Latest news with #Rs500
Express Tribune
a day ago
- Express Tribune
Cop sentenced to life imprisonment for murder
The Sessions Court sentenced a constable of the Punjab Highway Patrol Police who killed a citi-zen to life imprisonment and a compensation of Rs500,000 while giving the benefit of doubt to the three accomplices of the criminal and acquitted them. Additional District and Sessions Judge Muhammad Owais sentenced Punjab Highway Patrol Police consta-ble Usman Hameed, involved in the murder case of Dijkot police station, to life imprisonment and a compensation of Rs500,000. The court has given the order that the convict will have to undergo an additional one-year imprisonment in case of non-payment of compensation. The court has acquitted the convict's three accom-plices, Assistant Sub-Inspector Shahid Manzoor, Con-stable Ghulam Dastgir and Mohsin Sufiyan, giving them the benefit of doubt.
Business Recorder
2 days ago
- Business
- Business Recorder
Rs500m loss inflicted on national exchequer? Senate body raises questions over role of Nespak, NTDC
ISLAMABAD: The Senate Standing Committee on Economic Affairs raised serious questions over the role of National Engineering Services Pakistan (Pvt) Limited (Nespak) and National Transmission and Dispatch Company (NTDC) in awarding the bid to the third lowest, causing Rs500 million loss to the national exchequer. The committee met with Saifullah Abro in the chair here on Thursday for further discussion on the recommendation made after detailed deliberations in the committee's previous meetings concerning the EAD and its related departments (NTDC projects including 765Kv Dasu-Islamabad Transmission Line project (LoT-I-LoT-IV) upto date progress, expenditure and briefing through MD, Nespak on ADB 401B-2022 LoT-II A(ACSR Bunting Conductor) regarding inquiries reports. The committee's chairman remarked that it was a matter of great embarrassment that Nespak, a national institution responsible for technical evaluations, failed to prevent such a decision. It was Nespak's responsibility to ensure proper verification, because Nespak's role is to scrutinise the document, he stated. Senator Abro highlighted that the 'contract is not awarded to the deserving by which the Rs500 million of the country could have saved.' He noted that 'the company to which the project was awarded Newage, Lahore, lacked the relevant experience, while expressing serious concern that this type of negligence cannot be ignored.' Senator Abro stated that the matter will be pursued through the relevant forums like, the Federal Investigation Agency (FIA), the Public Accounts Committee (PAC), and the National Accountability Bureau (NAB) to ensure that the public funds are recovered. He also recommended that strict action should also be taken against the involved officers. Referring to legal inconsistencies, he questioned 'if Public Procurement Regulatory Authority (PPRA) laws are not applicable in the case of domestic preference, and how can a letter from the Asian Development Bank (ADB) be considered valid?' He recalled that during the previous meeting, three written letters were presented by the caretaker minister, which further raised serious questions regarding the transparency of the process. When the committee sought further details, it was informed that all relevant data from the Engineering Development Board (EDB) had been destroyed in a fire, and only one verified letter was presented before the committee. Senator Kamal Ali Agha inquired whether an inquiry was conducted following the fire incident. The concerned department stated that no inquiry had been carried out. The chairman committee, recommended that a formal inquiry be conducted into the fire incident and that strict action be taken against those found responsible, including officers from the Power Division. During the committee meeting, a discussion was held regarding where the department conducts testing, which institutions are responsible, and where laboratories are located in Pakistan. The department informed the committee that type testing is conducted internationally and not within Pakistan. It was further stated that the type test for the current year, 2024, was conducted in Hungary. The chairman inquired about who the witness to the test? The department told that the witness was not verified. They also stated that, according to a 2023 policy, having a witness was not a mandatory requirement by the consultant. However, after detailed discussion, it was revealed that no such policy had been formulated. The chairman committee strongly remarked that no valid testing had been conducted and an attempt was made to mislead the committee, which amounted to fraud. The chairman asked whether any recovery of the misused funds had been made, to which the department responded that a letter had been written to NTDC regarding the matter. The chairman committee recommended that all the involved companies be blacklisted, the misappropriated funds be recovered, and that the officers involved be terminated from service. Furthermore, he recommended that the recovered amount should be deducted from the salaries of the responsible officers. The committee also inquired about the report and minutes of the 282nd Board meeting, as well as the letter issued by the NTDC Board. It was noted that while the minutes of the committee meeting were dated 24th December 2024, the Board was required to submit its report within 15 days. However, the BOD has submitted after six months. Meanwhile, the committee remarked that the Board itself is violating its own letter and treating the amount of Rs1.28 billion as insignificant. The chairman recommended that strict action be taken against the Board and that the amount be recovered within two weeks. Copyright Business Recorder, 2025
Business Recorder
4 days ago
- Business
- Business Recorder
Customs Command Fund established
