Latest news with #Rs195
Express Tribune
5 days ago
- Business
- Express Tribune
Sugar prices up as supply suspended
Sugar mills in Sindh and Punjab have stopped the supply of sugar to markets since last Friday. According to the Chairman of the Wholesale Grocers Association, Rauf Ibrahim, due to the halt in supply from mills over the past four days, only stored sugar is being sold in Karachi. As a result, the wholesale price of sugar has risen from Rs180 to Rs182 per kg, while the retail price has increased from Rs195 to Rs200 per kg against government's fixed price of Rs164 per kg. He said that due to the government's lack of interest in taking action against sugar mill owners and hoarders, sugar prices are rising. Rauf Ibrahim alleged that sugar mafia is behind this crisis.
Express Tribune
7 days ago
- Business
- Express Tribune
Anti-hoarding push puts brakes on runaway sugar price
Mounting pressure from industry stakeholders and calls for a crackdown on hoarding have brought a halt to the recent surge in sugar prices, with both retail and wholesale rates showing signs of decline. According to Abdul Rauf Ibrahim, Chairman of the Wholesale Grocers Association, the retail price of sugar has dropped from Rs200 to Rs195/kg in recent days. Similarly, the wholesale price has fallen from Rs185 to a range of Rs178-180/kg. Rauf attributed the price correction to growing scrutiny over speculative hoarding. He claimed that around 2.6 million tons of sugar are currently being held back from the market for profiteering and smuggling. Rauf also cautioned against proposed sugar imports, saying that domestic production is sufficient to meet local demand. He warned that importing sugar at this stage would be economically detrimental, potentially costing the country more than $265 million in foreign exchange at a time of severe fiscal strain.
Business Recorder
10-07-2025
- Business
- Business Recorder
ZTBL refutes media reports
ISLAMABAD: Zarai Taraqiati Bank Ltd (ZTBL) on Wednesday refuted media reports that misrepresented its position on missing and burnt loan files, following proceedings of the Public Accounts Committee (PAC). In a statement issued here, ZTBL said 27,537 loan files were destroyed in 2007 during protests after the tragic assassination of ex-prime minister Benazir Bhutto. The bank has since reconstructed records, reducing the number of burnt files to 5,201 by recovering outstanding loan amounts. The outstanding and recoverable amount linked to these 5,201 burnt and an additional 790 missing files – out of over 600,000 borrowers – is approximately Rs1.167 billion, averaging less than Rs195,000 per borrower. The bank emphasised that all these loans are small-scale agricultural loans, and the bank is in the process of recovering or adjusting the residual amounts. Copyright Business Recorder, 2025
Business Recorder
09-07-2025
- Business
- Business Recorder
‘Stance of ZTBL misreported'
ISLAMABAD: Referring to the proceedings of Public Accounts Committee (PAC) held on Tuesday (July 8, 2025), a section of electronic media has misreported the stance of Zarai Taraqiati Bank Ltd (ZTBL) regarding missing/burnt loan files and amounts outstanding against these cases. The fact is that as many as 27,537 loan case files were burnt in 2007 by protesters after the assassination of former prime minister Mohtarma Benazir Bhutto Shaheed. The number of burnt files has gradually been reconstructed and reduced to 5201 by recovering the outstanding loan amount. The amount outstanding and recoverable against the remaining 5201 burnt and 790 missing files (out of over 600,000 borrowers) is Rs1,167 million only, which comes to less than Rs195,000/- per borrower as all these loans are small loans to farmers. As stated above ZTBL is recovering/adjusting residual amount in all above such cases in due course of time accordingly. Copyright Business Recorder, 2025
Business Recorder
14-06-2025
- Business
- Business Recorder
KP allocates record Rs547bn under ADP
PESHAWAR: Khyber Pakhtunkhwa government has earmarked a record allocation of Rs547billion under the Annual Development Program for Financial Year 2025-26, showing an increase of more than 40 percent as compared to the last fiscal year. Of the total allocation, Rs195 billion are earmarked for settled districts — reflecting a 21 percent increase from the previous year. For the tribal districts, Rs294 billion are proposed to cover both current expenditures and development work, according to the budget documents. The ADP for financial year 2025-26 includes 1342 ongoing and 810 new development schemes. A sum of Rs7,251.442 million has been allocated to complete 46 schemes in the agriculture department including 28 ongoing and 18 new schemes. KP govt to present Rs2trn budget today However, an amount of Rs1,563.961 million has been set aside to complete 31 schemes in the departments of auqaf, hajj, religious & minority affairs, including 18 Ongoing and 13 new projects. Also, a sum of Rs 1,631.997 million has been allocated to complete 31 schemes in Board of Revenue including 21 ongoing and 11 new projects. Likewise, an amount of Rs45,600 million has been allocated to complete four schemes in district ADP. An amount of Rs10,859.223 million has been earmarked to complete 74 schemes in drinking water and sanitation sector including 50 ongoing and 24 new projects. Under the ADP fiscal year 2025-26, a sum of Rs13,513.127 million has been tagged to complete 96 schemes in elementary and secondary education including 67 ongoing and 29 new schemes. An amount of Rs 4,797.802 million has been earmarked to complete 59 schemes of energy and power department including 41 ongoing and 18 new projects. Similarly, a sum of Rs Rs93.261 million has been set aside to complete 5 schemes in the environment department including three ongoing and two new projects. An amount of Rs1,219.705 million has been allocated to complete 24 projects in establishment and administration departments including 15 ongoing and 9 new projects. Also, a sum of Rs248.181 million has been allocated to complete 12 schemes in excise, taxation and narcotics control department, including five ongoing and seven new projects. An amount of Rs338 million has been allocated to complete 4 ongoing projects in the finance department. For the food department, a sum of Rs338.001 million has been earmarked to complete eight projects including 6 ongoing and two new schemes. An amount of Rs4,239.615 million is tagged to complete 62 projects in the forestry department including 33 ongoing and 29 new projects. A huge chunk of Rs27,240.244 million has been allocated to complete 182 projects in the health department including 89 ongoing and 93 new projects. For higher education, Rs6,274.241 has been allocated to complete 63 projects including 49 ongoing and 14 new projects. For the home department, Rs 6,997.224million has been allocated to complete 46 ongoing and 22 new projects. For the housing department, Rs817.463 million has been earmarked to complete 11 ongoing and five news projects. For the industries department, Rs2,853.865 million has been allocated to complete 18 ongoing and 22 new projects. A sum of Rs81 million has been allocated to complete six projects in the information department including four ongoing and two new projects. For the labour department, Rs210.430 million has been allocated to complete three ongoing and 3 new projects. An amount of Rs6,460.661 million has been allocated to complete 42 projects in the Law and Justice Department, including 32 ongoing and 10 new projects. For Livestock & Dairy Development, an amount of Rs4,078.87 million has been set aside to 23 ongoing and 22 new projects. For the Local Government department, a sum of Rs5,978.676 million has been allocated to complete 13 ongoing and 11 new projects. For the Mines & Minerals development, an amount of Rs290.173 million has been allocated to complete five ongoing and eight new projects. For Multi Sectoral Development, Rs 54,279.801 million has been allocated to complete 71 ongoing and 60 new projects. For the Population Welfare department, Rs 646.27 million has been earmarked to complete four ongoing and four new projects. For the Public Private Partnership, Rs250.000million has been allocated to complete one ongoing scheme. Under the ADP 2025-26, for relief & rehabilitation, a sum of Rs 3,200.214 million has been earmarked to complete 26 schemes including 22 ongoing and four new projects. For the roads and infrastructure development, an amount of Rs 53,641.613million has been allocated to complete 583 schemes including 362 ongoing and 221 new projects. For the royalties & cess development, a sum of Rs6,500.84 million has been allocated to complete 11 projects including four ongoing and seven new projects. An amount of Rs1,548.590 has been earmarked to complete 22 schemes in the Science and Information Technology department, including 15 ongoing and seven new projects in the next financial year. For the social welfare department, an amount of Rs1,785.737 has been allocated to complete 32 schemes including 24 ongoing and eight new projects. For the sports department, a sum of Rs8,883 million has been earmarked to complete 51 schemes including 32 ongoing and 19 new projects. For the tourism development, an amount of Rs4,466.126 million has been set aside to complete 60 projects including 37 ongoing and 23 new projects. An amount of Rs1,285.195 million has been allocated to complete 10 schemes in the transport department including five ongoing and five new projects. For urban development, an amount of Rs44 9,345.238 million has been allocated to complete more than 44 projects including 35 ongoing and 9 new projects. For the water sector, an amount of Rs25,105.204 million has been allocated to complete 220 projects including 151 ongoing and 69 new projects in the upcoming fiscal year. Copyright Business Recorder, 2025
