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The three percent annual increase in edible oil consumption is a great burden on the country's foreign exchange, Atif Ikram Sheikh, newly-elected Chairman of Pakistan Vanaspati Manufacturers Association (PVMA), said on Sunday. In his first meeting with the stakeholders after being elected unopposed, he said the draining of for exchange reserves owing to import of edible oil, calls for increased availability of domestic and imported oilseeds, new edible oil refineries and better functioning of the oilseed extraction industry.

Water level is continuously rising in River Indus at Sukkur Barrage. A water torrent of 400,000 to 500,000 cusecs is expected to pass through Sukkur Barrage in the next 24 hours. Currently, water inflow at Sukkur Barrage is recorded at 340,792 cusecs while outflow is 252,697 cusecs. Kotri Barrage is receiving 99,854 cusecs while outflow is 56,958 cusecs.
The country spent over 40 percent higher on import of insecticides during the last fiscal year 2013-14 to fight against diseases and pests to protect human lives and crops, Pakistan Bureau of Statistics (PBS) revealed. According to PBS, country's import of insecticides remained higher to 122.942 million dollars in the last fiscal year 2013-14 up by 35.352 million dollars from 87.590 million dollars in the corresponding fiscal year 2012-13.
Pakistan Vanaspati Manufacturer's Association (PVMA) in its 330th Executive Committee meeting held on Saturday at Islamabad has elected a new set of office-bearers, who will assume their offices w.e.f. October 1. According to a press release issued by the PVMA here on Saturday, Atif Ikram Sheikh, an Islamabad-based leading industrialist, has been elected un-opposed as Chairman for year 2014-15. Likewise, Mian Tassaduq Rasool and Awais Karni elected for the slot of Senior Vice and Vice Chairman respectively.
The prices of most of the essential kitchen items remained on high side during the week past as compared to the preceding week, revealed a survey conducted by Business Recorder here on Saturday. According to the traders and wholesalers in different markets of twin cities, the recent torrential rains and floods destroyed standing crops including vegetables and fruits, disrupting the supply chain.
As a result of a Rs 18.5 billion financial package approved by the ECC for the revival of Pakistan Steel Mills, its regular production has since been gaining momentum. The production capacity of the country''s premier steel production unit, has now risen to 25 percent from a paltry 3 percent in May 2014. The CEO, Pakistan Steel, Major General Zaheer Ahmed Khan (Retd), briefed the Federal Minister for Finance Ishaq Dar about the progress of Pak Steel at a review meeting here on Saturday.
Shahnawaz Ishtiaq on Saturday was elected Chairman of Pakistan Steel Re-Rolling Mills Association (PSRMA) while Mian Muhammad Shoaib Arshad Senior Vice Chairman, Sufi Muhammad Azeem Vice Chairman (Lahore Circle) and Hanif Jewani Vice Chairman (Karachi Circle) for the year 2014-15.

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 18, 2014
Reserves $13.525 bln