Latest news with #PSIC
Time of India
4 days ago
- Politics
- Time of India
PSIC issues show cause notice to Mohali director public instructions for RTI information denial
1 2 3 Mohali: The Punjab State Information Commission (PSIC) has issued a show cause notice to the public information officer (PIO) of the director public instructions (secondary education), Mohali, for failing to furnish information sought under the Right to Information (RTI) Act. Following a complaint by Sukhchain Singh, a resident of Fatehgarh Churian, Batala, the commission, invoking Section 20(1) of the RTI Act, has asked the PIO to explain in writing why a penalty should not be imposed for the alleged willful delay or denial of information. The officer has been directed to submit a detailed reply before the next date of hearing. During the proceedings, the commission expressed strong displeasure at what it termed as "complete negligence and laxity" on the part of the public authority in handling the RTI request. The commission noted that the continued failure to respond to such matters reflected not only inefficiency but also a disregard for the RTI Act itself. "The casual and callous approach adopted by the respondent is against the spirit of the RTI Act," the commission observed, adding that the law was enacted to promote transparency and ensure effective access to information. "Such behaviour by a government servant must be condemned," it said, emphasising that exemplary action is necessary to send a clear message to other public officials about their obligations under the Act. The PSIC's stern remarks underlined the need for accountability in governance and warned that non-compliance with the RTI framework undermines public trust in administrative institutions.
Business Recorder
18-05-2025
- Business
- Business Recorder
Punjab CM extends Rs23.91bn business loans in three months
LAHORE: 'For the first time in Punjab, loans worth Rs 23.91 billion have been issued to start a record number of 57913 new businesses in just 90 days,' noted Chief Minister Punjab Maryam Nawaz Sharif. While chairing a special meeting for a detailed briefing on 'Easy Business Finance and Easy Business Card' schemes. She added, 'For the first time, 6753 women have took loans worth Rs. 3.42 billion to run their own businesses,' She directed the authorities concerned to complete the process of pending applications for easy business finance and card loans as early as possible. The Chief Minister directed the relevant authorities to make arrangements to activate easy business card through WhatsApp as well. She also sought a plan for the export and manufacturing sector loans. She said, 'Easy Business Finance and Easy Business Card programs should not be stopped under any circumstances.' Maryam Nawaz Sharif was apprised by MD PSIC Sara Umar about progress on Easy Business Scheme. She said, '3010 people got loans worth Rs. 18 billion under Chief Minister Easy Business Finance Scheme, while 104,000 people got loans worth Rs. 43 billion under Chief Minister Easy Business Card Scheme.' She added, 'Out of 74,579 applications for Chief Minister Easy Business Finance, 2505 have been approved, and loans have been received; whereas out of 12,029 applications for Chief Minister Easy Business Finance Tier II, 505 have been approved, and loans have been received.' The CM was further apprised, 'Out of 1380,838 applications for Chief Minister Easy Business Card Scheme, 104,133 have been approved.' She was briefed, '1312 people got loans worth Rs. 3.91 billion for transportation business trading, whereas 175 people received loans worth Rs. 3.94 billion for distribution business.' She was updated, 'There is a trend of getting loans for professional services, agriculture, dairy, food, beautification, auto, fertilizer, pesticide, and other businesses. The largest number of people are providing services through Aasan Karuba card, 61,996 took loans worth Rs. 26.13 billion. 24,522 people received loans worth Rs. 10.75 billion for trading. and 10,699 people took loans worth Rs. 3.69 billion for agri-small business.' Copyright Business Recorder, 2025
Express Tribune
17-05-2025
- Business
- Express Tribune
Over 6,700 women launch businesses
