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Arab News
20 hours ago
- Business
- Arab News
Pakistan launches digital payment services at train stations in modernization push
ISLAMABAD: Pakistan's Railways Minister Hanif Abbasi on Tuesday announced the launch of digital payment services at several train stations across the country, marking a significant milestone in the department's modernization efforts. The announcement follows the signing of a memorandum of understanding between Pakistan Railways and Allied Bank Limited in June to launch Point of Sale (POS) systems at 348 railway stations across the country. The installation of POS systems aims to modernize ticketing, simplify payment procedures and improve financial transparency within the railways department, according to Abbasi. "POS machines have started their work at some stations," he told reporters at the ceremony in Lahore. "God willing, we will be installing ATM machines and POS systems in 348 stations." Train passengers will now be able to purchase tickets and access other railway services using debit and credit cards, according to the minister. The POS systems are expected to enable faster and more efficient transactions, eliminating long queues and manual procedures. The initiative will also help Pakistan Railways boost revenue while curbing financial fraud, theft and accounting errors. Pakistan's Prime Minister Shehbaz Sharif attended the ceremony as the chief guest and praised the efforts of both the current and former management of the railways department. In 2024, Pakistan Railways achieved a 40% revenue increase to Rs88 billion, according to Pakistani state media. The department added 229 new wagons, introduced 10 new trains, and enhanced passenger services with increased coach capacity and premium lounge dining cars. Alongside the latest initiative, Abbasi said, the department would also ensure improved inspection and stronger staff presence.
Hans India
23-07-2025
- Business
- Hans India
Government forgoes Rs 99K cr tax revenues via incentives in FY24
New Delhi:The government is estimated to have forgone around Rs 99,000 crore in revenue in the 2023-24 fiscal on account of tax incentives extended to corporates, Minister of State for Finance Pankaj Chaudhary said on Tuesday. Corporate tax rates have been gradually reduced since 2016, while phasing out the exemptions and incentives. In a written reply in the Rajya Sabha, Chaudhary gave the estimated revenue forgone due to the tax incentives by way of various deductions in corporate tax, from FY 2019-20 to 2023-24. The corporate tax revenue foregone in 2023-24 stood at Rs98,999, followed by Rs88,109 crore and Rs96,892 crore in 2022-23 and 2021-22, respectively. In 2020-21 and 2019-20, the total corporate tax revenue foregone was Rs75,218 crore and Rs8,043 crore respectively. The minister was replying to a question from AAP MP Raghav Chadha on the estimated loss to the exchequer due to the corporate tax reductions from 2019-20 to 2024-25, and for the financial year (2024-25). Estimated revenue foregone for the financial year 2024-25 till date is not available, Chaudhary said. Through Finance Act, 2016, the corporate tax rates were reduced to 29 per cent of the total income to promote growth, boost investment and create more job opportunities. In 2017, the corporate tax rates were reduced to 25 per cent of the total income, make smaller domestic companies having annual turnover of Rs50 crores more viable and to encourage firms to migrate to company format. In September 2019, the government announced a cut in base corporate tax for then existing companies to 22 per cent from 30 per cent; and for new manufacturing firms, incorporated after October 1, 2019, to 15 per cent from 25 per cent, provided they forego all exemptions and incentives. Vide Finance Act, 2024, tax rates on the income of foreign companies (other than that chargeable at special rates) have been reduced from 40 per cent to 35 per cent to promote investment and employment.
Hans India
21-07-2025
- Politics
- Hans India
CM, Dy CM offer ‘bagina' at Kabini reservoir
Mysuru: ChiefMinister Siddaramaiah and Deputy Chief Minister DK Shivakumar on Sunday performed the traditional bagina ritual at the Kabini reservoir in Beechanahalli, to mark the filling of the state's first major dam this monsoon. The Kabini reservoir, known for reaching capacity early during monsoon, had already touched near-full level by the first week of June. On Sunday, the water level stood at 2,283.33 feet, just short of its maximum capacity of 2,284 feet, with an inflow of 15,000 cusecs. After offering bagina at the dam's tower premises around 11:15 am, CM Siddaramaiah laid the foundation stone for rejuvenation works worth Rs32.25 crore. Speaking to the gathering, Siddaramaiah highlighted the importance of the Kapila river — a major tributary of the Cauvery — which irrigates over 1.13 lakh hectares. 'Like every year, bagina has been offered praying for prosperity to our farmers. A Brindavan-like landscape will also be developed near the dam for tourists,' he added. Reiterating the government's commitment to the Mekedatu balancing reservoir project, the CM urged the Centre to grant clearances. 'Both the Goa and Union governments are under BJP's control — they should ensure permission for Mahadayi and Mekedatu,' he said. Deputy CM Shivakumar said the Cabinet, which met at Mahadeshwara Hills recently, had approved Rs88 crore for rejuvenating the dam and was committed to the reservoir's holistic development. District in-charge minister Dr HC Mahadevappa, MLAs Anil Chikkamadu, K. Harish Gowda, Darshan Dhruvanarayana, AR Krishnamurthy, and MLC Dr D Timmaiah were present.
