Latest news with #PAC
Business Recorder
4 hours ago
- Business
- Business Recorder
Sugar export scheme: PTI for formation of high-powered JV
ISLAMABAD: The Pakistan Tehreek-e-Insaf (PTI) on Thursday called for the formation of a high-powered judicial commission to investigate what it described as one of the country's largest economic scandals – a sugar export scheme that allegedly cost the national treasury Rs287 billion. The scheme reportedly resulted in approximately Rs300 billion in unlawful profits to politically connected elites. The demand followed revelations presented to the Public Accounts Committee (PAC), which PTI said exposed a well-orchestrated scheme of plunder carried out by members of the ruling coalition and shielded by state institutions. In a statement, PTI spokesman Sheikh Waqas Akram called for a transparent and comprehensive enquiry into the scandal. He named Prime Minister Shehbaz Sharif, his deputy Ishaq Dar, members of the Economic Coordination Committee (ECC), and the Federal Cabinet as those who should be investigated for their alleged roles in approving and executing the controversial sugar export policy. PTI characterised the crisis not as mismanagement, but as 'a premeditated economic crime.' It alleged that sugar was exported despite domestic shortages, then re-imported at higher prices. This, the party claimed, artificially inflated costs for consumers and profited a select few. According to PTI, the policy was led by Dar during his tenure as chair of both the Sugar Advisory Board and the ECC. Akram said these approvals, which later received Cabinet assent, created a 'chain of command' linking senior government officials to the financial losses. The PAC's report, cited by PTI, estimates the national loss at Rs287 billion and points to nearly Rs300 billion in illicit gains allegedly pocketed by politically connected families and business interests. Among those named are the Sharif family, President Asif Zardari and his associates, Suleman Shehbaz, and businessman Jahangir Tareen. PTI also accused the ruling elite of misleading the public by downplaying shortages, inflating prices, and manipulating trade to generate windfall profits. The party claimed that state institutions – including the National Accountability Bureau (NAB), Federal Investigation Agency (FIA), Federal Board of Revenue (FBR), and the State Bank of Pakistan (SBP) – had remained silent spectators. The statement contrasted the current situation with former Prime Minister Imran Khan's tenure, when a Sugar Enquiry Commission was formed in 2020 to investigate similar profiteering. 'Back then, the report named culprits across party lines,' the spokesperson noted. 'Today, those same networks are in power.' The party also questioned the fairness of the accountability system, claiming that legal scrutiny disproportionately targets Imran Khan while 'real plunderers of public wealth' operate with impunity. PTI has called for sugar prices to be rolled back to 2022 levels as an emergency relief measure. It also urged the PAC to demand updates from the FIA on all pending sugar-related cases and called for criminal proceedings against those involved in alleged fake exports and hoarding. Copyright Business Recorder, 2025
The Hill
16 hours ago
- Politics
- The Hill
Nadler's Gen Z primary challenger raises over $340K on first day
Rep. Jerry Nadler's (D-N.Y.) Gen Z primary challenger Liam Elkind's campaign said on Thursday it pulled in over $340,000 in fundraising in its first day. 'In just one day, Liam didn't just outraise a 32-year incumbent's entire last quarter, he eclipsed their entire war chest,' Elkind's campaign adviser David Epstein said in a statement. 'That's not just momentum, it's a movement. It's no secret that New Yorkers are demanding bold, new leadership. This surge of grassroots support shows that Liam's unapologetically progressive vision is striking a powerful chord. This is just the beginning,' he continued. The Hill was the first outlet to report on Elkind's fundraising haul. Nadler reported raising over $91,000 in the second quarter of the year and has over $243,000 cash on hand. Elkind, 26, launched his challenge against Nadler, 78, on Wednesday, focusing explicitly on the issue of age. In his launch video, Elkind said he appreciates Nadler's service in office, noting that he grew up voting for him. 'But we need new leaders to meet this moment, because we can't wait,' Elkind said. 'We can't wait to fight Trump, end corruption, ban corporate PAC money, impose term limits, build more housing and serve our neighbors in need.' 2024 Election Coverage Nadler, who was first elected to Congress in 1992, has a strong record of defeating past primary challengers and won reelection in 2022 after he faced off against another incumbent following redistricting. The debate surrounding the age of elected officials in the Democratic Party has grown in recent months. Former President Biden came under scrutiny for initially running for reelection amid questions about his own fitness for office, while a number of Democratic lawmakers, most recently Rep. Gerry Connolly (D-Va.), have died in office. Additionally, former Democratic National Committee Vice Chair David Hogg made waves when he launched his group Leaders We Deserve in an effort to elect a new generation of lawmakers and drew headlines for the group's $20 million effort to primary safe House Democrats.
