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Agriculture and Allied: Pakistan


Federal Minister National Food Security and Research Sikandar Hayat Khan Bosan has said that state-of-the-art crop forecasting system has been installed at Suparco and the Crop Reporting Services of Punjab and Sindh by the Food and Agriculture Organisation (FAO) of the UN and the US Department of Agriculture.

On Tuesday at Pakistan Mercantile Exchange (PMEX) value traded was PKR 2.99 billion as compared to PKR 2.49 billion reported on Monday, an increase of 20 percent. The number of lots traded also increased by 7 percent to 11,004 from 10,279. PMEX Commodity Index increased by 0.37 percent and closed at 2,867. Major business was contributed by crude oil amounting to PKR 2.01 billion, this was followed by gold (PKR 907 million) and silver (PKR 70 million).
Ministry of Industries and Production (MoI&P) is reportedly furious at Chief Executive Officer (CEO) Pakistan Steel Mills (PSM) Major-General Zaheer Khan (retired) due to "informal closure" of the mills for the last 20 days, well informed sources told Business Recorder from Karachi. "Who is responsible for the loss and what action has been taken against them," the sources quoted MoI&P enquiring from the CEO. PSM's production is almost nil due to leakage of second blast furnace and no appropriate measures have been taken so far, the sources added.
Auditor General of Pakistan (AGP) has detected a billion of rupees financial loss to the national exchequer by the Pakistan Steel Mills (PSM) management. Auditor General maintained that the corporation has not complied with the requirements of IAS 16 "property, plant and equipment", each significant part depreciated a formal review of useful life and residual of the plant is required to be carried out.
Punjab Agriculture Minister Farrukh Javed has said that agriculture sector is facing complex challenges including low agricultural productivity, high cost of inputs and water and climate changes issues. These are the real hurdle to attain food security. He was chairing 39 senate meeting of University of Agriculture Faisalabad at New Senate Hall as Governor's nominee.
The treasury members Tuesday heaped criticism on ministers and raised questions on their performance, urging the government to take initiatives for the development of agriculture sector by giving incentives to small farmers. The opposition members also supported the views of treasury MPs by thumping desks and raising slogans.
The Ministry of Industries and Production (MoI&P) has proposed import of 0.385 million tons urea from open international market to meet Rabi season requirements, well informed sources told Business Recorder. Giving the details, sources said Economic Co-ordination Committee (ECC) in its meeting last month approved the import of 0.185 million tons urea through SABIC facility against a requirement of 0.6 million tons for Rabi.


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln