Daily Archives

September 4, 2012

PMEX posts highest-ever trading volume

September 04, 2012: Pakistan Mercantile Exchange Limited has achieved the highest ever monthly trading volume of PKR 129 billion in the month of August 2012 with a total of 325,000 contracts traded. This is a record increase, crossing the previous high of June 2012 of PKR 119 billion. Discussing the achievement, Samir Ahmed, Managing Director PMEX, added that "This volume record is a testament to the fact that the market continues to grow at a fast pace. It also gives us the assurance…

Fresh hike in POL prices would destroy agriculture economy’

September 04, 2012: Kisan Board Pakistan (KBP) President Sardar Zafar Hussein has termed the fresh hike in diesel and electricity prices as exploitation of the growers and jamming the wheel of agricultural economy. In a statement issued here on Monday, KBP Chief claimed that the fresh increase in prices of petroleum products and electricity would result in closing down of thousands of tube wells. He was of the view that this decision of the government would multiply the hardships being faced by…

Purchase of sugar: TCP issues acceptance letter to Adam Mills

MUSHTAQ GHUMMAN September 04, 2012:  The Trading Corporation of Pakistan (TCP) is said to procure 10,000 tons of sugar from eight sugar mills over and above 200,000 tons, citing Supreme Court's judgement which changed the procurement plan, well informed sources in Ministry of Industries told Business Recorder. Giving details, sources said, in pursuance of the ECC's decision of May 15, 2012 on the summary of Ministry of Industries on "review/update on sugar situation", the TCP floated a…

Sugar export to Tajikistan: TCP for not levying transportation charges

MUSHTAQ GHUMMAN September 04, 2012:  Trading Corporation of Pakistan (TCP) has proposed that Pakistan should not charge inland/domestic transportation cost of 30,000 tons sugar (approximately $1.2 million) from Tajikistan, in addition to already promised discount of $20 per ton as compared to international price, official sources told Business Recorder. The sources said, upon a summary moved by the Industries Division, the ECC, in its decision of August 7, 2012, allowed export of 30,000…

Around 3.377MTs of urea to be available during Kharif: NFDC

September 04, 2012:  National Fertiliser Development Centre (NFDC) has announced that about 3.377 million tons of urea including 0.425 million tons of imported supplies would be available against 3.214 million tons estimated demand, leaving an inventory of 0.159 million tons during on-going Kharif season. The availability would also include 0.8 million tons of inventory and 2.152 million tons of local production. Issuing details about the situation during Kharif-2012, the centre in its latest…

Diamer-Bhasha Dam financing still on the table: ADB

ASMA RAZAQ September 04, 2012: Asian Development Bank (ADB) has said the financing of Diamer-Bhasha Dam is still on the table and the Bank has not walked away from its commitment relating to the funding of the multi-billion dollar project. Werner E Liepach, Country Director ADB claimed while talking to a select group of journalists that ADB is still there for financing the Diamer-Basha Dam, but the pace of the work is not on any fast track as desired by the government of Pakistan.…

Monsoon situation: growers advised to take precautionary measures

September 04, 2012:  The Met Office on Monday advised the growers to take timely necessary measures to protect their crops and livestock while keeping in view the continued monsoon situation in the country. The office in its 10-advisory also urged the farmers of Cotton Belt to irrigate their crop as per requirement as rainy weather is likely to prevail on the belt after September 5. Farmers are advised to stop irrigation of maize crop in the upper half areas, including the agricultural plains…

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