Tag: Rs

ISLAMABAD - Defence Minister Ahmad Mukhtar on Monday informed the Lower House of parliament that the state-run-airliner owed Rs 139,614 million on account of domestic and foreign loans as of November 30, 2010.
In a written statement, the minister said it was a common practice for airlines globally to acquire aircraft fleet on credit or lease (project financing). In line with this practice, the PIA had also financed its acquisition of Boeing 777 fleet, ATR fleet and Airbus A-310

ISLAMABAD - The Supreme Court was informed on Monday that an accused who embezzled Rs 5 billion in the National Insurance Company Limited (NICL) scam had told investigators that he had given Rs 220 million to Moonis Elahi, son of former Punjab chief minister Pervez Elahi, from the plundered money.
A three-member bench of Chief Justice Iftikhar Muhammad Chaudhry, Justice Muhammad Sair Ali and Justice Khalilur Rehman Ramday was hearing a suo motu case against alleged corruption of

LAHORE - Five armed robbers looted valuables including gold ornaments, cash, laptops and cellular phones worth around Rs 10 millions from a house located in the Township Police Station precincts on Sunday.
According to details, robbers armed with automatic weapons entered businessman Haji Abdul Hammed's house and took his son Rameez and two servants hostage. The robbers locked all family members in a room and escaped after robbing valuables including 100 tolas of gold, Rs 0.7

KARACHI - The State Bank of Pakistan (SBP) continued injecting liquidity into the money market that, analysts believe, is faced with liquidity crunch due to the rupee blockade as non-performing loans (NPL) mount and excessive government borrowing from the scheduled banks takes a toll.
The state bank, in its fifth reverse repo open market operation of the month in the Government of Pakistan Market Treasury Bills and Pakistan Investment Bonds, injected some Rs 8.0 billion into the

ISLAMABAD 0 The Central Development Working Party (CDWP) on Friday approved 68 projects worth Rs 170.4 billion having a foreign exchange component (FEC) of Rs 36 billion, of which 35 projects costing Rs 31.6 billion pertain to Balochistan. The meeting of CDWP was held under the chairmanship of Planning Commission Deputy Chairman Nadeemul Haque. The Balochistan chief minister and chief secretary and cabinet members attended the meeting on special invitation along with other

LAHORE - The Punjab government still has an outstanding loan of Rs 36 billion, out of total Rs 51 billion overdraft from the State Bank of Pakistan (SBP) that was converted in to a loan. Also, the provincial government has decided to cut over Rs 2 billion non-development expenditures by removing over 700 posts at districts and provincial levels.
Punjab Finance Minister Tanvir Ashraf Kaira said this while addressing members of Lahore Economic Journalists Association (LEJA). He was

KARACHI - The Federal Tax Ombudsman (FTO) has helped tax-payers gain Rs 7.0 billion refunds from the Federal Board of Revenue (FBR) in 2010. FTO dealt a total of 1, 94,000 cases where complaints were not filed. Over the last nine years, tax refunds worth Rs 220 million were given through this office, said Federal Tax Ombudsman Dr Shoab Ahmed Saddle during a meeting with members of the Karachi Chamber of Commerce and Industry (KCCI) on Thursday.
He was welcomed by KCCI President

KARACHI - The Sindh Assembly (SA) through unanimously adopting a resolution on Thursday demanded the federal government to immediately release Rs 16 billion to the provincial irrigation department for early plugging of breaches in the embankments of Indus River and canals, and other irrigation projects.
The resolution was moved by Sindh Irrigation Minister Jam Saifullah Dharejo.
He told the house that a meeting of the Indus River Commission had approved Rs 16 billion for 70

ISLAMABAD - The National Assembly's Standing Committee on SAFRON was told on Thursday that the Pakistan Army was "illegally" receiving a sum of Rs 35,000 per container from NATO to clear containers at the Torkham border. Expressing anger, the committee has summoned the FC IG in this connection. The NA body's meeting was chaired by Sajid Hussain. FATA Additional Secretary Habib Ullah told the committee that the regular transportation of NATO containers was badly damaging the road

ISLAMABAD - Federal Board of Revenue (FBR) Chairman Salman Siddique submitted in the SC on Thursday a list of 58 officials who from January 01,2007 to December 24,2010, caused a whopping loss of Rs 19 to Rs 37 billion to the national exchequer over the last four years because of pilferage of containers which entered Pakistani territory in the garb of Afghan Transit Trade (ATT).
The list sent to the registrar's office through FBR's counsel Raja Irshad includes the names of former

ISLAMABAD - The numbers-weak and cash-strapped PPP government on Thursday doled out Rs 330 million in "development funds" to 11 independent MNAs from the Federally Administered Tribal Areas (FATA). Prime Minister Yousaf Raza Gilani approved the provision of Rs 30 million for each MNA representing FATA for "identification of public welfare projects". Talking to a delegation of FATA MNAs and Senators led by Haji Munir Khan Orakzai, Gilani asked the FATA legislators to work out the

ISLAMABAD - Chairman NDFC Employees Welfare Action Committee Imtiaz Ali Khuhro has made an appeal to the Chief Justice of Pakistan Iftikhar Muhammad Chaudhry to take cognizance of 'worst-ever plunder of the national exchequer' to the tune of Rs120 billions in the name of merging NDFC in the national Bank of Pakistan.
Addressing a news conference here at the Supreme Court on Thursday, he said the merging of the NDFC in NBP was meant to facilitate the loan-defaulters in connivance

LAHORE - Punjab Health Parliamentary Secretary Saeed Elahi said on Thursday that health is first priority of the Punjab government and the health budget was increased from Rs 11 to 45 billion. He was responding to questions during question hour of the Punjab Assembly's (PA) 22nd session. House proceedings started with Speaker Rana Iqbal in the chair at 10:25am and the question hour session began. Responding to a volley of questions by members of the provincial assembly (MPAs) across

ISLAMABAD - The Supreme Court on Wednesday served notices on officials of Federal Board of Revenue (FBR), Customs and Customs Intelligence allegedly involved in huge tax evasion by undertaking smuggling in the garb of Afghan Transit Trade through ISAF containers, causing Rs 33 billion loss to the national exchequer.
A three-member bench led by Chief Justice Iftikhar Muhammad Chaudhry was hearing a suo motu case pertaining to 10,000 containers of ISAF which went missing from

Lahore - Under the supervision of District Officer (Revenue) Zulfiqar Ahmad Ghuman city district administration has managed to retrieve land worth more than Rs 300 million.
The land is situated in the vicinity of Madrassa Jamia Naeemia and is expected to be worth about Rs 300 million. A dispute over the land meant a number of individuals had been visiting the site to claim it. The residents of the neighborhood adjacent to the disputed land detecting suspicious movement in the

ISLAMABAD - The Public Accounts Committee (PAC) on Tuesday directed the Finance Ministry to present the record of Rs 30 million spent by the Military Intelligence in Dera Bugti for transformers' installation.
According to the Auditor General of Pakistan's Audit Report 2008-09, the Finance Division gave Water and Power Development Authority's Rs 30 million to the Military Intelligence as a reimbursement of the amount already spent on the installation of transformers and provision

ISLAMABAD - The Supreme Court was informed on Tuesday that Techno Energy, a Sialkot-based firm, had deposited Rs 1,082.5 million in the national exchequer for its failure to import machinery for a 150MW rental power project despite keeping the amount with it for over two years. A three-member bench of Chief Justice Iftikhar Muhammad Chaudhry, Justice Ghulam Rabbani and Justice Khalilur Rehman Ramday, was hearing a suo motu case initiated on an application by PML-Q's Parliamentary