Latest news with #NMMC
Mint
2 days ago
- Business
- Mint
The surging gold price is boosting Central Asia's economies
Tian Shan—the name for the mountains that cross Kazakhstan, Uzbekistan and Kyrgyzstan—roughly translates as 'Mountains of Heaven". It is fitting for a range that is dotted with gold mines, including Kumtor, one of Central Asia's largest and a symbol of Kyrgyz national pride. Moreover, it is not just the mountains of Central Asia that hold big reserves. Hundreds of kilometres to the west, in Uzbekistan's Kyzylkum Desert, sits Muruntau, the world's largest open-pit gold mine. Now the good times are rolling. The price of gold has more than doubled since 2019. In March it breached $3,000 per troy ounce for the first time. That is good news for both governments and miners in the poor but mineral-rich Central Asian states. The yellow metal is the biggest export for Kyrgyzstan, Tajikistan and Uzbekistan, and one of the biggest in Kazakhstan, the region's largest and richest economy. Indeed, the Uzbek Navoi Mining and Metallurgical Company (NMMC), which operates the Muruntau mine, is the world's fourth-largest gold producer. It accounted for almost one-sixth of the Uzbek state's revenue in 2023, when prices were significantly lower than they are today. The European Bank for Reconstruction and Development forecasts average economic growth of 5.7% for Central Asia this year—well above its forecast of 3.2% for emerging markets in general. The gold boom has made life easier for the region's central bankers. After the Kazakh tenge struck a record low against the dollar in January, the country's policymakers sold some of their gold reserves—the value of which had soared to a record $25.9bn in October—to prop up the currency. Little surprise, then, that the region's leaders are eager to mine still more gold. Under his 'Uzbekistan 2030" strategy, Shavkat Mirziyoyev, the country's president, seeks 50% more production by the end of the decade. Mr Mirziyoyev wants to reduce the government's role in the economy and entice foreign capital. To that end, the state-owned NMMC is reportedly planning an initial public offering (in London, with a rumoured valuation of more than £4bn, or $5.2bn). China has also invested in Central Asian gold-mining as part of its Belt and Road Initiative, focusing on Tajikistan, the region's poorest country. In 2018 it agreed to build a power station in return for the right to develop the Upper Kumarg gold mine. Foreign investors have not always had an easy time in the region. Kyrgyzstan's Kumtor mine had for decades been run by Centerra Gold, a Canadian company. In 2021, amid tax disputes and allegations of environmental damage, it was taken over by the government of Sadyr Japarov, Kyrgyzstan's nationalist president. In ordinary times, that might give overseas investors pause. But gold is alluring, especially when prices are this high. Correction (May 30th 2025): An earlier version of this article wrongly stated that central banks in Kazakhstan and Uzbekistan had used gold to settle their own transactions. Sorry.
Hindustan Times
2 days ago
- Health
- Hindustan Times
Navi Mumbai reports 20 Covid cases in a week; civic body steps up vigil
NAVI MUMBAI: With 20 Covid-19 cases reported in the past week, the Navi Mumbai Municipal Corporation (NMMC) has stepped up preventive measures to curb any potential surge. The civic body has assured residents that there is no cause for panic, as systems are in place to ensure timely detection and effective response. According to officials, 87 tests have been conducted so far — 85 RT-PCR and two Rapid Antigen Tests (RATs). While four positive cases were detected on Wednesday, one more was reported on Thursday, taking the week's tally to 20. Of these, three patients have already recovered, officials confirmed. Rapid Antigen Tests are quick diagnostic tools that detect specific proteins from the virus, offering results within 15 to 30 minutes. Though less sensitive than RT-PCR tests, they are useful for mass screening and immediate results. Municipal Commissioner Kailas Shinde held a high-level review meeting with senior health officials to assess the situation and reinforce preparedness. 'I have directed health teams to ramp up both RT-PCR and Rapid Antigen testing,' said Shinde. 'We are ensuring adequate stock of essential medicines, PPE kits, surgical supplies, oxygen, and oxygen beds. Five beds have been reserved in each of the civic-run hospitals in Vashi, Airoli, and Nerul.' All medical and paramedical staff have been placed on alert, with specific responsibilities assigned to ensure coordinated action. Shinde further appealed to residents to remain calm and vigilant. 'The NMMC is fully equipped to manage the current situation. Citizens must continue to maintain personal hygiene and seek medical attention immediately if they experience symptoms like cold, cough, or fever,' he said.
