Latest news with #Rs220
Express Tribune
15 hours ago
- Business
- Express Tribune
Sugar crisis deepens as retailers cut off supply
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 The sugar crisis in Punjab, including Rawalpindi, has intensified following a deadlock between sugar mills, government authorities, wholesale dealers, brokers, and retail merchants. The Retail Merchants Association has halted all purchases from sugar mills, issuing directives to retailers to sell off current stock and cease further sugar sales. Retailers with surplus stock have been advised to distribute it to smaller shopkeepers to liquidate inventory. The association warned of a severe sugar shortage next week, with prices potentially reaching Rs220/kg. Association leaders Sheikh Rizwan Shaukat and Saleem Pervaiz Butt stated they will not be blackmailed or intimidated. "Our dignity comes before profit," they said, accusing sugar mill owners of becoming untouchable due to political connections. Retailers claim they cannot sell sugar purchased at Rs176-180 per kg for Rs173 per kg, as enforced by price controls.
Express Tribune
5 days ago
- Politics
- Express Tribune
Imran Khan held in 'death cell', claims PTI
Listen to article Pakistan Tehreek-e-Insaf (PTI) has raised alarm over what it described as 'inhumane' treatment of its incarcerated founder, Imran Khan, claiming he is being held in a 'death cell' under near-total isolation. Addressing a press conference on Thursday, PTI Central Secretary for Information Sheikh Waqas Akram alleged that Khan is confined to solitary detention for 22 hours daily, denied access to newspapers, television, books, and is barred from meeting his legal team and close associates. Akram stated that the conditions amount to psychological torture and a blatant violation of basic human rights. 'Imran Khan is effectively cut off from the world. His fundamental right to meet six designated individuals is being denied, despite explicit court orders, which constitutes contempt of court,' he said. He added that similar restrictions have been imposed on Khan's wife, Bushra Bibi, who is allegedly being denied family visits, while Khan's sister, Aleema Khan, has also been prevented from seeing him. Read More: Imran Khan tells PTI leaders to end rift, focus on movement Calling on the Chief Justice of Pakistan to intervene, Akram urged the judiciary to restore its 'dwindling credibility and independence' in the face of what he termed the executive's open defiance of court rulings. 'The violation of judicial orders is not just an insult to the courts but to the entire justice system,' he remarked. The PTI spokesperson also questioned the recent disqualification of politician Jamshed Dasti, claiming that Article 62(1)(d) of the Constitution has never before been used to unseat public representatives, and alleging that constitutional provisions are now being misapplied for political engineering. Highlighting concerns over the health and treatment of other detained PTI leaders, he pointed to the 'deteriorating condition' of Shah Mehmood Qureshi, the 'systematic violation' of Dr Yasmin Rashid's rights, and the continued imprisonment of Ejaz Chaudhry despite Supreme Court orders granting him bail. On economic matters, Akram criticised the federal government over skyrocketing fuel prices, claiming petrol prices have surged by 82% over the past 15 months. 'During PTI's term, petrol prices rose by Rs51, but the current government scrapped subsidies and pushed the price to Rs220 per litre,' he said. Also Read: Imran Khan chose prison over life of comfort abroad He also accused the government of orchestrating a Rs92 billion sugar scandal, alleging that after the approval to export 765,000 metric tons of sugar, domestic supplies vanished from the market, causing prices to soar to Rs200 per kilogram. Addressing the May 9 cases, Akram claimed that the prosecution's position has collapsed following the withdrawal of a key investigating officer and the absence of primary witness Hassan Afzal. He demanded the immediate dismissal of all related cases. Expressing sorrow over the recent floods in Punjab that led to 103 deaths and the destruction of 250 homes, Akram criticised what he described as the government's inept disaster response. 'When the public protests, they are jailed. Yet, officials responsible for this negligence go unpunished,' he remarked. In closing, Akram disclosed that Khan has conveyed directives concerning the upcoming Senate elections in Khyber-Pakhtunkhwa, delegating authority for awarding Senate tickets to the provincial parliamentary party to prevent horse-trading. However, he clarified that no ticket can be issued without Khan's personal approval. 'PTI remains committed to internal democracy and transparency,' he affirmed.
