Latest news with #Rs64
Business Recorder
26-05-2025
- Business
- Business Recorder
Construction of Sindh motorways ‘top priority', says Aleem Khan
Federal Minister for Communications Abdul Aleem Khan on Monday said construction of motorways in Sindh was a top priority of the government. Talking to the media in Karachi, Aleem Khan announced that the M-6 and M-10 motorways would be launched simultaneously, according to a press release shared by the Press Information Department (PID). 'The M-6 is Pakistan's lifeline which was unfortunately neglected by previous governments,' he added. The minister emphasised that the motorway would be incomplete in its utility without being connected to the C-Port and that both the M-6 and M-10 would be linked to the Karachi Port to ensure full functionality. Highlighting the significance of the M-6 Project, Aleem Khan shared that it was a nearly Rs400 billion initiative comprising upon five sections, each approximately of 60 kilometers long. 'There is no better opportunity for investment than this project.' He further said financing had already been secured for two sections while discussions for the remaining three were ongoing. 'We will finalise the feasibility report and present it to the prime minister within the next 15 days.' Motorways from Karachi to Hyderabad and from Hyderabad to Sukkur would be completed as early as possible while working on the N-25 Highway from Karachi to Quetta was also scheduled to begin later this year, the minister said. 'Karachi's challenges are not just provincial—they are national issues and we will address them on a priority basis,' he emphasised. Replying to questions, the federal minister stressed that his focus was on delivering progress rather than engaging in blame games. 'My effort is to prioritise the launch of motorway projects in Sindh, similarly, we are committed to completing the Kaghan-Naran Motorway.' Aleem Khan said the National Highway Authority (NHA) recorded 'unprecedented growth' in revenue over the current fiscal year and attaining the target from Rs64 billion to Rs110 billion while the additional income would be utilised into improving road infrastructure and constructing new motorways. To ensure road safety, the minister said strict measures were being implemented against dangerous driving on motorways. 'Drivers exceeding 150 km/h are not only being fined but also facing FIRs,' Mandatory use of M-Tags was helping reduce long queues, and staffing shortages in motorway police were being addressed, he added. Regarding his visit to Karachi, Aleem Khan mentioned that he, along with the Federal Secretary Communications and Chairman of the NHA held meeting with the Chief Minister of Sindh and assured full support from his ministry. He also held a meeting with the business community led by Arif Habib, where investors expressed interest in participating in the development of Sindh's motorways and road networks, the PID statement read. The minister noted that a joint team was being formed to focus on additional options for the Lyari Expressway in Karachi, including improvements to interchanges and exploration of further development projects.
Time of India
07-05-2025
- Business
- Time of India
IIM-Nagpur Student Bags Rs69.57L CTC, Campus Scores 100% Placements
Nagpur: A Jodhpur boy pursuing MBA from IIM Nagpur bagged the institute's highest-ever Rs69.57 lakh per annum package during campus recruitment drive. The previous highest CTC offered was Rs64 lakh, offered by an IT this was also the first occasion when international recruiters participated in the campus drive at Mihan-SEZ based premier B-school since it started in Nagpur nearly a decade again, the institute achieved 100% placements , with all its 264 MBA students getting placed. The batch of 2023-25 will be graduating this Sunday during the 11th convocation ceremony. The Indian Hotels Company Limited (IHCL) MD Puneet Chhatwal will be chief guest for the ceremony.A total of 264 students, including 117 girls, were admitted to the PGP batch 2023-25, and all appeared for the campus of IIM-N has been consistently growing among women learners which was evident from the growing percentage of girl students. The numbers touched over 44% for this batch, a jump of 2 Jodhpur boy is a qualified engineer in electronics and communications and worked in the banking sector for more than 2 years, IIM-N stated in response to TOI queries. Most number of jobs were offered by information technology enabled services (ITES) and banking, financial services, and insurance (BFSI) sectors. The most sought-after sectors were FMCG/FMCD, consulting, besides ITES and BFSI, the institute year-on-year growth in salary offers is pegged at 10.93% and 6.48% in average and median, respectively. The average and median package offers this year were Rs18.07 LPA (CTC) and Rs17.03 LPA (CTC), respectively. The recruiters included consulting, BFSI, ITES, manufacturing, FMCG/FMCD, and conglomerates. Prominent recruiters included Microsoft, Amazon, Adani, BNP Paribas, Vedanta, Aditya Birla Capital, Lupin, Tata Power, Axis Bank, Deloitte, Accenture, BNY Mellon, Cognizant, IFB Industries, FedEx, Vivo, and Valency International, among others, IIM-N director Bhimaraya Metri said the institute set a new benchmark with the participation of international recruiters mainly from the Gulf and Singapore, apart from Indian companies. "It is all about showcasing the institute to recruiters. We invited them to see our campus, communicated our achievements and growth, which impressed them," he said IIM-N is now the fastest-growing among the newer IIMs. "In the last five years, except for 2024, our students have been getting higher packages. We have strategically targeted the recruiters to mitigate the impact of global recession. We have developed strong rapport and connections with the corporate world," he students: 264 (147 boys, 117 girls)Jobs offered and accepted: 100%Pay package: Highest CTC Rs69.57 LPAMost sought-after sector: ITES, BFSI, FMCG/FMCD, consultingJump in salary offers: 10.93% and 6.48% in average and median, respectivelyAverage CTC: Rs18.07 LPAMedian CTC: Rs17.03 LPA
