Latest news with #Rs1.25
Time of India
5 days ago
- Time of India
Cops seize vapes worth 1.25 lakh
Kolhapur: The Kolhapur police have seized Korean and Chinese vapes worth Rs1.25 lakh from a cigarette shop in the New Shahupuri area. The total value of prohibited nicotine and non-nicotine items recovered from the shop is estimated at Rs3.9 lakh, which includes foreign cigars and expensive imported cigarettes. Tired of too many ads? go ad free now The shop owner, Shashikant Lakshman Patil, who runs the outlet named C Zone, was arrested and later released on bail. "We are finding out the source of the vaping devices. We received a tip about the sale of such e-cigarettes from that shop, and we carried out a surprise search," said Santosh Doke, police inspector of Shahupuri police station. According to the police, the vapes were being sold at prices ranging from Rs425 to Rs1,350. Officials suspect the devices may have been sourced through online platforms. Investigations are ongoing to trace the supply chain of the banned products.
Time of India
28-05-2025
- Time of India
Cattle meant for illegal slaughter seized from abandoned NMC school
Nagpur: In back-to-back operations on Wednesday, the Sadar police cracked down on two cattle-related offences, rescuing livestock worth over Rs2.35 lakh and arresting one suspect. The first raid took place at the old Lal Corporation School near Gaddigodam Masjid in Sadar. The school, which has been closed for over 10–15 years, was being used to confine cattle in cruel conditions, allegedly for slaughter. Based on an informant's tip, police officers raided the site at around 5.30am and rescued one red cow, one white calf, seven red-and-white calves, and one red-and-white bull. The animals, worth approximately Rs1.25 lakh, were tied up without food or water. The accused in the case, Shoaib Gafur Qureshi (42), a resident of Gaddigodam, is currently absconding. A case was registered under multiple sections of the Maharashtra Animal Protection Act, 1976 (Amendment 2015). Police inspector Manish Thakre of Sadar police station stated that the abandoned school has been a hotspot for such illegal activities. "We've already written to Nagpur Municipal Corporation (NMC) to hand over the property to us. It was also suggested as a site for a cyber lab or a new police station. Locals even use it for weddings and public functions — it's high time the space is properly secured." In a separate incident, a Bolero pickup vehicle was intercepted at Juna Katol Naka Chowk near the Zilla Parishad School. Acting on an alert received on 112, officers led by PSI Vilas Gusinge stopped the vehicle and discovered nine bovines, including one white cow, one red cow, three white-red cows, and one calf, valued at Rs1.1 lakh. The driver, Vinod Kailas Dhumal (27) from Kalmeshwar, was arrested. He confessed to transporting the animals for Shoaib Gafur Qureshi, the same accused as in the earlier case. The four-wheeler vehicle, worth Rs5 lakh, was seized. A fresh case was registered under BNS, including charges under the Prevention of Cruelty to Animals Act, Maharashtra Animal Protection Act, and the Motor Vehicles Act. Both operations were conducted under the guidance of DCP Rahul Madane and ACP Sunita Meshram. Authorities have urged the public to remain alert and report such offences to prevent further cruelty and enforce animal protection laws effectively.
