Latest news with #Rs320
Time of India
15-07-2025
- Politics
- Time of India
CM will hold meeting on MIDC issues in Pimpri Chinchwad, says minister Misal
Pune: Minister of state Madhuri Misal on Monday said chief minister Devendra Fadnavis would soon convene a meeting to address various issues industrial units and residents faced in MIDC areas in and around Pimpri Chinchwad. Responding to concerns raised by BJP MLA Mahesh Landge in the ongoing assembly session, Misal admitted to problems in MIDC zones and said a joint meeting would be held soon at the chief minister's office in Mumbai. She said officials concerned from different government departments and representatives from industrial associations would be invited for this meeting. Landge highlighted that there were a total of 3,470 industrial units in Pimpri Chinchwad. They faced persistent infrastructure issues such as poor roads, drainage problems and unreliable power supply despite paying around Rs320 crore annually in taxes to the municipal corporation, he said. You Can Also Check: Pune AQI | Weather in Pune | Bank Holidays in Pune | Public Holidays in Pune Waterlogging was reported in the "J Block" area of Bhosari MIDC last month. It was later revealed that several natural streams were blocked because of illegal constructions. Sandeep Belsare, the president of Pimpri Chinchwad Small Industries Association, said, "Frequent and long power cuts are one of the major problems in Bhosari MIDC. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Forget Furosemide, Use This Household Item To Help Drain Edema Fluid WellnessGuide Learn more Undo It is affecting the overall production and the issue remains unresolved despite many meetings with officials concerned." He said, "There is no sewage line in MIDC areas and the condition of several roads is very poor. The road connecting Indrayani Chowk and Bhosari MIDC police station is filled with potholes." Belsare said the industrialists had been demanding a dedicated effluent treatment plant (ETP), but there had been no progress on this matter despite meetings with officials of PCMC, MIDC and the industries minister. The industrial units of Pimpri Chinchwad had been demanding the authorities set up a plant to process hazardous waste because they had to transport it to Ranjangaon MIDC, almost 60km away. Landge said industrialists in Chakan MIDC faced similar issues. They had even threatened to launch a protest against the poor condition of roads and heavy traffic congestion. Misal admitted to similar infrastructure issues in Nashik MIDC areas. She said out of a 68km road network in Satpur and Ambad MIDC areas of Nashik, the administration had constructed 15km of new roads. The minister said the work on the remaining ones had been planned. She said the municipal corporation of Nashik had been directed to start work on the new drainage line to prevent flooding in the area. Responding to Congress MLA Amit Deshmukh's demand for a standard operating procedure (SOP) to address multi-agency issues in MIDC areas across Maharashtra, Misal assured the House that appropriate action would be taken on the matter. Pune: Minister of state Madhuri Misal on Monday said chief minister Devendra Fadnavis would soon convene a meeting to address various issues industrial units and residents faced in MIDC areas in and around Pimpri Chinchwad. Responding to concerns raised by BJP MLA Mahesh Landge in the ongoing assembly session, Misal admitted to problems in MIDC zones and said a joint meeting would be held soon at the chief minister's office in Mumbai. She said officials concerned from different government departments and representatives from industrial associations would be invited for this meeting. Landge highlighted that there were a total of 3,470 industrial units in Pimpri Chinchwad. They faced persistent infrastructure issues such as poor roads, drainage problems and unreliable power supply despite paying around Rs320 crore annually in taxes to the municipal corporation, he said. Waterlogging was reported in the "J Block" area of Bhosari MIDC last month. It was later revealed that several natural streams were blocked because of illegal constructions. Sandeep Belsare, the president of Pimpri Chinchwad Small Industries Association, said, "Frequent and long power cuts are one of the major problems in Bhosari MIDC. It is affecting the overall production and the issue remains unresolved despite many meetings with officials concerned." He said, "There is no sewage line in MIDC areas and the condition of several roads is very poor. The road connecting Indrayani Chowk and Bhosari MIDC police station is filled with potholes." Belsare said the industrialists had been demanding a dedicated effluent treatment plant (ETP), but there had been no progress on this matter despite meetings with officials of PCMC, MIDC and the industries minister. The industrial units of Pimpri Chinchwad had been demanding the authorities set up a plant to process hazardous waste because they had to transport it to Ranjangaon MIDC, almost 60km away. Landge said industrialists in Chakan MIDC faced similar issues. They had even threatened to launch a protest against the poor condition of roads and heavy traffic congestion. Misal admitted to similar infrastructure issues in Nashik MIDC areas. She said out of a 68km road network in Satpur and Ambad MIDC areas of Nashik, the administration had constructed 15km of new roads. The minister said the work on the remaining ones had been planned. She said the municipal corporation of Nashik had been directed to start work on the new drainage line to prevent flooding in the area. Responding to Congress MLA Amit Deshmukh's demand for a standard operating procedure (SOP) to address multi-agency issues in MIDC areas across Maharashtra, Misal assured the House that appropriate action would be taken on the matter.