ISLAMABAD: The Federal Board of Revenue (FBR) has established 'Customs Command Fund' (CCF) for upfront payment to informers and customs officers for carrying out anti-smuggling operations and apprehending individuals implicated in smuggling. The FBR has issued an SRO 908(I)/2025 on Tuesday to notify CCF Rules, 2025. According to the FBR's regulations, 'Customs Command Fund' means the Fund established in the Customs Enforcement Collectorates and office of the Chief Collector of Customs (Enforcement) to reinforce the operational capacity, carry out the mandate, support operations, enhance intelligence gathering, for the Customs personnel deployed for counter smuggling activities. There will be CCF committee in each Customs Collectorate. FBR chief highlights modernisation of customs Each CCF Committee may authorise and sanction expenditure for information gathering. However, the amount so disbursed to informers shall not exceed Rs500,000 in a single case. The amount would also be used for logistic charges. Costs and other incidental expenses incurred pertaining to transportation, storage, disposal and destruction of smuggled goods over and above the allocated annual budget under the respective head of account. The CCF would also be used for hard area supplies, to fund purchase of supplies, ration, utilities, safety gear and other equipment essential for wellbeing and safety of customs staff deployed for anti-smuggling activities including at choke points, check-posts, mobile squads, field enforcement stations and Digital Enforcement Stations (DES) etc notified by the FBR. The CCF would also be used for giving special reward, the CCF committee may sanction special reward to the officers and officials of the Enforcement Collectorate duly supported by documentary evidence in cases, wherein, the officer or official has displayed extra-ordinary efforts in tracing, interdiction, seizure of smuggled goods, investigation and prosecution of cases involving such smuggled goods, etc. In such cases, the reward shall not exceed two years' basic salary, the FBR added. Copyright Business Recorder, 2025
Business Recorder
4 days ago
- Business
- Business Recorder
NA body informed: Govt decides to launch M-6 project on a priority basis
ISLAMABAD: The National Assembly Standing Committee on Economic Affairs was informed on Tuesday that government has decided to launch the Motorway (M6) on a priority basis in the development programme of the next fiscal year. Officials from the Ministry of Economic Affairs informed the committee that the ministry had proposed foreign financing of Rs500 billion. The ministry estimates that a rupee cover will be required for financing of Rs400 billion. The meeting of the Standing Committee was held under the chairmanship of Atif Khan, which was informed that negotiations are underway with the Islamic Development Bank and the Saudi Fund for financing the motorway. Secretary Economic Affairs Division Dr Kazim Niaz said that launching the M6 Motorway is currently the government's top priority. The Islamic Development Bank will provide $500 million for two sections of the M6 Motorway. Talks are being held with the OPEC Fund and the Saudi Fund for Development for other sections. Talks are also being held with the Asian Development Bank (ADB). It is hoped that the Saudi Fund for Development will take up one section. Committee member Mirza Ikhtiar Baig said that the development of Karachi and Sindh depends on these two projects. The real purpose of building the motorway will be fulfilled by connecting the motorway with the port. The secretary Economic Affairs Division said that a new Country Partnership Strategy is being prepared with the Asian Development Bank. The committee was informed that important projects will be completed in the next fiscal year to improve the electricity transmission system. The committee was also informed that $460 million financing was available for Khyber Pakhtunkhwa Economic Corridor. The provincial government has to take several steps to get funding from the World Bank. This is an important project, the provincial government should resolve all issues quickly, secretary Economic Affairs Division added. In the last three years, short-term debt has been reduced and long-term debt has increased, he added. As the country's economic situation has improved, it has also become easier to obtain loans and set terms. Commercial loans are available for short periods and at high interest rates. In the last three years, the debt-to-GDP ratio has decreased to 67 percent, the secretary EAD added. The committee postponed the briefing on development projects in the absence of the planning minister and planning secretary. The Power Division has 82 development projects, said Special Secretary Power Division Arshad Majeed. Of these, 77 percent of the financing is allocated for transmission projects. Most of the projects of the Power Division are being carried out by NTDC, said Majeed. We thought that power generation would increase, said NTDC officials, adding that due to solarisation, the demand for power has decreased in the last five years. Copyright Business Recorder, 2025
Express Tribune
4 days ago
- Business
- Express Tribune
K-P to unveil FY25-26 budget on June 13
The Khyber-Pakhtunkhwa government will table the FY 2025-26 budget on June 13. Chief Minister Ali Amin Gandapur greenlighted the summary sent by the finance ministry and approved the date for budget presentation. Instead of finance advisor Muzamil Aslam, Minister for Law Aftab Alam will unveil the budget as Aslam is not a member of the house. Alam had also presented the budget for the current financial year. Sources said the total outlay of the K-P budget for the next fiscal year is likely to be pegged at Rs2,000 billion. Around Rs450 to Rs500 billion are likely to be earmarked for development projects. It is pertinent to mention that the total volume of the current fiscal year was fixed at Rs1751 billion, with Rs420 billion set aside for ADP. The K-P government is preparing for a Rs180 billion surplus budget for the next fiscal. Interestingly, the K-P government had broken the parliamentary tradition last year and presented a surplus budget for FY 2024-25 in the provincial assembly, even before the announcement of the federal budget, a move unprecedented in the country's history. Finance Minister Aftab Alam unveiled the Rs1,754 billion budget for fiscal 2024-25 [July-June], boasting a surplus of Rs100 billion.
