Latest news with #Rs12
Express Tribune
4 days ago
- Business
- Express Tribune
Consumers pay bitter price for sweetener
In the digital age, there's no excuse for opacity as a transparent digital dashboard that tracks sugar from mills to wholesalers to retailers would make it harder for hoarders and profiteers to operate undetected. Photo: file Due to a lack of government attention, sugar prices have skyrocketed across the country, with an increase of up to Rs60 per kilogram at the retail level. Experts believe that the artificial sugar shortage is a direct result of inaccurate data and flawed decisions by federal institutions concerning sugar production and consumption. In the midst of this crisis, sugar profiteers have become active once again, manipulating prices in major markets across Lahore. The government's weak control has allowed profiteers to exploit the public, which is forced to buy sugar at inflated rates. In 2024, sugar was selling at Rs140 to Rs145 per kilo, but it is now being sold for Rs190 to Rs200 per kilo. The official DC rate remains at Rs145, but no retailer is selling at this price. Retailers argue that they themselves are getting sugar at higher prices. According to Sheikh Tanveer, the price of a 100kg sugar sack was Rs12,000 last year, but due to poor planning, it has now soared to Rs18,000 at the ex-mill rate. "Retailers make little profit, while the real beneficiaries are mill owners and sugar profiteers," said Tanveer. Even though the government claims to maintain complete records of sugar production and consumption, a crisis occurs every year. Citizens claim that due to poor government policies, they are forced to spend their hard-earned money buying sugar at inflated rates. This time, the price hike is not minimal, adding up to Rs40 per kilo. One citizen demanded that the Prime Minister take notice and act against those responsible. "But nothing ever happens in this country," he added. "Inflation robs us in broad daylight. It is the government's responsibility to control prices, yet no department seems to be doing anything," lamented the local. Sources have revealed that the same profiteers, who were previously targeted by the Federal Investigation Agency (FIA) with full force, including arrests and record seizures, are once again operating in an organized manner, as they dominate future sugar pricing, especially in markets like Lahore's Akbari Mandi and Karachi's Jodia Bazaar. The FIA had previously launched a strong crackdown, but suddenly and without explanation, the operation was called off. It is unclear whether this was due to the influence of powerful profiteers or fear within the government, but sources claim officials made personal gains during the process. Till date, not a single sugar profiteer has been brought under the law. According to the Pakistan Sugar Mills Association, the country produced 6.8 million tonnes of sugar during 20242025, which was 3 per cent more than the previous year. There was already a surplus of 7 million tonnes last year, prompting the government to allow exports. Despite sufficient availability, hoarders are now creating an artificial shortage once again, pushing sugar prices up to Rs200 per kilo. Currently, Federal Board of Revenue (FBR) representatives have been deployed at sugar mills to prevent tax evasion. According to the FBR, this has improved tax recovery. Additionally, joint raids by the FBR and Intelligence Bureau are being conducted against hoarders across the country to stabilize prices. While there was no price hike during Ramadan, sugar prices have surged once again across the country. However, beyond targeting hoarders, no action has been taken against the profiteers responsible for driving up prices. Meanwhile, the Ministry of Food is preparing to spend valuable foreign exchange on sugar imports. Tendering has already begun, though the next sugarcane crushing season is scheduled to start in November. In this entire scenario, billions of rupees are being drained from the pockets of the poor, while neither the government nor the bureaucracy seems affected.
Time of India
6 days ago
- Time of India
2 brothers murdered over financial dispute
Trichy: A tense situation prevailed in Avudaiyarkoil town in Pudukottai district after two brothers were hacked to death by a gang on Thursday night. Pudukottai police, which formed six special teams, secured seven suspects on Friday. The double murder is believed to have been the fallout of a financial dispute over selling a high-end bike. A posse of policemen has been stationed in the area to de-escalate the situation. Police said the deceased, K Kannan, 35, and his brother K Karthi, 29, hailed from Kamarajar Nagar in Avudaiyarkoil town. Around 10pm on Thursday, the brothers were talking at a tank near their house when an unidentified gang hacked them to death and fled. Locals found the two bodies with cut injuries, and informed police. Police said Kannan was supporting one of his cousins, identified as Surya, who recently sold a high-end sports bike to one Bala, both belonging to the same locality. "Bala was supposed to pay Rs40,000 to Surya. As payment was delayed, the deceased Kannan asked Bala to pay up. One Muthu Kumar supported Bala in the dispute," an investigation officer said. A week ago, police said that an altercation broke out between Kannan and Muthu Kumar with the latter reportedly threatening Kannan with dire consequences. However, no police complaint was lodged. On Thursday night, on learning that the brothers were alone, an armed gang committed the murders. "The intention seems to have been to murder Kannan, but his younger brother attempted to protect him and apparently got killed. They both had similar physical appearances," the officer added. Among the seven secured is prime suspect Muthu Kumar, and further investigations is underway. A financial assistance of Rs12 lakh (Rs6 lakh each) was provided to the family of the two victims by the district administration.
