Latest news with #Rs9


Business Recorder
a day ago
- Business
- Business Recorder
Sugar price in capital soars to Rs210 per kg
ISLAMABAD: Sugar price in federal capital has reached Rs210 per kg level against government fixed price of Rs170, Business Recorder noted. According to retailers the distributors have stopped supplying sugar to the shopkeepers even at Rs9,000 per bag of 50kg which prior to government permission to the sugar millers was selling at Rs6,000 a year ago, but after attaining export permission and successfully exporting the allowed quantity, the millers gradually started escalating sugar prices and recently in wholesale market it touched Rs9,400 mark. The retail sugar prices after Ramadan 2025 have witnessed a sharp increase and reached from Rs135 per kg to Rs210 per kg mark an increase Rs75 per kg or 55 percent. Shopkeepers said that for a few days, the commodity price after government action came down but consequently owing to supply shortage by the sugar millers, the stockists/distributors also stopped supply of the commodity to the retailers, as a result now prices have touched all time high even on superstores. Business Recorder in April 2024 had mentioned the plan of the sugar industry of taking the ex-mill sugar price to Rs170 per 50 kg bag, saying that sugarcane prices have gone up from Rs350 per 40kg to Rs450. In a meeting of Sugar Advisory Board held on April 2024 'the millers argued that in 2023 sugarcane price was Rs350 per 40kg which now has reached to Rs450 per 40kg and production cost of sugar at present stands at Rs170 per kg while in retail market refined sugar was available in the range of Rs145-150 per kg which is lowest price in the world'. The Pakistan Sugar Mills Association (PSMA) prior to attaining sugar export permission had ensured the government of devising a mechanism where by price stability of sugar will be ensured before exporting surplus stock produced in the country. As per April 2024 SAB's meeting, the provinces and PSMA would ensure smooth supply of commodity in the domestic market and the price stability till start of next crushing season. It was agreed to seek authenticated data on available sugar stocks, including expected sugar production from beet, and recommendations regarding export from provinces before taking any final decision on the export of sugar. The representatives of PSMA informed the government officials that Pakistan at present has around 1.6 million tons of additional sugar which should be exported. The PSMA has asked the government to allow export of one million tons of refined sugar in first phase which will bring around $650-700 million foreign exchange for the country and rest of the 0.6 million tons sugar be exported in two phases in May and June 2024. The PSMA in 2024 also informed the government that if the government did not allow sugar export it will result in the smuggling of the commodity to Iran, Afghanistan and other countries as a result the country will be deprive of the precious foreign exchange while smugglers will take advantage of the situation. According to the officials, locally industrial sector was consuming 85 percent of the sugar while the rest 15 percent was of domestic use. Copyright Business Recorder, 2025


Express Tribune
18-07-2025
- Express Tribune
Umrah scam suspect netted
Sadiqabad police claimed on Friday to have arrested a highly skilled con artist who targeted elderly citizens by deceiving them with promises of facilitating Umrah pilgrimages, recovering stolen items worth millions of rupees from the suspect. Using smooth talk and religious pretexts, the suspect gained access to victims' homes, where he stole significant amounts of cash, jewelry, and other valuables. According to Operations SSP Kashif Zulfiqar, stolen items worth over Rs9 million have been recovered from the suspect and returned to their rightful owners. For several months, the accused had been operating across Rawalpindi, particularly preying on elderly and unsuspecting individuals. He would gain their confidence by presenting himself as a facilitator for religious travel, then use that trust to access their homes and rob themeither by stealth or deception. At least seven cases of a similar nature had been registered against the suspect at Sadiqabad, New Town, Pirwadhai, and Morgah police stations. His activities had become a serious concern for law enforcement. To apprehend the criminal, Rawalpindi City Police Officer Khalid Hamdani assigned the case to Rawal SP Muhammad Haseeb and Sadiqabad SHO Luqman Javed. The investigation team worked in collaboration with technical and IT experts to trace the suspect. Following a recent incident in Sadiqabad involving another elderly victim, investigators reviewed CCTV footage from the area, leading to the identification and arrest of the suspect, Qaiser Hussain, a resident of Tench Bhatta. During interrogation, he confessed to his involvement in multiple such incidents. Police officials confirmed that valuables worth over Rs9m, stolen over a series of incidents, have been recovered.


Time of India
13-07-2025
- Time of India
Jeweller accused of cheating bullion trader of Rs9 lakh
Nagpur: A case of cheating was registered at Tehsil police station against Papul Khan, a 37-year-old jeweller from Itwari. The complainant, Chandrakant Bheran, 44, a resident of Suryanagar, alleged that Khan duped him off Rs9 lakh. Khan gained Bheran's trust by making jewellery at a low cost. On April 5, Bheran gave Khan 98 gram of old gold and jewellery, worth approximately Rs9 lakh, to create new ornaments. Khan allegedly failed to deliver the promised items to Bheran. Following the complaint and preliminary investigation, a case was registered at Tehsil Police Station.


Time of India
12-07-2025
- Time of India
Cops arrest two, detect 3 burglaries in Nashik
Nashik: Two men were arrested for alleged burglaries on Saturday. According to Crime Branch unit two officers, a case of house break-in was registered with Upnagar police station on June 21, in which cash and articles worth over Rs9 lakh were stolen from two bungalows in the city's Deolaligaon area. The accused burglars have been identified as Afzal Sayyad (29) of Bhagur and Vikas alias Vikky Sudhakjar Patekar (32) of Sant Kabirnagar, Gangapur Road. On June 21, when the police visited the crime spot and checked CCTV cameras, they found two men in raincoats and faces covered entering the bungalows. Police officers said they checked close to 90 CCTV cameras in the area to track the duo. They identified the two suspects, laid a trap and arrested them. The duo confessed to committing the burglaries and also confessed to another they committed in June last year at Anandwali, Gangapur Road. The police have so far recovered jewellery and a bike worth Rs64,000.


Express Tribune
08-07-2025
- Business
- Express Tribune
PAC unearths Rs1.2b bank loan scandal
An audit report presented to the Public Accounts Committee (PAC) has revealed that Zarai Taraqiati Bank Limited (ZTBL) employees caused a loss of Rs1.2 billion to the national treasury through a fraud involving forged documents. Audit officials on Tuesday told a meeting of the PACheld under the chairmanship of Junaid Akbar on Tuesdaythat in several cases, loans sanctioned for farmers never reached them as ZTBL employees misappropriated these loans. Appearing before the committee, ZTBL president stated that the bank dismissed 400 employees found involved in altering loan documents. "We have placed personal contact numbers and awareness boards in every branch. We have recovered Rs270 million so far, and recovery efforts are ongoing," he said. The committee asked the president to address the issue in coordination with the audit department. It was also revealed that the ZTBL had failed to recover Rs9 billion in loans with 1,601 borrowers not returning even a single rupee. Audit officials said only 16% of recoverable amounts were collected from borrowers in Quetta, Karachi, and Lahore. They also noted a growing number of loan defaulters across the country. MNA Khawaja Sheraz asked why is the ZTBL constantly sinking when the banking sector is profitable. The ZTBL is a state-owned agricultural development bank that provides agricultural credit and banking services to farmers across the country. It remains the largest public sector agriculture development financial institution in the country. The PAC also took suo motu notice on Jamshed Dasti's request regarding a loss of 1.1 million litres of petrol at the Pakistan State Oil (PSO) due to employee negligence. The PSO managing director (MD) told the committee that the estimated value of the lost petrol is Rs180 million. "We recovered Rs40 million from the responsible employees after dismissing them," he said.