Latest news with #APP
Express Tribune
2 days ago
- Business
- Express Tribune
Aurangzeb briefs Moody's on Pakistan's reform push, stable outlook
Finance Minister Muhammad Aurangzeb speaks during a meeting with Moody's delegation in Islamabad on Tuesday. Photo: APP Listen to article Pakistan is re-entering global financial markets amid signs of macroeconomic stabilisation, with plans for its first Panda bond and ongoing talks for preferential tariff access with the United States to support an export-led growth strategy, Finance Minister Muhammad Aurangzeb said on Tuesday. In a virtual briefing with Moody's Investors Service, the finance minister outlined the country's macroeconomic turnaround, reform agenda, and external sector stabilisation efforts. Aurangzeb was accompanied by Minister of State for Finance Bilal Azhar Kayani and State Bank Governor Jameel Ahmad. The engagement, held at the Finance Division, was part of Islamabad's broader outreach strategy to regain investor confidence and improve its sovereign credit profile. According to an official statement, Aurangzeb highlighted Pakistan's recent macroeconomic gains, including a sharp drop in inflation, monetary easing through a reduction in the policy rate, exchange rate stabilization, and a current account surplus. He noted that foreign exchange reserves had crossed $14 billion by the end of June, aided by improved remittance flows and stronger export performance. The minister informed Moody's that Pakistan had successfully completed the final review under the IMF's $3 billion Stand-By Arrangement (SBA), which included the release of the final tranche. He also underscored progress under the Resilience and Sustainability Facility (RSF), terming both milestones as critical for restoring market credibility. 'The reform trajectory is firmly in place,' Aurangzeb said, pointing to recent budgetary measures aimed at fiscal consolidation, including expenditure rationalisation and a broadened revenue base. He reiterated that Pakistan is targeting a tax-to-GDP ratio of 13 to 13.5 per cent over the medium term. The Rs2 trillion revenue gain achieved this fiscal year, the minister noted, had come from autonomous administrative efforts, not through new tax measures alone. He stressed that tax reform remains a top priority under the direct oversight of the prime minister, with a focus on technology-driven enforcement, digitisation of tax systems, and plugging leakages. The team also apprised Moody's of ongoing discussions with the US regarding preferential tariff access for Pakistani exports, which Aurangzeb said were 'making encouraging headway.' The meeting served as a platform to showcase Pakistan's re-engagement with global capital markets. The finance minister revealed that $1 billion in commercial financing had already been secured from financial institutions in the Middle East. Additionally, Pakistan is actively working on launching its inaugural Panda bond — a renminbi-denominated bond to be issued in the Chinese market — and is exploring other international debt instruments, including a potential return to the Eurobond market, contingent on rating upgrades. He added that Pakistan remains committed to key structural reforms, including the privatisation and restructuring of state-owned enterprises (SOEs), as well as right-sizing of the federal government. Responding to queries, the minister reiterated that Pakistan is not looking for short-term fixes but is focused on building long-term, inclusive, and export-led growth, while expressing optimism that the reform momentum and macroeconomic stabilization would be reflected positively in future sovereign credit assessments. 'Pakistan is ready to carry forward this journey of resilience, reform, and recovery,' the finance minister concluded, signalling that the country was once again positioning itself as a credible investment destination.
