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Express Tribune
8 minutes ago
- Business
- Express Tribune
KE agrees to pay Sindh Rs9b electricity duty
Additional concerns were raised over capacity payments to K-Electric's power plants, projected to cost over Rs 82b. PHOTO: FILE The K-Electric (KE) after several years of delay has started payments of electricity duty amounting to Rs32 billion, it has collected from consumers through monthly bills, to the Sindh government. As per the agreement, the power utility has agreed to pay Rs1.25 billion to the provincial government in two installments. This move is part of a broader agreement under which KE has committed to pay Rs9.142 billion out of a total outstanding amount exceeding Rs32 billion. A payment schedule has also been issued. According to the agreed timeline, the power utility will pay Rs4.258 billion to the Sindh government by September 2025. Additionally, the K-Electric will now be required to regularly remit the electricity duty it collects from consumers through monthly bills. The issue of non-payment of electricity duty was taken up by the Public Accounts Committee (PAC). Meanwhile, the Rs25 billion dues between KE and the Karachi Water and Sewerage Board remain unresolved. K-Electric has warned government departments of potential disconnection if bills are not paid on time. The power utility in its letter to the secretary of the Sindh Energy Department referred to the discussion between KE team and PAC members on June 31, during which payment with respect to Electricity Duty (ED) was deliberated upon. As agreed, reconciled electricity consumption dues of the Karachi Water and Sewerage Corporation (KWSC) will be held for adjustment against ED accumulated up to August 2024 and the excess amount of ED for the said period shall be paid by KE in line with the agreed installments as reflected in the schedule. Furthermore, KE will also deposit the respective ED amount for the period from September 2024 to September 2025, no later than 30th September 2025, into the respective Government Treasury. Moreover, it was also discussed that payment to KE for electricity dues by Sindh government and its various departments should also be paid on timely basis failing which, KE would be at liberty to take appropriate action including, but not limited to, disconnection of the respective electricity connections albeit in accordance with law.
Express Tribune
8 minutes ago
- Express Tribune
Jeweller killed by robbers laid to rest
A 24-year-old man shot dead during a robbery at a jewellery shop in Korangi on Tuesday was laid to rest on Wednesday. The victim, Abdul Mateen Muqeem, was buried at the Chakragoth graveyard in Korangi No1. The funeral prayers were held on the main road outside the Sarafa Market in Korangi No 2, where the shooting took place. The funeral was attended by the victim's family, relatives, traders from the Sarafa Market Association, local shopkeepers, and Jamaat-e-Islami Karachi Amir Monem Zafar. Traffic on Korangi Road came to a standstill during the funeral, resulting in long queues and severe congestion. A sombre atmosphere gripped the market as traders observed a shutdown in protest. Abdul Mateen's father was seen inconsolable at the burial site, surrounded by crying relatives and neighbours. Meanwhile, police have registered an FIR on the complaint of the victim's uncle, Muhammad Ayub Qureshi, against unidentified suspects. Two armed assailants entered the jewellery shop and attempted to rob it. When Abdul Mateen resisted, he was shot, according to the FIR. Another shop looted Robbers struck again on Wednesday - just as the funeral prayer of Mateen was being held nearby. This time, they looted Bismillah Jewellers near Bhittai Colony Ground in broad daylight, making off with gold worth Rs eight to nine million. CCTV footage shows three robbers entering the shop; one dressed in shalwar kameez, stood guard outside, while the other two, wearing caps and western clothes, held the jeweller at gunpoint and emptied the showcases before fleeing on two waiting bikes.
Time of India
21 minutes ago
- Business
- Time of India
Real estate fraud: Absconding promoters of Universal Buildwell arrested
1 2 Chandigarh: The Directorate of Enforcement (ED), Gurugram Zonal Office, on Wednesday claimed to have arrested Raman Puri, Varun Puri and Vikram Puri – promoters and former directors of M/s Universal Buildwell Pvt Ltd – under the prevention of Money Laundering Act in a case related to alleged real estate fraud. The arrested accused, apprehended Tuesday night, were absconding for more than seven years and were declared proclaimed offenders by various courts in predicate matters. They were apprehended by the Delhi Police. The special PMLA court in Gurugram on Wednesday remanded the trio into ED custody until July 29. The ED had initiated an investigation into the case based on more than 30 FIRs registered under various sections of the IPC across Delhi NCR against M/s Universal Buildwell Pvt Ltd, Raman Puri, Vikram Puri, and Varun Puri for failing to complete real estate projects on time and cheating the homebuyers/investors of their hard-earned money. The company was taken to the CIRP (Corporate Insolvency Resolution Process), which resulted in a resolution plan for homebuyers/other financial contributors being accepted and NCLT (National Company Law Tribunal) ordering some assets to be delivered to the homebuyers, who were the financial creditors, and the remaining assets to be liquidated. Most of the homebuyers had invested in the project before 2010. The case stems from the fraudulent mobilisation of homebuyers/investors' funds by the accused persons through Universal Buildwell Pvt Ltd, based on false promises of completing the project by 2010 and also promising assured returns in commercial projects. The arrested persons are also accused of cheating various financial institutions through forgery and fraud. They reportedly transferred some assets at negligible rates, oversold existing inventory, and executed forged agreements for their personal benefits. In this matter, data collected from the resolution professional revealed that the company, through their accused promoters, collected more than Rs 1,000 crore over 12 years on eight different projects in Gurugram and Faridabad, namely Universal Trade Tower, Universal Greens, Universal Business Park, Aura, Universal Square, Market Square, The Pavilion, and Universal Prime. They allegedly utilised only part of the funds for development and siphoned off the funds to acquire lands and other assets for their personal gains through criminal misappropriation, cheating, forgery, and fraud.
