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PM Shehbaz cuts petrol price by Rs12, diesel by Rs135 per litre – SUCH TV
Prime Minister Shehbaz Sharif on Friday announced a cut of Rs12 in petrol price and Rs135 in diesel rate, citing reduction in global oil prices.
In a televised address, the prime minister said the new price of petrol has been set at Rs366 per litre and diesel at Rs385 per litre, effective April 11.
His address comes as Pakistan gears up to host high-stakes peace talks between the United States and Iran in Islamabad.
On Jim Continenza’s first day on the job as Eastman Kodak executive chairman in 2019, he got a call from a star Hollywood filmmaker telling him the company was making a big mistake.
The photography technology company was in the process of shutting down its acetate factory, which makes one of the key ingredients used in film. Christopher Nolan, the director behind major movies like “Inception” and “Oppenheimer,” urged Continenza to stop the process.
“He goes, ‘Do not turn this off. Please take a look.’ And I did,” Continenza, now CEO, told CNBC. “He was right. I started looking at it because I shoot 35 millimeter [film], and I’m like, ‘Why would one of the greatest directors of all time even have this conversation?'”
Continenza, a self-proclaimed “turnaround specialist,” said he quickly realized how central film was to Kodak’s roots, and how it could be one of its biggest strengths as he fought to bring the company back from teetering on the edge of bankruptcy.
Fast forward roughly seven years, and multiple 2026 Oscar-winning movies, including “One Battle After Another” and “Sinners,” were shot on Kodak film. It’s part of a bigger trend as the category sees a resurgence fueled by both a nostalgia for film in Hollywood and by younger consumers.
That road wasn’t smooth, though. The company declared bankruptcy in 2012 and reemerged a year later. Then it cautioned last year that its financial conditions “raise substantial doubt about Kodak’s ability to continue as a going concern.”
In the second-quarter earnings where it made that going concern statement, Kodak posted a 12% decrease in gross profit, with millions in debt obligations.
But Continenza said it was one step in a longer process toward rebuilding the company to its former success.
CEO of Kodak Jim Continenza speaks onstage during Kodak’s Film Awards at ASC Clubhouse on March 2, 2026 in Los Angeles, California.
Rodin Eckenroth | Getty Images
Last month, the company’s earnings report looked different. Its fourth-quarter gross profit reached $67 million, a 31% increase from the year prior. Kodak also said it had reduced its annual interest expense by roughly $40 million.
Continenza said at the time that the results were signs of the long-term plan he began executing in 2019. He told CNBC that he chose Kodak as his final company to revive before closing his chapter as a C-suite executive, having previously served in leadership roles at communication companies including AT&T and Lucent.
“Here’s what our goal is: We’re going to create jobs for the next generation. Make no mistake, we’re going to fix this company and put it on a stable foundation and put building blocks to grow all the systems,” Continenza said. “We didn’t put in what we need, we put in what we want, and that’s a difference.”
Troubled waters
In a digitally evolving society, Kodak has been fighting to keep its place and relevancy.
The company’s 2012 bankruptcy protection came after it failed to improve its finances as digital photography took off and revolutionized the industry. When it reemerged the following year as a smaller company, it shifted its primary focus to commercial printing.
Though it’s not a company that is largely covered by investors anymore, Melius Research analyst Ben Reitzes wrote in a note last year that the onset of digital technology posed a significant setback for Kodak.
“At the time, Kodak management told us that film would co-exist with digital cameras and more photos would be taken — and more would need to be printed by Kodak,” he wrote.
Still, Kodak faced its struggles. Its stock sank more than 35% in 2014, continuing to gradually fall over the next few years and hitting an all-time low of $1.55 per share during the onset of the pandemic in March 2020.
Last August, the more than 100-year-old photography company said it had roughly $155 million in cash and nearly $600 million in loans.
A Kodak spokesperson said at the time that the going concern language had to be included because Kodak did not have enough available liquidity to pay off its debt, due within 12 months. Still, the company said it was confident it would pay off a significant portion of that loan before it became due by terminating its pension plan and said the disclosure was just a required technical report.
Wall Street investors didn’t like what they heard. The stock plunged from a price of roughly $7 per share a few days prior to just over $5 per share on the day of earnings.
“We could have done a better job on it, because to us, it wasn’t as dire straits, it was more of a GAAP accounting coincidence by dates,” Continenza said, adding that it was a “timing issue” for the loans.
Rolls of Kodak Gold film hang on a shelf at the Precision Camera & Video store on Aug. 12, 2025 in Austin, Texas.
Brandon Bell | Getty Images
Continenza said Kodak’s main challenges were in its “huge tranches” of debt and a lack of communication with its shareholders and customers.
The CEO said he’s never sold a share of Kodak and instead bought stock after the company issued its going concern disclosure.
“You’ve got to put the work in and the long-term investments, and you’ve got to be methodical, but you’ve got to fix your operations, and I’ve spent seven years of doing it,” he said. “[It’s] a 130-plus year old company, right? You can imagine what’s in the attic.”
Defining success
Continenza said he’s been intentional about instituting long-term changes since he took over the company. He’s changed about 90% of the company’s leadership, paid off more than $400 million in debt and reorganized the company’s priorities to focus on print and advanced materials and chemicals.
He said it was also important to be “transparent” with his team and acknowledged that turning around the company would mean layoffs and staffing changes.
“First thing I always do is go out and get people who want to hold the company and buy them out, and that’s what we did,” he said. “I got a board and investors who love what we’re doing — we keep them informed, and they help guide us.”
As he examined what worked for the company, Continenza said he saw an opportunity with Generation Z and the resurgence of the film aesthetic. The look of photos and videos shot on film captures something that “penetrates your heart and soul,” he said.
Kodak leaned into the analog and authenticity trend, investing its resources in its film capacities and creating products that consumers, directors and filmmakers alike were interested in.
Continenza said he also refinanced the company three times and rightsized its balance sheet.
It seems to have hit the right note on Wall Street. Over the past year, Kodak’s stock has shot up nearly 100%.
Kodak 1-year chart
“We’re doing our job. The stock’s not supposed to spike, it’s supposed to crawl, because that’s how we grow,” he said. “I don’t look at our stock price. I don’t care. I couldn’t tell you what it is today. I’m a long-term investor.”
Continenza said success to him will mean continuing to improve finances and ensuring Kodak has a solid succession plan in place to continue its growth.
Though the company is well over 100 years old, he said he likes to treat Kodak as a startup, where all of the debt is paid off, the brand is well-loved and only Kodak itself could, at this point, “screw it up.”
“We don’t need to be a $5 billion or $20 billion or $80 billion company,” Continenza said. “We’re a billion-dollar global company, but one thing we have going for us is our brand recognition. And make no mistake, around the globe, it is endeared and loved, and it’ll continue to be.”
Business
From queues to QR codes: How UPI transformed India’s digital payments, now driving 49% of global real-time transactions – The Times of India
India’s financial ecosystem has undergone a major transformation in recent years, with the Unified Payments Interface (UPI) emerging as the centrepiece of the country’s digital payments revolution. Just ten years ago, financial transactions in the country were slow and largely cash-dependent but now, they are just a touch or click away, enabling instant, seamless and real-time payments across the country. The shift began with early digital infrastructure such as Real-Time Gross Settlement (RTGS) in 2004 and Immediate Payment Service (IMPS) in 2010, which enabled faster transfers but remained limited in reach. A broader transformation followed with the development of foundational systems under the JAM Trinity: Pradhan Mantri Jan-Dhan Yojana, Aadhaar and mobile connectivity, which expanded financial access and digital readiness.
UPI: India’s core digital payments achievement
Launched in 2016 by the National Payments Corporation of India, UPI has become the most significant milestone in India’s digital payments journey. It simplified transactions by linking bank accounts through a Virtual Payment Address, removing the need for account numbers and IFSC codes. Users can send or receive money instantly using only a mobile number, UPI ID and secure authentication. The system operates 24/7, processes payments in real time and works seamlessly across banks and platforms due to full interoperability. The scale of UPI has expanded rapidly. The network has grown from 216 banks in 2021 to 691 banks by January 2026, creating a unified national payments infrastructure. UPI has become the world’s largest real-time payments system by volume, processing:
- 21.70 billion transactions in January 2026 alone
- Rs 28.33 lakh crore in transaction value in January 2026
- 81% share of all retail digital transactions in India
- 49% share of global real-time payment transactions
It has achieved this scale in under 10 years, making it one of the fastest-growing financial infrastructures globally. The International Monetary Fund (IMF) has recognised UPI as the world’s largest real-time payment system by volume.Beyond scale, UPI has significantly expanded financial inclusion by reducing dependence on cash and enabling instant, low-cost transactions. It has brought millions into the digital economy, particularly small merchants, informal workers and rural users. The ecosystem has also expanded with features such as UPI Lite for small payments, UPI AutoPay for recurring transactions and Credit on UPI for access to pre-approved credit lines. Financial institutions and fintech companies have further built lending and repayment solutions on this infrastructure. Security and system strengthening UPI is supported by strong security architecture, allowing transactions without sharing sensitive banking details and providing built-in grievance redress mechanisms. Further strengthening the system, the Reserve Bank of India (RBI) has mandated two-factor authentication for digital payments from April 1, 2026. This requires multiple verification layers such as PINs, biometrics or secure tokens along with OTPs, significantly reducing fraud risks and improving trust in digital transactions. Global recognition and expansion India’s UPI model has gained international recognition from institutions such as the International Monetary Fund and the World Bank for its scale and inclusiveness. Global leaders, including French President Emmanuel Macron, have acknowledged India’s ability to process over 20 billion transactions per month through UPI, a level unmatched globally. UPI has also expanded internationally and is now operational or interoperable in countries including the United Arab Emirates, Singapore, Bhutan, Nepal, Sri Lanka, France, Mauritius and Qatar, enabling cross-border payments and supporting global remittance flows.UPI stands as India’s most significant digital financial achievement, a system that has transformed payments at scale, expanded financial inclusion and positioned India as a global leader in real-time digital transactions. Built in under a decade, it has reshaped how the country pays, saves and participates in the formal economy, emerging as a global benchmark for inclusive financial innovation.
Business
100% road tax waiver for electric cars, new rules for 2, 3 and 4 wheelers – what Delhi govt’s draft EV policy says – The Times of India
The Delhi government has unveiled the draft Electric Vehicle (EV) Policy 2026–2030, outlining a roadmap to curb air pollution and promote clean mobility in the national capital. With vehicular emissions contributing nearly 23% of the city’s pollution, the policy focuses on accelerating the shift to electric vehicles while strengthening the ecosystem needed to support their widespread adoption.The new draft builds on the earlier EV policy introduced in August 2020, which had a three-year term ending in August 2023 and has since been extended. Officials say the updated framework seeks to expand on previous efforts to curb vehicular pollution and accelerate the transition to cleaner transport. The draft offers incentives like a 100% road tax waiver for electric cars, along with benefits and updated rules for two-, three-, and four-wheelers. It also aims to expand charging infrastructure, build a stronger EV ecosystem, and encourage a gradual move away from petrol and diesel vehicles. Focused on cutting emissions, which make up about 23% of Delhi’s pollution, the policy is linked to the Right to Clean Air under Article 21, highlighting a stronger push to improve air quality in the capital.
Here’s what Delhi government’s new EV draft policy has proposed:
- Full tax exemption for affordable EV carsElectric cars priced up to Rs 30 lakh will get 100% exemption on road tax and registration fees till March 31, 2030. The policy states, “Electric cars with ex-showroom price above (Rs) 30 lakh registered in Delhi shall not be granted any exemption from road tax and registration fees.” However, vehicles priced above this threshold will not be eligible for such benefits. The draft also proposes a 50% exemption for strong hybrid vehicles.
- What’s new for 2 wheelers?
