Latest news with #Rs16.5
Express Tribune
23-04-2025
- Express Tribune
Seven booked for collateral gold scam
Police have registered a case against seven employees of a cooperative bank on charges of embezzling over Rs16.5 million by keeping fake gold in bags as collateral. The bank administration has suspended the employees including a branch manager, while an audit team has started an investigation. According to officials, a customer, Sajid Basheer Fatiana, had obtained loan by depositing gold as collateral. When the customer asked for his jewellery after repaying the loan amounting to Rs506,696, a senior officer took out the jewellery from the bag, but the bank's goldsmith declared it fake. A team from Lahore conducted an inquiry and found 533 grams of fake jewellery in the bags with bogus documents dated December 6 and November last year. The manager Amanat Ali, Noman Akram, Faryal, Zafar Iqbal, two guards, a messenger and a goldsmith are suspected to being involved in putting fake jewelry in the bags and sealing them. Harappa police registered a case against the suspects under Section 420, 468, 471 and 408 on the complaint of Nazeer Ahmad, a senior vice president of the bank. Local police officials said the suspects had not been arrested so far but an investigation was under way.
Express Tribune
15-04-2025
- Business
- Express Tribune
Sindh bans use of plastic bags across province
Listen to article The Sindh government has imposed a province-wide ban on plastic bags. The decision was made during a cabinet meeting chaired by Chief Minister Murad Ali Shah, where amendments to the Sindh Prohibition of Non-Degradable Plastic Products Rules 2024 were approved. The cabinet noted that environmental protection requires measures to curb pollution and maintain ecological balance. It approved the amended rules to ban the manufacturing, sale, and use of all plastic shopping bags, including non-degradable and oxo-degradable types. The ban will take effect 60 days after the cabinet's approval. According to the spokesperson for the CM, the ban covers shopping bags and plastic carrier bags. All business and purchasing activities involving plastic bags will now be prohibited. During the same meeting, the cabinet also approved several financial grants. A grant of Rs200 million was approved for Cadet College Petaro, while Rs16.5 million was allocated for the purchase of buses for Cadet College Karampur. An amount of Rs20 million was approved for the National Boxing Championship. Additionally, a one-time grant of Rs500 million was sanctioned for the Kidney Centre Karachi, and Rs300 million for the Sindh Institute of Cardiovascular Diseases (SICVD). The cabinet also gave approval to the Sindh Habitual Offenders Monitoring Rules 2025. Under the Sindh Habitual Offenders Monitoring Act 2023, street criminals and repeat offenders will be required to wear tracking bracelets for monitoring purposes.