Express Tribune
18-05-2025
- Business
- Express Tribune
Fuel, power prices set to rise as Pakistan commits to IMF conditions
Government has assured the International Monetary Fund (IMF) of sweeping economic reforms ahead of its 2025–26 federal budget, including hikes in fuel, electricity, and gas prices, officials said, a move likely to place additional financial strain on the population. The government plans to implement a series of fiscal measures starting July 1 aimed at reducing the fiscal deficit and addressing the country's mounting energy-sector debt. These measures include additional levies on petroleum products, a new debt service surcharge on electricity bills, and adjustments to gas tariffs. Electricity prices will be rebased annually beginning July 2025, while gas prices are expected to be adjusted twice — first in July 2025 and again in February 2026. Read more: IMF slaps 11 new conditions on Pakistan Sources said the federal government has committed to imposing a carbon levy of Rs5 per litre on petrol and diesel. Provincial governments are not expected to offer any subsidies on electricity or gas under the new policy framework. To address the growing circular debt in the energy sector, the government will borrow Rs1.25 trillion from commercial banks. The loan will be repaid by electricity consumers over six years through a 10 per cent surcharge on power bills. The government will retain the authority to increase this surcharge if required. The IMF has also been assured of a gradual reduction in electricity subsidies as Pakistan targets bringing its circular debt to zero by 2031. Sources further said the National Electric Power Regulatory Authority (NEPRA) will continue quarterly tariff adjustments and enforce timely fuel cost adjustments. Only targeted subsidies will be provided, and the gap between base tariffs and actual revenue will be narrowed. Read more: Pakistan identifies six new trade corridors The updated Circular Debt Management Plan is expected to be approved by the cabinet in July. While the energy sector saw gains of Rs450 billion in the first half of the current fiscal year, overall debt levels remain high. As of January 2025, electricity circular debt had reached Rs2.44 trillion, while gas circular debt was recorded at Rs2.29 trillion by June 2024. Efforts to reduce the debt burden include ongoing negotiations with Independent Power Producers (IPPs), with Rs348 billion in payments expected to be cleared by June. Officials say improved cost recovery will be key to stabilising energy prices in the long term.
Business Recorder
17-05-2025
- Business
- Business Recorder
POL price adjustment: Ogra's advice disregarded
ISLAMABAD: Consumers see a smaller reduction in high-speed diesel (HSD) prices than initially proposed by the Oil and Gas Regulatory Authority (Ogra). Effective May 16, 2025, the federal government has reduced HSD price by Rs2 per litre, significantly less than Ogra's recommended Rs4.09 per litre decrease. Meanwhile, petrol prices will remain unchanged, as a result of government adjustments to the inland freight equalization margin (IFEM) and exchange rate adjustments, despite OGRA suggesting a Rs1.25 per litre decrease. The federal government adjusted Rs2.09 per litre out of total recommendedRs4.09 per litre decrease in HSD in exchange rate and IFEM on HSD. Avg of platts with incidentals and duty on HSD reduced by Rs4.09 per litre from Rs159.47 per litre on May 1 to Rs155.38 per litre on May 16, 2025. The government allowed exchange rate impact of 84 paisa in the review. The IFEM increased by Rs1.55 per litre from Rs3.33 per litre to Rs4.88 per litre. District margin and dealer margin on HSD was kept unchanged at Rs7.87 per litre and Rs8.64 per litre, whereas, extra margin reduced from 31 paisa to 1 paisa. Avg of platts with incidentals and duty on petrol reduced by Rs1.25 per litre from Rs151.71 per litre on May 1 to Rs150.46 per litre on May 16, 2025. The government allowed exchange rate impact of 1.25 per litre from 0.09 paisa to Rs1.34 per litre in the review. The IFEM remained unchanged at Rs6.30 per litre. Copyright Business Recorder, 2025
Hans India
30-04-2025
- Business
- Hans India
Rs 1.25-trn liquidity drive in progress
Mumbai: Reserve Bank of India (RBI) has decided to inject more liquidity into the banking system through the purchase of Government bonds for an aggregate amount of Rs1.25 lakh crore in May. The move is also expected to prop up bond prices, which had declined due to a sell-off by foreign banks and primary dealers after the uncertainty triggered by the Pahalgam attack. The RBI's open market operations (OMO) to purchase government bonds will be carried out in four tranches between May 6 and May 19. The decision was taken after a review of current and evolving liquidity conditions, according to an RBI statement. The move comes close on the heels of the RBI's announcement on April 1 to buy government bonds worth Rs80,000 crore, which was followed by another Rs40,000 crore purchase announced on April 11. RBI Governor Sanjay Malhotra has stated that the central bank will continue to monitor evolving liquidity and market conditions and take measures as appropriate to ensure orderly liquidity conditions.