Time of India
2 days ago
- Time of India
Five get life imprisonment in Aurangabad murder case
Aurangabad: The district court on Tuesday sentenced five people to life imprisonment in a murder case related to Fesar police station, which hogged limelight for a long time. The verdict was pronounced by additional district and sessions judge-X, Ashok Kumar Gupta. Along with life imprisonment under IPC Section 302/34, the court imposed a fine of Rs 20,000 on each convict. In case of non-payment, they will have to undergo an additional six months of imprisonment. Additional public prosecutor (APP), Bindeshwari Prasad Tanti, said the convicts—Gajendra Yadav, Mahendra Yadav, Md Tohid, Istekhar Ahmed and Anul Hoda—are residents of Maulanagar in Fesar. The court also awarded one year imprisonment and a fine of Rs 1,000 under IPC Section 323/34. Both sentences will run concurrently. According to advocate Satish Kumar Snehi, the case was registered on March 27, 2022, based on a complaint filed by Jamila Khatoon, a resident of Maulanagar under Fesar PS. She alleged that her husband, Isteyaq Ahmed, along with two sons—Faizan Raza and Ashif Raza—were returning home from the fields when the accused attacked them near one Mahendra Yadav's house. The accused, allegedly lying in wait, attacked the trio with sticks and spears, leaving them critically injured. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Florida: Gov Will Cover Your Cost To Install Solar If You Live In These Zip Codes SunValue Learn More Undo All three were taken to sadar hospital in Aurangabad. However, due to the deteriorating condition of Isteyaq, he was shifted to Anugrah Narayan Magadh Medical College and Hospital (ANMMCH) in Gaya, where he succumbed to his injuries on March 28, 2022. Following the incident, police launched an investigation and filed a chargesheet against all the five accused. After hearing the witnesses and examining the evidence, the court found the accused guilty and delivered the judgment.
Business Wire
2 days ago
- Health
- Business Wire
SullivanCotter Releases the 2025 Results from Industry-Leading Health Care Compensation Surveys
CHICAGO--(BUSINESS WIRE)-- SullivanCotter, the nation's leading independent consulting firm in the assessment and development of total rewards programs, workforce solutions, and data products for health care and not-for-profits, has released the latest benchmarks from this year's suite of health care compensation and workforce productivity surveys. These industry-leading surveys provide critical data and insights to help health care organizations navigate complex workforce and compensation strategies in an evolving operating environment. This year, SullivanCotter's longstanding flagship surveys included participation from nearly 4,800 health care organizations nationwide and collected data on 2.9 million incumbents. Share This year, SullivanCotter's longstanding flagship surveys included participation from nearly 4,800 health care organizations nationwide and collected data on 2.9 million incumbents. These surveys include: Health Care Management and Executive Compensation For more than 30 years, this survey has been and continues to be the largest of its kind for health care organizations nationwide. It includes data from more than 3,300 organizations on nearly 48,000 individuals. Physician Compensation and Productivity Tap into the industry's most expansive and detailed dataset with information from more than 500 organizations representing nearly 232,000 providers in 232 different specialties. Inform strategic decision-making across the APP workforce with critical benchmarks for physician assistants, nurse practitioners, and other certified clinicians (CRNAs, CAAs, and CNMs) across more than 150 specialties. This survey includes data from 800 organizations on more than 150,000 incumbents. Health Care Staff Compensation This comprehensive national survey contains data for 812 clinical and non-clinical staff positions within 20 different job families. Nursing makes up the largest subsection of this survey with data on nearly 900,000 individual RNs, LPNs, and nursing managers. With participation from more than 90% of the nation's largest 200 health care organizations, these surveys represent one of the most comprehensive sources of health care compensation and workforce benchmarks available. The results support data-driven decision-making in key areas such as executive and clinical leadership compensation, physician and APP productivity, market-competitive base pay for staff roles, and evolving compensation models across the care continuum. 'As the health care industry continues to adapt to financial pressures, workforce shortages, and shifting delivery models, organizations rely on robust, timely, and industry-specific data to make informed compensation decisions,' said Ted Chien, President and CEO, SullivanCotter. 'Our survey results help health care leaders align pay practices with performance, support engagement and retention, and maintain competitiveness in a tight labor market.' The 2025 survey reports are now available for purchase! Organizations that participated in the surveys receive discounted pricing and early access to the results. For more information or to purchase survey results, visit or contact surveys@ About SullivanCotter SullivanCotter partners with health care and other not-for-profit organizations to understand what drives performance and improves outcomes through the development and implementation of integrated workforce strategies. Using our time-tested methodologies and industry-leading research and information, we provide data-driven insights, expertise, and data products to help organizations align business strategy and performance objectives – enabling our clients to deliver on their mission, vision, and values.
