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Agriculture and Allied: Pakistan


The Met Office has urged the growers to stop irrigating their crops keeping in view the expected rain in agricultural plains of the country. "Farmers are advised to stop irrigation of crops by keeping in view of the occurred and expected rain in agricultural plains of the country," said the office in its 10-day advisory to farmers.

Ministry of Industries and Production (MoI&P) fears that Rs 9 million worth of imported urea stored in godowns of National Fertiliser Marketing Limited (NFML) will likely to decay if dealers do not pick it up due to zero margin, well-informed sources told Business Recorder. Though MoI&P submitted a summary to the Economic Co-ordination Committee (ECC) of the Cabinet to fix dealers' margin a week before, no decision has been taken so far.
Engro Fertilisers, (EFERT) on Wednesday announced 1Q2014 profit of Rs 1.4 billion translating into EPS of Rs 1.1 as compared to profit of Rs 0.64 billion (EPS Rs 0.5) in the same period last year. According to Zeeshan Afzal of Topline securities during the period, revenues increased by 53 percent YoY to Rs 14.9 billion mainly due to estimated 49 percent higher sale volumes.
Pakistan Mercantile Exchange (PMEX) witnessed an increase of 78.63 percent in the value traded on Wednesday. Total value increased to PKR 3,190 million from PKR 1,785 million on Tuesday. Number of lots traded also increased to 17,102 from 8,100. PMEX Commodity Index closed at 2994. Major business was contributed by crude oil amounting to PKR 1,762 million, followed by gold (PKR 1,372 million) and silver (PKR 54 million).
Punjab Minister for Food and Chairman Cabinet Price Control Committee Bilal Yaseen has vowed to bring down the prices of potatoes at Rs 30 per kilogram and warned that hoarders contributing to the higher prices of vegetables would not be tolerated. These views were expressed by him during a surprise visit to vegetable and fruit market at Multan Road here on Thursday.
TVET Reform Support Programme recently launched a new citrus production and processing training programme to enable the citrus growers for getting better production. Currently, Pakistan earns $125 million annually from citrus by producing 2.5 million tons of citrus. After the implementation of these training programmes, it is assumed that these impressive numbers will be improved further which will contribute towards generating more revenue for the country.
Reference is made to a news item "Chairman PSM Board of Directors" carried by Business Recorder on 21.04.2014. It is clarified that the appointment of present Chief Executive Officer(CEO) of Pakistan Steel Mills (PSM) Major General Zaheer Ahmed (Retd) is in accordance with Companies Ordinance, 1984 and PSM Memorandum and Articles of Association.


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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln