Daily Archives

September 7, 2012

Trading activity slows down due to rains

September 07, 2012:  Business activity slowed down on the cotton market on Thursday due to sporadic rainfall in both Sindh and Punjab, dealers said. Official spot rate was unchanged at Rs 5650, they said. In the ready business, nearly 4000 bales of cotton changed hands between Rs 5600-5700, they said. Prices of seed cotton in Sindh and Punjab were at Rs 2200-2500, they added. Market sources said that mills were on the sidelines in anticipation of further slide in the rates. Naseem Usman said…

China offers lower price for cuttlefish: exporters fear decline in exports

ANWAR KHAN September 07, 2012:  China moved to cut the price it offers for Pakistan's cuttlefish, making it difficult for local exporters to capitalise on the new season's catch which so far was 'normal', fisheries sources told Business Recorder on Thursday. "The new season crop is normal and of world quality," head of Akhlaq Enterprises Akhlaq Hussain Abedi told Business Recorder, hoping that the seafood landing was likely to show a robust growth in the coming months. However, he…

Government asked to allow export of 0.5 million tonnes of sugar

September 07, 2012:  Pakistan Sugar Mills Association (PSMA) has demanded of the government to allow export of 500,000 tonnes of sugar before commencement of the next season as the country has surplus stock of the commodity. The demand has been made in a letter written to Prime Minister Raja Pervaiz Ashraf by PSMA Chairman Javed Kayani, in which the government has been asked to allow export of 500,000 tonnes of sugar before commencement of the next season, which according to the association…

Dealers asked not to sell fake pesticides

September 07, 2012:  Director Plant Protection Agriculture Extension Wing Hyderabad Bashir Ahmed paid a surprise visit at different pesticides/fertiliser shops in different markets in Larkana, Tando Mohammad Khan, Kariyo Ghanwar, Golarchi talukas since last three days and drawn different samples of pesticides products and fertiliser from dealer shops to test and examine the quality of same products through laboratories. During the visit, he warned the dealers to avoid sale of fake…

Pakistan’s first Wind Energy Farm based at Jhimpir: Fauji Fertiliser vows support for underprivileged communities

September 07, 2012:  Fauji Fertiliser Company Limited, Pakistan's biggest urea manufacturer has assured its complete and withstanding commitment to the uplift and well being of underprivileged communities around Pakistan's 1st Wind Energy Farm based at Jhimpir, district Thatta. The 50 mega watt Wind Energy Farm has been completed in a record time by FFC Energy Limited (FFCEL), a subsidiary of FFC established with the vision to introducing and promoting renewable and environmental friendly…

TCP”s credit limit enhanced to Rs 135 billion

RIZWAN BHATTI September 07, 2012:  Following the Ministry of Finance''s directive, a consortium of six banks has enhanced TCP''s credit limit by Rs 20 billion to Rs 135 billion to ease import of urea. Sources told Business Recorder on Thursday that the state-run grain trader was seeking an immediate financing of some Rs 25 billion from federal government to open letter of credit (LCs) for import of urea, as its credit limits was almost exhausted owing to rising commodity operation.…

Drip, sprinkler irrigation systems to be installed in 14 districts

September 07, 2012:  Drip and Sprinkler Irrigation Systems would be installed on 7,000 acres in 14 districts of Sahiwal, Multan, Bahawalpur and D.G. Khan Divisions under a mega irrigation project "Punjab Irrigated Agriculture Productivity Improvement Project (PIPIP)." This was disclosed in a high level meeting chaired by the Secretary Agriculture, Punjab Muhammad Mushtaq Ahmad, says a spokesman of the Department on Thursday. Dr Muhammad Anjum Ali, Director General (Ext. & AR), Punjab,…

Slow business on cotton market

DR ZAFAR HASSAN September 07, 2012:  Business sentiment reportedly remained easy on the cotton market on Thursday as turnover remained tardy. Rains over a sizeable portion of the cotton belt, particularly in the southern half of Sindh as in Badin and, Thatta, kept mills away from the market on fears of excessive moisture in the seedcotton as well as lint which would also hurt the quality. Rains also appeared in such Punjab stations as Hasilpur, Mian Channu, Faisalabad and Chichawatni. In…

Gold price surges to Rs 60,000 per tola

September 07, 2012:  The prices of gold on Thursday surged by Rs 700 per tola to Rs 60,100 on the local market, trader said. The price of gold per 10 gram also soared by Rs 600 to Rs 51,514. The yellow metal volume posted a rise of 17 dollars an ounce to 1,709 dollars on international market, they said. Courtesy: BR

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