Latest news with #Rs2.94
Time of India
3 days ago
- Time of India
Gujarat: Over 8 lakh passengers benefited from 2,780 additional buses by GSRTC during summer vacation 2025
The Gujarat State Road Transport Corporation ( GSRTC ) operated additional bus services during the summer vacation. From May 1 to May 31, 2025, over 8 lakh passengers benefited from this initiative, according to a release issued by the state government. According to the officials, to improve passenger convenience during the summer vacation, the ST Corporation operated over 1,400 extra express buses daily, connecting key cities across Gujarat. This included nearly 500 trips from Surat to Saurashtra, around 210 from Saurashtra to North Gujarat, approximately 300 from South Gujarat to North Gujarat, and 300 to various destinations within Saurashtra. Additionally, interstate services saw increased passenger traffic on routes between Gujarat and neighbouring states like Maharashtra and Rajasthan. The GSRTC ensured convenient travel to religious and tourist destinations through well-planned services from Ahmedabad. This included 10 daily trips to Ambaji, Somnath, and Dwarka, and five daily trips to Dakor, Pavagadh, and Girnar. For tourist spots like the Statue of Unity, Sasan Gir, and Saputara, five trips were operated daily, while 10 daily services were run to Diu and Kutch. For interstate travel, two daily trips from Ahmedabad connected passengers to Mount Abu and Sundha Mata in Rajasthan, and two trips from Geeta Mandir served Maharashtra destinations like Shirdi, Nashik, and Dhulia. Between May 1 and May 31, 2025, GSRTC operated 2,780 additional buses, completing 16,438 extra trips and serving 8.22 lakh passengers. The same period in 2024 saw 1,988 extra buses, 11,674 trips, and 5.84 lakh passengers. This marks a year-on-year increase of 2.38 lakh passengers availing ST Corporation's summer vacation services. To ensure passenger convenience, ST Corporation conducted 16,438 trips between May 1 and May 31, 2025, covering 15.61 lakh kilometres and generating Rs3.78 crore in revenue. In comparison, May 2024 saw 11,674 trips and Rs2.94 crore in earnings. These figures highlight the state government's commitment to strong leadership and quality public transport infrastructure. "Gujarat's robust public transportation system, accessible to both urban and rural citizens, reflects the visionary leadership of former Chief Minister and current Prime Minister Narendra Modi. Guided by the Prime Minister and led by Chief Minister Bhupendra Patel, the state government continues to advance transformative reforms in the road transport sector to enhance passenger convenience," said an official release.
India Gazette
4 days ago
- Business
- India Gazette
Gujarat: Over 8 lakh passengers benefited from 2,780 additional buses by GSRTC during summer vacation 2025
Gandhinagar (Gujarat) [India], June 5 (ANI): The Gujarat State Road Transport Corporation (GSRTC) operated additional bus services during the summer vacation. From May 1 to May 31, 2025, over 8 lakh passengers benefited from this initiative, according to a release issued by the state government. According to the officials, to improve passenger convenience during the summer vacation, the ST Corporation operated over 1,400 extra express buses daily, connecting key cities across Gujarat. This included nearly 500 trips from Surat to Saurashtra, around 210 from Saurashtra to North Gujarat, approximately 300 from South Gujarat to North Gujarat, and 300 to various destinations within Saurashtra. Additionally, interstate services saw increased passenger traffic on routes between Gujarat and neighbouring states like Maharashtra and Rajasthan. The GSRTC ensured convenient travel to religious and tourist destinations through well-planned services from Ahmedabad. This included 10 daily trips to Ambaji, Somnath, and Dwarka, and five daily trips to Dakor, Pavagadh, and Girnar. For tourist spots like the Statue of Unity, Sasan Gir, and Saputara, five trips were operated daily, while 10 daily services were run to Diu and Kutch. For interstate travel, two daily trips from Ahmedabad connected passengers to Mount Abu and Sundha Mata in Rajasthan, and two trips from Geeta Mandir served Maharashtra destinations like Shirdi, Nashik, and Dhulia. Between May 1 and May 31, 2025, GSRTC operated 2,780 additional buses, completing 16,438 extra trips and serving 8.22 lakh passengers. The same period in 2024 saw 1,988 extra buses, 11,674 trips, and 5.84 lakh passengers. This marks a year-on-year increase of 2.38 lakh passengers availing ST Corporation's summer vacation services. To ensure passenger convenience, ST Corporation conducted 16,438 trips between May 1 and May 31, 2025, covering 15.61 lakh kilometres and generating Rs3.78 crore in revenue. In comparison, May 2024 saw 11,674 trips and Rs2.94 crore in earnings. These figures highlight the state government's commitment to strong leadership and quality public transport infrastructure. 'Gujarat's robust public transportation system, accessible to both urban and rural citizens, reflects the visionary leadership of former Chief Minister and current Prime Minister Narendra Modi. Guided by the Prime Minister and led by Chief Minister Bhupendra Patel, the state government continues to advance transformative reforms in the road transport sector to enhance passenger convenience,' said an official release. (ANI)
