Market Watch

Punjab, Sindh reject Centre's proposal to abolish Food Depts

LAHORE-Both Punjab and the Sindh provinces have ignored the federal government’s proposal regarding the abolition of food departments, which is one of the major conditions of the Asian Development Bank (ADB) for sanctioning the $200 million loan for agriculture sector reforms. Detail

SBP withdraws restrictions on banks for Wheat procurement

KARACHI-The State Bank of Pakistan on Wednesday withdrew restrictions on banks to finance procurement of wheat by the private sector while also reducing minimum margin requirement to 10 and 15 per cent, respectively.
"The State Bank of Pakistan (SBP) has withdrawn restriction on banks to finance procurement of wheat by the private sector. The Bank has also substantially reduced the minimum margin requirement in respect of advances extended by commercial banks for wheat , according to a circular issued to all banks by SBP. Detail

Mango exporters wary of EPB's plan

KARACHI-Though Chairman Export Promotion Bureau (EPB), Tariq Ikram along with his entourage is busy in UK in organising mango shows, no concrete step has been taken to increase the volume of mango exports even in traditional markets. Detail

No more sugar import from India, says Dawood

LAHORE-Federal Commerce Minister Abdul Razzak Dawood stated categorically Saturday that the import of sugar from India will not be allowed. However, according to him, free trade agreements with Bangladesh, Sri Lanka and Kenya are under consideration of the government. Detail

Junejo underlined the need to increase shrimps export

KARACHI- Federal Minister for Agriculture, Livestock and Fisheries Khair Muhammad Junejo has underlined the need to increase export of shrimps to earn more foreign exchange. Detail

Country facing huge losses due to contamination of cotton

KARACHI-Federal Minister for Agriculture and Fisheries, Khair Muhammad Junejo has said that Pakistan is losing millions of dollars in the world market due to contamination of cotton.

Talking to newsmen after inauguration of Shrimps Hatchery, set up by Marine Fisheries Department (MFD) at Hawks Bay here on June 22, Junejo said "We want to initiate an aggressive campaign to eliminate cotton contamination from harvesting to ginning and processing," he remarked. Detail

Govt to pull out from wheat trade after 2002

ISLAMABAD - The fiscal year 2001-2002 would be the last year for the government to act as an active player in the wheat business after which it would pull out from even procuring wheat for strategic reserve purposes. Detail

Sugar output to touch 3m tons 

KARACHI-The sugar production has set to touch three million tons this year, according to a quarterly statement of Pakistan Sugar Mills Association released here on Saturday.

The calculated figures in the statement showed that as on May 31, 2001, the total sugar production in the country, including cane, raw and beet, stood at 2.93 million tons. 

The overall sugar production situation was better over corresponding period last year. The country during same period last year had produced 2.42 million tones sugar, showing an increase of 0.51 million tons. However, as compared to last year less quantity of sugar has been lifted from the sugar mills. Statement showed that so far 1.64 million sugar has been lifted from the mills while during same period last, the lifted quantity was at 1.80 million tons. 
According to statement, sugar production in Punjab has been recorded to 1.65 million tons, showing an increase of 0.34 million tons over the 13.1 million tons produced same period previous year. Of which, .94 million tons lifted and 0.71 million tons lying unsold. The sugar production in NWFP was at worst as compared last year, as per this statement, the commodity production has been at 0.06 million tons as compared last year's 0.10 million tons. 

Cotton production at 10.8m bales estimated.

The Standing Committee on Cotton Crop has estimated the cotton production at 10.8 million bales in the country during the current cotton season. Of the total target, Punjab will be producing 8.6 million bales while Sindh province 2.2 million bakes on ex-farm and running bales basis. Detail..

Water shortage: Cotton sowing  will be delayed


The sowing of cash Kharif crop-cotton will be delayed by seven to 10 days in most parts of the Punjab as water shortage multiplies after allowing Sindh to get water from the quota of the province during April 9 to 25, 2001. However, according to officials agriculture experts, there will be no adverse affect on the production of upcoming cotton crop.

The senior officers of the Agriculture Department disclosed that early sowing of kharif crop in Muzaffargarh, Layyah, Bhakkar and Sargodha, starting from April 15, would be most affected for want of water, leading to the reduction in the production of the crop. 
It is learnt that cotton sowing will be delayed from seven to 10 days in the central and southern Punjab due to the non-availability of water, keeping in view the time requiring for land preparation.

