Tag: Fine

  • State Bank of Pakistan fines major banks for violating regulations

    State Bank of Pakistan fines major banks for violating regulations

    Banks operating in Pakistan have been slapped with hefty fines from the State Bank of Pakistan (SBP) totaling Rs131.4 million as a result of enforcement action against infractions of its established policies.

    According to the specifics, SBP fined JS Bank Limited Rs85.148 million, the highest sanction of the three banks, for breaking regulator guidelines regarding CDD/KYC, Asset Quality, FX, and General Banking Operations. Additionally, the central bank has recommended JS Bank Limited to improve its processes and controls in the areas that have been highlighted.

    In addition, Habib Bank Limited was fined Rs29.035 million for disobeying regulatory directives regarding CDD/KYC. The bank has been urged to tighten its controls and procedures in the highlighted areas in addition to the punitive action.

    Last but not least, the Bank of Punjab was additionally penalised Rs17.243 million for breaking regulatory guidelines relating to Asset Quality & CDD/KYC. Along with taking legal action, the bank has been urged to tighten its procedures and controls in the highlighted areas.

    The SBP has previously imposed fines totaling more than Rs100 million on four banks for regulatory violations.

    Read more: Rupee gains ground against dollar for second day, closes at Rs238

    Earlier, due to a breach of asset quality regulations, the National Bank of Pakistan (NBP) was fined Rs19.26 million. Additionally, U Microfinance Bank Limited which is owned by Ufone was fined Rs10.26 million and given the go-ahead to launch an internal investigation into any violations of regulatory directives as well as to discipline any indiscreet employees.

    According to SBP, these actions are based on shortcomings in the observance of regulatory directives and do not reflect poorly on the businesses’ financial soundness.

  • ITP special squads to take action against tinted windows

    ITP special squads to take action against tinted windows

    Special squads have been formed by the Islamabad Traffic Police (ITP) to deal with motorists in the capital city that have tinted windows or black papers.

    Senior Superintendent of Police (SSP) Traffic, Dr Syed Mustafa Tanveer, stated that the officers’ and Jawans’ efforts had drastically reduced the incidence of fatal accidents. He stated that more similar measures are needed to safeguard the safety of citizens’ lives and to make Islamabad an accident-free city.

    Despite repeated warnings from the ITP, numerous vehicles with tinted windows can be spotted on key roads and highways in the federal capital.

    SSP Tanveer also stated that the ITP intends to implement a zero-tolerance policy in the future since it is a moral responsibility to raise awareness about road safety while enforcing regulations. Similarly, the behaviour of persons on the road reflects societal norms, he continued.

    He was of the view that ITP personnel have had extensive training and have been instructed to treat civilians with compassion, sincerity, and humility. He believed that breaking traffic regulations causes accidents. In an appeal to citizens.

    SSP Traffic stated that the involvement of citizens in ensuring smooth traffic is also very crucial. Obeying road rules can save your life as well as the lives of others; thus, never disobey traffic laws and be responsible and patriotic citizens.

  • ‘Speed allowed should be more’: Afridi responds to fine for overspeeding by motorway police

    ‘Speed allowed should be more’: Afridi responds to fine for overspeeding by motorway police

    Former Pakistan captain Shahid Afridi continues to stay in the headlines even after retirement.

    Lala was fined by the Motorway Police for exceeding the speed limit. According to details, while travelling from Lahore to Karachi, Afridi was fined Rs 1,500 for violating the speed limit on the Motorway.

    Afridi gladly paid the fine and thanked the highway police for treating all citizens equally. Lala also took selfies with Motorway Police personnel.

    Lala made a suggestion to the Motorway authorities and tweeted, “My humble suggestion is we have very good highways, the speed allowed should be more than 120kph!”

  • Islamabad Traffic Police intensifies crackdown against wrong parking

    The Islamabad Traffic Police (ITP) recently fined numerous motorists for wrong parking in order to maintain a smooth flow of traffic in the federal capital.

    The SSP Traffic Syed Mustafa Tanveer instructed all Zonal DSPs to guarantee traffic law enforcement through a courteous attitude toward citizens. He advised that motorists should be treated equally and informed officials about traffic laws.

    Furthermore, the SSP Traffic asserted that only pedestrians had the right to use the footpath and that no parking would be permitted there. He was of the view that vehicles should be parked in designated areas of shopping malls while an awareness campaign to educate citizens visiting the malls was underway.

    The number of vehicles in the federal capital has increased drastically in recent years, impeding transportation.

    Tanveer stated that it is our prime concern to guarantee the comfort of road users by preserving traffic discipline, and that every effort will be made to that end.

  • NAB reports Rs864 billion recovery since inception

    NAB reports Rs864 billion recovery since inception

    Since its formation, the National Accountability Bureau (NAB) has recovered Rs864 billion from corrupt elements, directly and indirectly.

    The anti-graft watchdog, NAB has collected Rs584 billion during the tenure of incumbent Chairman Justice Javed Iqbal.

    Due to the NAB’s aggressive prosecution, the Accountability Courts penalized 1,405 accused persons and imposed substantial fines on them, as per a NAB spokesman.

    In the Accountability Courts, NAB has a 66 per cent overall conviction rate. NAB received a total of 405,768 complaints since its formation. A total of 405,212 complaints were handled. The inquiry of 556 complaints is still ongoing.

    100,865 complaints have been acknowledged by the NAB. There were around 100,425 complaints investigated. While 779 complaints were still being investigated. 9883 queries have been approved by NAB.

    8,953 queries were followed through to completion. A total of 930 inquiries were investigated.

    NAB allowed 4,547 investigations since its establishment. A total of 42,100 investigations have been completed. While working on 346, the probe is still ongoing. Since its founding, the NAB has filed 3,645 referrals in accountability courts. 2,398 references were disposed of in accordance with the law. Currently, 1,237 referrals worth Rs1,335 billion are being tried in various accountability courts.

  • Lahore Traffic Police raises minimum fine amount for four-wheelers to Rs5,000

    Lahore Traffic Police raises minimum fine amount for four-wheelers to Rs5,000

    In an attempt to combat traffic rule infractions in Lahore, Punjab police have ordered a significant hike in fines. The department announced on social media that instead of a few hundred rupees, violators will now be slapped with at least Rs5,000 fine for four-wheelers and Rs2,000 for two-wheelers.

    Muntazir Mehdi, the Chief Traffic Officer (CTO) of Lahore, shared his recommendations with the Deputy Inspector General (DIG) Traffic Police. The department also released information on the provincial capital’s increased fine rates.

    As per a recent tweet, Improper parking of motorbikes would incur a penalty of Rs2,000 and improper parking of vehicles will incur a fine of Rs5,000. Moreover, riding a motorcycle without a license will cost the violator Rs2,000, while driving a car will now cost Rs5,000 without a license.

    Motorcycles without number plates or with fancy number plates will be fined Rs2,000, while car drivers would be fined Rs5,000.

    Punjab’s Chief Minister (CM) Hamza Shehbaz Sharif in the last week ordered the creation of an emergency traffic plan to alleviate traffic congestion on important roads in Lahore. He directed the Inspector General (IG) to provide a comprehensive plan, including the promotion and relocation of traffic wardens, as well as its proper implementation.

  • Islamabad Traffic Police issues more than 28,000 challans to careless drivers

    During the last three months, the Islamabad Traffic Police (ITP) handed 28,224 fine tickets to motorists who were negligent on the roads.

    As per Senior Superintendent of Police (SSP) Traffic, Rai Mazhar Iqbal, special squads have been formed on the directives of Inspector General of Police (IGP) Islamabad, Muhammad Ahsan Younas to deal with reckless drivers who endanger the lives of road users.

