Latest news with #Rs125
Express Tribune
3 days ago
- Business
- Express Tribune
Govt considers levy on gasoline-powered cars to promote electric vehicles
Listen to article The government is considering a five-year levy on all vehicles powered by petrol and diesel to promote electric vehicle (EV) adoption in the country. It has also decided to establish an 'EV Fund' to support the growth of electric transportation. The EV Fund will be set up to facilitate electric vehicle adoption, and a levy is proposed on all petrol and diesel vehicles—both imported and locally manufactured—for the next five years. If approved and implemented, this levy could generate annual revenue of Rs25–30 billion, amounting to Rs125–150 billion over five years. The collected revenue would be used to finance the new five-year Electric Vehicle Policy for 2026–30. Meanwhile, the International Monetary Fund (IMF) has raised concerns about the government's proposal to provide idle electricity for Bitcoin mining and artificial intelligence operations, according to sources in the Finance Ministry. The IMF has sought an explanation for not being consulted on the use of electricity for Bitcoin mining and AI, as well as on electricity tariffs. A virtual discussion is scheduled with the IMF delegation specifically regarding electricity supply for Bitcoin mining. The IMF has also asked for clarification on the allocation of electricity for cryptocurrency operations, particularly since crypto remains unregulated in Pakistan. The IMF has insisted that all decisions under the loan programme be made with prior consultation. Sources confirm that Pakistan's economic team is facing tough questions during budget negotiations, and further hard discussions with the IMF regarding electricity supply initiatives are anticipated. According to sources, many key economic targets in the budget proposals have already been finalised in consultation with the IMF, while discussions on other areas are ongoing and expected to conclude in the coming days. It has also been proposed to offer incentives for the local manufacturing of laptop and smartphone batteries and chargers. Sources added that virtual consultations with the global lender are ongoing regarding budget proposals for the upcoming fiscal year, with an outcome expected soon. The draft budget will likely be finalised next week. Both Pakistan and the IMF have agreed to continue virtual talks on all outstanding matters. In the federal budget for fiscal year 2025-26, the government is likely to set a GDP target of 4.2%, an inflation target of 7.5%, an agricultural growth target of 4.5%, an industrial growth target of 4.4%, and a services sector growth target of 4%. The Annual Plan Coordination Committee (APCC) will convene on June 2 to finalise the Public Sector Development Program (PSDP) and the annual development plans. Later that same week, a key meeting of the National Economic Council (NEC), chaired by the prime minister, will be held where approval will be sought for the PSDP, annual development plans, and the Medium-Term Budgetary Framework proposed by the APCC. If adjustments or increases in funding for development projects are required, the NEC will approve them. The Economic Survey, detailing the performance of the current fiscal year, will be released on June 9. The federal budget will be presented in parliament the following day, June 10, after its approval by the federal cabinet in a special session.
Business Recorder
13-05-2025
- Business
- Business Recorder
JS Bank launches first maternity insurance through JS Her
KARACHI: In a move to support women's health and financial well-being, JS Bank, through its women-focused banking platform JS Her, has launched Pakistan's first dedicated maternity insurance, offering care and coverage for new mothers. Timed to honour mothers on Mother's Day, this innovative insurance plan provides financial support during one of life's most critical moments. The coverage includes up to Rs100,000 for normal deliveries and Rs125,000 for complicated deliveries or C-sections. Women between the ages of 18 to 50 years are eligible for the plan. Atif Malik, Chief Operating Officer at JS Bank, shared his thoughts on the initiative and said that JS Bank is committed to building financial solutions that support women at every stage of life. With the launch of Pakistan's first maternity insurance under JS Her, the banks is offering care, confidence, and a safety net when it's needed most. This is a step towards more inclusive banking, where every woman feels valued and supported, he added. Copyright Business Recorder, 2025
Time of India
05-05-2025
- Time of India
Crumbling security: 1,500 CCTVs of 3,686 non-functional
1 2 3 Nagpur: City crumbling CCTV network has exposed a serious flaw in the city's public safety infrastructure . Of the 3,686 cameras installed by the Nagpur Smart and Sustainable City Development Corporation Limited ( NSSCDCL ), nearly 1,500 are non-functional. This failure has severely hampered police efforts to monitor street crimes, especially as chain snatching cases rise — 17 reported by mid-April 2025, nearly matching the 20 incidents recorded in all of 2024. The gravity of the issue came into sharp focus after the recent murder of a trucker at Tathagata Chowk — an area where the cameras were not working. Police have increasingly had to rely on private CCTV footage to investigate such cases, raising concerns over privacy and inadequate coverage in key zones. The situation worsened after the NSSCDCL, the special purpose vehicle under the Smart City Mission, became defunct earlier this year. Without a designated authority to maintain or repair the network, the city has been left in limbo. Although temporary efforts restored 1,000 cameras ahead of Prime Minister Narendra Modi's visit, no long-term solution has been put in place. Despite chief minister Devendra Fadnavis' post-riot assurance to revive and expand the surveillance system, no substantial progress has been made. A Rs125 crore tender for the operation and maintenance of the system over five years was floated in April, but implementation has been sluggish. Guardian minister Chandrashekhar Bawankule's recent directive to restore full coverage is a positive step, but lacks the urgency the situation demands. The police's struggle to crack cases — evident in the 38 robbery cases this year compared to 60 last year — shows that while crime rates may fluctuate, detection remains a bottleneck without technological support. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like New Container Houses Vietnam (Take A Look At The Prices) Container House | Search ads Search Now Undo Senior police officials warn that the issue goes beyond routine crime. "Nagpur is vulnerable to more serious threats, including terrorism, without a functional and centralised surveillance network," one officer said. The contrast between the quick fix for VIP visits and the lack of sustained governance reflects poorly on administrative priorities. The reliance on private footage is a poor substitute for a public surveillance network, and the city urgently needs a modern, integrated system — possibly with AI tools like facial recognition, as seen in cities like Chandigarh. BOX THE DEFUNCT STORY * Nearly 1,500 of Nagpur's 3,686 CCTV cameras are defunct *It has crippled the city's crime detection and public surveillance system * Police are relying on private CCTV footage, raising privacy concerns * The NSSCDCL, tasked with managing the system, is defunct, and a ₹125 crore maintenance tender has seen delayed implementation Nagpur: City crumbling CCTV network has exposed a serious flaw in the city's public safety infrastructure. Of the 3,686 cameras installed by the Nagpur Smart and Sustainable City Development Corporation Limited (NSSCDCL), nearly 1,500 are non-functional. This failure has severely hampered police efforts to monitor street crimes, especially as chain snatching cases rise — 17 reported by mid-April 2025, nearly matching the 20 incidents recorded in all of 2024. The gravity of the issue came into sharp focus after the recent murder of a trucker at Tathagata Chowk — an area where the cameras were not working. Police have increasingly had to rely on private CCTV footage to investigate such cases, raising concerns over privacy and inadequate coverage in key zones. The situation worsened after the NSSCDCL, the special purpose vehicle under the Smart City Mission, became defunct earlier this year. Without a designated authority to maintain or repair the network, the city has been left in limbo. Although temporary efforts restored 1,000 cameras ahead of Prime Minister Narendra Modi's visit, no long-term solution has been put in place. Despite chief minister Devendra Fadnavis' post-riot assurance to revive and expand the surveillance system, no substantial progress has been made. A Rs125 crore tender for the operation and maintenance of the system over five years was floated in April, but implementation has been sluggish. Guardian minister Chandrashekhar Bawankule's recent directive to restore full coverage is a positive step, but lacks the urgency the situation demands. The police's struggle to crack cases — evident in the 38 robbery cases this year compared to 60 last year — shows that while crime rates may fluctuate, detection remains a bottleneck without technological support. Senior police officials warn that the issue goes beyond routine crime. "Nagpur is vulnerable to more serious threats, including terrorism, without a functional and centralised surveillance network," one officer said. The contrast between the quick fix for VIP visits and the lack of sustained governance reflects poorly on administrative priorities. The reliance on private footage is a poor substitute for a public surveillance network, and the city urgently needs a modern, integrated system — possibly with AI tools like facial recognition, as seen in cities like Chandigarh. BOX THE DEFUNCT STORY * Nearly 1,500 of Nagpur's 3,686 CCTV cameras are defunct *It has crippled the city's crime detection and public surveillance system * Police are relying on private CCTV footage, raising privacy concerns * The NSSCDCL, tasked with managing the system, is defunct, and a ₹125 crore maintenance tender has seen delayed implementation
Express Tribune
16-02-2025
- Business
- Express Tribune
Govt plans subsidised sugar stalls for Ramazan
ISLAMABAD: The federal government has decided to set up stalls across the country to sell sugar at Rs130 per kilogramme. The decision was taken during a meeting of the Sugar Advisory Board, chaired by Federal Minister for Industries and Production Rana Tanveer Hussain. The meeting, attended by PSMA, provincial secretaries and cane commissioners, approved the establishment of municipal-level stalls starting three days before Ramazan until the 27th of Ramazan. Sugar will be available in one- and two-kilogramme packets, with a purchase limit of 5kg per person upon presenting a national identity card. Federal ministers and chief secretaries will oversee the stalls to ensure consumers receive sugar at an affordable price. The meeting came as speculative trade in sugar has begun pushing prices of the sweetener up even before the arrival of Ramazan and during the sugarcane crushing season. Sugar prices have registered a Rs12 per kg increase during the last week in city markets as a 50kg bag of the commodity in the local market has reached Rs7,400 after an increase of Rs600. According to the report, the price of sugar per kilogramme in the wholesale market has increased from Rs136 to Rs148, while it is being sold at Rs150 per kg by retailers. Usually, rates of the sweetener come down during the crushing season. But this season the situation is contrary and rates are going up though the crushing season is in full swing. In December 2024, the ex-mill rate of sugar was Rs125 per kg, but it has now jumped to Rs140 to 143, says a spokesperson for the Sugar Dealers Association. He says that the ex-mill rate for February is being pitched at Rs145. He says export of sugar and artificial shortage of the commodity is responsible for the price hike. He fears that if the situation is not controlled, there is a risk that the price of sugar will go up further in the month of Ramazan.
