Business
PR launches property recovery worth Rs65b | The Express Tribune
KARACHI:
Federal Minister for Railways Muhammad Hanif Abbasi on Thursday unveiled reforms, recovery measures, and development projects aimed at modernising Pakistan Railways and making it more efficient, transparent, and business-friendly.
During a visit to the Karachi Chamber of Commerce and Industry (KCCI), Abbasi said that railway lands worth Rs15 billion had been recovered, while properties worth another Rs50 billion would be retrieved this year. He clarified that railway property is non-saleable, though revenue-sharing partnerships are being pursued for better use.
Highlighting Karachi’s role, Abbasi remarked, “Without Karachi, Pakistan’s economy collapses, and without Karachi Division, Railways ceases to exist.” He said the Thar coal transport project was progressing nationwide, while groundbreaking for the 480km KarachiRohri line is expected by June 2026.
On modernisation, the minister said 155 stations are being shifted to solar power, including 27 in Karachi. So far, 60 stations have been solarised. Wi-Fi is being installed at 40 stations, and ATM and Wi-Fi services will be expanded to all major stations. A new CIP lounge at Karachi Station will open on September 22, while railway saloons have been made available to the public at affordable rates.
Abbasi said Pakistan Railways had initiated digitisation and reduced losses. Regularisation of meters saved Rs4 billion, while ticket theft earlier cost Rs1 billion annually. He warned that ticketless travellers and facilitators would face imprisonment, stressing that “even ministers or Railways chairman will have to buy tickets.”
The minister announced that 11 passenger trains had already been outsourced, with nine more to follow within six days. By December, 38 trains will be outsourced. Freight trains are also being outsourced to meet rising demand. Two trains have been handed to NLC, which is seeking 10 more. Eight railway hospitals and 14 schools are also being outsourced, though employees will continue to receive free medical care.
Abbasi admitted that trains were facing delays due to floods, while fares could not be reduced immediately. He said bogies and engines received eight years ago were of such poor quality that they had worn out despite a 30-year life expectancy. An inquiry has been ordered.
Business
Indias Forex Reserves Rise $3.5 Billion To $694.2 Billion In Latest Week, Supported By Foreign Currency Assets, Gold
New Delhi: India’s foreign exchange reserves rose by USD 3.5 billion in the week that ended August 29 to USD 694.230 billion, driven largely by a rise in foreign currency assets and gold, the Reserve Bank of India (RBI) said in its latest ‘Weekly Statistical Supplement’.
The country’s forex kitty is hovering close to its all-time high of USD 704.89 billion touched in September 2024. For the reported week, India’s foreign currency assets (FCA), the largest component of foreign exchange reserves, stood at USD 583.937 billion, a rise of USD 1.7 billion.
The RBI data showed that the gold reserves currently amount to USD 86.769 billion, witnessing a rise of USD 1.8 billion. After the latest monetary policy review meeting, RBI Governor Sanjay Malhotra said the foreign exchange kitty was sufficient to meet 11 months of the country’s imports.
In 2023, India added around USD 58 billion to its foreign exchange reserves, contrasting with a cumulative decline of USD 71 billion in 2022. In 2024, the reserves rose by a little over USD 20 billion. So far in 2025, the forex kitty has cumulatively increased by about USD 53 billion, according to data.
Foreign exchange reserves, or FX reserves, are assets held by a nation’s central bank or monetary authority, primarily in reserve currencies such as the US Dollar, with smaller portions in the Euro, Japanese Yen, and Pound Sterling.
The RBI often intervenes by managing liquidity, including selling dollars, to prevent steep depreciation of the rupee. The RBI strategically buys dollars when the Rupee is strong and sells when it weakens.
Tata Motors Vehicles Price In India: Tata Motors on Sunday announced that it will pass on the entire benefit of the recent GST rate cut to its commercial vehicle customers. The new prices will be effective from September 22, the day the revised GST rates come into force.
“Tata Motors will pass on the full benefit of the recent GST reduction on its entire commercial vehicle range to customers, effective September 22, the date the revised GST rates come into effect,” the company said in a statement.
The price cuts will vary across different vehicle categories. Heavy commercial vehicles (HCVs) will see a reduction ranging between Rs 2.8 lakh and Rs 4.65 lakh. Intermediate, light, and medium commercial vehicles (ILMCVs) will become cheaper by Rs 1 lakh to Rs 3 lakh.
Buses and vans will see reductions between Rs 1.2 lakh and Rs 4.35 lakh. Small commercial passenger vehicles (SCVs) will get price cuts between Rs 52,000 and Rs 66,000, while SCVs and pickups will become cheaper by Rs 30,000 to Rs 1.1 lakh. The company said the GST on commercial vehicles has been reduced to 18 per cent, a move that it believes will help revive India’s transport and logistics sector.
Girish Wagh, Executive Director of Tata Motors, said the decision reflects the government’s commitment to strengthening the country’s economic backbone. He added that Tata Motors is proud to extend the full GST benefit to customers, ensuring lower costs and better access to modern vehicles.
Tata Motors highlighted that commercial vehicles play a crucial role in India’s growth by driving logistics, trade, and connectivity. With the GST reduction, the company expects the total cost of ownership for transporters, fleet operators, and small businesses to come down.
This will encourage faster fleet modernisation and wider adoption of advanced, cleaner mobility solutions, helping operators cut costs, improve efficiency, and boost profits. The company has also encouraged customers to book vehicles early to take advantage of the reduced prices during the upcoming festive season.
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Indias Forex Reserves Rise $3.5 Billion To $694.2 Billion In Latest Week, Supported By Foreign Currency Assets, Gold
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