Daily Archives

November 2, 2012

Trade liberalisation: Pakistan to allow import of Indian agricultural goods

By Zafar ISLAMABAD, November 2, 2012: As part of the government’s confidence-building measures with New Delhi, Islamabad is set to allow the use of land transportation to import agricultural goods from India, a move that would likely boost trade in food between the two countries and is vehemently opposed by farmers’ lobbies in Pakistan. The federal cabinet has already decided to grant most-favoured nation status to India, which simply means that Pakistan will not discriminate…

Olive to be cultivated on 1,500 hectares of land in 3 years

ISLAMABAD, 02 November 2012: As many as 1,500 hectares of land would be brought under olive cultivation within next three years with an aim to exploit the potential in this particular sector and make the country self-sufficient in olive production. The three-year project has been launched under the debt swap agreement between Pakistan Agriculture Research Council (PARC) and Italian government for promotion of olive farming in the country, a top official in the council said. “The PARC…

USAID to provide $93 million for Kurram Tangi dam project

November 02, 2012: United State Agency for International Development (USAID) would provide 93 million dollars for construction of Kurram Tangi dam in North Waziristan Agency, costing Rs 59.561 billion. According to documents with Business Recorder, the government has allocated Rs 500 million in PSDP-2012-13, while the USAID has shown its willingness for possible financing of component-1 of Kurram Tangi Dam Project, with the initial investment of 93 million dollars during 2012-14. As many…

Sizeable sales on cotton market

DR ZAFAR HASSAN November 02, 2012: Thursday saw fair volume of turnover on the cotton market where price sentiment was described as being held on a steady basis. Reports said that yarn exports had increased by 29 percent compared to previous year which incited spinners to delve into cotton purchases. Some offtake also increased due to pending purchases following the recently concluded Eid-ul-Azha holidays. Reports were rife that ginners were holding cotton but this news could not be…

Call to review purchase price of sugarcane

LAHORE, November 02, 2012: Kissan Board Pakistan (KBP) has demanded of the Punjab Chief Minister to review the recently announced minimum purchase price of sugarcane. In a press release issued on Thursday, KBP President Sardar Zafar Hussain stated that fresh sugarcane’s minimum purchase price of Rs 170 per 40kg is far less than the “input cost” incurred by the growers. He also regretted that sugar mills have not made payments for last season’s purchase. Zafar said that minimum purchase…

PIAF hails LHC remarks on Kalabagh Dam

November 02, 2012: Pakistan Industrial and Traders Associations Front (PIAF) on Thursday welcomed the Lahore High Court remarks on Kalabagh Dam and called for its early construction, terming it the "only long-term solution" to end power shortage and save the country from devastating floods. PIAF Chairman Sohail Lashari in a statement said that Kalabagh Dam is not only the most viable cheaper power generation project but its preliminary work had already been completed. Kalabagh Dam is…

US MIDDAY: soyabeans rise

November 02, 2012: US soyabean futures rose for a third straight day on Thursday, led by strength in Chinese soya markets tied to encouraging economic data that country, the world's biggest soya importer. Grains followed soyabeans higher, with wheat up for a second day on worries about global crop weather and corn up for a third straight session on technical buying. As the Chicago Board of Trade as of 10:50 am CDT (1550 GMT), most-active January soyabeans were up 18 cents, or 1.2 percent,…

Cotton Spot Rates

November 02, 2012: Official KCA spot rates for local dealings in Pakistan rupees on Thursday (November 01, 2012). ================================================================== The KCA Official Spot Rate for Local Dealings in Pak Rupees ------------------------------------------------------------------ FOR BASE GRADE 3 STAPLE LENGTH 1-1/32" ------------------------------------------------------------------ MICRONAIRE VALUE BETWEEN 3.8 TO 4.9 NCL…

Low support price, high input costs to hurt wheat output: experts

ASMA RAZAQ & FAZL SHER November 02, 2012: Pakistan is likely to miss the wheat production target of 25 million tons set for the crop season 2012-2013 because of low support price fixed by the government for 2012-13 as well as the hike in the price of farm inputs, said Chairman of Agri-Forum Ibrahim Mughal on Thursday. He said: "Wheat sowing season has started in Punjab from October 31 while in Sindh, it started 15-20 days ago. The government has fixed the wheat production target of…

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