Tag: Rs

ISLAMABAD - A voluminous report submitted in the Supreme Court by the Punjab government on Rs 9 billion Bank of Punjab (BoP) loan scam has revealed that former Punjab chief minister Pervez Elahi siphoned Rs 5.4 billion of the BoP, whereas Federal Board of Revenue (FBR) Chairman Salman Siddique approved unlawful credit proposals of Rs 1.1 billion in July 2006.
The report, consisting of 15-volumes (5,000 pages), has been prepared by Punjab Additional Inspector General of Police

KARACHI - The City District Government Karachi (CDGK), currently facing such an acute shortage of funds that it cannot even remunerate its staff, has issued notices to the Sui Southern Gas Company (SSGC), Trade Development Authority of Pakistan (TDAP) and Pakistan International Airlines (PIA) as well as several private groups, asking them to clear their dues that run in millions, or face arrest and confiscation of assets. Sources told Pakistan Today that the move is part of the CDGK

KARACHI - Whereas economic managers seem overwhelmed by the current improvement in external accounts, the country's ailing economy is still haunted by the lingering circular debt issue that, the analysts believe, might debilitate favourable impacts of the $99 million current account surplus. The present PPP-led coalition government is breathing hard under immense pressure from the International Monetary Fund (IMF), while surging oil prices in international market requires rulers to

KARACHI - Expressing displeasure over the Population Department secretary's statement that show-cause notices were issued to 13 officers suspected of embezzling Rs 4.587 million from the department funds, the Sindh Assembly's Public Accounts Committee on Tuesday recommended that the provincial government should at least suspend these officers. The financial irregularities were noticed during the audit of Population Department accounts for the year 2007-8.
It was observed that

KARACHI - Despite the government's fixed retail price of fresh milk at Rs 60 per litre in the city, the citizens are still being forced to pay at least Rs 66 for a litre of milk. With the beginning of summer and the hot weather in full swing, the consumption of fresh milk has increased considerably for making yogurt and the traditional milk-derivative cold drink 'lassi'.
While in the absence of any administrative controls over commodity pricing, the retailers have also jacked up

ISLAMABAD - Civil Aviation Authority (CAA) has spent a total amount of Rs. 439,129 million on the protection of its airports in the country during the last three years.
According to official sources in the Defence Ministry, Rs 3,793 million was incurred by CAA on repair and maintenance-fences, Rs 32,630 million on rental and hiring charges security guards, Rs 121,514 million on salaries of vigilance officer and staff and Rs 281,192 million on capital expenditure including

KARACHI - The Pakistan State Oil (PSO) has refused to provide furnace oil to the Karachi Electric Supply Company (KESC) until the power utility pays up the price differential claims of Rs 3.9 billion made by the former.
Moreover, a clear directive from the federal government is also needed to provide the facility of subsidised furnace oil to the KESC, which is demanding oil on the rate of gas, after a reduction in gas supply from the Sui Southern Gas Company (SSGC) to the power

PESHAWAR - During operation cleanup in six divisions of Peshawar circle a total amount of Rs. 26 million have been recovered while 1555 direct hooks have been removed.
Operation cleanup was underway in Peshawar city, Peshawar city rural, Rural Cantt, Peshawar Cantt, Charsadda, Shabqadar Division of Peshawar circle under the supervision of concerned SDOs. The company has also imposed a fine of 100,000 rupees for illegal use of electricity.
During operation cleanup in Peshawar

KARACHI - Five men equipped with weapons robbed a private bank in Jodia Bazaar of Rs 9.85 million with the help of the bank's security guard early Thursday morning, the Kharadar Police said.
According to Kharadar Police Sub-Inspector Ghulam Ishaq, five men entered the Jodia Bazaar branch of the Muslim Commercial Bank at 6:30 am on Thursday with the help of the bank's security guard, Muhammad Anwar, who was deployed there by Mastan Security.
The robbers held the bank staff

FAISALABAD - A gang of 14 dacoits attacked a house in a Chiniot village and took away one kilogram of gold ornaments worth Rs 4.5 million and Rs two million. Reportedly, the group entered the house of Jaffar Ali Kamoka in Chak No 101 Monian Wala in Chiniot and took the whole family hostage at gunpoint. In their bid to find out valuables, they severely tortured the housewife, Feroza Bibi, with rifle butts and tied the male members, Nasir Ali and Zafar Abbas. Then they collected the

ISLAMABAD - The Federal Board of Revenue (FBR) told the Supreme Court on Wednesday that the national exchequer suffered a loss of Rs 7 billion due to evasion of customs duty by ISAF containers at the Chaman crossing along the Pak-Afghan border.
Appearing on notice, FBR Chairman Salman Siddique told a three-member bench of Chief Justice Iftikhar Muhammad Chaudhry, Justice Muhammad Sair Ali and Justice Ghulam Rabbani that a total of 2,981 containers went missing, of which 408

ISLAMABAD - The Pakistan Army has sought an increase of Rs 81.46 billion in the defence budget in fiscal year 2011-12 against current year allocations in the wake of operation against terrorists in Khyber Pakhtunkhwa and the Tribal Areas. As per details of the defence budget provided by the Defence Ministry to parliament, all three forces had recommended proposals of Rs 5.825 trillion, but the ministry had cut the amount by Rs 59 billion in view of severe economic meltdown and sent

KARACHI - Pakistan State Oil(PSO) received one billion from Federal Government in order to provide furnace oil to Karachi Electric Supply Company(KESC) whereas SSGC despite court orders cut short gas supply to KESC hereon Tuesday.
According to a private TV channel report, Federal Government paid one billion rupees to PSO to restart oil supply to KESC whereas cutting short the gas supply upto 200 mmc.ft to KESC by SSGC raises fear of more load shedding in Karachi
KESC

KHANEWAL - DCO Rashid Mehmood has said that Rs 38 million will be spent on 14 different development projects of roads, schools and hostels. While presiding over a meeting of the district development committee held in the committee room of the DCO office, he said 14 development schemes and been reviewed on technical and financial grounds.
He added Rs 38 million would be spent on these projects in the light of the direction of the Punjab chief minister. The meeting was attended by

KARACHI - The government of Sindh has so far released Rs 274 million for People's Primary Healthcare Initiative (PPHI) to improve the infrastructure of the health facilitation centres in the rural areas of the province, but the programme has failed to meet expectations so far.
The Pakistani government has invested about Rs 20 billion in the primary healthcare infrastructure in the last 27 years but very little has been spent on its maintenance.
In this context, the PPHI is a

KARACHI - Many writers of Sindh have demanded that the government should provide financial assistance to top Sindhi

LAHORE - Five students of the Lahore University of Management Sciences (LUMS) have been suspended and fined over the alleged embezzlement of Rs 1 million during the recently organised Young Leaders Entrepreneur Summit (YLES) 2011.
The students, whose names Pakistan Today has chosen to withhold, violated the rules by registering 200 extra students, on the pretext that they were 'breaking even' and needed more money to run the event. Sources revealed the fraud was disclosed two