Last update: Wed, 26 Oct 2016 12am

Agriculture and Allied: Pakistan


The consolidated profit after tax of Fauji Fertilizer Bin Qasim (FFBL) has increased to Rs 244.80 million in the quarter ended September 30, 2016 as compared to Rs 169.319 million earned in the same quarter in 2015. The board of directors of the company in its meeting held on Monday at Islamabad declared that the company's earning per share has surged to Rs 0.26 in the period under review against Rs 0.18 in the same period last year. The company's profit before tax stood at Rs 319.744 million in this quarter against Rs 335.703 million in the same quarter last year.
Pakistan Mercantile Exchange Limited (PMEX), on Friday value traded was PKR 3.04 billion and the number of lots traded was 23,932. PMEX Commodity Index closed at 2,926. Major business was contributed by currencies through COTS amounting to PKR 1.33 billion, followed by gold PKR 888.58 million, crude oil PKR 758.17 million, silver PKR 43.06 million, cotton PKR 10.89 million and red chilli PKR 3.05 million.
The Federal Minister Industries and Production Ghulam Murtaza Khan Jatoi will inaugurate the Red Chilies Processing Centre on Tuesday at Kunri in Sindh province. The Small and Medium Enterprises Development Authority (SMEDA) has established the centre under the Public Sector Development Programme.
Prices of most of essential kitchen items were found to be stable excluding chicken which registered an increase of Rs 1,600 per 40 kg from Rs 4,800 per 40 kg to Rs 6,400 per 40 kg during this past week compared to preceding week, revealed a survey conducted by Business Recorder on Saturday.
Increase in prices of vegetable and other important kitchen items, like pulses, sugar, flour, was witnessed during last week. A visit to local markets revealed that prices of vegetable have gone up by up to 90 percent in retail market, which is beyond the purchasing power of poverty-stricken masses. Consumers complained that authorities didn't take prompt action to check the rising prices of the commodities.
The strong opposition and agitation of the growers forced the provincial government of Khyber Pakhtunkhwa for referring the matter of passage of the KP Prohibition of Tobacco and Protection of Non-Smokers Health Bill, 2016 to a select committee of the house. The Select Committee headed by Leader of House, Chief Minister Pervez Khattak is comprised of all parliamentary leaders in the provincial Assembly.
Privatisation Commission Chairman Muhammad Zubair Saturday pointed out that the government would again start privatisation process of Pakistan Steel Mills in next couple of weeks. The sell-off process was stopped when the Sindh government had shown interest in running the country''s largest steel manufacturing plant, he said while talking to media at Pakistan Business and Economic Summit at local hotel here. The federal government had written a letter to the Sindh government in this regard however no reply was received after eight months, he said. Now the federal government has decided to start work on the privatisation of Pakistan Steel Mills, he added.