Time of India
11-07-2025
- Automotive
- Time of India
Second leg of western ring road project to begin soon in Coimbatore
Coimbatore: Work on the ambitious western ring road project to decongest the city and ensure seamless traffic flow by providing an easy route for the vehicles that otherwise don't have to enter the busy city streets is likely to enter the second phase soon. Phase I of the project, which covers a distance of 11.80 kilometres from Mylkal to Madampatti, is expected to be over by the end of August or early September this year. The highways department has sent a proposal to the state govt, seeking Rs368 crore to implement phase II of the project for a stretch of 12.54 kilometres from Madampatti to Kanuvai village via West Chithiraichavadi, Kalikkanaickenpalayam, Vadavalli and Somayampalayam villages. "We have acquired 90% of the land required for executing phase II of the project. This stretch passes through agricultural fields. Once the govt approves the proposal, work on clearing the stretch will begin with the help of earth movers. The recently formed Tamil Nadu State Highways Authority will oversee the remaining two phases of the project. The phase II of the project is likely to commence in September this year, if everything goes well," said an official with the State Highways Department. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like So sánh mức trượt giá: Hợp đồng tương lai (CFD) Bitcoin vs Ethereum IC Markets Tìm hiểu thêm Undo He said the 12.54km stretch to be developed in the second phase would feature 40 culverts, small bridges and three vehicular underpasses. "The work will commence after obtaining administrative sanction from the state govt." The highways department is, meanwhile, planning to send a proposal for the third and final phase of the project to the state govt. In this phase, road would be laid for a stretch of 8.09 kilometres from Kanuvai to Narasimmanaickenpalayam at a cost of Rs220 crore. This stretch would feature 24 culverts, small bridges and two vehicular underpasses. The state govt had earlier sanctioned Rs250 crore for the first phase of the project, which is being expedited now. Once the western ring road is ready, traffic congestion in the city will be reduced drastically. People traveling to Ooty from Palakkad Road wouldn't have to enter the city. They could take the western ring road to reach Narasimmanaickenpalayam from Mylkal for a smooth travel.
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.
Business Recorder
03-06-2025
- Business
- Business Recorder
11,614 USC employees removed following closure of 1,925 outlets
ISLAMABAD: The government has shut down 1,925 loss-making Utility Stores outlets countrywide being operated by the Utility Stores Corporation (USC) and 4,060 out of a total 11,614 employees were sacked. Briefing the Senate Standing Committee on Industries and Production held here under the chairmanship of Senator Aon Abbas to discuss matters pertaining to various attached departments of the Ministry of Industries, Managing Director Utility Stores Faisal Nisar Chaudhry said the closure of these outlets has resulted in saving of Rs1.7 billion. The MD USC said that if the management failed to privatise the USC annually Rs7 billion will be required to pay the salaries of the employees. The MD of the USC told the committee that for the time being, the privatisation process had been stopped because of a lack of its audit for two years. 'The privatisation will take place after the audit is complete,' the USC MD said, adding that 5,000 permanent employees would be sent to the surplus pool, while 2,554 employees still on contracts and on daily wage basis would be laid off. He added that the USC was on the government's privatisation list. 'The target is to complete the two-year audit in August 2025' after which the privatisation would be carried out, the MD stated. He also informed the committee that an initial estimate of the USC properties had been made. According to the USC MD, there were 3,742 Utility Stores across the country, out of which, the government has shut down 1,925 loss-making stores. After the privatisation, only 1,500 stores would require staff. He also said that the USC's monthly losses had been reduced to Rs220 million. The chairman committee inquired the present status of Rightsizing in Utility Stores Corporation (USC). The department briefed the committee that restructuring/rightsizing plan aimed at the eventual privatisation of the USC was formally approved by the