06292016Wed
Last update: Wed, 29 Jun 2016 06am

Agriculture and Allied: Pakistan

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The Water and Power Development Authority (Wapda) spokesperson has clarified a news item appeared in a section of press, wherein it has been stated that impounding in Mangla reservoir has been stopped due to non-completion of rehabilitation works near Khaliqabad by Wapda, consequently water worth billions of rupees is being released.
The government has missed wheat procurement target of 7.05 million tons for 2016-17 as Pakistan Agriculture Storage & Service Cooperation (PASSCO) and provincial food departments failed to meet their targets. According to official documents, PASSCO and provincial food departments have procured 6.23 million tons wheat against the 7.05 million tons target fixed by Economic Co-ordination Committee (ECC) of the cabinet for 2016-17.
A meeting of the provincial Food Committee was held under the chairmanship of the KP Minister for Food Haji Qalandar Khan Lodhi at Civil Secretariat, here on Tuesday. The meeting discussed in detail the matters relating to extension of wheat procurement period renewal of MoU with Bank of Khyber and payment issues with PASSCO.
On Monday, at Pakistan Mercantile Exchange (PMEX), value traded was PKR 5,867 million and the number of lots traded was 14,150. PMEX Commodity Index closed at 2,884. Major business was contributed by currencies through COTS amounting to PKR 3,070 million followed by gold PKR 2,105 million, crude oil PKR 414.38 million, silver PKR 272.65 million and cotton PKR 3.75 million.
A meeting of the Economic Co-ordination Committee (ECC) of the Cabinet has approved two months'' salaries of the employees of Pakistan Steel Mills (PSM). The ECC meeting chaired by Finance Minister Ishaq Dar on Tuesday also considered a proposal of Ministry of Water & Power and approved amendments in agreement between Central Power Purchasing Authority (CPPA) and M/S Rousch, FKPCL and Davis Energen pertaining to revised payment mechanism, aiming to facilitate payments of imported RLNG by IPPs to Gas Suppliers.
Engineering Development Board (EDB) has been accused of extending new entrant status to M/s Belarus Tractors model 510(57 P) under the outgoing auto policy in suspicious circumstances at a recent meeting of Auto Industry Development Committee (AIDC).
Urea sales in the country decreased by 41 percent year-on-year (YoY) to 251k tons during May'16, according to National Fertilizer Development Center (NFDC). Likewise, the DAP off-take showed a meagre three percent YoY decline to stand at 106k tons compared to 110k tons of the same period last year (SPLY). "Dull fertilizer off-take fails to surprise," said Faizan Ahmed of JS Research. Nutrient off-take during May'16 also dropped by 29 percent YoY to 228k tons against 319k tons in the corresponding period last year.