01202017Fri
Last update: Fri, 20 Jan 2017 04am

Agriculture and Allied: Pakistan

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Finance Minister, Mohammad Ishaq Dar said Thursday that it was in the interest of both the countries (Pakistan and India) to continue to honour and implement the terms of the Indus Waters Treaty (IWT). In this spirit Pakistan would continue to fulfil its obligations under the IWT, he said. The IWT, he said, was a useful and time-tested mechanism for water sharing and Pakistan has abided by the Treaty since its inception.
The World Bank will provide Rs 48.5 billion loan to Punjab government for 'Punjab Irrigated-Agriculture Productivity Improvement Project (PIPIP)' at an estimated cost of Rs 80.2 billion to improve irrigation technology including drip/sprinkler irrigation system.
Ministry of Commerce (MoC) has proposed the export of 0.3 million tons of urea after considering its likely impact on domestic price and gas supply situation, official sources told Business Recorder. Giving details, the sources said an inter-ministerial Fertilizer Review Committee (FRC) has been constituted in Ministry of Industries & Production (MoI&P) which periodically meets to review the supply-demand situation of fertilizer in the country.
Finance Minister Senator Ishaq Dar has convened a meeting of Economic Co-ordination Committee (ECC) of the Cabinet on Saturday (tomorrow) to formally approve continuation of subsidy on fertilizer for 2016-17 as decided by the Prime Minister despite the fact that three provinces have refused to contribute their share as agreed earlier, well-informed sources told Business Recorder.
South Punjab Forest Company (SPFC) will play an instrumental role in the overall development of commercial forestry on modern scientific lines and purely on marketable basis.
The State Bank of Pakistan (SBP) said on Thursday that export quota to sugar mills would be allocated on first-come-first-served basis and only surplus stock certified by the concerned Cane Commissioner would be allowed to export. As the Ministry of Commerce through a memorandum No. 7(2)/2012-Exp.III has allowed sugar mills to export 225,000 metric tons sugar, the SBP has asked authorised dealers (ADs) to process the export of sugar cases.
On Wednesday, at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 3,110. The total traded value of Metals, Energy and COTS/FX was recorded at PKR 9.15 billion and the number of lots traded was 12,377.