Latest news with #Rs730
Business Recorder
08-08-2025
- Business
- Business Recorder
PML-N govt flayed for exorbitant spending
LAHORE: The Pakistan Tehreek-e-Insaf (PTI) Punjab on Thursday castigated the Pakistan Muslim League-Nawaz (PML-N) government for exorbitant spending on its expensive lifestyle at the expense of the masses. 'When the public is deprived of necessities like flour, medicine, and electricity, when farmers are forced to throw their crops on the streets and when millions of youth are unemployed, spending Rs730 million on bullet-proof Mercedes is not just extravagance, but a blatant display of the looting mentality and anti-people governance of heartless rulers,' claimed Shayan Bashir, the head of PTI Punjab Media Cell. According to him, this anti-public decision comes at a time when 35 million citizens of Punjab are forced to live below the poverty line, 15 percent tax on medicines has made healthcare inaccessible for the poor, 165 mothers are dying per 100,000 births, farmers are being devastated due to a 25 percent increase in fertiliser prices, doubled water bills, and falling wheat prices; and unemployment has crossed 7.5 percent. 'This was money that could have been spent on public welfare, essential services, and the development of the province. There are many regions in Punjab where people do not have access to food or clean drinking water, yet the greed and insatiable appetite of the elite know no bounds,' he said. According to him, on July 7, 2025, he submitted a request to the Punjab Finance Department seeking details on the purchase, usage, and justification of these luxury vehicles. In response, the department absolved itself of all responsibility, shifting the burden entirely onto other departments. This response suggests either that the department is so incompetent that it released funds without any review or verification, or that this is part of a serious corruption scandal. Its refusal to provide information is not only unconstitutional, but also clear violation of the Right of Access to Information Act 2017, under which all government departments are obligated to provide information to the public. 'I will pursue both public protest and legal/constitutional action against this corruption and exploitative governance, to ensure that corruption is eradicated and the rights of the people are protected,' he added. Copyright Business Recorder, 2025
Express Tribune
07-08-2025
- Business
- Express Tribune
PTI alleges corruption in bulletproof car purchase
Pakistan Tehreek-e-Insaf (PTI) has sharply criticised the Punjab government's decision to allocate Rs730 million for the purchase of bulletproof vehicles, calling it a symbol of extravagant spending amid worsening economic conditions for the general public. In a statement, Shayan Bashir, Head of PTI Punjab's Media Cell, condemned the move as "a blatant display of anti-people governance." He said the government's priorities are misaligned with the needs of the population, who are facing critical shortages of affordable flour, electricity, and medicine. Bashir highlighted that over 35 million people in Punjab live below the poverty line and a 15% tax on medicines has further restricted access to healthcare. He pointed to alarming maternal mortality rates — 165 deaths per 100,000 births — as well as rising costs in the agricultural sector, with farmers grappling with a 25% increase in fertiliser prices, higher water bills, and poor returns on wheat. "Unemployment has crossed 7.5%, yet the government continues to spend lavishly on itself instead of addressing the basic needs of the people," Bashir said, adding that many communities still lack clean drinking water and sufficient food. He also recalled a previous approval of Rs7.5 billion for luxury vehicle procurement, alleging a continued lack of transparency from the Punjab Finance Department. On July 7, Bashir submitted a formal request for records related to the purchase and usage of the vehicles. In its reply, the department denied responsibility and referred the matter to other government bodies.
Express Tribune
07-08-2025
- Business
- Express Tribune
PTI slams Punjab's Rs730m bulletproof vehicle purchase
Listen to article Pakistan Tehreek-e-Insaf (PTI) has sharply criticised the Punjab government's decision to allocate Rs730 million for the purchase of bulletproof vehicles, calling it a symbol of extravagant spending amid worsening economic conditions for the general public. In a statement, PTI Punjab's Media Cell Head Shayan Bashir condemned the move as 'a blatant display of anti-people governance.' He said the government's priorities are misaligned with the needs of the population, who are facing critical shortages of affordable flour, electricity, and medicine. Bashir highlighted that over 35 million people in Punjab live below the poverty line and a 15% tax on medicines has further restricted access to healthcare. He pointed to alarming maternal mortality rates—165 deaths per 100,000 births—as well as rising costs in the agricultural sector, with farmers grappling with a 25% increase in fertiliser prices, higher water bills, and poor returns on wheat. Read More: PTI won't recontest disqualified seats: Imran 'Unemployment has crossed 7.5%, yet the government continues to spend lavishly on itself instead of addressing the basic needs of the people,' Bashir said, adding that many communities still lack clean drinking water and sufficient food. He also recalled a previous approval of Rs7.5 billion for luxury vehicle procurement, alleging a continued lack of transparency from the Punjab Finance Department. On July 7, Bashir submitted a formal request for records related to the purchase and usage of the vehicles. In its reply, the department denied responsibility and referred the matter to other government bodies. 'This response either reflects dangerous administrative incompetence or a deeply rooted corruption scandal,' he stated. He accused the department of violating the Right of Access to Information Act, 2017, which obligates public institutions to disclose such information. Bashir also criticised Chief Minister Maryam Nawaz, accusing her administration of masking systemic corruption with populist rhetoric. 'This is undeniable evidence of administrative dishonesty,' he said. He vowed that PTI Punjab would pursue legal and constitutional avenues, as well as public protest, to challenge what he termed 'exploitative governance.'
Express Tribune
06-08-2025
- Business
- Express Tribune
Restored MNAs yet to receive pending salaries
Eighteen members of the National Assembly (MNAs), recently reinstated to reserved seats, are now awaiting the release of their salaries accumulated during their year-long suspension. The National Assembly Secretariat is facing uncertainty over whether the reinstated lawmakers are entitled to receive salaries for the period they were de-notified. The secretariat has sought advice from the Finance Department on the matter, and a final decision is expected during the ongoing NA session following approval from the speaker. As of January 2025, the monthly salary for an MNA stands at Rs730,000. If the pending payments are approved, each of the 18 MNAs is expected to receive around Rs7.1 million in arrears. The total disbursement required for all 18 lawmakers amounts to approximately Rs127.8 million. It is worth noting that these members were de-notified on May 13, 2024, following a Supreme Court ruling. However, the apex court reversed its decision on July 2, 2025, and reinstated all 18 lawmakers. Among those restored are 15 women and three minority representatives.
Business Recorder
23-04-2025
- Business
- Business Recorder
Kohinoor Energy profit declines 60% to Rs180mn in Jan-Mar 2025
Kohinoor Energy Limited registered a decline of 60% in its profit for the quarter ended March 31, 2025, against the same period last year, according to the company's condensed consolidated interim statement announced in a notice to the Pakistan Stock Exchange (PSX) on Wednesday. The company announced a profit of Rs180 million in the said quarter, against Rs442 million made in the same period the previous year. Its sales for the first three months of 2025 stood at Rs1.06 billion, down by 59% from Rs2.59 billion recorded in the same period last year. Kohinoor Power, Saritow Spinning cancel proposed amalgamation citing economic challenges The cost of sales remained at Rs730 million, against Rs1.94 billion in the same period the previous year. Resultantly, the company's gross profit stood Rs333 million, down 50% from Rs653 million. Kohinoor Energy's profit before tax stood at Rs181 million in Jan-Mar 2025, against Rs442 million recorded in the same period the previous year.
