Tag: Rs

ISLAMABAD - The government has decided to release Rs 30 billion immediately to the cash strapped Pakistan State Oil, another Rs 30 billion would be paid by the end of current financial year.
The government has also directed the largest power sector defaulter, Pakistan Electric Power Company, to make arrangements for making payment of Rs 10 billion monthly to the company during the remaining four months of current fiscal year.
An official source informed that the decision

ISLAMABAD - Irrespective of the fact that the government has tagged 1909 industries as 'sick units', the government has spent around Rs 10 million on sending official delegations abroad for boosting trade cooperation between Pakistan and friendly countries during the past three years. During the Question Hour in National Assembly on Thursday, Minister for Industries and Production Mir Hazar Khan Bijrani informed the legislators of the lower house of the parliament that a sum of Rs

KARACHI - Board of Director's of National Bank of Pakistan in their meeting held on March 01, 2011 approved the financial statements of the bank for the year ended December 31, 2010 and announced 25 percent bonus and 75 percent (Rs 7.5 per share ) cash dividend payout to the share holder's for the year 2010. In an already challenging environment, historic floods in the country intensified the effects on already fragile economy.
The floods affected around 20 million people,

KARACHI - Silkbank Board, in its meeting on March 02, 2010, approved the annual accounts for the year 2010. Silkbank made a remarkable turnaround by more than doubling its revenue numbers. Total revenue in 2010 increased from Rs 719 million to Rs 1.524 billion, a growth of 112 percent. This achievement was attributed to the launch of new products, increase in business volumes and growth in non-fund based income. Cost of funds recorded a reduction and the overall yield on earning

Lahore - The Unification Bloc MPA Arshad Jutt had demanded Rs 50 million for joining PPP but the party refused to adopt turncoats, said former ministers of Punjab cabinet Tuesday. Addressing a news conference held at Lahore Press Club (LPC), Pakistan People's Party PPP's former minister for population welfare, Neelam Jabbar added that the PPP did not believe in horse-trading and had turned down all offers of turncoats in the past.
Neelam said PPP believes in serving the masses

ISLAMABAD - Prime Minister (PM) Syed Yousaf Raza Gilani announced Rs 1.7 billion on Tuesday for the rehabilitation of around 32,000 internally displaced people (IDP) of Kurram Agency (KA) who had to leave their homes because of sectarian riots and militancy. He told members of a grand jirga from KA in a meeting at Prime Minister's House that Rs 1 billion would be provided to the IDP from the current budget and Rs 700 million from the next.
He appreciated the efforts of Federally

KARACHI - The government is expected to collect Rs 60-63 billion by the end of June 2011 against a target of Rs 110 billion in FY11, if it maintains Petroleum Levy (PL) at current levels. This time, the government has not only passed on the impact of higher oil prices in the month of February, but has also reverted PL by Rs 3.0 to Rs 5.0 per liter on major oil products.
PL on Petrol and Diesel, which cumulatively contributes 82 percent of the total regulated oil products sales,

SIALKOT - A warm welcome was accorded to Dr Firdous Ashiq Awan on her arrival at her native village Koobey Chak in Bajwat here on Sunday for the first time after getting the portfolio of federal minister for information and broadcasting.
She spent a busy day in Sialkot along with PPP leaders, AJK President Raja Zulqarnain and Gilgit-Baltistan Chief Minister Syed Mehdi Shah. Raja Zulqarnain and Syed Mehdi Shah jointly inaugurated several development projects worth Rs 200 million

DASKA - Punjab Chief Minister Shahbaz Sharif has approved special grant of Rs 90 million for the early repair, reconstruction and widening of three main roads. The PML-N leader from Daska MPA Yahya Gul Nawaz said the CM had approved this grant during his recent visit to Sialkot.
He said Rs 40 million would be spent on upgrading the Daska city's main College Road and construction of a service road along it. He said the government was spending Rs 50 million on the reconstruction of

FAISALABAD - Rs 1.15 billion have been allocated for development schemes under big city development programme for Faisalabad and Jhang on the direction of Punjab Chief Minister Shahbaz Sharif," disclosed Divisional Commissioner Syed Tahir Hussain.
Chairing a meeting of senior officials of the Faisalabad division, he directed the heads of nation-building departments to initiate the construction work on the big city development projects without any further delay. The meeting was

LAHORE - Some may find it hard to believe, but it is true that there are some centres in the Indian state Chattisgarh where people can get a meal for five rupees only. According to the BBC, the Indian govt had started the programme in 2004 under which 150 centres, managed by social organisations and panchayats (traditional local councils), are functioning across the state. The meal comprises rice, pulses, vegetables and pickle.
One of such centres is in the premises of the

LAHORE - The Federal Board of Revenue (FBR) Directorate of Intelligence and Investigation has unveiled a massive tax fraud of around Rs 118.60 million in multiple cases of tax evasion.
Data available with Pakistan Today shows that FBR Intelligence and Investigation Wing Faisalabad Directorate General uncovered a sales tax scam to the tune of Rs 109 million in the last 15 days.
Sources at FBR disclosed that a Gojra resident, Abrar Hussain, who was running an electrical

KARACHI - Sindh Commerce and Industries Minister Rauf Siddiqui on Thursday instructed the Sindh Industrial and Trading Estate (SITE) Ltd to recover outstanding dues of at least Rs 10 million from various private and government departments by March 30.
The directions came in the meeting of SITE officials with the provincial minister, who also ordered the computerisation of all SITE departments so the functioning of the industrial body could be further improved.
Commerce and

KARACHI - Four hour load-shedding has resulted in Rs 500 million losses in Tannery Zone for the last three days in terms of production hours and damage to stocks. Pakistan Tanners Association (SZ) Chairman Aziz Ahmed, while expressing his grave concern over ongoing load-shedding in industrial areas for the last three days, said that due to abrupt decision of KESC to start four hours electricity load-shedding had resulted in losses of over Rs 500 million and exporters were fearing

FAISALABAD - District Coordination Officer (DCO) Nasim Sadiq has said that under the Punjab Chief Minister Shahbaz Sharif's big city development package, Rs 650 million are being spent on different uplift schemes in the city to solve the problems of heavy traffic and sewerage.
He disclosed the details of the schemes while chairing a meeting to review the pace of implementation on the big city development package of the CM. Tthe meeting was also attended among others by EDO

ISLAMABAD - The Senate Standing Committee on Finance was told on Wednesday that the size of the Public Sector Development Programme (PSDP) had been reduced from Rs 242 billion to Rs 150 billion with a cut of Rs 92 billion. According to the Planning Commission presentation, Growth Strategy and Economic Reforms, given by Deputy Chairman Dr Nadeemul Haq, around 1,822 projects being executed all over the country at present with an estimated cost of Rs 4.080 trillion had faced

ISLAMABAD - The Federal Board of Revenue (FBR) Chairman Salman Siddique on Wednesday said the FBR had proposed a revenue generation plan of Rs 25 billion that included 15 percent flood surcharge on withholding and advance taxes and increasing 1.5 percent Special Excise Duty.
At a presentation to the Senate's Standing Committee on Finance and Revenue on revenue shortfall for the fiscal year 2010-11, Siddique said the proposed revenue measures would be brought through legislation