USC Board of Directors during its 185th meeting held on 27th December 2024. The USC is being restructured under the restructuring plan according to which the loss-making stores of the corporation are going to be closed and surplus staff thereafter is being laid off. As part of the ongoing restructuring plan of USC, 1,925 stores have been closed and around 4,060 employees (1,823 contractual and 2,237 daily wages) have been laid off. It was also disclosed that the USC will not have sufficient funds to pay salaries to its 5,000 employees beyond next month, due to the closure of a significant number of its outlets. The USC officials informed the committee that the secretary had forwarded recommendations at the highest level, requesting that Rs7 billion funds be allocated for USC in the upcoming budget. The MD USC said that the stores were running on government subsidies and now the government has decided to even provide Ramadan relief package through Benazir Income Support Programme (BISP) to needy people. He said that USC's outstanding payment stand at Rs25 billion. The MD USC further stated that the management has decided to offer golden handshake scheme to 25 percent of the USC employees, otherwise, Rs2.7 billion annually will be spent on the salaries of these employees. The chairman committee recommended that details of the employees recruited in 2007 and 2013 should be submitted in the next meeting, from each province providing 10 office orders. This will enable the committee to assess the duration of their contractual appointments. Additionally, it was recommended that representatives from the Board of Directors (BOD), CBA Union, and PC should be invited to the next meeting. The meeting also discussed the role, functions and achievements of Pakistan Industrial Development Corporation (PIDC). The officials, while briefing the panel on PIDC, said that at the time of its creation, Pakistan did not inherit any industrial base as East and West Pakistan combined had only 34 factories out of a total of 921 industrial units in the Subcontinent i.e. 3.6 per cent. They said that the 34 industrial units including, textile mills, cigarettes, rice husking, cotton ginning and flour milling, contributing only 7 percent of GDP and employing only 26,400 people out of an 80 million population at that time. The East Wing produced 70 percent of the world's jute, but there was not a single jute mill and West Bengal (India) was almost the sole buyer. In the West wing, only 16,000 of the total 15,00,000 cotton bales produced could be processed domestically. Further, they told that industrial units setup by PIDC between 1952-1984 were 94 and country's industrial growth during 1953-63 remained around 19.1 per cent which was almost solely due to PIDC. In 2005/06, a number of Section-42 (not-for-profit) Companies and Common Facility Centres were created as wholly-owned subsidiaries of PIDC for intervention in various sectors including gems and jewellery, marble/granite, handicrafts, sporting arms, dies and moulds, technology upgradation for skill imparting, setting up Common Facility Centres and introducing modern technology. The PIDC provided seed money for their establishment. However, the companies had their own independent management and boards, directly appointed by the government, relevant department stated. The committee was informed that the seed money provided is not recovered, rather it is treated as a grant or donation. The committee was apprised of the current status of PIDC projects. It was informed that Bin Qasim Industrial Park – SEZ (Karachi, Sindh), Korangi Creek Industrial Park – SEZ (Karachi), and Rachna Industrial Park – SEZ (Sheikhupura) have been developed. Naushahro Feroze Industrial Park – SEZ (Sindh) is currently under development. Block-A of Karachi Industrial Park – CPEC SEZ has received PC-1 approval (Rs7.4 billion), and the tendering process is underway. Additionally, Sargodha Industrial Park (Punjab) is also being developed. Following the briefing, Senator Saleem Mandviwalla expressed concerns regarding the Port Qasim area, stating that a significant land has no industrial unit established and land is so expensive that an investor would have to spend most of their funds just to acquire the land, leaving little to no resources for setting up the industry. He added that such conditions are unlikely to attract foreign investors, and even if they do come, the challenges are so overwhelming that they eventually withdraw. Copyright Business Recorder, 2025