Express Tribune
11-04-2025
- Business
- Express Tribune
Unilateral pay hikes
Listen to article The government's admission that National Electric Power Regulatory Authority (Nepra) board members unilaterally increased their salaries without the federal cabinet's prior approval is a glaring example of governance that prioritises self-interest over public accountability. The problem is not just the doubtful legality of the exercise, but a question of in what world can Nepra's board members justify raises of around 300%. The Nepra chairman's salary has soared from Rs790,000 to almost Rs3.25 million per month, while each board member now enjoys a monthly salary exceeding Rs2.94 million, up from about Rs740,000. While the previous salaries were tied to the highest tier of management pay (MP) scales, the current structure has no precedent and appears to have been decided on a whim. We must also note that the entire argument for having MP scale salaries is to get top talent from the private sector to offer their services to the public sector and perhaps improve the performance of state institutions. But in reality, a large number of MP scale hires are retired bureaucrats with little to no private sector experience, but deep connections to the corridors of power. Because of this, many MP-scale jobs are nothing more than post-retirement rewards for bureaucrats with connections to the government of the day. Inexplicably, several roles for which people are nominated, rather than competitively hired, also offer MP-scale salaries, opening the door for political patronage and doling out of questionable unapproved compensation and perks, despite the fact that thousands of competent and qualified Pakistanis would be willing to take these jobs at the officially approved salary levels. Even in the case of Nepra, it is worth noting that the chairman is a retired bureaucrat, and despite having some power sector experience, none of it was in the private sector. If the Nepra board members really think they deserve such ludicrously high salaries, they should immediately be afforded opportunities to actively seek employment in the private sector.
Express Tribune
05-04-2025
- Business
- Express Tribune
SBP pumps nearly Rs3 trillion into market
Listen to article The State Bank of Pakistan (SBP) has conducted Open Market Operations (OMO), injecting approximately Rs2.94 trillion into the banking system. This liquidity injection comprised two separate operations, both with a seven-day tenor. The larger portion, Rs2.4 trillion, was injected through a conventional Reverse Repo Purchase operation, accepting all 22 quotes at a rate of 12.07% per annum. Additionally, the SBP conducted a Shariah-Compliant Mudarabah-Based OMO injection, accepting all 10 quotes for Rs5.6 billion at 12.09% per annum. The Pakistani rupee posted a slight gain against the US dollar on Friday, appreciating by 0.03% in the interbank market. By the end of the trading session, the local currency closed at 280.47, registering an increase of nine paisas from the previous day's close of 280.56. Globally, the US dollar struggled to recover, while the yen, a safe-haven asset, hovered near a six-month high on Friday. This came as markets reacted to the economic implications of President Donald Trump's newly introduced tariffs. Zafar Paracha, President of the Exchange Companies Association of Pakistan, noted that record corporate profits and repatriations by banks and multinationals are putting pressure on the rupee. Due to the passing of a central member's son, gold prices in Pakistan were not released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). However, the gold market has been experiencing significant fluctuations. Internationally, gold prices fell nearly 2% on Friday as traders liquidated their bullion positions following wider market sell-offs after China retaliated with fresh tariffs against Trump's sweeping levies. Spot gold was down 1.9% at $3,053.98 an ounce after hitting a record high of $3,167.57 on Thursday. US gold futures declined 1.6% to $3,072.10. Analysts said investors were selling gold to cover losses in other asset classes prompted by margin calls. The Pakistani gold market saw a sharp price correction today following several days of strong gains, according to Adnan Agar, Director at Interactive Commodities. Agar reported that gold reached a high of $3,136 before falling to a low of $3,026. By his analysis, the market was hovering around $3,032. He attributed the broader instability to global factors, particularly Trump's trade tariffs. Heavy selling pressure was observed in the market over the past two days. "The faster it went up, the faster it's likely to come down," Agar said, as the market remains in a lowered position following the correction.
