Latest news with #Rs143
Business Recorder
2 days ago
- Business
- Business Recorder
Surge in sugar prices: PAC seeks records of all sugar mill owners, exporters again
ISLAMABAD: The Public Accounts Committee (PAC) has sought records of all sugar mill owners and exporters again, aiming to investigate the underlying causes of the nationwide surge in sugar prices. Junaid Akbar chaired the meeting of the PAC. The members committee showed serious concerns over the sudden raise in sugar prices as the commodity is being sold at Rs 210 per kg in Karachi and Rs 215 in Haripur, while the average price is at Rs 173 per kg nationwide. New official sugar prices notified for Karachi The officials of the Ministry of Industries hesitated to disclose the sugar mill owners, forced the chairman committee to issue directives for submission of names and directorship of sugar mills. The PAC chairman warned that a privilege motion would be moved in case the list was not submitted shortly. The secretary for Food Security also faced strong criticism for allegedly presenting inaccurate data of sugar production, export and prices. According to the data provided by the Ministry of Industries, 5.09 million tons of sugar approved for export in last 10 years but only 3.927 million tons were actually exported, earning over $400 million in foreign exchange. Officials stated that Pakistan produced 7.66 million metric tons of sugar last year, with 1.3 million metric tons in surplus. Of that, 500,000 tons were reserved for the next year, while the government approved the export of 790,000 tons in three phases. At the time of export, the local market price of sugar was Rs143 per kg, which has now jumped to Rs 173. The lawmakers criticised the ongoing cycle of sugar export and import, calling it a decade-long deception. Members committee Riaz Fatyana and Muhammad Arshad alleged that the nation was defrauded of Rs 287 billion due to the manipulated price hike and artificial shortages. Junaid asked the officials why sugar mills were awarded export subsidies and the reason behind the sudden issuance of SROs granting tax exemptions. Moin Pirzada accused the government of looting the nation and blamed the Sugar Advisory Board for corruption, calling the sugar mafia an integral part of the government. The committee was apprised that the prime minister formed a committee led by Deputy Prime Minister Ishaq Dar to probe the matter. Copyright Business Recorder, 2025
Time of India
04-07-2025
- Business
- Time of India
Sindhu Civilization to Resonate in Nagpur: NIT Plans Rs143-Crore Cultural Hub Honouring Ancient Legacy
1 2 Nagpur: The ancient Sindhu culture is set to come alive in the city as the Nagpur Improvement Trust (NIT) plans to develop a state-of-the-art Sindhu Art Gallery. This gallery is being designed with thematic inspiration from the Indus Valley Civilization, at an estimated cost of Rs143 crore. The art gallery-cum-community centre will be developed on a sprawling 16,644 sq mt or 4.6-acre land in Mouza Indora behind Jaripatka police station. The NIT, under chairman Sanjay Meena, has now floated tender for the construction of the Sindhu Art Gallery at Jaripatka for Rs84.26 crore. The Sindhi community has a sizable population in Jaripatka and other parts of North Nagpur. According to NIT officials, the Sindhi community was demanding the construction of a community centre for a long time. "The art-gallery-cum-community centre was proposed, and the Rs143 crore project received administrative approval on October 9, 2024. We have not yet received funds from the govt but have floated a tender for Rs84.26 crore civil work. The rest of the funds are for GST and other purposes," said the official. The Sindhu Art Gallery is envisioned not just as a museum but as a dynamic cultural hub. Modelled on the lines of the Ramayana Cultural Centre at Koradi, the gallery will narrate the journey of the Sindhu civilization — from the ancient settlements to the vibrant legacy of Sindhis today, said an NIT official. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 2025 Top Trending local enterprise accounting software [Click Here] Esseps Learn More Undo The experience will blend history, storytelling, art, and technology to provide visitors with an immersive understanding of the civilization's contributions to urban planning, trade, art, and language. In addition to the gallery, the complex will include a community hall, a museum, three classrooms, workshop space, library, cafeteria, mini-theatre, meditation and yoga rooms, recreation and indoor games zones, gymnasium, a 600-seat auditorium, and a banquet hall with a dedicated dining space. It will also offer accommodation through 30 guest rooms, 10 suites, and five VIP rooms. The open spaces will be equally engaging, with landscaped courtyards, an amphitheatre, and five retail shops along the entrance promenade, making it a lively and welcoming public space. Virendra Kukreja, former NMC Standing Committee Chairman, said the project will be the country's first art gallery dedicated to one of the world's oldest civilizations. "The fact that it will showcase the Indus Valley Civilization, one of the most advanced cultures of the ancient world, adds immense heritage value to the gallery. It will serve as a resource for students and heritage enthusiasts from across India for research and learning," said Kukreja, who played a key role in making the project a reality. More than just infrastructure, the Sindhu Art Gallery will be a space where heritage, identity, and community converge — reconnecting modern generations with one of the most profound chapters in Indian history.
