Latest news with #Rs138
Express Tribune
3 days ago
- Business
- Express Tribune
PTV staff unpaid for months amid alleged plan to sell properties: Murtaza
Listen to article Pakistan Peoples Party (PPP) leader Hassan Murtaza alleged that Pakistan Television (PTV) is facing an artificial financial crisis, claiming the situation has left employees without salaries for several months. In a statement, Murtaza accused the government of deliberately weakening the state broadcaster as part of a plan to privatise its valuable properties. He alleged that the privatisation lobby is targeting PTV's real estate assets, worth trillions of rupees, and warned of possible building auctions. He said delays in salaries and pensions were unnecessary and linked to the removal of the Rs35 PTV fee from electricity bills. Murtaza also held the Minister for Information and the PTV managing director responsible for what he described as the broadcaster's near-bankruptcy. The PPP leader criticised the privatisation of Pakistan Steel Mills and other state-run enterprises, terming it detrimental to workers and aimed at benefiting specific groups. Read: State TV spent nearly Rs140m on power bills Earlier, state-run Pakistan Television Headquarters racked up electricity bills exceeding Rs138.94 million over the past five fiscal years, according to official figures submitted to the National Assembly. According to a written response submitted by the Ministry of Information and Broadcasting in the NA, PTV's electricity expenditure has steadily risen each year, with a total of Rs138,936,472 spent from 2020-21 to 2024-25. In the fiscal year 2020-21, the electricity bill stood at Rs17,287,399, which increased to Rs24,045,382 in 2021-22, followed by Rs28,895,833 in 2022-23. The upward trend continued in 2023-24, when Rs37,693,235 was spent. Although the figure slightly decreased in 2024-25, it still amounted to Rs31,014,623. The cumulative total over the five years came to Rs138,936,472.
Express Tribune
4 days ago
- Business
- Express Tribune
State TV spent nearly Rs140m on power bills
The state-run Pakistan Television (PTV) Headquarters racked up electricity bills exceeding Rs138.94 million over the past five fiscal years, according to official figures submitted to the National Assembly. According to a written response submitted by the Ministry of Information and Broadcasting in the NA, PTV's electricity expenditure has steadily risen each year, with a total of Rs138,936,472 spent from 2020-21 to 2024-25. In the fiscal year 2020-21, the electricity bill stood at Rs17,287,399, which increased to Rs24,045,382 in 2021-22, followed by Rs28,895,833 in 2022-23. The upward trend continued in 2023-24, when Rs37,693,235 were spent. Although the figure slightly decreased in 2024-25, it still amounted to Rs31,014,623. The cumulative total over the five-year period came to Rs138,936,472.
Business Recorder
01-08-2025
- Business
- Business Recorder
Govt decides to deregulate sugar sector: minister
ISLAMABAD: Federal Minister for National Food Security and Research Rana Tanveer Hussain on Thursday said the government has decided to deregulate the sugar sector in a move aimed at stabilising the market. Addressing a press conference, he said that deregulation of the sugar sector includes prices, export and import. Under the deregulation, the government will not intervene in pricing, procurement, or supply mechanisms, allowing the private sector to operate freely. Dispelling rumours of sugar shortage and inflated prices, Hussain assured that sufficient sugar stock is available across the country. PSMA urges Pakistan govt to deregulate sugar industry He said that following reports of rising market prices, the government signed an agreement with sugar mills on July 14, fixing the ex-mill price at Rs165 per kg, with the retail price currently averaging Rs173 per kg. He emphasised that strict action is being taken against hoarders and profiteers attempting to create artificial shortages. 'The system is in place, and implementation is underway,' he said, adding the government has the name of some sugar mills owners on the exit control list (ECL). The minister said the country's sugarcane output for 2024–25 was initially projected at seven million metric tons, but climate-related disruptions caused a decline to 5.8 million metric tons. In response, Prime Minister Shehbaz Sharif ordered an immediate halt to sugar exports in January 2025 to safeguard domestic supply, he said. He said that by the end of the crushing season on April 30, the total available stock, including a buffer stock of 0.5 million metric tons, stood at 6.3 million metric tons—just enough to meet annual national consumption needs. Currently, the country holds about two million metric tons of sugar, sufficient to meet demand for the next three months, the minister said. Defending the government's earlier decision to allow sugar exports, Hussain said that such trade has been routine over the past decade, both in exporting surplus and importing when needed. He noted that the Sugar Advisory Board (SAB)—comprising federal ministers, secretaries, provincial representatives, and industry stakeholders—had approved exports last year based on available data. At the beginning of the previous sugar season, the country had an opening stock of 800,000 metric tons, with production reaching 6.8 million metric tons against domestic consumption of 6.3 million metric tons, creating a surplus of 1.3 million metric tons. 'Exports were allowed to protect farmers and millers,' he said, adding the market witnessed a price drop from Rs138/kg to Rs119/kg following the export decision in October 2024. He said the government has launched a crackdown against violators across the supply chain. Implementation will take some time, but the system is in place and action is underway, he said. According to Hussain, Pakistan earned $402 million by exporting 750,000 metric tons of sugar last year. To ensure domestic availability, the government also approved imports of up to 500,000 metric tons, although only 300,000 tons are expected to be brought in at an estimated cost of $150 million. 'The government remains committed to ensuring stability in the sugar sector while protecting the interests of both consumers and producers,' the minister said. Copyright Business Recorder, 2025