Hans India
21-07-2025
- Politics
- Hans India
Technical panel's report will guide dam safety works: DKS
Mysuru: DeputyChief Minister and Water Resources Minister DK Shivakumar on Sunday announced that the state government has constituted a technical committee to assess the safety of dams across Karnataka. Repair and development works will be taken up based on the committee's recommendations, he added. Speaking to reporters on Sunday near the Kabini reservoir after offering bagina, DCM Shivakumar observed that this was the first time in two years that the reservoir had filled up. 'After KRS, today we offered bagina at Kabini. This dam has supported us even in difficult times,' he said. He also confirmed that a proposal to expand the Kabini region had been put forth by local MLAs, and that the government had approved Rs35 crore worth of developmental works in the area. Additionally, a Rs88 crore micro-irrigation project DPR had been prepared and submitted. Referring to the Tungabhadra dam gate repairs, he stated that the incident prompted the formation of a technical committee to review the safety of all state dams. 'We will act on their findings as soon as the report is submitted,' he assured. When asked about the proposal for a Kabini Utsav and Kaveri Aarti, he said discussions would be held with district ministers and local leaders to promote tourism and employment through such events. On the stalled botanical garden project, he said that while private investment was welcome, the current priority remained optimal water use and dam safety. Regarding his sudden Delhi visit, Shivakumar clarified it was a private legal matter. 'I informed the Chief Minister, attended a brief meeting with lawyers, and returned the same night,' he explained. Reacting humorously to BJP's claim of disrespect towards him, he quipped, 'They always show me extra love because I'm stronger.'
Time of India
07-07-2025
- General
- Time of India
Radial gates of 64k cusec discharge capacity to be fitted in Maha's oldest dam
Kolhapur: Radial gates with a discharge capacity of 64,000 cusecs will be fitted into Radhanagari Dam — the oldest in Maharashtra — built across Bhogawati river, one of the five tributaries of Panchganga in Kolhapur. The construction of the dam started in 1909 and was funded by Rajarshi Shahu Maharaj. It was completed in 1935 and came into full use three years later. The design of the dam was made by M Visvesvaraya, who later came to be known as the "father of engineering" in India. The decision to fit radial gates, which can be operated remotely, was taken to ensure that the dam has adequate buffer capacity to accommodate water inflow during monsoon. Currently, the automatic gates can open only after the dam is full, posing a risk of floods after sudden discharge. "The radial gates will help us carry out the discharge beforehand and make space for inflow. We have got the design of the radial gates prepared by Central Designs Organisation (CDO) Nashik. The hydraulic hoists will also be fitted to lift the automatic gates whenever required. The total cost of the project is Rs88 crore," said Smita Mane, executive engineer, Kolhapur Irrigation Circle. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Global Indices Are on the Move — Time to Trade! IC Markets Learn More Undo Recently, district guardian minister Prakash Abitkar visited the dam. He said that to stop Panchganga river from flooding, various measures have been suggested by experts, one of which is fitting radial gates into the dam. "The World Bank has approved Maharashtra Resilient Development Programme through which the works will be carried out. The hydraulic hoists will be installed to open three service gates," said Abitkar. Rainfall intensity in Kolhapur city has decreased, but heavy rainfall continues in dam catchment areas of Kolhapur district. The dams in the district are filling up quickly, and out of 17 dams, discharge is on from 16. Except for Chikotra dam, water is being discharged from all other dams. Radhanagari has been discharging 3,100 cusecs, Warna 4,500 cusecs, Dudhganga 1,500 cusecs, Kasari 1,000 cusecs, Ghatprabha 5,800 cusecs, and Dhamani 2,803 cusecs, among others, have the highest discharge in the district. According to district disaster management officials, the ongoing discharge from dams has caused the rivers in the district to flow above their water-holding capacity. A total of 29 roads and 48 barrages in the district are inundated, significantly affecting local traffic movement. On Monday evening at 7 pm, the water level of Panchaganga river dropped slightly to 31.1 feet at Rajaram barrage in Kasba Bawda area of Kolhapur city. The warning level is 39 feet, and the danger level is 43 feet. A discharge of 32,456 cusecs was on from Rajaram barrage. Kolhapur district received 16.1 mm of rainfall over last 24 hours till 10am on Monday. Gaganbawda received the highest rainfall of 40.3 mm, followed by Shahuwadi with 27.7 mm, and Panhala with 27.5 mm.