New Indian Express
24-06-2025
- Business
- New Indian Express
Tamil Nadu government to foot the Central agency's Rs 143 crore due to paddy farmers
CHENNAI: Following the protests by farmers over delayed payments and the suspension of paddy procurement in eight non-delta districts during the peak of cultivation by the National Cooperative Consumers' Federation (NCCF), functioning under the union government's Department of Consumer Affairs, the state government has directed the Tamil Nadu Civil Supplies Corporation (TNCSC) to disburse the pending Rs143 crore directly to the affected farmers. The amount will later be recovered from the NCCF. A total of Rs 143 crore will be disbursed to around 5,000 farmers within the next seven to 10 days, officials said. NCCF had procured paddy from these farmers in the eight districts – Tiruvannamalai, Kancheepuram, Tirunelveli, Ramanathapuram, Vellore, Ranipet, Villupuram and Thiruvallur – outside the Cauvery irrigation region. Tamil Nadu's decision to disburse the amount has followed a recent request from the union government, urging the state's intervention to resolve the issue. According to officials, the NCCF had procured paddy worth Rs 810 crore from 24,000 farmers, of which Rs 667 crore has been paid to 19,000 farmers as of June 20. TNCSC, the agency responsible for paddy procurement under the central pool system, has also decided to take over the procurement operations from the NCCF in these districts. The agreement between TNCSC and NCCF earlier allowed the latter to procure paddy at minimum support price (MSP) in the eight non-delta districts.
Business Recorder
25-04-2025
- Business
- Business Recorder
Jul '24 to Mar '25: Discos' ‘inefficiencies' result in Rs221bn loss: PD
ISLAMABAD: The Power Division claims that inefficiencies of DISCOs (excess losses and under recoveries) for the period July 2024 to March 2025 stood at Rs221 billion compared to Rs364 billion during the same period of previous year, while registering a decrease of Rs143 billion. In a written reply to a question, the Senate was informed on Friday that the current per unit electricity for single phase domestic consumers for 201-300 units slab in April is Rs39. The quarterly tariff adjustment and fuel charges adjustment may change in upcoming months based on underlying economic variable. Against the Nepra-determined base rate of Rs36.89/unit for 201-300 units slab, the government of Pakistan is currently charging Rs32.55/unit and accordingly providing subsidy of Rs4.34/unit based on the socioeconomic objectives and budgetary targets in filed. The House was further informed that prime minister announced that on the consumption of April month the consumer will get benefit reduction of Rs7.41 (inclusive of taxes). This reductions in bill includes per unit reduction impact in cost of electricity and major component is due to IPPs renegotiation, some portion has already been applied through April bill through second quarter decision and FCA and remaining amount shall be passed on after hearing by Nepra for 3rd quarter. The House was also informed that Neelum Jhelum is a complex hydropower project having 68km of tunneling system. Neelum Jhelum Hydropower Project has been closed since May 2024 due to blockage in headrace tunnels. To ascertain the reasons of blockage in the tunnel, dewatering of tunnel has already been completed and debris accumulated in the tunnel is being removed. The prime minister of Pakistan has already constituted a Committee to ascertain the causes and Wapda will proceed on the recommendations of the Committee. The House was informed that the federal government, through the Public Sector Development Programme (PSDP), is financing construction of small, medium, and large dams across the country. Since 2018, 47 dam projects have been completed with federal financing, adding approximately 307,940.61 acre-feet of water storage capacity and facilitating irrigation of 296,537 acres of land. Further, provincial governments have completed 80 dam projects under their respective Annual Development Programs (ADPs) since 2018, collectively contributing an addition of 122,514 acre-feet of water storage capacity and enabling irrigation of 68;016 acres of land. In the current financial year, the federal government is sponsoring 32 dam projects which are at various stages of development. Estimated cost of these projects is Rs1,056.985 billion. Upon completion, these projects will provide a cumulative water storage capacity of approximately 8,429,288 acre-feet, bringing 436,932 acres of new land under irrigation. Provincial governments are sponsoring the construction of 79 dam projects in current financial year at an estimated cost of Rs83.400 billion. These projects once completed will collectively provide a storage capacity of approximately 347,940 acre-feet, bringing 109,966 acres of new land under irrigation. Copyright Business Recorder, 2025
Express Tribune
12-04-2025
- Politics
- Express Tribune
PHC dismisses petition against KMU fees
The Peshawar High Court (PHC) has dismissed a petition challenging a 100 per cent increase in annual fees for medical colleges, ruling that the court could not intervene in university policy matters unless there was abuse of authority or violation of statutes. A two-judge bench comprising Justice Syed Arshad Ali and Justice Dr Khurshid Iqbal heard the petition filed by 119 students including Muhammad Zulqarnain. The petitioners, students of Khyber Medical University and affiliated medical and dental colleges, claimed that the university's decision to increase fees by more than 100 per cent was unfair and violated the Khyber-Pakhtunkhwa Universities Act 2012. The petitioners' lawyer contended that the government's and university administration's decision was a violation of Section 28 of the Khyber-Pakhtunkhwa Universities Act 2012. He said that only the syndicate of a public sector university could make decisions about increases in fees and that the increases could not be more than ten per cent. On the other hand, the university's lawyer informed the court that the provincial government and Khyber Medical University formulated the admissions policy as well as the annual fees for each academic session, the students had accepted the fee structure at the time of their admission, and their enrolment in medical colleges was based on college policies and prospectuses. The court was told that the fee increase was discussed in the Khyber Medical University's Finance and Training Committee meeting in 2024 after which the fees had been raised from Rs143,000 to Rs450,000. These recommendations had been presented in the 44th meeting of the University Syndicate and later notified in the college admission policy.
