Latest news with #Rs242
Time of India
07-07-2025
- Business
- Time of India
Expedite power projects in Nagpur, Amravati: CM
Nagpur: Chief minister Devendra Fadnavis on Monday directed energy department officials to accelerate execution of approved electricity infrastructure projects in Nagpur and Amravati to meet the rise in power demand from expanding industrial, commercial, and residential sectors. He also called for a long-term energy roadmap up to 2035 to accommodate future population growth. "The demand for electricity is increasing rapidly in Nagpur and Amravati due to the surge in investments in infrastructure and industry," Fadnavis said while chairing a high-level review meeting at Vidhan Bhavan. "All works approved under the current allocation must be completed without delay. We must proactively plan for emerging needs." The CM emphasised the importance of protecting underground power cables from damage during other infrastructure works and recommended the use of secure cable ducts in all upcoming projects. "Safety and longevity of our distribution systems must be a top priority," he added. Officials said that an additional Rs713 crore was required for electricity projects in Nagpur district and Rs242 crore for Amravati. The CM stated that this requirement must be incorporated into financial planning. Fadnavis also directed the speedy implementation of projects under the revamped power sector reforms, including the Kusum-B scheme, the 'Solar Pump for All' initiative, capacity upgrades for transformers, and the establishment of new substations in both districts. The meeting was attended by revenue minister Chandrashekhar Bawankule, energy minister Atul Save, minister of state for finance Ashish Jaiswal, minister of state for energy Meghana Bordikar, and local MLAs Ashish Deshmukh, Mohan Mate, Pravin Datke and Charan Singh Thakur. Key bureaucrats including principal secretary to CM Ashwini Bhide, ACS (energy) Abha Shukla, secretary Srikar Pardeshi, environment secretary Jayshree Bhoj, and top officials from Mahavitaran, Mahatransco, MahaGenco, and MahaUrja were also present. Nagpur collector Dr Bipin Itankar joined via video link.
Business Recorder
29-05-2025
- Business
- Business Recorder
Dost Steels secures Rs2.08bn investment
Dost Steels, in a move to stabilise its financial position, has entered into a restructuring agreement with a consortium of banks, backed by a substantial investment commitment from Muhabbat Khan and Zahir Khan. The two investors have pledged a total of Rs2.08 billion and extended personal guarantees for the repayment of the company's outstanding bank loans, the listed company disclosed in its filing to the Pakistan Stock Exchange (PSX) on Thursday. 'Muhabbat Khan and Zahir Khan who have agreed to make an investment of Rs2.08 billion in the company and who have given personal guarantees to banks for repayment of bank loans on which basis the company has signed a restructuring agreement with banks whereby Rs2.08 billion will be paid by the company in sixteen quarterly instalments to the consortium of banks,' read the notice. Dost Steels Limited fails to resume operations amid financial challenges The company said that as part of the restructuring agreement with banks, Muhabbat Khan has paid an amount of Rs50 million as a down payment to the consortium of banks. Following the development, the share price of Dost Steels Limited increased to Rs9.21, up by Re0.07 or 0.77%. As per the company's latest financial results, the company incurred a loss of Rs242 million in FY24. Dost Steels Limited was incorporated in Pakistan on March 19, 2004, as a private limited company under the Companies Ordinance, 1984 now the Companies Act, 2017. The principal business of the company includes manufacturing steel, direct reduced iron, sponge iron, hot briquetted iron, carbon steel, pig iron and special alloy steel in different forms, shapes and sizes that can be manufactured within the existing facilities.
Business Recorder
04-05-2025
- Business
- Business Recorder
Gold prices continue to fall
KARACHI: Gold prices continued to fall on Saturday, as world market declined below $3,250 per ounce, traders said. The precious metal lost further Rs2, 300 to Rs242,200 per tola and Rs1,972 to Rs293,381 per 10 grams, according to All Pakistan Sarafa Gems and Jewelers Association. Domestic silver prices also dropped by Rs45 and Rs39, settling for Rs3,382 per tola and Rs2,899 per 10 grams, respectively, the association added. It is worth noting that the open market may trade gold and silver at different prices as compared to those fixed by the association. World market offered gold bullion at $3,240 per ounce, plunging by $23 while silver was selling at $32 per ounce, the association said. Copyright Business Recorder, 2025