Loans worth Rs23.91 billion have been given to start 57,913 new businesses in Punjab during the past three months. Chairing a meeting for a briefing on Easy Business Finance and Card schemes, Chief Minister Maryam Nawaz Sharif said 6,753 women had obtained loans worth Rs3.42 billion to run their own businesses. She directed the authorities concerned to complete the processing of pending applications for the loans as early as possible. She directed the authorities to make arrangements to activate the Easy Business Card through WhatsApp as well. The chief minister also sought a plan for export and manufacturing sector loans. She said, "The Easy Business Finance and Easy Business Card programmes should not be stopped under any circumstances." Punjab Small Industries Corporation (PSIC) Managing Director Sara Umar informed the CM that 3,010 citizens had obtained loans worth Rs18 billion under Chief Minister Easy Business Finance Scheme and 104,000 had acquired loans worth Rs43 billion under the Chief Minister Easy Business Card Scheme. The MD added, "Out of 74,579 applications for Chief Minister Easy Business Finance, 2,505 have been approved and loans have been received by the applicants; whereas out of 12,029 applications for Chief Minister Easy Business Finance Tier II, 505 have been approved and loans released. Out of over 1.38 million applications for Chief Minister Easy Business Card Scheme, 104,133 have been approved." The chief minister was informed that 1,312 applicants had got loans worth Rs3.91 billion for the transportation business, whereas 175 people had received Rs3.94 billion for distribution businesses. "There is a trend of getting loans for professional services, agriculture, dairy, food, beautification, auto, fertiliser, pesticide and other businesses. The largest number of people are providing services through the Aasan Karobar Card under which 61,996 applicants took loans worth Rs26.13 billion and 24,522 people received loans worth Rs10.75 billion for trading and 10,699 people received Rs3.69 billion for small agri-businesses," the CM was informed.
Yahoo
13-05-2025
- Business
- Yahoo
Power Sustainable Closes CAD$110m Term Loan Investment in telMAX
telMAX aims to be the most customer-centric and community-focused internet service provider in Canada. TORONTO, MONTREAL and MIAMI, May 9, 2025 /CNW/ - Power Sustainable Infrastructure Credit ("PSIC") recently closed on a CAD $110M senior secured financing for telMAX (the "Company"), a 100% fibre optic internet, phone and TV provider, based in Ontario, Canada. The credit facility will support the expansion of telMAX's multi-gigabit broadband network throughout the Greater Toronto Area ("GTA"). telMAX has a demonstrated track record of executing on its fibre build plan via a rigorous and disciplined approach to market selection and construction. The Company is focused on building community partnerships and providing residents across the GTA with the best internet experience possible. The investment will fund telMAX's near-term expansion and establish the Company as a leading high speed broadband provider in the GTA. Ben Shenwick, Principal at PSIC, said, "We are excited to partner with telMAX and their exceptional management team as they embark on this next chapter of growth and continue to establish themselves as an industry leader within the Canadian market. We firmly believe fibre is the most energy efficient way of delivering internet, and we look forward to supporting telMAX as they execute on their first-to-market fibre optic build plan with an emphasis on community engagement." Launched in 2023, PSIC is a CAD 1.0B1platform that has now completed six transactions across North America. The strategy aims to provide creative and highly tailored financing solutions to exceptional companies and management teams across infrastructure sectors including energy and decarbonization, transportation and logistics, digital, social, and utilities and recycling. "This financing supports telMAX's ongoing footprint expansion and is a strong endorsement of our business strategy and our customer growth trajectory, enabling telMAX to bring Canada's fastest all-fibre internet service to more communities in the Greater Toronto Area," said Michael Strople, CEO of telMAX. "We look forward to our partnership with Power Sustainable and embarking on the next phase of the telMAX growth story together." Orrick, Herrington & Sutcliffe LLP served as New York legal counsel and Osler, Hoskin & Harcourt LLP served as Canadian legal counsel to PSIC. Bank Street Group LLC served as exclusive financial advisor, Vinson & Elkins LLP served as New York legal counsel and Bennet Jones LLP served as Canadian legal counsel to telMAX. About Power Sustainable Power Sustainable is an alternative asset manager which finances companies and projects that aim for both competitive returns and positive sustainability outcomes. The firm offers institutional investors exposure to alternative assets, which aim to accelerate and scale sustainable solutions across multiple industries. Power Sustainable is a subsidiary of Power Corporation of Canada (TSX: POW), an international management and holding company that focuses on financial services in North America, Europe, and Asia. With CAD 4.0B in assets under management2, Power Sustainable's mission is to catalyze capital towards clean global solutions. Learn more on Power Sustainable's LinkedIn and Website. About telMAX telMAX is a locally based company headquartered in the Greater Toronto Area, offering 100% fibre optic internet, TV, and phone services to residential and business customers. telMAX has been ranked Canada's fastest internet service provider by PC Magazine for the last three years. With ongoing expansion of its award-winning independent fibre network, telMAX currently serves the communities of Brooklin, Stouffville, Newmarket, Aurora, and Richmond Hill. telMAX proudly employs staff from the communities where it operates and is committed to supporting a wide range of community development activities. For more information on telMAX: __________________ 1 As of March 31, 2025. CAD 1.0B represents the total Limited Partner commitments to the PSIC strategy since inception. 