Express Tribune
14-06-2025
- Business
- Express Tribune
PPP distances itself from budget prep
The Pakistan People's Party (PPP) has rejected the federal budget and voiced strong reservations over the Punjab government's alleged disregard of the party in the budget-making process, sparking a war of words between PPP's Hassan Murtaza and Punjab Information Minister Azma Bukhari. Speaking at a press conference at the PPP Model Town Secretariat, Hassan Murtaza, General Secretary of PPP Central Punjab, said the party was neither consulted nor were its suggestions included in the budget. "The people will receive no relief from either the federal or the expected Punjab budget," he said, criticising the government's economic policies and claiming that the region's peace was being threatened by a 'Modi-style' mind-set. Murtaza also used the occasion to launch a scathing critique of international powers, particularly the US and Israel, and questioned the credibility of global institutions like the United Nations. "The Muslim Ummah is being forced to recite verses of jihad; this is the same strategy Modi used against Pakistan," he said, adding that Pakistan must strengthen its economy as much as its defense. He lambasted the imposition of heavy taxes on agriculture, calling it a death knell for farmers. "From petrol to fertilisers and seeds, everything has been taxed. And yet, wheat is being sold cheap while sugarcane is purchased on credit and sugar is sold in cash," he said. Murtaza accused the Punjab government of operating a sugar mill mafia and claimed that rose water worth Rs320 million was sprayed on Lahore's roads while basic facilities remained unavailable to the poor. He also criticised Punjab Chief Minister Maryam Nawaz for allegedly misusing public funds for personal branding. "Maryam Nawaz is so obsessed with self-promotion that even dustbins carry her picture. But she can't include the Prime Minister, her own uncle, in those images," he said. Hitting back at the provincial government's performance, he said it had failed to deliver during its 16-month tenure. "If you're putting your face on dustbins, then own up to the inflation too," he remarked. He also condemned the recent imposition of 18% tax on solar panels and said future taxes on essentials like oxygen would be the logical next step if such policies continued. Murtaza criticised the 10% salary hike for government employees, terming it insufficient and demanded a 50% increase instead. He also denounced what he called the humiliation of medical professionals and accused the government of pushing various departments to protest at Charing Cross rather than enabling them to serve in offices. While reiterating the PPP's commitment to institutional reform, Murtaza said his party was ready to work with the government to fix the system but would not support exploitative policies. He also opposed the proposed advertising bill and urged Pakistan to align itself more strongly with neighbouring Iran. In a sharp rebuttal, Punjab Information Minister Azma Bukhari dismissed Murtaza's remarks, saying, "A person who couldn't even win his own seat shouldn't be lecturing us." She claimed that in private gatherings, even Murtaza admitted that Chief Minister Maryam Nawaz's governance was the real reason PPP lost ground in Punjab. "Maryam Nawaz is not just making promises, she is fulfilling them. She's delivering real relief to people and translating dreams into reality," Bukhari said. Referring to Murtaza's recent visit to Sambrial, she said he had witnessed the government's work firsthand. Bukhari further slammed the PPP leader for rejecting a budget that hadn't even been presented. "This shows the state of your political judgment," she added. She emphasised that governments with vision can show results even in 16 months, while those lacking direction fail even after 16 years.
