Latest news with #Rs101
Express Tribune
11-07-2025
- Express Tribune
Pharmacist convicted
ATC also sentences MQM worker Syed Maroof to life imprisonment after police recovered explosive material from him. STOCK IMAGE A special drug court has sentenced a man to 19 years in prison and imposed a fine of Rs101 million for operating a medical store without a license.
Business Recorder
08-07-2025
- Business
- Business Recorder
FY2024-25 seafood exports reach $489.2m mark
ISLAMABAD: Pakistan's seafood exports with 20.5 percent increase during 2024-25 has reached $489.2 million against $406 million of the past year which is the second highest volume behind $496 million in 2022-23. Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry, while sharing the details of Pakistan's seafood exports during 2024–25 here on Monday, said that China retained its position as the top importer, purchasing over 99,238 metric tons of seafood worth $186 million. Thailand followed as the second-largest destination, importing seafood valued at $105.7 million. Other key markets included the UAE, Malaysia, Japan, South Korea, Kuwait, Saudi Arabia, Vietnam, and Indonesia which reflects Pakistan's wide and diversified global outreach. Lauding the Marine Fisheries Department's seafood annual export progress, the minister attributed this strong performance to enhanced regulatory measures, export diversification, and sustained international demand. Chaudhry highlighted the sector's growth in export volumes, which rose by 19.8 percent to 242,484 metric tons, up from 202,400 metric tons in FY 2023–24. He said this volume growth reflects the sector's expanding production capacity and growing presence in global markets. The export value to the European Union surged by 44.4 percent to $13 million. The minister said this shift points to Pakistan's strategic focus on premium, high-value seafood products tailored to EU preferences, where quality and sustainability increasingly influence demand. The Marine Fisheries Department's report also detailed the product segments driving this growth. Fish meal led with 79,090 metric tons valued at $160 million, followed by frozen fish $103.11 million, shrimps $61.4 million, crabs $29.68 million, and mackerels $23 million. Other exported species included sole, jellyfish, skates, and eels. Chaudhry also noted a major boost in non-tax revenue from the fisheries sector, which jumped by 131.68 percent, from Rs101 million in FY 2023–24 to Rs 234 million in 2024–25. This increase, the minister said, reflects improved regulatory oversight and more efficient fee collection mechanisms implemented over the past year. 'This consistent upward trend is not just about rising trade figures; it's also about better governance and stronger institutions,' the federal minister remarked. 'Our regulatory reforms and sustainable practices are driving tangible results.' He emphasised that the government's continued investment in infrastructure, adherence to international standards, and commitment to responsible fishing are central to this progress. Efforts to modernise processing facilities and tap into emerging markets are expected to further enhance Pakistan's competitiveness on the global stage, he added. Looking forward, Chaudhry reaffirmed the government's dedication to building on this momentum. Future plans include upgrading export infrastructure, encouraging responsible resource management, and exploring untapped markets to cement Pakistan's growing role in the global seafood trade. The fiscal year 2024–25 stands as a landmark for Pakistan's fisheries industry, with solid achievements in both quantity and value. These gains not only strengthen the national economy but also underline Pakistan's readiness to meet evolving global demands through sustainable and quality-driven practices, the minister stated. Copyright Business Recorder, 2025
Hans India
05-07-2025
- Business
- Hans India
Ramakrishna Electronics' bank fraud: ED grills Allu Aravind
Hyderabad: Sleuths of the ED on Friday grilled Tollywood producer Allu Aravind in connection with a Rs 101.4 crore bank fraud and a money laundering case linked to Ramakrishna Electronics and Ramakrishna Teletronics (RTPL). Sources said that Aravind was grilled for over three hours, especially regarding his alleged links to Ramakrishna Electronics and Ramakrishna Telotronics, which are accused of securing massive loans from Union Bank of India in 2018-19. The two firms reportedly obtained Rs101 crore in loans, which they diverted for personal use and not for any legitimate business purposes. During investigations, Aravind's name surfaced in several property transactions and financial dealings related to these companies. Following the initial round of questioning, ED officials issued fresh summons to Aravind directing him to appear before the agency next week. The ED's Hyderabad zonal office conducted searches across Hyderabad, Kurnool, and Ghaziabad as part of its probe into the alleged diversion and misappropriation of loan funds. They seized documents related to properties suspected to have been bought with the proceeds of crime, froze about Rs 1.45 crore in bank accounts of the accused and their companies, and recovered digital devices and records of foreign payments. Siblings V Raghavendra and V Ravi Kumar are the key figures in the group and they allegedly misused the loans in connivance with others.
Time of India
22-04-2025
- Business
- Time of India
Bullion Bull Run: 1 tola gold costlier than a kg of silver
Nagpur: The gold-silver equation has gone haywire. In a rare instance, traders say 1kg of silver is cheaper than one tola (10 gram) of gold, indicating a sharp increase in gold prices. On Tuesday, the rate of a tola of gold stood at Rs99,000 (Rs101,970 with GST), while one kg of silver was at Rs97,000. The yellow metal crossed the Rs1 lakh mark with GST on Monday itself. A difference of Rs2,000 is not only significant but, but also not in line with the normal trends, say traders. A tola and a kg are standard measures for gold in the domestic market. Globally, the rates are quoted in dollars per ounce. Normally, one kg of silver remains costlier than one tola of gold. This indicates a one-sided rally in the price of gold, which has now left silver behind. The sliding dollar, differences between the US President and Fed chief, and volatile geopolitical situations have led to funds being parked in gold, fuelling its price. The same factors have impacted the industrial consumption of silver, keeping its rates moderate. Silver also has an industrial use while gold is used in ornaments and as a safe haven asset. Rajesh Rokde, president of Gems and Jewellery Council (GJC), said this shows that if gold is racing ahead, silver still has some headroom. TOI collected the last five years' rates from the local market at Sarafa Oli in Itwari. A person who invested in the yellow metal in the Covid year of 2020 now stands to gain more than double the principal amount. Silver, on the other hand, has given 25% returns since then. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Oldest Stars Who Are Still Alive And Often Forgotten Boite A Scoop Undo Around March-April 2020, gold rates stood at Rs41,600 a tola, now touching Rs99,000 (without GST), an increase of 137% since then. Silver, on the other hand, gave over 25% returns compared to the physical market rates. Meanwhile, the gold exchange-traded funds (ETF) rates have also crossed Rs81 a unit, while silver ETFs are over Rs93 on average. Investors in sovereign gold bonds got a price of Rs9,669 per unit for premature redemption of bonds issued in October 2018, again giving handsome returns, said market sources.