    He also instructed the officials that road users should be treated with respect.

    SSP Iqbal stated that all city personnel have been urged to take stern action against such offenders and to assure that the city’s roads are secure.

    Furthermore, he revealed that the ITP education wing has been directed to ensure renewed efforts in a bid to raise public awareness regarding traffic rules.

    Several students have joined ITP as traffic volunteers, therefore he directed ITP’s teams to visit educational institutions to build traffic sense among more students.

    According to the SSP Traffic, the goal of conducting action against irresponsible drivers is to safeguard their personal safety as well as the safety of others.

  • Islamabad Traffic Police creates special squads to curb road stunts, one-wheeling

    Islamabad Traffic Police (ITP) has constituted special squads to prevent one-wheeling and road stunts in the federal capital.

    The special squads were created on the orders of Inspector General of Police (IGP) Islamabad, Muhammad Ahsan Younis to control one-wheeling, car racing, and rash driving, which endangers not only the offenders’ lives but also many other motorists.

    Various ITP units and special squads would conduct continuous patrolling operations at different spots of the metropolis, particularly on 7th Avenue, 9th Avenue, Margalla Road, Kashmir Highway, Islamabad Expressway, and Murree Road, and take action against motorists who engage in dangerous road stunts.

    The police officers and squads in these regions would maintain intensified watch, prohibiting young folks from being involved in dangerous actions.

    SSP Traffic, Rai Mazhar Iqbal stated that one-wheelers and rash drivers would face severe punishment. He urged parents to keep a close eye on their children and not allow them to play stunts on the roadways, endangering their lives.

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    One-wheeler’s bikes will be seized, according to the SSP Traffic, while heavy fine tickets will also be issued to them.

  • Court fines tailor for bad stitching, late delivery in Lahore

    Court fines tailor for bad stitching, late delivery in Lahore

    A consumer court in Lahore has fined a tailor for stitching badly made clothes and delivering them late, Ary News has reported.

    According to details, Muhammad Shahbaz Chishti gave two suits to tailor Muhammad Hafeez on April 1, 2021. In his appeal, Chishti said that the tailor promised to provide the clothes on April 8, but instead delivered them on April 25. “I was to wear these suits at the wedding ceremony of my best friend, but late delivery and faulty service compelled me from doing so,” said Chisti in his complaint.

    He demanded Rs2,000,000 as compensation for the damages but the court has ordered the tailor to pay Rs51,500 as fine.

    Earlier this month, a Lahore consumer court judge, Waseem Afzal Mian, imposed a fine of Rs60,000 on a salon for not completing the makeup of a bride.

  • Karachi Kings spinner Imad Wasim fined for breaching PSL Code of Conduct

    Karachi Kings spinner Imad Wasim fined for breaching PSL Code of Conduct

    Karachi Kings’ former captain Imad Wasim has been fined five per cent of his match fee for breaching Level 1 one of the Pakistan Super League (PSL) Code of Conduct during his team’s clash against Islamabad United at the Gaddafi Stadium in Lahore on Monday.

    Read More – Quetta’s Jason Roy fined for breach of code of conduct

    The incident happened in the first over of the match when Imad Wasim used inappropriate language after dismissing opener Rahmanullah Gurbaz, who had earlier hit him for a couple of sixes. Wasim was found to have violated Article 2.5 of the PSL Code of Conduct for Players and Player Support Personnel.

    While he also celebrated in a teasing style when he got the wicket of Islamabad captain Shadab Khan.

    The Article relates to “using language, actions or gestures which disparage or which could provoke an aggressive reaction from a batter upon his/her dismissal during a PSL Match”.

    Meanwhile, Imad admitted the offence and accepted the sanction proposed to be imposed by the match referee Ranjan Madugalle and, as such, there was no need for a formal hearing.

    The charges were levelled by on-field umpires Asif Yaqoob and Richard Illingworth, third umpire Rashid Riaz and fourth umpire Nasir Hussain.