Latest news with #Rs132
Express Tribune
13 hours ago
- Politics
- Express Tribune
Rs1b development schemes approved for District East: Wahab
Mayor Murtaza Wahab has said that eleven development schemes worth Rs1 billion have been approved in the budget for district east, and work on these projects will commence in coming days. He said a longstanding issue in the area is sewerage and all lines in the area will be repaired at a cost of Rs132 million. Funds of Rs20 million have been allocated for each of Karachi's 246 union councils. "We have allocated funds for every UC without any discrimination, regardless of the political party affiliation, because every UC represents Karachi," he said. The mayor was talking to the media after laying the foundation stone for various development projects in Lines Area, including internal road restoration, drainage, and carpeting of streets. He further stated that this week, Karachi will receive another Rs1 billion development package. "All development work in the area will be completed within this year, including carpeting of 200,000 square feet of internal roads, he mentioned." He urged the public to stop using plastic bags, which are the main cause of destruction in the city's sewerage system. He criticised those who hinder development work and engage in divisive politics.
Express Tribune
6 days ago
- Business
- Express Tribune
Sindh CM shares grievances with centre in post-budget press conference
Listen to article Sindh Chief Minister Murad Ali Shah criticised the federal government for failing to meet its financial commitments to the province, while promising enhanced development and relief measures in the 2025–26 budget. Speaking at a post-budget press conference on Saturday, Shah said the provincial budget totalled Rs3.45 trillion, with a record Rs1.018 trillion allocated for development projects. He warned that these figures could change depending on whether the federal government meets its revenue transfer obligations. He announced that 1,460 development schemes, worth Rs590 billion, will be completed this fiscal year. This marks a record for the province. On public sector salaries, Shah confirmed a 12% increase for employees in grades 1–16 and a 10% raise for those in grades 17–22. Total expenditure on salaries and pensions will reach Rs1.1 trillion. Sector-wise, education has seen an 18% increase in budget allocation, healthcare 11%, local government 5%, and energy 16.5%. The transport department will receive Rs 59.6 billion, while agriculture will get Rs 22.5 billion. Rs132 billion has been earmarked for local bodies and Rs43 billion for irrigation. For Karachi alone, a dedicated budget of Rs236 billion has been allocated — excluding the Rs95 billion public-private partnership projects already underway. The CM made bold claims regarding rehabilitation efforts for flood-affected areas, stating that 500,000 houses have been completed, 850,000 are near completion, and 1.3 million are under construction. He said international institutions, including the World Bank, have recognised the effort as a global model of success. He also cited a massive rural drainage and water supply initiative worth Rs600 billion, which will be locally implemented and NGO-supervised. On taxation, Shah stated that no new taxes have been imposed. In fact, several taxes have been eliminated, including restaurant and entertainment levies. Third-party motorcycle insurance has been exempted, stamp duties reduced, and numerous administrative fees halved. In agriculture, the CM announced free laser levellers for small farmers and an 80% subsidy for large-scale cultivators. He also introduced cluster farming as a new model. The Sindh Institute of Child Health was described as the world's largest such network. Initiatives for persons with disabilities, youth development centres, and new school schemes were also unveiled. Shah openly criticised the federal government for excluding major Sindh projects — such as the K-IV water supply project, desalination plants, and other energy-related infrastructure — from the federal Public Sector Development Programme (PSDP). He warned that the Pakistan Peoples Party (PPP) would not support the federal budget if Sindh does not receive a fair share. 'We are not part of the federal coalition, only offering conditional support. If Sindh is not treated equally, we will withdraw our backing,' he said. Shah defended the procurement of helicopters and official vehicles, adding that a ban on new vehicle purchases would be enforced starting next year. Concluding his address, the CM said the Sindh government is working with clear direction and intent for public welfare — as reflected in the increased public mandate in the last election.