Express Tribune
05-07-2025
- Business
- Express Tribune
SMEDA, Akhuwat join hands
Listen to article In line with the prime minister's vision of inclusive economic growth through grassroots entrepreneurship, the Small and Medium Enterprises Development Authority (SMEDA) has signed a Memorandum of Understanding (MoU) with Akhuwat Islamic Microfinance (AIM) to improve access to finance, formalisation, and hand-holding of micro enterprises across Pakistan. According to an official statement released on Saturday, the MoU was signed by SMEDA CEO Socrat Aman Rana and Akhuwat Foundation Founder and Chairman Dr Amjad Saqib, in the presence of Federal Secretary for Industries and Production Saif Anjum at the SMEDA head office. Addressing the ceremony, Secretary MOIP Saif Anjum highlighted that micro, small, and medium enterprises (MSMEs), as the backbone of Pakistan's economy, play a critical role in driving resilience, employment, and innovation. He emphasised that micro enterprises are a top priority in the prime minister's economic agenda. He noted that a steering committee, headed by himself, had been constituted to address challenges faced by the MSME sector. As part of its efforts, the committee has also initiated a reorganisation of SMEDA to enhance its effectiveness in serving the SME sector. "Today's MoU between SMEDA and AIM reflects the commitment of Prime Minister Shehbaz Sharif and SAPM Haroon Akhtar Khan to empower MSMEs," he stated. He expressed hope that the collaboration would strengthen micro-financing and capacity building, helping to create a robust ecosystem for bridging financial gaps and promoting inclusion of micro enterprises in the formal financial landscape. He lauded SMEDA's contributions in training, advisory services, and advocacy, and praised AIM's efforts in promoting financial inclusion. Earlier, SMEDA CEO Socrat Aman Rana welcomed the guests and outlined the objectives of the MoU. "This collaboration with Akhuwat is a concrete step toward realising the prime minister's dream of a robust and equitable entrepreneurial ecosystem," he said. He stressed SMEDA's focus on strengthening micro enterprises through targeted capacity building and streamlined regulatory processes. He acknowledged the role of the SAPM in facilitating the collaboration, citing his ongoing support for SMEDA's mission and advocacy for MSME development. Sharing sector data, the SMEDA chief noted that microfinance now serves nearly 12 million active borrowers, supported by a gross loan portfolio of approximately Rs644 billion, reflecting a strong 13% year-on-year growth. Notably, 46% of borrowers are women, highlighting the sector's inclusive and gender-sensitive impact. He added that the main areas of microfinance. trade and services (Rs144 billion), livestock and poultry (Rs164 billion), and agriculture (Rs138 billion), mirror the core of Pakistan's MSME ecosystem, especially in rural and semi-urban regions. However, he warned that access to formal finance remains a major hurdle for MSMEs, particularly in underserved areas. He termed the MoU a major breakthrough to bridge this financing gap and unlock Pakistan's entrepreneurial potential. Speaking at the event, AIM Chairman Dr Amjad Saqib expressed confidence that the collaboration would enhance micro enterprises' access to finance through AIM's nationwide network. He acknowledged the vital role of micro enterprises in poverty reduction and employment generation, and hoped the partnership would contribute meaningfully to national economic growth.
Time of India
27-04-2025
- Business
- Time of India
Nashik Municipal Corporation gets 81cr grant from state through 1% local body cess
Nashik: The Nashik Municipal Corporation (NMC) received a grant of Rs81 crore from state govt through the 1% local body cess (LBC). The civic administration said that property buyers within the municipal corporation limits are required to pay a total of 6% as stamp duty — comprising 5% as the standard stamp duty and 1% as the local body cess. State govt collects this 1% local body cess and subsequently transfers it to the respective municipal corporations. During the financial year 2024-25, the state's stamp duty department collected Rs138 crore through the 1% LBC. However, the NMC received only Rs81 crore during the same period. The NMC is yet to receive Rs56 crore from state govt. In 2023-24, the civic body received only Rs54 crore of the total Rs128 crore grant under the 1% local body cess. "For 2023-24, grant of Rs74 crore is still pending with the state. A total grant of Rs275 crore since April 2020 is still pending with state govt under the 1% LBC," an NMC official said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trade Bitcoin & Ethereum – No Wallet Needed! IC Markets Start Now Undo "We are planning to send a letter to state govt, requesting to release of the pending grant under the 1% local body cess. The letter will be sent after approval from NMC commissioner Manisha Khatri," the official added. The upcoming Simhastha Kumbh Mela is being held in 2027, and the NMC needs funds to share its 25% contribution of the total spending. During the Kumbh Mela held in 2015, the NMC contributed 25% of the Rs1,050 crore in Kumbh Mela development plans approved by state govt. Looking ahead to the next Kumbh Mela, the NMC official said, "We anticipate needing at least Rs1,500 crore as our contribution. Therefore, we are requesting state govt to release the pending grant in preparation for the upcoming Kumbh Mela."