Express Tribune
30-04-2025
- Business
- Express Tribune
RCB prepares Rs7.5b interim budget
The Rawalpindi Cantonment Board has prepared an interim, balanced budget amounting to Rs7.5954 billion for the fiscal year 202526. The preliminary approval was granted during a board meeting attended by both elected and nominated members, while the final approval will be issued by the competent authority, the regional director of Military Lands and Cantonments (MLC). According to sources, the new budget allocates Rs350 million for new works and Rs320 million for maintenance and repairs (M&R). An amount of Rs3.208 billion has been set aside for pensions. A significant portion of the budget will be spent on non-developmental expenditures, including utilities such as electricity, gas, telephone, POL (petroleum, oil, lubricants), stores, workshops, water supply, and sanitation. The previous fiscal year's budget (202425) stood at Rs6.59971 billion, with Rs500 million allocated to original works and Rs310 million to M&R.
Express Tribune
08-04-2025
- Business
- Express Tribune
Gold prices fall in Pakistan amid global downturn
Listen to article The price of gold in Pakistan fell by Rs2,000 per tola on Tuesday, following a drop in international gold prices. The gold was priced at Rs318,000 per tola in the local market, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). The price of 10 grams of gold also declined, dropping Rs1,715 to Rs272,633. Gold prices have been on a downward trajectory due to global economic uncertainties. On Saturday, the price per tola had reached Rs320,000, following a single-day fall of Rs5,500. The international price of gold decreased on Tuesday, with the rate dropping by $28 to $3,010 per ounce, according to APGJSA. Meanwhile, silver prices saw a marginal drop of Rs50, settling at Rs3,170 per tola.
Express Tribune
20-03-2025
- Business
- Express Tribune
SBP reserves rise $49m
Listen to article The State Bank of Pakistan's (SBP) foreign exchange reserves increased $49 million to $11.15 billion during the week ended March 14, 2025. With this, the country's total liquid foreign currency reserves reached $16.02 billion, of which $4.87 billion was held by commercial banks. In its statement released on Thursday, the central bank cited no reason for the increase in reserves. Financial industry players hope that Pakistan's reserves will increase further following the potential release of a second loan tranche of over $1 billion by the International Monetary Fund (IMF). The approval of IMF's first review under the $7 billion Extended Fund Facility will also unlock additional external financing from other multilateral creditors. Meanwhile, gold prices in Pakistan surged further, mirroring the upward trend in international markets. In the local market, the price of gold per tola rose Rs1,800, reaching a new high of Rs320,800. Similarly, 10-gram gold was priced at Rs275,034, higher by Rs1,543, according to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA). Thursday's rise follows an increase of Rs1,650 to Rs319,000 per tola a day ago. The international bullion rate also registered an uptick on Thursday, with prices climbing $12 to $3,050 per ounce (including a $20 premium), as reported by the APSGJA. Globally, gold prices eased after hitting a record high earlier in the session, but it had a bullish outlook driven by potential rate cuts signalled by the US Federal Reserve and ongoing geopolitical and economic uncertainties. Spot gold was down 0.4% at $3,036.13 an ounce due to profit-taking, after hitting a record high of $3,057.21. Trump, meanwhile, criticised the Fed's decision to hold rates, despite projections of two quarter-percentage-point cuts by year-end due to a weakening economic growth. Moreover, the Pakistani rupee remained mostly stable against the US dollar, recording a slight depreciation of 0.01% in the inter-bank market. By the end of trading, the rupee stood at 280.23, down just two paisa compared to the previous day's close at 280.21. The SBP conducted an open market operation through a reverse repo (injection) on Thursday. A total of around Rs888 billion was offered, which was fully accepted at a rate of 12.06% per annum for an eight-day tenor. The central bank received nine bids, all of which were accepted. This liquidity injection is aimed at stabilising market conditions and ensuring adequate cash flow within the financial system. Furthermore, the Central Directorate of National Savings (CDNS) revised upwards profit rates for various National Savings Schemes. The Short-Term Saving Certificate saw a 15-basis-point (bps) hike, with the return reaching 10.96% from 10.81%. For the Defence Saving Certificate, a marginal 1bps increase was made as it offered a return of 12.15%, up from 12.14%. Similarly, returns on the Pensioner Benefit Account, Behbood Savings Certificate and Shuhada Family Welfare Account were increased by 10 bps to 13.68% each. The Sarwa Islamic Term Account and the Sarwa Islamic Saving Account saw a more significant rise of 70 bps, with returns climbing from 9.74% to 10.44%. However, the Saving Account rate was reduced by 100 bps, from 11.5% to 10.5%.