Express Tribune
7 days ago
- Business
- Express Tribune
Cabinet committee grants additional Rs12b for SSWMB
The Cabinet Committee on Finance, under the chairmanship of Energy, Development & Planning Minister Syed Nasir Hussain Shah and Interior & Law Minister Zia-ul-Hassan Lanjar, held a meeting of the Energy Department. During the meeting, the Sindh Solid Waste Management Board (SSWMB) presented a request for an additional budget for the fiscal year 2024-2025. After reviewing legal aspects of the request, committee members, in consultation with provincial ministers, approved a conditional out-of-budget grant of Rs12 billion for the SSWMB. It was also decided that the SSWMB will reassess all existing contracts with waste collection contractors, as the rates in Sindh were found to be higher than those in other cities. A proper system will be introduced to accurately measure the weight of garbage removed, and razor readers will be installed in all garbage collection vehicles. This will ensure that contractors are paid according to the actual weight of garbage transported, preventing the misuse of public funds.
Time of India
23-07-2025
- Business
- Time of India
From Classrooms To The Streets: Educated Riders With Dreams On Hold
Nagpur: On almost every street, delivery workers can be seen navigating the lanes with speed and concentration. Beneath their helmets lie tales of hardship, ambition, and sacrifice. Many are graduates, students, or aspirants of competitive exams, who have turned to delivery jobs out of necessity, not choice. One delivery worker had achieved a commendable NEET score, sufficient for admission to a prestigious medical college. However, a financial crisis at home left him unable to afford the high tuition fees, forcing him to abandon his dream. Now, he spends 10 to 12 hours a day delivering food and essentials, often passing hospitals that remind him of what might have been. "Seeing people in white coats affects me," he says. "But this delivery bag is what supports my family now." Another rider, currently pursuing a BSc degree, begins his day at college and ends it delivering groceries until late at night. With no father, an ailing mother, and an elder brother working small shifts to contribute, he shoulders a significant portion of the responsibility. From medicines to daily expenses and tuition fees, both brothers combine their earnings to keep the household afloat. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villa Prices in Dubai Might Be Lower Than You Think! Villa for sale in Dubai | Search Ads Learn More Undo For many like them, becoming a delivery partner is straightforward — anyone over 18 can apply with basic documents like Aadhaar, PAN, and a valid driving license. No formal education is required. Once on-boarded, the company provides a branded delivery bag, uniform, and even an electric vehicle on rent or lease. With just 4 hours of work, many earn Rs400 daily — about Rs12,000 monthly. "There's no time to complain. We just keep going," he says. A third delivery worker, who holds a diploma in mechanical engineering, lost his job during the pandemic. After months of unsuccessful job applications, he joined the delivery workforce. "I never imagined doing this after studying so hard," he says. "But I needed to stay productive and support my family." Delivery platforms also include persons with disabilities. One such delivery partner, who is not a student, works full-time using a modified electric vehicle provided by the company. Unlike others, he earns slightly more per kilometre as an incentive for being specially-abled. "I may not walk fast, but I deliver fast. And here, I feel acknowledged," he says. "Both the company and the customers treat me with respect. " These stories are not isolated — they represent a growing trend. Educated and determined young people are entering the gig economy because formal employment remains inaccessible. They carry not just food, but dreams postponed by reality. Until the system provides better opportunities, they will continue riding, quietly holding on to hope with each order.
Hans India
23-07-2025
- Business
- Hans India
Rs 26-trn debt resolved via IBC
Mumbai: Nine years after the launch of the Insolvency and Bankruptcy Code (IBC), India has managed to resolve debt worth more than Rs26 lakh crore, either directly or indirectly, a new report said on Tuesday. Out of the total amount, around Rs12 lakh crore of debt was resolved through about 1,200 cases of stressed borrowers after they were admitted to the National Company Law Tribunal (NCLT), as per data compiled by Crisil Ratings. However, a bigger impact of the IBC has been in creating fear among defaulting borrowers, which helped settle nearly 30,000 cases involving Rs14 lakh crore of debt even before these cases could be formally admitted by the NCLT. Since its launch in 2016, the IBC has replaced the earlier debtor-friendly system with a creditor-in-control approach. This major shift has made IBC more successful compared to earlier debt recovery methods like the Debt Recovery Tribunal (DRT), Lok Adalats, and SARFAESI. Data shows that the average recovery under the IBC has been 30-35 per cent, which is much higher than 22 per cent under SARFAESI, 7 per cent under DRT, and just 3 per cent through Lok Adalats.
