Latest news with #Rs901
Time of India
16-05-2025
- Business
- Time of India
BG cotton seed prices up but discounts likely due to abundant supply
1 2 Nagpur: Though rates of BG cotton seeds have gone up to Rs901 per packet, a hike of Rs35 compared to last year, they are expected to be still available at a discount this kharif season due to abundant availability. BG cotton is genetically modified variety resistant to pink bollworm, a major pest that attacks the crop. The rates are fixed by govt, and there have been years when a hike was implemented. Cotton, due to its variations in price and output, is linked to agrarian crisis in the region. Any change in the prices makes a difference to the farmers from Vidarbha, as western districts of the region form one of the prominent cotton-growing belts of the country. Traders, including members of Nagpur Agro Dealers Association, told TOI that supply is abundant because of a favourable season throughout the cotton-growing parts of the country. "Seed companies produce the seeds in farm blocks belonging to private growers. Good weather ensured enough output," said a trader in Nagpur, adding due to excessive supply, traders may woo farmers with discount. However, traders also accept that grey market of herbicide-tolerant (HT) seeds eats away their business. BG cotton seeds are only resistant to bollworm. HT seeds are also resistant to weed killer, which saves labour costs. Though not approved for commercial use, farmers prefer to buy HT seeds illegally, said traders. The matter has been raised with authorities from time to time, they say.
Express Tribune
25-04-2025
- Business
- Express Tribune
Non-allotment of land causes loss of Rs4b
An audit report, presented to the Public Accounts Committee (PAC), has raised an objection over a Rs4 billion loss caused by the non-allotment of 1,250 acres of land by the Port Qasim Authority (PQA). According to the Auditor General of Pakistan's (AGP) report, a lease agreement for the 1,250 acres of land was signed between Port Qasim and the Pakistan Telecommunication Company Limited (PTCL). In 2021, a decision was made to cancel the lease agreement. However, the government's decision to cancel the lease was not implemented for two years. A refund of Rs4 billion has also not been made to the PTCL. The 1,250 acres of land have not been re-allotted. The secretary maritime affairs told the Public Accounts Committee (PAC) that the matter of this land lease is 19 years old and the land remained with the PTCL from 2006 to 2021. "It was originally given to PTCL for establishing the Textile City Industrial Zone. The PTCL failed to develop the industrial zone in these 19 years. After the cancellation of the lease, this 1,250-acre land is now being taken back," he added. According to the secretary, the PQA will also clear PTCL's outstanding expenses. PAC Chairman Junaid Akbar Khan asked how much revenue was generated from the 1,250-acre lease. Port Qasim officials replied that Rs901 million was received once, and Rs621 million is still due. The PAC later ordered the Ministry of Maritime Affairs to resolve all audit-related matters within six months.