Meanwhile, in response to new water-sharing formula, the Irrigation Department will revise its Kharif Canal Rotation Plan during this week in order to manage the water shortage, sources told The Nation. A meeting will be held on April 16, where the top officials of Agriculture and Irrigation departments will devise new plan.

It is widely believed that the available water is not sufficient for the sowing of cotton and other kharif crops. "By following water management techniques at micro level, we might be able to provide equitable water to all areas of the province" a senior officer said.

Punjab is currently supplying water to fulfill drinking water needs of people and livestock living in brackish groundwater area," he informed. Sources revealed that the province had been facing 70 per cent shortage in water supply. 

"The country is facing -10 per cent shortage as compared to the historic minimum level at Indus at Tarbela, -29 per cent at Kabul at Nowshehra and -27 per cent at Jehlum at Mangla," he added.
However, the officers of the Irrigation Department hoped that water inflow would improve soon, increasing water availability by at least five per cent. He said that rice sowing and better production of sugarcane crop would depend on rainfall in monsoon season. He feared that kharif crops would be badly affect while sowing to rabi 2001-2002 would also be affected negatively if there were no normal rainfall in monsoon.

It may be noted that a high-level meeting on April 9 decided that during the period from April 9 to 25, Punjab will get only 5,000 cusecs of water from Indus River everyday as compared to normally more than 10,000 cusecs it used to get in these particular days. The decision to this effect was announced by Chief Executive Pervez Musharraf in consultation with the governments of the two provinces. 

Under the arrangements, Punjab would draw only 5,000 cusecs of water from the Indus Arm during the said period. The excess water over 5,000 cusecs would be utilised by Sindh. 

Pakistan to meet food requirement of friendly countries. Back to the top

Federal Minister for Food and Agriculture Khair Muhammad Junejo on Tuesday said Pakistan is producing enough agricultural surplus to meet the food requirements of the friendly countries. 

While emphasizing the need of cooperation between the Iraq and Pakistan, he said the people of both the countries could benefit, from the experiences of each other. He stated this when Iraqi Minister for Housing and Construction Ma'an Sarsam called on him here.

Both the Ministers discussed matters relating to enhancement of trade and cooperation between the two countries. Minister for Food and Agriculture while enumerating the steps and initiatives taken by the government to raise the level of production in the country, said that agriculture was the back bone of our economy and the government has thrown its weight behind it. 

The government has adopted extensive as well as intensive methods to raise the agriculture production in the country. He said the government was paying special attention towards the farm sector and introducing latest technology in it. The government was also providing better seeds & credit facilities to the farmers to resolve the marketing problems of the agri product.

The Minister while emphasizing the need to improve the marketing side of agriculture sector said that the future prospects of the farm sector in the country was bright and measures will be taken to fully exploit the potential of export market. 

He said that friendly countries like Iraq and Gulf States were the potential markets for our surplus agricultural products. Iraqi Minister while appreciating the support and cooperation of the government and people of Pakistan towards his country said that people of both the countries were tried in inspirable and there was much commonality for their mutual cooperation. 

Lauding the steps taken by the government of Pakistan to improve economy, the Minister said that Iraq was a vast market for the agriculture surplus of Pakistan. Iraq was already purchasing Tractors from Pakistan. 

While showing interest in the agricultural research and research technology, the Iraqi Minister said that a team of experts would be sent to Pakistan to explore the vistas of cooperation. 

Pakistan is having an added advantage of its relations with Iraq and this can be used to multiply the volume of trade between the two fraternal countries, the Iraqi Minister said.

Pakistan to export potable water to UAE. Back to the top

Pakistan is striking a deal with United Arab Emirates (UAE) for 
exporting at least 150 million gallon potable water daily from Hangol Dam (Balochistan), a project shelved by Wapda for the last many years.

In this connection, Chairman Wapda Lt Gen Zulfiqar Ali Khan is currently visiting the UAE to work out the details of the deal. This was stated by General Manager (Water) Wapda Ahmad Khan Bhatti while delivering a technical lecture on "Water crisis cause, consequence and cure" here on Saturday under the aegis of Institute of Engineers Pakistan (IEP).

Ahmad Khan Bhatti said there is a possibility to export water from 
Hangol Dam to the UAE, he said and added, the Emirates and Saudi Arabia have to spend hefty amount on indigenous desalination of water which has become unfeasible with the passage of time.

He said that financing of Pakistan's certain projects was also on the agenda of Chairman Wapda's ongoing visit to UAE.