2 As of March 31, 2025. View original content: SOURCE Power Sustainable View original content: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Cision Canada
09-05-2025
- Business
- Cision Canada
Power Sustainable Closes CAD$110m Term Loan Investment in telMAX
telMAX aims to be the most customer-centric and community-focused internet service provider in Canada. , May 9, 2025 /CNW/ - Power Sustainable Infrastructure Credit ("PSIC") recently closed on a CAD $110M senior secured financing for telMAX (the "Company"), a 100% fibre optic internet, phone and TV provider, based in Ontario, Canada. The credit facility will support the expansion of telMAX's multi-gigabit broadband network throughout the Greater Toronto Area ("GTA"). telMAX has a demonstrated track record of executing on its fibre build plan via a rigorous and disciplined approach to market selection and construction. The Company is focused on building community partnerships and providing residents across the GTA with the best internet experience possible. The investment will fund telMAX's near-term expansion and establish the Company as a leading high speed broadband provider in the GTA. Ben Shenwick, Principal at PSIC, said, "We are excited to partner with telMAX and their exceptional management team as they embark on this next chapter of growth and continue to establish themselves as an industry leader within the Canadian market. We firmly believe fibre is the most energy efficient way of delivering internet, and we look forward to supporting telMAX as they execute on their first-to-market fibre optic build plan with an emphasis on community engagement." Launched in 2023, PSIC is a CAD 1.0B 1 platform that has now completed six transactions across North America. The strategy aims to provide creative and highly tailored financing solutions to exceptional companies and management teams across infrastructure sectors including energy and decarbonization, transportation and logistics, digital, social, and utilities and recycling. "This financing supports telMAX's ongoing footprint expansion and is a strong endorsement of our business strategy and our customer growth trajectory, enabling telMAX to bring Canada's fastest all-fibre internet service to more communities in the Greater Toronto Area," said Michael Strople, CEO of telMAX. "We look forward to our partnership with Power Sustainable and embarking on the next phase of the telMAX growth story together." Orrick, Herrington & Sutcliffe LLP served as New York legal counsel and Osler, Hoskin & Harcourt LLP served as Canadian legal counsel to PSIC. Bank Street Group LLC served as exclusive financial advisor, Vinson & Elkins LLP served as New York legal counsel and Bennet Jones LLP served as Canadian legal counsel to telMAX. About Power Sustainable Power Sustainable is an alternative asset manager which finances companies and projects that aim for both competitive returns and positive sustainability outcomes. The firm offers institutional investors exposure to alternative assets, which aim to accelerate and scale sustainable solutions across multiple industries. Power Sustainable is a subsidiary of Power Corporation of Canada (TSX: POW), an international management and holding company that focuses on financial services in North America, Europe, and Asia. With CAD 4.0B in assets under management 2, Power Sustainable's mission is to catalyze capital towards clean global solutions. Learn more on Power Sustainable's LinkedIn and Website. About telMAX telMAX is a locally based company headquartered in the Greater Toronto Area, offering 100% fibre optic internet, TV, and phone services to residential and business customers. telMAX has been ranked Canada's fastest internet service provider by PC Magazine for the last three years. With ongoing expansion of its award-winning independent fibre network, telMAX currently serves the communities of Brooklin, Stouffville, Newmarket, Aurora, and Richmond Hill. telMAX proudly employs staff from the communities where it operates and is committed to supporting a wide range of community development activities. For more information on telMAX:
