Business
Jazz overcharges Rs6.58b: AGP | The Express Tribune
ISLAMABAD:
The Auditor General of Pakistan (AGP) has unearthed Rs6.58 billion in alleged overcharging by telecom operator Jazz from its customers and recommended a formal inquiry to determine responsibility. The audit has also urged implementation of Departmental Accounts Committee (DAC) directives and fixation of responsibility on those at fault.
Auditors revealed that the company had pocketed billions from consumers through various mobile packages beyond the tariff rates approved by the Pakistan Telecommunication Authority (PTA). According to Section 4(1)(m) of the Pakistan Telecommunication (Re-Organisation) Act, 1996 (amended up to 2014), the PTA is responsible for regulating competition in the sector and protecting consumer rights. Similarly, Regulation 10(1)(i) of the Telecom Consumer Protection Regulations, 2009, binds operators to ensure that no tariff is charged or advertisement launched without PTA approval, wherever required.
The PTA had approved tariffs for multiple Jazz packages during FY2023-24. However, the audit observed that the operator overcharged its customers beyond the approved rates. A comparative analysis of selected weekly and monthly packages confirmed that Jazz overcharged an amount of Rs6.58 billion during the financial year.
The audit concluded that charging customers above approved rates reflected weak regulatory oversight on the part of PTA. The matter was reported to the management and Principal Accounting Officer (PAO) in November 2024. In response, PTA argued that as a deregulated industry, it monitors competition and prevents predatory pricing by the Significant Market Power (SMP) operator, while leaving other operators to manage the Average Revenue Per User (ARPU). PTA maintained that ARPU in Pakistan is already among the lowest in the world.
The telecom regulator, through letters dated February 12, 2024, and August 12, 2024, granted approvals to Jazz for increasing package prices by up to 15% per quarter and decreasing incentives in any bundle by up to 5%, subject to prior intimation. These blanket permissions covered February-June 2024 and August-December 2024, respectively. Subsequently, Jazz increased its package rates through a letter dated November 12, 2024, under intimation to PTA.
The auditors, however, rejected the explanation as untenable, noting that granting blanket approvals for tariff hikes went against the spirit of the Consumer Protection Regulations. Audit officials retrieved information from various proposals submitted by Jazz to PTA during FY2023-24 and approvals granted by the Authority, which suggested excessive consumer burden beyond permissible limits.
The matter was later discussed in a DAC meeting held on December 26, 2024. The DAC directed PTA to provide a complete record of approved rate increases for various mobile packages to audit authorities for verification. However, PTA had not furnished the requisite record until the finalisation of the report.
The Competition Commission of Pakistan’s website states that the Commission implements the Competition Act 2010, which prohibits “the abuse of dominant position by one or more undertakings.” Section 3(i) specifically addresses “Exploitative abuses” that result in direct loss of consumer welfare, including “charging excessive prices.” However, a CCP spokesperson clarified that the issue did not fall within the Commission’s jurisdiction.
Meanwhile, Jazz strongly rejected the audit’s findings. A company spokesperson stated, “Jazz is a responsible corporate entity and has consistently operated in full compliance with Pakistan’s regulatory framework. All tariffs and services are launched only after formal approvals by PTA, in accordance with clearly defined processes.”
The spokesperson added that Jazz was reviewing the audit report’s observations regarding PTA for Audit Year 2024-25 and expressed confidence that the company had acted lawfully and transparently. “We remain confident that Jazz has acted in full alignment with PTA’s rules and regulatory procedures, including those related to tariff approvals and mandated contributions. We trust the matter will be reviewed in the context of regulatory facts, documented approvals, and institutional roles,” the statement said.
A formal comment from PTA was still awaited at the time this story was filed.
Pakistan Stock Exchange (PSX) on Friday staged a strong comeback, breaking the long bearish momentum as snowballing forex reserves have lifted investor sentiment.
During intraday trading, the PSX’s benchmark KSE-100 index gained a whopping 3,146.23 points to climb to 184,602.56 points, marking a positive change of 1.70%.
Out of 562 active companies, share prices of 375 advanced and of 67 declined while rates of 120 companies remained unchanged.
Economic analysts said the uptick offered some breathing space for the economy, even as the country continued to keep a close watch on external inflows and outflows.
Pakistan’s foreign exchange reserves inched up by $16 million over the past week, according to figures released by the State Bank of Pakistan.
The central bank said its official reserves rose from $16.0557 billion to $16.0718 billion, showing a modest gain during the week.
Overall, the country’s total reserves climbed to $21.2484 billion.
The State Bank also noted that commercial banks’ holdings went up by $5.6 million, reaching $5.1927 billion.