Express Tribune
30-01-2025
- Business
- Express Tribune
PSX stages strong comeback, gains 1,719 points
Listen to article KARACHI: Pakistan Stock Exchange (PSX) on Thursday staged a strong recovery, where the KSE-100 index surged over 1,700 points and closed above 113,200. The rebound followed three consecutive negative sessions as optimism grew over corporate earnings, the International Monetary Fund's (IMF) proposal to reduce gas-sector circular debt and commitments made by a US investor delegation. Market activity remained robust, with trading in 483 million shares and a total value of Rs26 billion. Key contributors to the rally included Mari Petroleum (+10%), Bank AL Habib (+5.82%) and Lucky Cement (+3.49%). Analysts anticipate further upward momentum as investors focus on corporate earnings and the IMF review scheduled for late February. "Stocks turned bullish amid speculation in the earnings season ahead of major announcements this week," said Arif Habib Corp MD Ahsan Mehanti. IMF's proposals to ease the gas circular debt issue, rupee stability and commitments from a US investor delegation played the role of catalysts in the surge at PSX, he added. At the close of trading, the benchmark KSE-100 index posted a sharp increase of 1,719.04 points, or 1.54%, and settled at 113,206.40. Arif Habib Limited (AHL) wrote in its report that the KSE-100 index maintained its 112,000115,500 range, confirming a "seek and destroy" market profile. A total of 76 stocks advanced, while 21 declined, with Mari Petroleum (+10%), Bank AL Habib (+5.82%) and Lucky Cement (+3.49%) contributing the most to index gains. On the other hand, Bank Alfalah (-0.64%), Lucky Core Industries (-1.56%) and Packages Limited (-1.67%) were the biggest drags, it said. AHL mentioned that Bank Alfalah announced its 4QCY24 earnings per share of Rs2.94, marking a 49% year-on-year decline and a 65% quarter-on-quarter drop. The decline in earnings was primarily driven by subdued net interest income and higher operating expenses. "With the index recovering within its established range, a move towards the upper end now appears likely," it added. Topline Securities, in its review, reported that the market saw a positive turnaround in Thursday's trading session, with the index dipping to the intra-day low of 111,806 points and climbing to the high of 113,401 points, before closing at 113,206, up 1,719 points. It marked a recovery following three consecutive negative sessions. The uptick was primarily fuelled by strong performances by Mari Petroleum, Bank AL Habib, Lucky Cement, PSO and Hub Power, which together added 923 points to the index, Topline said. Muhammad Hasan Ather of JS Global wrote that the KSE-100 saw a significant rebound as the benchmark index rose 1,719 points. The surge was driven by strong buying interest in key sectors such as automobile assemblers, cement, and exploration and production. Looking ahead, the market outlook remains positive, with upcoming annual results from major banks and the IMF review at the end of February expected to reinforce macroeconomic stability, the JS analyst said. Overall trading volumes were recorded at 484 million shares compared with the previous session's tally of 449 million. The value of shares traded during the day was Rs26 billion. Shares of 441 companies were traded. Of these, 272 stocks closed higher, 118 fell and 51 remained unchanged. Sui Southern Gas Company was the volume leader with trading in 48.4 million shares, gaining Rs2.71 to close at Rs39.11. It was followed by Waves Home Appliances with 33.2 million shares, gaining Rs1.15 to close at Rs12.78 and Bank Makramah with 31.5 million shares, gaining Rs0.22 to close at Rs3.71. During the day, foreign investors sold shares worth Rs2.2 billion, according to the NCCPL.