The government has also listed out intensives for two wheelers. To be eligible for incentives, the ex-factory price of an electric two-wheeler must not exceed Rs 2.25 lakh.
In the first year from the date of notification, buyers will receive Rs 10,000 per kWh, capped at Rs 30,000. This incentive reduces to Rs 6,600 per kWh (up to Rs 20,000) in the second year, and further to Rs 3,300 per kWh (up to Rs 10,000) in the third year. - Push for electric three-wheelers
From January 1, 2027, only electric three-wheelers will be allowed for new registrations in Delhi. Furthermore, the Government of National Capital Territory of Delhi (GNCTD) is also set to provide the following incentives to encourage the adoption of electric-rickshaws in the national capital:
- Slow transition to electric vehicles
The draft has proposed phased electrification of school bus fleets. This applies to all school buses, owned, leased, or hired.
10% electric within 2 years
20% within 3 years
30% by March 31, 2030Furthermore, it also mandates electrification of government fleets. All hired or leased vehicles under the Delhi government will be only electric from the date of notification, except exempted categories. New buses inducted by the
Transport Department and DTC will also be electric, with provisions for cleaner alternatives like hydrogen if introduced.Additionally, all new N1 category trucks procured by government bodies and civic agencies will be only electric. Here’s the incentive structure, based on the year of registration:
Year of Registration Incentive Year 1 (from date of notification) Rs 1,00,000 Year 2 (from date of notification) Rs 75,000 Year 3 (from date of notification) Rs 50,000 - Restrictions on conventional fleet operators
Fleet aggregators and delivery service providers will not be allowed to induct new petrol or diesel vehicles after notified timelines, with limited exceptions for certain categories till December 2026. - Expansion of EV charging and swapping infrastructure
Land-owning agencies will identify sites for public charging and battery swapping stations All new buildings and infrastructure projects must be EV charging-ready DelhiTransco Limited will handle planning, deployment, and reliability of charging networks - Battery waste management and recycling push
Strict compliance with Battery Waste Management Rules and Extended Producer Responsibility (EPR) Establishment of battery collection centres across Delhi through partnerships. - Creation of a dedicated EV Fund
A separate EV Fund will be set up under the Transport Department to finance implementation, supported by budget allocations, grants, cess, and other sources. Furthermore, a committee led by the Transport Minister will oversee implementation of the policy and management of the EV Fund. Transport Department to act as nodal agency Environment Department to track emission reductionsUrban bodies to support infrastructure rollout Education Department to ensure compliance and run awareness campaigns. - Fully digital implementation system
All processes including approvals, applications, disbursements, and grievance redressal will be conducted in a paperless digital format. - Public feedback
The government has also invited public feedback for the proposed reforms. In an official circular, the government said, “The draft Delhi Electric Vehicle (EV) Policy 2026 is hereby uploaded on the official website of Transport Department, GNCTD for the information of general public. All stakeholders including general public are invited to submit their feedback/comments within 30 days from the date of publication through the following modes: 1. By e-mail: evpolicy2026@gmail.com 2. By Post: Joint Commissioner (EV), Transport Department, Govt. of NCT of Delhi, 5/9 Underhill Road, Delhi- 110054.”
It further clarified, “All inputs/representations may kindly be submitted only through the above- mentioned modes. In this regard, the public is humbly requested to avoid visiting the office premises, as the same may cause unnecessary crowding. No objections or suggestions received after the expiry of the said period shall be considered.”Earlier this year, on March 20, CM Rekha Gupta flagged off 300 new electric buses and announced the launch of interstate bus services connecting Delhi with Ghaziabad. A foundation stone was also laid for a new Delhi Transport Corporation office near the IP depot.Meanwhile, health minister Pankaj Kumar Singh had noted the pace of adoption, stating, “After our government came to power, we registered more than 1 lakh EV vehicles. There are many reasons why EVs are not advancing further. The previous government did not provide subsidies for EVs. We are providing those subsidies, but if the previous government had given subsidies, perhaps the people of Delhi would have made more efforts to adopt EVs.“
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