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Business Recorder
a day ago
- Business
- Business Recorder
Finance minister lauds CCP's for ‘reducing pending court cases'
Federal Minister for Finance Muhammad Aurangzeb expressed satisfaction over the performance of the Competition Commission of Pakistan (CCP), saying the commission's had brought significant improvements, particularly in reducing the number of pending court cases. Addressing the Senate, the finance minister requested the chairman Senate Standing Committee on Finance and Revenue, to invite Dr Kabir Sidhu, Chairman CCP, for a detailed briefing to appreciate the true extant of reforms undertaken by the commission. He informed the house that over the past two years, the CCP's new management actively pursued litigation in various courts, which resulted in reducing the backlog of cases from 577 to approximately 300. Responding to a motion moved by Senator Mohsin Aziz, the minister emphasised that a transparent and robust regulatory framework is essential in a market-based economy to foster competition and ensure accountability. In this context, he highlighted CCP's recent performance as crucial and deserving of support. He shared that the CCP issued 11 major orders in the past year alone, imposing fines exceeding Rs1 billion. Of this amount, approximately Rs120 million has already been recovered. The inquiry process has been expedited, the issuance of show-cause notices has become more efficient, and the overall hearing mechanism has improved to ensure timely action against violators. The minister further stated that CCP's Cartels Department completed 20 inquiries during the current fiscal year, while the Office of Fair Trade finalised 13 investigations related to misleading advertisements and deceptive marketing. These investigations have led to the issuance of show-cause notices and the initiation of formal hearings, he said. He also informed the Senate about the establishment of a dedicated Market Intelligence Unit within the CCP, which proactively monitors market distortions, price manipulation, and other potential violations of competition law. The minister said that the unit has so far identified 170 potential violations across sectors such as banking, e-commerce, telecom, and real estate, with 28 inquiries already initiated. CCP tells Aurangzeb: 23 major actions taken against cartels and cos Highlighting the CCP's role in facilitating investment, he said that the commission Mergers Department approved 69 transactions during the current year, resulting completion of transactions worth $30 million in foreign direct investment (FDI). Moreover, the Exemptions Department granted 83 exemptions, helping to ease business operations. He added that a Centre of Excellence has also been established within the Commission to conduct research and data-driven analysis of various market sectors.
Time of India
15-07-2025
- Business
- Time of India
Leadership shakeups cloud Ola Electric's revival attempts
People Exclusives Leadership shakeups cloud Ola Electric's revival attempts Bhavish Aggarwal, co-founder and CEO of Ola Consumer, and founder of Ola Electric; image credit: Visualisation by Sadhana Saxena Via AI Synopsis Bhavish Aggarwal-led EV maker reported an improvement in sales, revenue, and margins which sparked an uptick in the stock price for a day. But leadership churn clouds the progress — the new CBO quit in three weeks, the sales head in one, and the legal team is seeing exits. The company has just faced two weeks of uncertainty around the continuation of three key people. When a company's top brass keeps exiting faster than customers can say 'electric scooter', it is a red flag that cannot be ignored. Ola Electric, the company that stunned the electric two-wheeler market with its swift and forceful foray, is struggling with a leadership crisis that has aggravated in recent months amid slump in sales, stock price crash, regulatory actions, and product delays. 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Time of India
15-07-2025
- Business
- Time of India
Stock Radar: UltraTech Cements hit a fresh record high in July; what should investors do – book profits or buy the dip?
