Tag: Rs

SIALKOT - PML-N MNA Khawaja Muhammad Asif on Thursday said Chief Minister Shahbaz Sharif had approved a special grant of Rs 700 million for 10 mega socio-economic and public welfare-oriented projects. Addressing a party workers' meeting, he said this development package would be a gift from the CM to the people of Sialkot.
He told the participants of the meeting that work was briskly underway for the widening and reconstruction of main Sialkot-Daska-Gujranwala Road, adding this

ISLAMABAD/KARACHI/LAHORE - Sticking to their guns on the demand of removal of PIA MD Ejaz Haroon, the enraged workers of the national carrier continued their protest on the third consecutive day on Thursday, virtually paralysing flight operations countrywide.
The government sent its trouble-shooter, Interior Minister Rehman Malik to convince the angry PIA workers after its two-member ministerial committee comprising Khursid Shah and Ahmad Mukhtar failed to woo the Joint Action

LAHORE - Two prizes in microbiology will be awarded to MPhil students annually for exhibiting excellence in research and academics, University of Health Sciences (UHS) Vice Chancellor Professor Dr Malik Hussain Mubbashar announced on Tuesday.
The UHS VC made the announcement at the inaugural session of a 3-day 'hands-on' workshop on microbiology at university. The UHS microbiology department organised the workshop for young microbiologists to learn, under expert supervision, the

ISLAMABAD - The ineptness and lack of vision of the government is evident from the fact that Rs 500 million has gone down the drain as costly mobile scanners bought by the Interior Ministry have been rusting at Islamabad Police Lines for the last ten months.
A source in the ministry told Pakistan Today that due to Finance Ministry's refusal to release funds for the fuel of mobile scanners imported from China a year ago for installation at capital's entry points, the security

ISLAMABAD - A mega scam in the federal Interior Ministry involving embezzlement of Rs 825 million is in the making, as officials have not provided auditors with the details of the money credited into the government's account. Documents available with Pakistan Today reveal that the Interior Ministry had issued 88,838 arms licenses in 15 months from March 28, 2008 to June 30, 2009.
The estimated fee collected by the Interior Ministry for these arms licenses was Rs 515.51 million

KARACHI - The country's leading fertiliser manufacturing company, Fauji Fertiliser Company Limited (FFCL), has decided to increase its Authorised Share Capital (ASC) by Rs 5.0 billion, Pakistan Today learnt Friday.
The urea giant is also planning to capitalise over Rs 1.696 billion out of the company's reserves to be applied for the issuance of some 169,631,766 ordinary shares valued at Rs 10 each. The FFCL, which contributes over 40 percent in the country's urea production, has

ISLAMABAD - The government has collected Rs 9.7 billion under the head of TV license fee from 11.720 million customers during the last three years through electricity bills. Ministry of Information and Broadcasting in a written reply informed the National Assembly that currently, the total number of customers of electricity from whom the amount being deducted in the head of TV licence fee on electricity bills in the country is 11.720 million.
Giving the breakup, the ministry

ISLAMABAD - Due to financial constraints, the Ministry of Finance has turned down a request by the Pakistan International Airline (PIA) for a bailout package of Rs 15 billion and has asked the airline to improve its management. An official source said the PIA management wanted an immediate provision of Rs 15 billion, as the airline was facing liquidity crunch.
They also demanded the rolling over of the debt of Rs 143 billion. PIA is also not able to borrow from the market due to

LAHORE - Competition Commission Pakistan (CCP) has fined Rs 23 million on Pakistan Jute Mills Association (PJMA) and its 10 member mills charging cartelised behaviour and malpractices. This was disclosed by the CCP Chairperson Rahat Kuanain Hassan, while addressing the members of the Lahore Economic Journalists Association here on Thursday.
CCP chairperson said that the commission's policy of targeting business malpractices through dialogue had begun to yield positive results as

ISLAMABAD - The minister of state for railways, Afzal Sandhu Wednesday informed the house that the Pakistan Railways had suffered a loss amounting to Rs 54213.653 million in the last three and half years.
"The PR suffered loss of Rs 5326.162 million in 2007-08, Rs 18609.121 million in 2008-09, Rs 20152.619 million in 2009-10 while the loss in the first half of the current fiscal year has reached to Rs 10125.751 million," the minister further informed the house during the Question

KARACHI - The Provincial Development Working Party (PDWP) on Thursday approved at least 13 developmental schemes worth Rs 5.984 billion for the province.
The decision came at a meeting presided over by Planning and Development (P&D) Department Chief Economist Dr Masood Kazi at the department's committee room on Thursday.
The projects approved by the PDWP have already been cleared by the technical committee after detailed discussion and observations. The meeting approved four

LAHORE - Marketing companies on Thursday reduced LPG price by Rs 5 to 10 per kilogramme following reduction in Saudi Aramco's contract price by $111 per tonne.
According to a press release issued by the All Pakistan LPG Distributors Association, marketing companies had reduced the price by Rs 11,300 per tonne, while price of an 11.8 kilogramme domestic cylinder has been decreased by Rs 60 to 110 and 45.4 kilogramme commercial cylinder by Rs 220 to 433 per kilogramme.
All

ISLAMABAD - The executive board meeting of the National Accountability Bureau (NAB) on Wednesday approved complaint verification against PML-N MNA Anjum Aqeel for his alleged involvement in a fraud of Rs 6 billion in the non-transfer of land to National Police Foundation (NPF).
The meeting also approved filing of 11 references against corrupt officials while six complaints were also approved for verification. A source told Pakistan Today that there was enough material against the

KARACHI - State Life Insurance Corporation of Pakistan has secured Rs 9.33 billion as First year Premium (New Business) during 2010 with an increase of almost 35 percent compared to last year. This was revealed by State Life Chairman Shahid Aziz Siddiqui, while speaking to media.
He said that the renewal premium has also touched the figure of Rs 19.54 billion showing an increase of 28 percent during January to December 2010 as compared to the corresponding period last year. The

ISLAMABAD - The local Sabzi Mandi remains littered with rotten fruit and vegetable though the Capital Development Authority (CDA) has claimed to spend Rs 1.7 million a month to keep it clean. "CDA contractors, in connivance with some officials concerned, have only minted money out of leaving the garbage in the mandi," said a source requesting anonymity.
The source said encroachments were an added source of inconvenience to customers. The CDA, he said, had also failed to improve

ISLAMABAD - The Supreme Court on Tuesday directed the Railways chairman to submit a comprehensive reply over the non-transparent procedure for the procurement of 75 locomotives and the subsequent tender for another 150 locomotives by the Railways Ministry, causing Rs 40 billion losses to the national exchequer.
A four-member bench of Chief Justice Iftikhar Muhammad Chaudhry, Justice Muhammad Sair Ali, Justice Ghulam Rabbani and Justice Khalilur Rehman, also sought the record of

ISLAMABAD - The Federal Investigation Agency (FIA) informed the Supreme Court on Tuesday that it had detected fake accounts opened by Muhammad Maalik, manager of Moonis Elahi's Al-Tahoor Company.
A four-member bench comprising Chief Justice Iftikhar Muhammad Chaudhry, Justice Muhammad Sair Ali, Justice Ghulam Rabbani and Justice Khalilur Rehman was hearing a suo motu case against alleged corruption of over Rs 5 billion in the National Insurance Company (NICL) affairs. FIA