The Hindu
3 days ago
- Business
- The Hindu
HDFC Bank CEO moves Bombay High Court seeking to quash FIR filed by Lilavati Trust
The Bombay High Court on Monday (July 14, 2025) adjourned till July 23, 2025, the hearing on a petition filed by HDFC Bank Managing Director and CEO Sashidhar Jagdishan seeking quashing of a First Information Report (FIR) lodged against him by a trustee of the Lilavati Kirtilal Mehta Medical Trust. The FIR accuses Mr. Jagdishan of accepting ₹2.05 crore in cash to aid alleged financial wrongdoing by one faction of the Mehta family. A Division Bench of judges, Justice M.S. Karnik and Justice N.R. Borkar heard preliminary arguments from Senior Advocate Amit Desai, appearing for the HDFC Bank CEO, who contended that the complaint was 'false, outrageous and preposterous' and part of a larger pattern of 'malafide legal harassment' by Prashant Mehta, a trustee of the hospital trust. Earlier, four judges had recused from hearing the matter. Mr. Desai informed the court that the FIR is a retaliatory move following the bank's recovery efforts against Splendour Gems (formerly Beautiful Diamonds), a company promoted by members of the Mehta family, which defaulted on loans amounting to ₹65.22 crore. A recovery certificate had been issued by the Debt Recovery Tribunal as early as 2004. He further explained that there are two factions within the Mehta family, and that after a change in control in January 2024, multiple legal proceedings were initiated by Prashant Mehta, including an earlier application under Section 156(3) CrPC alleging culpable homicide—an application that was dismissed and is now under revision. The present FIR, registered on the direction of the Bandra Magistrate under Section 175 of the Bharatiya Nagarik Suraksha Sanhita, followed a complaint submitted in September 2024 alleging discovery of a 'cash diary' indicating payments to Mr. Jagdishan. 'This is not about law—it is legal warfare. They have lost at every stage, and now they are misusing the criminal process to exert pressure on an individual,' Mr. Desai submitted. He added that a press campaign and letters to the RBI and the Bank Chairman began soon after the FIR was registered on May 31, calling for Mr. Jagdishan's removal. The court inquired whether any coercive action was anticipated, to which Mr. Desai responded in the affirmative. The Additional Public Prosecutor (APP), however, said the investigation was ongoing and now under the purview of the Economic Offences Wing (EOW). The APP requested that the matter be taken up next week, citing the emergence of fresh communication between members of the trust and former trustees. The court noted that no summons had been issued thus far and orally directed that no such action be taken until Friday. It also asked for a consolidated chart of other petitions connected to the dispute—including those filed by the Asset Reconstruction Company and a plea for transferring the investigation to the CBI. The matter will now be taken up on July 23.
Express Tribune
3 days ago
- Business
- Express Tribune
NA urged to prioritise economic legislation
PML-N-led coalition government in the Centre now has 229 members in the NA. PHOTO: APP In a significant move aimed at spurring private sector growth, the Pakistan Business Forum (PBF) has written a letter to the speaker of the National Assembly, urging parliament to declare the ongoing fiscal year as the "Year of Economic Legislation." PBF President Khawaja Mehboobur Rehman emphasised that sustainable private sector growth was only possible when parliament stood firm with the business community. He expressed hope that the speaker would play an active role in positioning the legislative branch as a true economic partner. "It is imperative that parliament leads the way in crafting legislation that binds banks to offer fair and accessible credit to the SME and startup sectors," he said. "For too long, the banking industry has operated on its own terms, refusing to extend credit to small businesses while focusing almost exclusively on lending to the government, which is an easier route." Highlighting the deep-rooted financial access issues, particularly in Balochistan, the PBF pointed to the shocking reality that many businesses in the province were effectively excluded from the credit system. The forum also raised alarm over Sections 37AA and 37B of the Finance Act, demanding their immediate revision. Mehboobur Rehman warned that those measures would cripple businesses, accelerate unemployment and damage investor confidence. The PBF strongly condemned the extraordinary powers granted to Federal Board of Revenue (FBR) officials, unjust treatment of the business community and policy decisions made without business consultation. It demanded immediate withdrawal of those measures and a halt to economic victimisation of the business community.