Express Tribune
22-04-2025
- Business
- Express Tribune
Govt backs out of wheat procurement
The Punjab Assembly witnessed a stormy session on Thursday as the provincial government announced it would neither fix the wheat procurement price nor purchase the crop this season — a statement that sparked strong backlash and a walkout by the Opposition. Tensions escalated when Pakistan Muslim League-Nawaz (PML-N) MPA Salma Butt, Special Assistant to the Chief Minister on Price Control & Commodities Management, outlined the government's policy on wheat. Butt clarified that the government would not intervene in setting wheat prices or procuring the grain. However, she claimed that farmer welfare remains a priority, noting an increase in the agriculture development budget from Rs29 billion to Rs64 billion. In a bid to offer relief, she announced the distribution of 1,000 free tractors to farmers between May 1 and May 30, 2025. She also said farmers would now be able to store their wheat and secure up to 70% of its value through bank financing. Opposition Leader Ahmad Khan Bhachar slammed the government's stance, likening it to telling farmers to "eat bread instead of roti." He accused the government of abandoning Punjab's agricultural community and demanded a Rs250 billion relief package to prevent farmer distress and hardship. "If the government doesn't cut its own extravagant expenses to support the farmers, they will starve," Bhachar warned, before leading the Opposition in a walkout from the session. Meanwhile, Minister for Auqaf and Religious Affairs Shafay Hussain admitted during the session that land grabbers had occupied several properties belonging to the Auqaf Department. He said the government had managed to reclaim five acres and three kanals of land and was working to recover more across the province. He also announced plans to introduce modern donation boxes resembling ATM machines at major shrines to improve transparency and collection efficiency. The Assembly is expected to continue debates on agriculture policy and land reforms in the coming days. LHC hearing The Lahore High Court (LHC) on Tuesday adjourned until May 2 the hearing of a petition seeking the wheat price to be set at Rs4,000 per 40kg, after the provincial government informed the court that the matter of wheat de-regulation is currently under consideration by the Punjab cabinet. Justice Sultan Tanvir Ahmad presided over the hearing, during which a representative from the provincial price control department told the court that a final decision regarding wheat pricing and procurement is expected soon from the cabinet. The federal government's counsel remarked that the petitioner should have approached the court in a timely manner, to which Justice Tanvir responded critically, questioning the state's preparedness. "Do you not know when the crop is ready? What about the common people if your condition is like this?" he observed. Petitioner Ghulam Abbas filed the case against the provincial government, the Secretary of the Food Department, and the Director General of the Pakistan Agricultural Storage and Services Corporation (PASCO). In his petition, Abbas argued that while the government plans to fix the wheat price at Rs2,200 per 40kg, the average cost of production per acre amounts to Rs3,600. He maintained that the failure to offer a fair price and to purchase wheat from farmers is both unethical and unlawful, adding that such policies would exacerbate the hardships faced by the agricultural community.
Express Tribune
14-03-2025
- Business
- Express Tribune
AirAsia launches direct Karachi-Kuala Lumpur flights
Listen to article Malaysia's budget airline, AirAsia, has announced direct flights to Karachi, offering affordable travel options for both business and tourism, with bookings now open. Starting May 30, the flights will operate four times a week. Business circles believe that this new service will further enhance the trade relations between the two countries. AirAsia CEO Benjamin Ismail expressed his enthusiasm about the new route, saying, "We are excited to introduce this service as it will allow us to strengthen our presence in the South Asian markets." He added, "Karachi is a major city that offers numerous opportunities in trade, tourism, and entertainment, and we are proud to connect it to our vast network." Karachi and Kuala Lumpur are not only important for business, but are also highly attractive for tourists. Both cities boast rich historical significance, beautiful beaches, and vibrant markets that captivate visitors. Karachi's historical landmarks, museums, and coastal areas, particularly the Churna Island and Turtle Beach, offer unique experiences for tourists. On the other hand, Kuala Lumpur's iconic Petronas Twin Towers, Batu Caves, and the sky-high chairlift at Chin Ting offer breathtaking views, alongside Malaysia's stunning islands that draw tourists from around the world. Promotional fares and booking Return tickets from Kuala Lumpur to Karachi start at 959 Malaysian Ringgit, with one-way tickets available from Rs64,990. According to the airline, these promotional fares are available for booking through the AirAsia Move app and the AirAsia website until April 20. The travel period is from May 30, 2025, to March 27, 2026.