Investment Ideas Stock Radar: UltraTech Cements hit a fresh record high in July; what should investors do – book profits or buy the dip? UltraTech Cement stock is showing positive momentum. It may reach Rs 13,500 in the coming months. Experts suggest buying the stock with a stop loss at Rs 12,000. Synopsis UltraTech Cement has been on an upward trajectory since June 2025, surpassing its 200-DMA and reaching a new record high in July. Experts suggest that the stock's momentum could drive it beyond Rs 13,500 in the coming months. With strong buying momentum and positive technical indicators, analysts recommend buying the stock with a stop loss at Rs 12,000. UltraTech Cements Ltd, part of the cement industry, has been in an uptrend after testing 200-DMA in June 2025 on the daily charts to hit a fresh record high in July traders or investors can look to buy the stock or remain invested as the momentum could take the stock higher than Rs 13,500 levels in the next 1-2 months, suggest cement stock bounced back after consolidating around the 200-DMA back in June 2025. It has Gift ETPrime to your friends Gift a Subscription Now, gift ETPrime subscription to your friend for Free! Gift this Story to your friends Gift a Story Share member-only stories with your friends or family and help them read it for free. FONT SIZE Abc Small Abc Medium Abc Large SAVE PRINT COMMENT Continue reading with one of these options: Limited Access Free Login to get access to some exclusive stories & personalised newsletters Login Now Unlimited Access Starting @ Rs150 Rs120/month Get access to exclusive stories, expert opinions & in-depth stock reports Subscribe Now ET Uh-oh! This is an exclusive story available for selected readers only. Worry not. You're just a step away. Sign In to Read for Free Prime Account Detected! It seems like you're already an ETPrime member with Login using your ET Prime credentials to enjoy all member benefits Log out of your current logged-in account and log in again using your ET Prime credentials to enjoy all member benefits. Sign in & Access ET Prime Unlock ETPrime's Exclusive Stories Today! Subscribe to gain powerful insights on business, stock market and industry trends. Big Price Drop! Flat 40% Off Avail Offer Student Only Offer Already a Member? Sign In now Already a Member? Sign In now Make profitable decisions with Investment Ideas. Join ETPrime to unlock expert insights and smart market tools for in-depth market analysis. Already a Member? Sign In now Monsoon Sale Ends Soon! Get Upto 40% Off on ETPrime Avail Offer Exclusive Student Only Offer Continue with Email Continue with Mobile No. Claim Now Already a Member? Sign In now What's Included with ETPrime Membership 1 Invest Wisely With Smart Market Tools & Investment Ideas Grow your wealth with stock ideas & sectoral trends. Buy low & sell high with access to Stock Score, Upside potential & more. Get to know where the market bulls are investing to identify the right stocks. Check the score based on the company's fundamentals, solvency, growth, risk & ownership to decide the right stocks. Analyze the market sentiments & identify the trend reversal for strategic decisions. Ask your stock queries & get assured replies by ET appointed, SEBI registered experts. 2 Stay informed anytime, anywhere with ET ePaper ePaper - Print View Read the PDF version of ET newspaper. Download & access it offline anytime. ePaper - Digital View Read your daily newspaper in Digital View & get it delivered to your inbox everyday. Wealth Edition Manage your money efficiently with this weekly money management guide. 3 Exclusive Insights That Matter Uncover the truth with our investigative stories Make strategic moves using the real-world case studies Read industry-specific stories to identify emerging trends Spot opportunities with in-depth insights that matter Trump temper on H-1B visas is forcing Indians to do these things to stay put in US What Adani's US indictment means for India Inc's overseas fundraising Why veterans like Reliance, L&T are on acquisition spree? Aswath Damodaran has an answer. Will China's dollar bond sale in Saudi Arabia trump the US in financial world? Huawei launches its own OS to compete with Google and Apple. But can it win beyond China? The problem with lab grown diamonds Why a falling rupee is a better option for the economy A list of top 20 momentum stocks that have delivered massive returns in one year 1 2 3 4 4 Times Of India Subscription (1 Year) TOI ePaper Read the PDF version of TOI newspaper. Download & access it offline anytime. Deep Explainers Explore the In-depth explanation of complex topics for everyday life decisions. Health+ Stories Get fitter with daily health insights committed to your well-being. Personal Finance+ Stories Manage your wealth better with in-depth insights & updates on finance. New York Times Exclusives Stay globally informed with exclusive story from New York Times. 5 Enjoy Complimentary Subscriptions From Top Brands TimesPrime Subscription Access 20+ premium subscriptions like Spotify, Uber One & more. 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Express Tribune
