Keeping in view the continuing spell of dry weather and rising daytime temperature, farmers have been advised to irrigate cotton and sugarcane crops as per need. The met office on Tuesday issued its latest 10-day advisory for growers, asking the farmers of upper and central parts of the country to complete harvesting process at the earliest to avoid yield loss. Similarly, the advisory urged the farmers of lower half parts of the country to prepare their fields ahead of Kharif [...]
May 22, 2013 5:34 am
Presidential Ordinance on taxation measure has proposed 16 percent standard rate of sales tax on sugar. Sources told Business Recorder here on Tuesday that earlier the FBR has proposed to enhance sales tax on sugar in coming budget (2013-14). Now, the 16 percent sales tax on the commodity would be imposed through the Presidential Ordinance before the announcement of budget. The FBR has estimated to collect Rs 10 billion from this measure in case the Presidential Ordinance is promulgated. Sources [...]
May 22, 2013 5:22 am
Soaring rice demand in China prompted Pakistan to estimate the commodity’s export growth to $1 billion to the neighboring state alone….but the trade needs government’s priority, it is learnt. China has emerged as new rice exporting market for Pakistani traders and rice export to neighboring country has witnessed a robust growth during last year. With an increase of 6000 percent, Pakistan has exported rice worth $268.69 million to China during 2012 compared to $4.278 million in 2011. Since Pakistan is [...]
May 20, 2013 7:22 am
ISLAMABAD: Pakistan has authorised the export of 100,000 tonnes of wheat to Iran in trade not jeopardised by Western sanctions, to settle dues for electricity supplied to the country’s energy-starved border areas, the Commerce Ministry said on Friday. The shipment of 100,000 tonnes was to have been delivered to Iran in mid-February but was delayed by preparations for Pakistan’s May 11 election. “The wheat is being given to Iran against the outstanding payment of $53 million for electricity supplied to [...]
May 20, 2013 6:49 am
RICE is called the ‘golden grain of Pakistan’ because it is the country’s second-most important staple food and the third leading crop in terms of cultivated area. It is also the third-largest cash crop after wheat and cotton. Pakistan is also known as fifth, 10th and 14th largest rice exporter, biggest area cultivator and leading producer of the rice in world, respectively. Hybrid cultivators have, over several years, enhanced the yields of other more freely crossed varieties like maize, for [...]
May 20, 2013 6:35 am
The Federal Board of Revenue has proposed 16 percent standard rate of sales tax on sugar in Budget (2013-14). Sources told Business Recorder on Saturday that the FBR has moved the proposal to the Ministry of Finance for consideration in coming budget. The FBR has estimated collection of Rs 10 billion through this major budgetary measure in case the proposal was accepted by the policymakers. The Board has proposed revision of Federal Excise Duty (FED) rate on sugar. The commodity [...]
May 20, 2013 6:31 am
Pakistan would have to feed more than 200 million people in 2015 and expected wheat demand at that time would be 29.06 million tons. It could never be fulfilled without making tangible governing interventions of ensuring timely provision of irrigating water, seeds, fertilisers and other valuable inputs and later procuring as much as produces by the government that would certainly bridge the need-supply gap and prosper the rural economics. This was stated by Professor Dr Iqrar Ahmad Khan, Vice Chancellor [...]
May 16, 2013 6:22 am
KARACHI: Flour rates have re-surged by Rs 4 to Rs 5 per kilogramme (kg) in the wholesale and retail markets of Karachi during the last 10 days in the wake of imposition of Section 144 by the Sindh Food Department for realisation of 1.3 million tonnes wheat procurement goal. Under the Section 144, inter-district wheat movement is banned by the provincial food department and it remains in place until it accomplishes the desired wheat procurement target as the goal for [...]
May 16, 2013 5:33 am
After the elections, first working session witnessed on the cotton market on Wednesday, giving an impression that some millers and spinners came back in the arena to make purchasing to meet urgent needs, which showed that business confidence was reviving that would improve in the coming days, dealers said. The official spot rate was unchanged at Rs 6,450, they said. In the ready business, nearly 1,500 bales of cotton traded between Rs 6,200-6,500, dealers said. They said many participants preferred [...]
May 15, 2013 5:45 am
The Sindh government is likely to miss its wheat procurement target mainly because of higher commodity prices in the domestic market. Sources told Business Recorder on Tuesday that the federal government had set a wheat support price of Rs 1,200 per mound for the current crop season. The new support price was some Rs 150 per maund higher than the previous support price, which was Rs 1,050 per maund. However, massive buying by hoarders and market movers has resulted in [...]
RSS Feed
Email
Twitter
Facebook