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Agriculture and Allied: Pakistan


The Chief Minister Punjab Shahbaz Sharif has inaugurated a wheat harvesting campaign-2015 here on Saturday at the Warah Malik Shah Muhammad Awan village. Shahbaz launched the campaign by cutting the crop through a traditional sickle and also harvested by driving a harvester. After the opening, he congratulated the farmers for a bumper wheat crop during the current year.

Prices of entire range of essential kitchen items have witnessed further reduction last week as compared to the preceding week, reveals a survey conducted by Business Recorder here Saturday. Due to abundant supply, prices of vegetable, fruits and other kitchen items witnessed a reduction in the wholesales as well as in the retail markets of the twin cities, while prices of non perishable items including pulses, wheat flour, rice, spices and other items remained stable, the survey observed.
Chairman of Federation of Pakistan Chambers of Commerce & Industry's (FPCCI) Standing Committee on Horticulture and Agricultural Produce, Ahmad Jawad, has urged the government to give subsidy on agricultural products relating to global food security issue.
Punjab Minister for Labour and Human Resources Raja Ishfaq Sarwar inaugurated wheat harvesting at Chak No 6 J.B Sargodha road by driving harvester in the wheat farm. Members Punjab Assemblies Chaudhry Zafar Iqbal Nagra, Chaudhry Faqir Hussain Dogar, DCO Noorul Amin Mengal, EDO Agriculture Dr Ishtiaq Hassan, others officers of Agriculture department and a large number of farmers were present on the occasion.
On Thursday at Pakistan Mercantile Exchange (PMEX) value traded was PKR 2.293 billion. The number of lots traded was 13,232. PMEX Commodity Index closed at 2,612. Major business was contributed by crude oil amounting to PKR 1.568 billion followed by gold (PKR 642 million), silver (PKR 82 million).
Privatisation Commission (PC) has reportedly approved $ 100 million notional value of Pakistan Steel Mills (PSM) and appointed consortium of Pak China Investment as Financial Advisor to prepare the entity for sell-off, sources close to Chairman PC told Business Recorder. Pakistan Steel is the largest and the only integrated steel plant of Pakistan, with a production capacity of 1.1 Million Tons Per Year (MTPY) expandable upto 3.0 MTPY.
Regarding a news item titled "PSM management exaggerating production data?", published by Business Recorder, it is wrongly mentioned that exaggerated data was given to get Rs 18.5 billion. It would have cost much more to the government to keep this national asset bleeding, therefore Rs 9 billion were given for raw material which are still intact in the form of inventory and remaining included 3 months previous salaries, utility bills and old liabilities of spares, stores procured and 1 billion again for old gratuity and Provident Fund liability.


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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyApril 16, 2015
Reserves $16.818 bln