10-07-2025
- Business
- Express Tribune
Kisan Ittehad blames smuggling for sugar price hike
Kisan Ittehad President Khalid Hussain Batth has alleged that speculative hoarding, large-scale smuggling, and institutional inaction are driving the recent surge in sugar prices. While addressing a press conference at the Karachi Press Club on Wednesday, Batth claimed that if the prime minister and the president intervened, the retail price of sugar could be brought down to Rs120 per kilogram within hours — without the need for duty- and tax-free imports. He asserted that sugar is currently being sold at around Rs200 per kilogram despite a production cost of no more than Rs120. "Sugar mills purchased sugarcane from farmers at rates ranging between Rs220 and Rs460 per maund. The price hike has no justification," he said. Batth demanded a transparent investigation into sugar mill owners to uncover who bought sugar, in what quantity, and at what price. He claimed that the current crisis has resulted in a financial scandal amounting to Rs114 billion, arising from speculation, smuggling, and now importation. In response to a question, Batth revealed that a court case related to sugar and wheat prices remains pending with no hearings held to date. He further alleged that political figures from major parties, including the PML-N, PPP, and PTI, own significant shares in sugar mills. He claimed that even the families of the prime minister and president are involved in the sugar industry. Batth accused the government of artificially inflating prices due to incompetence and warned that the planned import of 500,000 tons of duty-free sugar would result in substantial losses to the national exchequer. City traders oppose sugar import plan The Wholesale Grocers Association has vehemently opposed the government's decision to import 500,000 tons of sugar, calling instead for an immediate crackdown on hoarders and speculative sugar dealers who are driving up market prices artificially. Chairman of the association, Rauf Ibrahim, told The Express Tribune that dealers and the sugar speculation mafia currently hold stockpiles of approximately 2.6 million tons-enough to meet the country's needs for the next five months. "If swift action is taken against these dealers, wholesale sugar prices could drop to Rs150 per kilogram within just two days," Ibrahim claimed. In a related development, the Federal Board of Revenue (FBR) has issued two new SROs-No. 1216 and 1217-reducing sales tax on white crystal sugar imports from 18% to 0.25%. Additional relief includes exemption from Value Added Tax and a reduced withholding tax rate of 0.25%. According to FBR, the final deadline for importing sugar under these provisions is September 30, 2025.
Time of India
10-07-2025
- Business
- Time of India
Veggie Rates Soar as Rain Disrupts Supply Routes
1 2 Nagpur: Torrential rainfall over the past few days has disrupted vegetable supply to Nagpur, triggering a sharp spike in prices. With several highways and key entry points waterlogged, transportation of produce from rural belts to city markets has slowed down, causing temporary inflation. A TOI visit to markets in Gokulpeth, Khamla, and Beltarodi on Thursday revealed significant price hikes, especially in leafy greens. Spinach jumped from Rs50 to Rs80 per kg in just two days, while fenugreek climbed from Rs80 to Rs120/kg. Tomato prices too surged from Rs40–50 to Rs60–80/kg. Other vegetables such as carrots, capsicum, and cauliflower witnessed up to 50% rise — from ₹80 to ₹120/kg — as supply chains struggled to keep up. In contrast, prices in markets on the city outskirts showed only minor fluctuations. Onions and garlic saw increases of around Rs20/kg and are now retailing at Rs60–80 and Rs140–160/kg respectively. However, potatoes, chillies, and ginger remained stable due to adequate buffer stock. Interestingly, lemon prices dropped from Rs8 to Rs4 per piece, likely due to lower demand. "Due to the rains, supply is erratic. Even if quantity is sufficient, a lot of vegetables are rotting," said a vendor at Beltarodi. A Khamla hawker added, "Crops from Bazargaon are damaged. Farmers are bringing less produce. Even regular buyers are holding back." At Gokulpeth market, another vendor echoed the concern. "Flooded roads are blocking delivery vehicles. Whatever little comes in sells at a premium." With the monsoon battering infrastructure and disturbing supply chains, citizens are hoping for clearer skies — and stable prices — in the days ahead.
