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Express Tribune
14-06-2025
- Business
- Express Tribune
Non-development spending outpaces development growth
Sindh's non-development expenditures are projected to increase by 12.4 per cent in the fiscal year 2025-26, primarily due to rising salaries, pensions, and other operational costs within the government. In contrast, development expenditures are expected to grow by a more modest 6.1 per cent. The development budget, which stood at Rs959 billion in the current fiscal year, will rise to Rs1,018 billion for the upcoming year. Meanwhile, non-development spending is set to see a more substantial increase — from Rs1,912 billion to Rs2,150 billion. The Sindh government announced a 10 to 12 per cent salary increase for government employees while an eight per cent increase is proposed in pensions in the budget 2025-26. The Sindh Chief Minister, in the budget speech at Sindh Assembly on Friday, announced adhoc relief allowance at the rate of 12% for employees in grades BS-1 to BS-16 and a 10 per cent raise for those in grades BS-17 to BS-22, along with an 8 per cent increase in pensions, in order to equip them to bear the impact of inflation. The government has proposed to continue with the provision of Personal Pay to 163,701 employees between BPS-1 to BPS-6 in the new financial year, he said. The government has also proposed to enhance the monthly rate of Special Conveyance Allowance from Rs4,000 to Rs6,000 to the differently abled employees for providing meaningful support to the underprivileged segment of society. The CM, at the occasion, claimed that the Sindh government has fully cleared all outstanding pension dues of civil servants who retired on or before June 30th 2025 with the financial impact of Rs35 billion during the CFY. This year, the education and transport sectors have received the largest increases in budget allocations. However, funding for housing, social protection, and culture has been reduced compared to the previous year. According to budget documents, the allocation for the housing sector has been cut from Rs42 billion to Rs35 billion. Similarly, funding for social protection has decreased from Rs381 billion to Rs362 billion. Cultural and recreational spending will also decline, dropping from Rs11 billion to Rsnine billion - a reduction of Rstwo billion.
Express Tribune
13-06-2025
- Business
- Express Tribune
Sindh to unveil Rs1t budget for 2025-26
Chief Minister Murad Ali Shah will present the provincial budget worth Rs1,018 billion in the Sindh Assembly today (Friday). The development budget allocation is proposed to rise from Rs493 billion to Rs520 billion, and Rs55 billion may be allocated for district-level development projects. Acting Governor of Sindh Awais Qadir Shah has summoned a session of the Sindh Assembly at 3pm. Prior to the assembly session, the provincial cabinet will meet at 10am to approve the budget for the new fiscal year 2025-26. According to sources, the Sindh budget is expected to include an increase in the tax collection rate. Government employees may receive a 10 per cent salary increase, while pensions are likely to be raised by seven per cent. The new fiscal year is also expected to see the launch of new transportation projects, and the overall development budget has been increased. The budget anticipates Rs366 billion in foreign funding and Rs76 billion from the federal Annual Development Programme (ADP). The non-development budget is projected at Rs two trillion. Out of this, Rs400 billion will be allocated to 3,642 development projects, including Rs331 billion for 3,161 incomplete projects and Rs119 billion for 481 new development schemes. After transferring funds from the current fiscal year, the total annual development programme will reach Rs 1,264 billion. In comparison, the development budget for the current year was Rs 1,165 billion. Full funding will be released for 1,350 projects. Of the 27 projects funded by foreign donors, Rs 366 billion has been allocated, including Rs 44 billion as the Sindh government's share. Additionally, the federal government will provide Rs 76 billion as matching funds for 10 projects. Sector-wise allocations include Rs 102 billion for education, Rs 45 billion for health, Rs 83 billion for irrigation, and Rs 132 billion for local govts. The works and services sector is allocated Rs 143 billion, while the energy sector will receive Rs 36 billion. Additionally, Rs 22 billion has been set aside for agriculture and livestock, Rs 59 billion for transport, Rs 24 billion for public health engineering, and Rs six billion for culture, tourism, sports, and youth affairs. Furthermore, Rs 160 billion is proposed for various departmental development schemes. This includes 1,168 schemes across 10 departments such as home, agriculture, prisons, and energy. Rs 80 billion is suggested for 675 schemes under the Works and Services Department, including jails. The Home Department may receive Rs 11 billion, Health Rs 51 billion, and School Education Rs eight billion. In addition, Rs 9.7 billion is proposed for 60 schemes in Agriculture, Supply, and Prices; Rs 4.9 billion for 38 schemes in Livestock and Fisheries; and Rs 2.8 billion for 44 schemes in Culture, Tourism, Archives, and Antiquities. For Sports and Youth Affairs, 210 schemes may receive Rs 6.5 billion. The Services, General Administration, and Coordination Department may get Rs 39 billion for 77 schemes. Rs 1.8 billion is proposed for Industries and Commerce, while Rs 0.4 billion is set aside for two schemes in the Investment Department. The Energy Department is suggested to receive Rs 12.8 billion for 16 schemes, and Rs 12.7 billion is planned for 28 schemes under the Planning and Development Department.
TimesLIVE
04-06-2025
- Automotive
- TimesLIVE
Xiaomi CEO expects EV business to turn profitable in second half of 2025
China's Xiaomi founder and CEO Lei Jun said on Tuesday he expected the company's car business to turn profitable in the second half of the year, according to a company spokesperson. Xiaomi's loss from its smart electric vehicles, AI and other new projects amounted to 0.5bn yuan (R1,242,018,515) in the quarter ended March 31, with its EV business revenue reaching 18.1bn yuan (R44,955,567,300) over the same period. Xiaomi will start selling its second EV model YU7 in July.
Malay Mail
29-04-2025
- Politics
- Malay Mail
South Korea top court to rule on presidential frontrunner's criminal case
SEOUL, April 29 —South Korea's Supreme Court said it will rule on Thursday in a criminal case that could determine whether the frontrunner for the June 3 snap election, former opposition party leader Lee Jae-myung, can run for president. The top court is deciding on an appeal by prosecutors after a lower court decision to clear Lee of charges of violating election law. He was initially found guilty and he appealed against that verdict. If the Supreme Court upholds that ruling or sends it back to the lower court, Lee would likely be clear to run. If he is handed a final prison sentence or a fine of 1 million won (RM3,018) or more, he would be barred from running for office for at least five years. The case would be handled 'in accordance with the law,' Lee said when asked today about the ruling date as he walked out of a court where he's on trial in another case. The election was called after Yoon Suk Yeol was impeached by the Lee-led parliament and removed as president by the Constitutional Court over an attempt in December to impose martial law. Lee was named the Democratic Party's presidential candidate on Sunday after winning the primary, and has been leading opinion polls for weeks with a double-digit gap over contestants from Yoon's conservative People Power Party. The DP has not put forward an official contingency plan in the case that Lee is barred, and his exit from the race would throw it wide open. The PPP, reeling from Yoon's ouster, will name its candidate on May 3, and local media report that Prime Minister Han Duck-soo, who is serving as acting president, may also throw his hat in the ring. Lee also faces several other trials on matters ranging from bribery to charges mostly linked to a US$1 billion property development scandal, but rulings on those cases are not expected to come before the election. — Reuters