Time of India
23-05-2025
- Business
- Time of India
Pay property tax by June 30 & get 10% discount: Navi Mumbai civic body
NAVI MUMBAI : After collecting a record Rs 826 crore in property tax in 2024-25 and setting an ambitious target of Rs 1,200 crore for the 2025-26 fiscal, Navi Mumbai Municipal Corporation (NMMC) announced a 10% 'Early Bird' discount on general tax for property owners who pay their 2025-26 bills by June 30. NMMC commissioner Kailas Shinde said the 2025-26 property tax bills are now accessible online. Among the other initiatives to encourage timely tax payments and boost civic revenue is the implementation of a single annual bill distribution system from 2025-26, replacing the earlier practice of distributing bills twice a year. NMMC has also upgraded the online payment system and roped in women from self-help groups to handle the physical bill distribution. "Property tax bills for 2025-26 can now be accessed through www(dot)nmmc(dot)gov(dot)in and the 'MY NMMC - My Navi Mumbai' app. A 10% discount on general tax awaits those who settle their bills by June 30, 2025," said Shinde. "Previously, the corporation distributed bills twice annually to over 3.5 lakh property owners. Limited staff caused delays in distribution and tax collection. Hence, I have instructed swift distribution with additional personnel, implementing a single annual distribution system. The property tax department has recruited women from self-help groups to ensure prompt bill distribution and inform residents about tax concession schemes. Residents are advised to share their mobile phone numbers and email addresses with these representatives for property linking and SMS alerts. Citizens can also complete this procedure independently via www(dot)nmmc(dot)gov(dot)in. The Bharat Bill Payment System supports various payment options, including online banking, UPI, cards, and mobile wallets. Payments through the municipal website and app provide instant receipts, an NMMC official confirmed. NMMC now offers straightforward property tax payments both manually and online with annual billing. Speaking about the reforms in property tax collection and encouraging public cooperation, Shinde said: "This year, many important decisions were taken to make property tax collection more dynamic and citizen-friendly. The new system of 'One Year, One Bill', linking KYC to tax bills, online availability of property tax bills, effective use of digital methods of tax payment, and participation of women from self-help groups in bill distribution will not only make the tax collection system easier for citizens, but also provide planning and speed to tax collection."
Time of India
22-05-2025
- Business
- Time of India
Pay property tax by June 30 & get 10% discount: NMMC
Navi Mumbai: After collecting a record Rs 826 crore in property tax in 2024-25 and setting an ambitious target of Rs 1,200 crore for the 2025-26 fiscal, Navi Mumbai Municipal Corporation (NMMC) announced a 10% 'Early Bird' discount on general tax for property owners who pay their 2025-26 bills by June 30. NMMC commissioner Kailas Shinde said the 2025-26 property tax bills are now accessible online. Among the other initiatives to encourage timely tax payments and boost civic revenue is the implementation of a single annual bill distribution system from 2025-26, replacing the earlier practice of distributing bills twice a year. NMMC has also upgraded the online payment system and roped in women from self-help groups to handle the physical bill distribution. "Property tax bills for 2025-26 can now be accessed through and the 'MY NMMC - My Navi Mumbai' app. A 10% discount on general tax awaits those who settle their bills by June 30, 2025," said Shinde. "Previously, the corporation distributed bills twice annually to over 3.5 lakh property owners. Limited staff caused delays in distribution and tax collection. Hence, I have instructed swift distribution with additional personnel, implementing a single annual distribution system. The property tax department has recruited women from self-help groups to ensure prompt bill distribution and inform residents about tax concession schemes. Residents are advised to share their mobile phone numbers and email addresses with these representatives for property linking and SMS alerts. Citizens can also complete this procedure independently via The Bharat Bill Payment System supports various payment options, including online banking, UPI, cards, and mobile wallets. Payments through the municipal website and app provide instant receipts, an NMMC official confirmed. NMMC now offers straightforward property tax payments both manually and online with annual billing. Speaking about the reforms in property tax collection and encouraging public cooperation, Shinde said: "This year, many important decisions were taken to make property tax collection more dynamic and citizen-friendly. The new system of 'One Year, One Bill', linking KYC to tax bills, online availability of property tax bills, effective use of digital methods of tax payment, and participation of women from self-help groups in bill distribution will not only make the tax collection system easier for citizens, but also provide planning and speed to tax collection. "
Time of India
22-05-2025
- Health
- Time of India
Dog licence now a must for pet owners in Navi Mumbai
Navi Mumbai: Pet owners residing within Navi Mumbai Municipal Corporation (NMMC) jurisdiction must obtain a valid dog licence, said the civic administration. NMMC recently implemented the NMMC Dog Tax Regulations 1993 under Chapter 11, Section 149(1) and Section 127 (2) (a) of the Maharashtra Municipal Corporation Act, 1949. State govt has approved these regulations dating back to 1993. NMMC has warned of strict action against those who fail to comply with these regulations and keep dogs without licence. The health department offices are responsible for issuing dog licences, said a civic official, adding that pet owners can apply for the licences through the online portal. To submit an application, visit the NMMC website navigate to 'Citizen Services' and select the Health Department section. "Pet owners should ensure they complete the licensing process promptly to avoid any penalties or legal consequences. The licence serves as official documentation of pet ownership and helps maintain standards of pet care within the community. Regular renewal of dog licences is also essential to maintain valid registration status," said an NMMC health official. NMMC commissioner Kailas Shinde said the civic administration encourages all pet dog owners to cooperate with these regulations and obtain necessary licences for their pets. However, Ramesh Kumar, a pet owner from Navi Mumbai, said making licensing compulsory seems to be a bit of a harsh call on the part of the authorities.