Time of India
22 minutes ago
- General
- Time of India
PMC to replace valves, carry out repairs of pipeline supplying water to Chandni Chowk overhead tank
1 2 Pune: Residents of Bavdhan, Pashan, Paud Road and some parts of Kothrud can expect relief from water cuts as the civic administration has taken steps to replace the valves and carry out repairs of the key supply line that brings water from Warje purification unit to Chandni Chowk overhead tank. This supply line developed leakages on two occasions in the last two months, which led to major disruptions in water supply in areas dependent on Chandni Chowk overhead tanks. The new valves are expected to reduce glitches and prevent water disruptions, an official from the water supply department of Pune Municipal Corporation (PMC) said. He said some technical faults had also been found that were hampering the flow of water in the pipeline. "Teams are working on it. The fault will also be rectified," the official said. You Can Also Check: Pune AQI | Weather in Pune | Bank Holidays in Pune | Public Holidays in Pune The administration is planning to spend Rs 16.66 lakh on the valves and other immediate works. More funds would be made available as required, officials said. Residents of the affected areas said that the administration needs to expand the scope of work instead of just replacing the valves and washing the supply line. Ashish Sane, a resident of Pashan, said unequal distribution of water was a major problem. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like When the Camera Clicked at the Worst Possible Time Read More Undo "We want the administration to work on this issue, identify areas where water availability is less, and where the distribution network is weak," he said. Baner resident VS Kher said that some areas receive excess water. "The situation is not the same everywhere, as some pockets do not get adequate supply. There are variations in water pressure as well. All these problems pertain to lapses in the distribution network. It is good that PMC is improving the supply from the main line to overhead tanks, but it should also pay attention to water supply from overhead tanks to the distribution network," Kher said. Officials said that the deputy engineers would visit areas getting low-pressure supply. "We will also see if valve operators are following the water supply schedules," an official said. Supply issues persist: - Unequal distribution of water - Some areas receive water for more hours - Valve operators do not follow supply schedule properly - Low pressure is a common problem in many pockets
Time of India
22 minutes ago
- Entertainment
- Time of India
Heritage makeover of 117-yr-old Roxy to restore art deco glory by March 2026
1 2 Kolkata: The art deco-style opera house turned cinema hall at Esplanade, constructed by Maurice Bandmann and Arathoon Stephen 117 years ago, is set to undergo a heritage makeover. This transformation will be similar to Mumbai's Eros Cinema, with real estate developers' body Credai signing an MoU with KMC to renovate it at a cost of Rs 5 crore. The renovation will be completed by March 2026. Currently known as Roxy Cinema, it started as Empire Theatre in 1908 before being converted to a cinema hall in 1941. Empire Theatre hosted Uday Shankar's dance recitals. Others who performed at the Empire include Harry Lauder, Dame Clara Butt, Anna Pavlova, Marie Tempest, and Matheson Lang. After it became Roxy Cinema, the first movie to be screened was the Ashok Kumar-starrer 'Naya Sansar' in 1941. Another Ashok Kumar-starrer, 'Kismet', was screened in 1943 for a record 186 weeks. Credai Kolkata president Siddharth Pansari said the project is the single largest private investment in the restoration of public infrastructure in Kolkata. "We have pledged to spend Rs 5 crore in doing up the 25,000 sq ft interiors of Roxy Cinema in art deco style. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas For Sale in Dubai Might Surprise You Dubai villas | search ads Get Deals Undo When complete, it will be an auditorium that KMC can use for its programmes or rent out," said Pansari. Architecture firm Innate, led by founder Anirban Bhaduri, will execute the project. You Can Also Check: Kolkata AQI | Weather in Kolkata | Bank Holidays in Kolkata | Public Holidays in Kolkata The civil work, including exterior repairs, has already been carried out by KMC. The KMC heritage committee will continue to inspect and supervise the restoration. Mayor Firhad Hakim lauded the Credai Kolkata initiative to step forward and support the restoration project. Roxy was nearly facing the hammer a decade ago when heritage enthusiasts — writer Amit Chaudhuri and Intach Kolkata convenor GM Kapur — filed a PIL. The subsequent change of guard at KMC led to the demolition plan being dumped. The restoration project marks a remarkable turnaround in the theatre's fortunes.
