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Agriculture and Allied: Pakistan

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The Indus River System Authority (Irsa) on Wednesday released 234,000 cusecs water in the canal irrigation network across the country to meet water needs of the provinces for sowing/growing strategic Kharif crops including cotton, rice and sugarcane, vegetables and fodder, Punjab Irrigation canal regulator M.H. Siddiqui told Business Recorder.

A huge decline in Basmati rice export is feared by Rice Exporters Association of Pakistan (Reap). Reap Chairman Jawad Ali Ghouri has expressed concern over the decline as compared to last fiscal year. In a statement issued here he said that during this fiscal year, "we are facing a decline of 252,900 metric tons in quantity and $260.6 million in value of total rice exports from Pakistan.
Farmers of corn growing areas have reiterated their demand with the government to approve genetically modified corn for commercial plantation in Pakistan as this technology seems to have the potential to reduce the losses caused by various insects and weeds that in turn result in increasing the production of corn crop.
Ministry of Production (MoP) has reportedly presented three options to the government to stop the unending bleeding of financial resources in Pakistan Steel Mills (PSM), well informed sources told Business Recorder. "We have proposed to the Prime Minister to privatise PSM or close it in case fresh injection is not possible," the sources added.
Karachi Fish Harbour Authority (KFHA) has set a deadline of May 28, asking all vessels to return ashore and comply with the annual fishing ban. The ban will start from June 1 and last till July 31 and the new fishing season will begin from August 1 this year, according the KFHA notification.
Agricultural credit disbursement by banks surged by 15.74 percent on year-on-year basis to Rs 259.1 billion in the first 10 months (July-April) of the current fiscal year (2012-13). In absolute terms, disbursement of credit to the agriculture sector increased by over Rs 35.23 billion in July-April of FY 2013 when compared with the total disbursement of Rs 223.85 billion in the same period of the last fiscal year.
Presidential Ordinance on taxation measure has proposed 16 percent standard rate of sales tax on sugar. Sources told Business Recorder here on Tuesday that earlier the FBR has proposed to enhance sales tax on sugar in coming budget (2013-14). Now, the 16 percent sales tax on the commodity would be imposed through the Presidential Ordinance before the announcement of budget.

 



 
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Banking Review 2012

Annual2011/12
Foreign Debt $65.562bn
Per Cap Income $1,372
GDP Growth 3.7%
Average CPI 10.08%
MonthlyApril
Trade Balance $-1.779 bln
Exports $2.130 bln
Imports $3.909 bln
WeeklyMay 20, 2013
Reserves $11.601 bln