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Nanbais seek price hike amid rising costs – SUCH TV
Naanbais have threatened to increase the prices of roti and naan if flour is not provided at the government’s fixed rates.
According to details, the association has demanded uninterrupted flour supply at official prices. Bakers warned that if their demands are not met, roti will be sold at Rs25 and naan at Rs30.
The association stated that flour prices have surged by 70% over the past two weeks.
If the issue remains unresolved, they plan to launch protests across Pakistan.
Market sources recently reported a sharp rise in wheat prices, with rates in Punjab increasing from Rs2,200 to Rs2,800 per maund, raising concerns of further escalation.
The price of a 20-kg flour bag has already climbed by Rs100. Following this, bakery owners had earlier indicated a possible Rs2 increase in roti prices.
Earlier, flour prices in the twin cities and adjoining areas had seen a sharp rise, with authorities imposing a ban on the sale of 15kg bags.
According to market updates, flour mills have set the price of a 20kg bag at Rs2,400, while the government has directed retailers to sell the same at Rs1,810.
Similarly, a 10kg bag has been priced by mills at Rs1,200, against the official rate of Rs905.
Meanwhile, the price of fine flour has jumped significantly, with an 80kg sack now costing up to Rs10,500 compared to Rs7,000 previously.
HSBC has revealed it stripped out 1.2 billion dollars (£890 million) worth of costs last year after cutting back its senior management team, as it hiked bonuses for staff by 10%.
The global banking giant has been embarking on a sprawling simplification programme that has involved big changes to its structure, in a bid to become more “agile”.
It previously set a target to make 1.5 billion dollars (£1.1 billion) in annual cost reductions by the end of 2026, under the leadership of chief executive Georges Elhedery.
But on Wednesday, the bank revealed that it is expecting to achieve this by the end of June – six months ahead of schedule.
It follows some 1.2 billion dollars (£890 million) worth of cost savings being found during 2025 alone.
Mr Elhedery, who stepped into the top job in 2024, said that a large amount of the savings had come from the “deduplication” of jobs within the group, particularly among more senior positions.
He said this resulted in a net 15% reduction of managing director positions, which has not had any impact on the group’s revenues.
Meanwhile, HSBC revealed that it handed out bonuses worth 3.9 billion dollars (£2.9 billion) to its eligible staff during the year – a 10% increase compared with 2024.
The bank said it ensured its “highest performers had the strongest variable pay outcomes compared to the prior year”.
Mr Elhedery took home a pay packet of £6.6 million in 2025, made up of his salary and benefits, plus an annual bonus and long-term incentive award of about £4.8 million.
HSBC’s pay committee said it intends to grant the chief executive the maximum long-term incentive award worth 600% of his salary, which amounts to £9 million, for 2026-28.
The value will be subject to the bank’s performance over the next three years, and delivered in instalments.
HSBC said it was striving to create a “high-performance culture” where staff are better rewarded for work that boosts the performance of the bank.
Nevertheless, it reported lower earnings for 2025, with its pre-tax profit down about 7% year-on-year to 29.9 billion dollars (£22.1 billion).
This took into account the impact of losses related to its stake in the Chinese Bank of Communications, and restructuring costs from its simplification programme.
Shares in HSBC were up by about 6% in early trading on Wednesday.
Changes announced in the Budget mean all energy bills will see some kind of reduction, but it will vary.
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The Indian government has proposed the Income-tax Rules 2026, making PAN cards mandatory for select high-value transactions. Replacing the 1962 rules, these changes aim to simplify and bring transparency to the tax system. After considering suggestions, the rules are expected to be finalized and implemented by April 1, 2026.
Here’s a detailed look about how PAN cards are used in various financial transactions.
Immovable Property Transactions: PAN will be required for property transactions exceeding Rs 20 lakh, which is up from Rs 10 lakh. It will include purchase, sale, gift, or joint development agreements.
Motor Vehicles Purchase: PAN is now required for motor vehicle purchases exceeding Rs 5 lakh, including two-wheelers that have been exempted so far. Additionally, those who buy premium bikes or expensive cars will need to quote PAN. Meanwhile, tractors are still excluded.
Cash Deposits And Withdrawals: PAN will be required for aggregate cash deposits or withdrawals exceeding Rs 10 lakh in a financial year. As per the existing rules, it is required for cash deposits of more than Rs 50,000 in a day at a bank or post office.
Hotel And Restaurant Payments: It will be required for cash payments exceeding Rs 1 lakh, which is up from Rs 50,000.
Insurances: PAN will be required to initiate account-based relationship with insurance companies, irrespective of the premium account.
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