The central bank projects the FY26 current account deficit at 0–1% of GDP and sees reserves at $17.8 billion by June 2026 with planned official inflows.
A day earlier, the stock exchange dropped by over 1,100 points due to massive selling pressure.
The PSX had extended losses after recording an increase for a brief period as investors seemed cautious amid rising geopolitical tensions involving Iran.
During intraday trading, the KSE-100 index touched 183,717.53 due to strong buying in the early sessions before it turned bearish by losing 69.29 points to close at 182,500.52 points.
International officials have warned that US military intervention in Iran now appears likely and could take place within the next 24 hours amid sharply escalating tensions in the Middle East.
American, European and Israeli sources said preparations for possible action were under way as Washington began evacuating personnel from its major air base in Qatar.
NEW DELHI: People with job cards assigned under Mahatma Gandhi National Rural Guarantee Scheme will be able to get work without disruption when transition takes place to new rural employment framework under Viksit Bharat-Guarantee for Rozgar and Aajeevika Mission (Gramin) Act.Even though exact timeframe is not known yet, rural development ministry officials said the VB-G RAM G scheme will come into force in the coming financial year after the Centre frames and notifies the rules. After govt notifies the Act’s commencement date, states will get six months to make their schemes to enable implementation of the law.To ensure there is no disruption and job guarantee is upheld during transition from MGNREGA, it has been proposed to enable workers to use the same job cards issued under MGNREGA with Aadhaar-based eKYC.The officials said that as of now, around 75% of job cards have been verified with eKYC under the ongoing scheme. Moreover, ongoing projects under MGNREGA, if incomplete when the transition happens to the new scheme, would stay on course.Meanwhile, work is on to frame rules, lay out regulations on normative allocations, fund flow plan, IT framework, a national-level steering panel and social audits.Under the new law, focus will be on transparency to weed out leakages and duplicacy of work,the social audit system will be strengthened, and technology leveraged to create systems to establish work progress, timely wage payment and accountability through ‘e-measurement’ books, sources said. Demand for work will have to be entered on a digital platform. Officials made it clear the new law in no way interferes with demand-driven character of the scheme.
Business
Gurugram Attracts Rs 86,588 Crore In Real Estate Investments In 2025 As RERA Clears 131 Projects
Last Updated:
Alongside rising investments, Gurugram RERA strengthened regulatory oversight to safeguard homebuyer and investor interests
Gurgaon Real Estate (Representative Image)
Gurugram emerged as one of India’s top real estate investment destinations in 2025, with projects worth Rs 86,588 crore receiving regulatory approvals during the year, according to data from the Gurugram Real Estate Regulatory Authority (Gurugram RERA).
Market observers said the numbers reflect strong investor confidence in the NCR’s largest commercial and residential hub.
Gurugram RERA registered 131 projects in calendar year 2025, representing development potential of 35,455 units across housing and commercial segments.
A striking feature of the data was the dominance of large-ticket projects. Just 28 major developments accounted for investments worth Rs 59,360 crore, highlighting the growing influence of institutional capital and large developers in shaping Gurugram’s property market.
Residential assets continued to attract the bulk of investment interest. Of the total units approved, 31,455 were residential, underscoring sustained end-user demand and long-term confidence in the city’s housing fundamentals.
According to Authority data, the residential mix included 17,405 group housing units, 5,720 mixed land use units, 4,040 residential floor units, 2,122 affordable group housing units, 1,954 units under the Deen Dayal housing scheme, and 214 residential plotted colony units.
Market observers said this diversified supply pipeline indicates capital deployment across both premium and mass segments, helping reduce concentration risk and deepen market resilience.
On the commercial side, Gurugram RERA approved about 4,000 commercial units, of which 168 were dedicated to IT parks, reinforcing Gurugram’s position as a preferred hub for technology firms and Global Capability Centres.
Analysts noted that the combination of office-led employment growth and residential expansion continues to make Gurugram attractive for long-term capital deployment.
Industry experts said the scale of investments approved in 2025 highlights Gurugram’s ability to attract capital despite global uncertainty, supported by infrastructure growth, a strong corporate base and an improving regulatory environment.
“With a large pipeline of approved projects and sustained interest from developers and institutional investors, Gurugram is expected to remain a key real estate investment destination in the coming years,” a Gurugram-based real estate expert said.
Tighter regulatory checks
Alongside rising investments, Gurugram RERA strengthened regulatory oversight to enhance transparency and safeguard homebuyer and investor interests.
“These steps included stricter scrutiny of developer submissions, mandatory site inspections by domain experts, and public consultation through mandatory notices before project registration,” an Authority official said.
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January 16, 2026, 07:44 IST
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