&w=3840&q=100)
Business Standard
16 hours ago
- Politics
- Business Standard
PM Modi to launch projects worth around ₹2,200 cr in Varanasi on Aug 3
A statement said the projects cater to several sectors, including infrastructure, education, healthcare, tourism, urban development and cultural heritage Press Trust of India New Delhi Prime Minister Narendra Modi will launch multiple development projects worth around ₹2,200 crore for Varanasi, his parliamentary constituency, on Saturday. A statement said the projects cater to several sectors, including infrastructure, education, healthcare, tourism, urban development and cultural heritage, and are aimed at achieving holistic urban transformation, cultural rejuvenation, improved connectivity and an enhanced quality of life in Varanasi. Modi will inaugurate projects to widen and strengthen the Varanasi-Bhadohi and Chhitauni-Shool Tankeshwar roads, and construct a rail overbridge at Hardattpur to ease congestion on the Mohan Sarai-Adalpura Road. He will lay the foundation stone for comprehensive road widening and strengthening across multiple rural and urban corridors, including Dalmandi, Lahartara-Kotwa, Gangapur, Babatpur, and rail overbridges at level crossing 22C and Khalispur Yard, the statement said. Strengthening the power infrastructure in the region, the prime minister will lay the foundation stone for various initiatives under the Smart Distribution Project and undergrounding of electrical infrastructure worth more than ₹880 crore. In a major boost to tourism, Modi will inaugurate the redevelopment project of eight riverfront "kuccha ghats", development works at Kalika Dham, beautification of the pond and the ghat at Rangildas Kutiya, Shivpur, and the restoration and water purification of Durgakund. He will lay the foundation stone for restoration work at the Kardameshwar Mahadev temple, development of Karkhiyaon, the birthplace of several freedom fighters, city facility centres in the Sarnath, Rishi Mandvi and Ramnagar zones, redevelopment of Munshi Premchand's ancestral house in Lamahi and upgrading it into a museum. He will also lay the foundation stone for the development of the Urban Miyawaki Forest at Kanchanpur and the redevelopment and beautification of Shaheed Udyan and 21 other parks. The other projects will include upgrading 53 school buildings within the municipal boundary, constructing a new district library and rejuvenating government high schools at Jakhini. Furthering his vision for world-class sports infrastructure in Varanasi, the prime minister will inaugurate a synthetic hockey turf at the Dr Bhimrao Ambedkar Sports Stadium. Enhancing facilities for law-enforcement personnel, he will inaugurate a 300-capacity multipurpose hall at Pradeshik Armed Constabulary (PAC), Ramnagar and lay the foundation stone for Quick Response Team (QRT) barracks. He will also release the 20th instalment of PM-KISAN. An amount of more than ₹20,500 crore will be transferred directly to the bank accounts of over 9.7 crore farmers across the country. With this release, the total disbursement under the scheme since its inception will surpass ₹3.9 lakh crore. A number of other projects related to health and water bodies will be unveiled as well. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
The Star
20 hours ago
- Business
- The Star
PAC urges Works Ministry to ensure MLFF does not incur financial implications for govt, consumers
KUALA LUMPUR: The Public Accounts Committee (PAC) has urged the Works Ministry to ensure that the implementation of the Multi-Lane Fast Flow (MLFF) system does not result in any financial implications for the government or consumers once the project's final direction is determined. PAC chairperson Datuk Mas Ermieyati Samsudin said that this precaution is essential to avoid repeating issues highlighted in previous PAC proceedings, where projects initially claimed to have no financial impact ultimately led to government payments to companies. She emphasised that any decisions regarding the implementation of the MLFF system, or any future traffic management system, must yield benefits and enhance efficiency in tackling traffic congestion. "The PAC requests that the Works Ministry provide a written update on the latest developments and direction regarding the implementation of the MLFF system for the committee's reference and attention. "In addition, the PAC urges that the effectiveness and efficiency of the existing toll collection system be improved as an immediate measure to reduce highway congestion before the MLFF is implemented," she said in a statement on Thursday (July 31). According to Mas Ermieyati, this issue was among the recommendations outlined in the PAC Statement on the Follow-up Action by the Works Ministry and the Malaysian Highway Authority (LLM) for the Parliamentary PAC Recommendations on the Management of the MLFF Project Implementation, presented on Wednesday (July 30). Additionally, the PAC also presented its statement on follow-up actions by the Finance Ministry and the Malaysian Inland Revenue Board (LHDN) regarding PAC's recommendations on the Management of the LHDN Accounts Receivable. Regarding the LHDN issue, Mas Ermieyati stated that the PAC recommended the board intensify enforcement actions under existing laws, alongside making improvements from time to time. On this matter, she emphasised the need for ongoing monitoring to ensure the effectiveness of the tax assessment process, along with proactive enforcement to curb leakage and fraud in tax payments. Commenting on the e-invoice initiative, she said the PAC welcomed the government's move announced on June 5, 2025, and acknowledged the need to consider the preparedness of taxpayers, especially Micro, Small, and Medium Enterprises, in meeting the legal requirements. "PAC recommends that the LHDN provide comprehensive support and guidance to all taxpayers throughout the preparation period for the implementation of the e-Invoice," she said. – Bernama
The Sun
20 hours ago
- Business
- The Sun
KKR urged to ensure MLFF system avoids financial burden on govt, consumers
KUALA LUMPUR: The Public Accounts Committee (PAC) has urged the Ministry of Works (KKR) to ensure the Multi-Lane Fast Flow (MLFF) system does not impose financial burdens on the government or consumers once finalized. PAC chairperson Datuk Mas Ermieyati Samsudin stressed the need to avoid past issues where projects initially deemed cost-free later required government payouts. Mas Ermieyati said decisions on MLFF or future traffic systems must prioritize efficiency and congestion relief. 'The PAC requests KKR to provide written updates on MLFF developments for committee review. Additionally, existing toll collection systems must be optimized immediately to ease highway congestion before MLFF rollout,' she stated. The recommendation follows PAC's review of KKR and the Malaysian Highways Authority's (LLM) progress on MLFF implementation. The committee also addressed tax management, urging the Inland Revenue Board (IRB) to strengthen enforcement and reduce accounts receivable risks. On e-invoicing, PAC supported the government's June 2025 announcement but stressed the need for taxpayer readiness, particularly among small businesses. 'IRB must offer comprehensive guidance to ensure smooth e-Invoice adoption,' Mas Ermieyati added. - Bernama