Business Standard
24-05-2025
- Business
- Business Standard
Apollo Micro Systems Limited Announces Results for Q4FY25 and FY2025, APOLLO MICRO SYSTEMS LTD REPORTS HIGHEST EVER REVENUE AND PAT FOR THE FISCAL 2025
VMPL Hyderabad (Telangana) [India], May 24: Apollo Micro Systems Limited (NSE: APOLLO | BSE: 540879), is an electronic, electromechanical and engineering design, manufacturing and supplies company, today announced its standalone and consolidated results for the Fourth Quarter (Q4) and Full Year (FY) ended 31st March 2025. Baddam Karunakar Reddy, Managing Director, Apollo Micro Systems Limited, said: "FY25 has been a landmark year for Apollo Micro Systems Ltd -- marking our strongest performance to date. We achieved a significant milestone with revenue reaching Rs562.07 crore, representing a robust 51.24% year-on-year growth. EBITDA stood at Rs132 crore, reflecting a 54% increase YoY, with a healthy EBITDA margin of 23.50%. Net profit surged by 81.18%, in line with our annual guidance. What we commit, we deliver. These results are a testament not just to numbers, but to the strength of our robust order book, the successful execution of strategic defence programs, and the seamless transition of several high-value products into the production phase. In a business defined by tailored, complex, and mission-critical solutions, sequential (quarter- on-quarter) comparisons often fail to reflect the true picture. Product mix and delivery cycles vary significantly based on client-specific requirements. Accordingly, annual performance remains the most meaningful benchmark for evaluating our financial and operational progress. Our sustained investments in indigenous technologies, coupled with our alignment to national defence priorities such as Atmanirbhar Bharat, continue to strengthen our position as a trusted partner in India's evolving defence ecosystem. We are also pleased to announce a significant strategic milestone -- the acquisition of IDL Explosives Ltd. This marks a new chapter for Apollo Micro Systems as we move closer to becoming a fully integrated Tier-1 defence OEM. The acquisition not only enhances our manufacturing capabilities but also broadens our solutions portfolio across critical areas of India's defence supply chain. It is a proud moment and a feather in our cap that positions us for greater impact and scale. Looking ahead, we expect revenue to grow at a CAGR of 45% to 50% over the next two years -- driven solely by the core business, excluding any contribution from the recent acquisition. This growth is underpinned by a healthy order book and multiple products entering the production phase. Operating margins are projected to improve in the first half of FY26 due to favorable operating leverage and product mix. However, ongoing and planned capital investments are expected to moderate margin expansion in the latter half of FY26 and into FY27. Recent geopolitical developments -- particularly the India-Pakistan conflict -- have further accelerated demand for indigenous defence solutions. Several of our systems were successfully tested and demonstrated during this period, generating significant interest and engagement across the defence value chain. As we move forward, our commitment remains unwavering: to drive innovation, deliver operational excellence, and deepen strategic partnerships. Apollo Micro Systems is not only delivering record-breaking results -- we are helping shape a self-reliant, future-ready defence infrastructure for India." For more Information on Apollo Micro Systems Ltd, Email: Phone: +91 72888 92228 | +91-40-27167000 - 99 & s=08
Express Tribune
24-02-2025
- Business
- Express Tribune
K-P CM Gandapur says province will go to ‘last extent' for its rights
Listen to article Khyber-Pakhtunkhwa (K-P) Chief Minister Ali Amin Gandapur has vowed to take a firm stand for the province's rights, warning that any forceful action against them would have consequences. Speaking at an event, CM Gandapur demanded the federal government pay Rs2 trillion in outstanding hydropower dues, saying K-P would not compromise on its rightful share of resources. The chief minister criticised the delays in the National Finance Commission (NFC) award, arguing that repeated ordinances were being used instead of proper consultation. He urged the federal government to initiate talks on a fair revenue-sharing formula. Gandapur also highlighted the funding shortfall following the merger of the former Federally Administered Tribal Areas (FATA), stating that K-P's population had increased by 5.7 million, but financial support had remained inadequate. 'The federal government was supposed to provide Rs600 billion over six years, but we only received Rs132 billion. Since July, no funds have been allocated,' he said. The K-P CM blamed constitutional disregard for past national crises, warning that lessons had not been learned from Pakistan's history. He said a lack of trust between the government and the people was damaging tax collection and financial stability. He also signalled possible political action after Ramadan, stating, 'I am giving you this time out of respect for Ramadan. After that, we will give you a surprise.' Gandapur's remarks come amid growing tensions between K-P and the federal government, with the province demanding greater financial autonomy and transparency in resource distribution. Last week, in what seemed to be a bragging contest, the provincial governments of Punjab and Khyber Pakhtunkhwa (K-P) touted their "great" performances while belittling each other's work, with the chief minister of the latter challenging the chief minister of the former to a debate. K-P Chief Minister Ali Amin Gandapur announced distributing free laptops among students in the K-P, a move initiated by various PML-N led governments. He said his government would provide the same percentage of students with laptops as the Punjab government. In return, he urged the Punjab chief minister, Maryam Nawaz, to offer free health cards to citizens, just as the K-P government had done. "Our government provided the entire population with the Sehat Card Plus and is now offering life insurance. The Punjab government should also extend these facilities to its entire population," he said. Gandapur claimed that despite challenging circumstances, his government had increased revenue by 55%, urging Punjab to raise its revenue from 12% to 55% as well.
