crops as well, he said. PKIC has also warned the government against imposing general sales tax (GST) on agricultural inputs in the upcoming budget, stating that such a move would deal a final blow to the already struggling agricultural sector and further damage the national economy.
Business Recorder
12-05-2025
- Health
- Business Recorder
IG Punjab releases additional Rs2.618m
LAHORE: Inspector General Police Punjab Dr Usman Anwar is committed to the health welfare of his force and their families. In continuation of this commitment, an additional amount of Rs. 2.618 million has been released for the medical treatment of police personnel and their families. Punjab Police spokesperson, while sharing details, said that Rs. 1 million in funds were released for the treatment of the brain tumour of the widow of late Constable Khalid Mehmood. Inspector Muhammad Khalid Imran was given Rs. 225,000 for his wife's cancer treatment. Similarly, Rs. 200,000 each were released for the treatment of Inspector Mehmood Butt, Sub-Inspector Ajmal Khan, and Driver Constable Jafar Ali. Retired ASI Muhammad Safdar, Constables Muhammad Naveed and Ghazanfar Mehmood were each given Rs 100,000 for their treatment. Constable Waqas Liaqat, Intelligence Operator Muhammad Mohsin, and Washerman Asghar Ali were given a total of Rs. 200,000 for medical treatment. Assistant Tariq Mehmood, Lady Constable Shaheen Afzal, and driver constable Muhammad Asad were issued a total of Rs 293,000 for their treatment. IG Punjab approved the release of the funds after scrutiny by the Medical Financial Assistance Committee. Dr. Usman Anwar said that under MoUs with various institutions, the department is also providing employees with the best medical treatment facilities. Copyright Business Recorder, 2025
