Latest news with #Rs1.16
Time of India
27-05-2025
- Business
- Time of India
NMC Fails to Fully Utilise Rs 7 Crore Allocation for Rivers' Cleaning Amid Early Monsoon
1 2 Nagpur: While the early onset of monsoon is wreaking havoc in western Maharashtra, the Nagpur Municipal Corporation (NMC) officials are still in deep slumber. A RTI reply, stating that NMC has used only miniscule part of funds sanctioned for cleaning of rivers across the city has exposed monsoon preparedness claims of the civic body. The NMC has allotted Rs7 crore for cleaning the city's three main rivers — Nag, Pili, and Pora —for the 2024-25 financial year. Of these, only Rs1.33 crore has been spent so far, the reply to a RTI query states. The last couple of years have witnessed many parts of the city getting submerged due to flooding in these three rivers. Still, the civic authority has adopted a lackadaisical approach in clearing the rivers of debris. The RTI reply reveals a disturbing pattern: Year after year, the NMC allocates funds for desilting and riverbed cleaning but fails to utilise the funds fully. In 2020-21, Rs1.5 crore was allocated, of which Rs1.08 crore was utilised. In 2021-22, Rs2 crore was sanctioned, but only Rs1.16 crore was spent. The situation worsened in 2022-23, when only Rs62 lakh of the Rs2 crore allocation was used. In 2023-24, NMC spent Rs1.46 crore of the same Rs2 crore allocated. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với mức chênh lệch giá thấp nhất IC Markets Đăng ký Undo The same year saw areas around Ambazari lake and Shankar Nagar getting submerged due to overflowing Nag river after the Sept 23 downpour. Under fire after the flood of Sept 23, 2023, NMC raised the allocation for cleaning the rivers to Rs7 crore for the year 2024-25. But barely 19% has been utilised so far while the pre-monsoon cleaning is far from complete. Last year's monsoon was no different. On July 20, 2024, heavy rainfall submerged around 71 localities, mostly in south-west and south Nagpur, bringing the city to a standstill. Water entered numerous homes and blocked roads for hours. These areas, not traditionally prone to flooding, suffered waterlogging largely due to choked river stretches and neglected stormwater channels. In the past, flooding was largely restricted to settlements along the Nag river. The failure to act despite available funds and ample time has enraged residents and raised alarms about potential disasters. "The monsoon is about to enter Vidarbha. If cleaning is not done now, the same streets will flood again. What excuse will the NMC give then?" asked a resident of Dhantoli, adding, "Why are crores allocated when the funds are going unused?"
Express Tribune
21-05-2025
- Business
- Express Tribune
Cattle market contracts fetch Rs6.59b
The online auctions were held on Wednesday, with 950 bids submitted for 28 markets across the three divisions. The competitive bidding process drew interest from a broad range of private contractors and firms and was conducted through a transparent online platform monitored by the Punjab Cattle Market Management and Development Company (PCMMDC) under the supervision of the provincial local government and community development department. Among the three divisions, Multan recorded the highest revenue from the auctions, generating Rs2.63 billion from 10 cattle markets. Lahore raised Rs2.03 billion and Faisalabad Rs1.91 billion in successful bids. The total figure amounted to Rs6.59 billion, according to the official bidding record. The largest bid was placed for the Model Cattle Market in Jungle Jaswant Garh in Multan, which fetched Rs1.57 billion. Close behind was the Model Cattle Market in Jhang, awarded for Rs1.16 billion. In Lahore, the Model Cattle Market in Shahpur Kanjran drew the highest bid, securing the contract for Rs1.5 billion. Other notable bids included the Model Cattle Market in Sheikhupura at Rs486.78 million, Cattle Market Luddan at Rs710 million and Model Cattle Market Niamoana at Rs140.7 million. A number of smaller markets, including Chund Bharwana, Tandlianwala, Gaggoo and Machiwal, also drew healthy bids ranging between Rs14 million and Rs50 million. Lahore division's five cattle markets attracted 253 bids, Multan's 10 markets 240 bids and Faisalabad's 13 markets 457 bids - pushing the overall participation to 950 bids. Contractors ranged from major construction firms to regional operators.
Hindustan Times
10-05-2025
- Business
- Hindustan Times
UPPCL likely to propose power tariff hike soon
The UP Power Corporation Ltd (UPPCL) is expected to propose a tariff increase in the state by the month-end as the electricity regulator has accepted its annual revenue requirement (ARR) proposal, setting the revenue need for the current fiscal at ₹1.16 lakh crore. In U.P, there has been no direct increase in the electricity tariff for the last five consecutive years. 'The UP Electricity Regulatory Commission (UPERC) on Friday accepted our ARR filed on November 30. Now, we will file the tariff increase hike proposal separately for 2025-26 after May 20,' a senior UPPCL official said. The UPERC, in its order passed by chairman Arvind Kumar and member Sanjay Singh, has directed the UPPCL/discoms to publish, in three working days, the ARR, financial performance and revenue gap through a public notice in newspapers. The commission has indicated that it would start holding public hearings on the ARR as well as the tariff hike proposal that the UPPCL may submit later in the days to come. UPERC, according to people in the know of things, may announce the new tariff for the current financial year by the end of July after knowing stakeholders' views through the public hearings and on tariff adjustments to address the UPPCL's projected revenue deficit. UPPCL, in its ARR, outlines a revenue need of approximately Rs1.16 lakh crore, with an estimated power purchase cost between ₹92,000 crore and ₹95,000 crore during 2025-26. The corporation has projected a deficit of ₹13,000 crore, leaving it to the commission to decide on potential tariff hikes. UPERC can make tariff adjustments on its own also to help the UPPCL bridge the expected revenue deficit.
Express Tribune
28-04-2025
- Business
- Express Tribune
China, Pakistan vow to defend multilateral trade system
Chinese Ambassador to Pakistan Jiang Zaidong said on Monday that China and Pakistan were staunch defenders of international equity and justice and the two countries must join the majority of the global community to safeguard the World Trade Organization-centred multilateral trading system. Addressing a distribution ceremony of agricultural equipment and tools aided by the Chinese government to Pakistan, Ambassador Jiang underscored that world could counter "decoupling", supply chain disruptions and tariff bullying through openness, inclusiveness, unity and cooperation. China has provided Pakistan with 278 sets of agricultural machinery and equipment worth 30 million yuans or Rs1.16 billion, for free, including tractors, seeders, combine harvesters, and photovoltaic water pump systems and others. Jiang said that agricultural projects under the CPEC comprehensively covered grain, cotton, oil crops, meat, and dairy production.
