Nationwide Updates

► Healthy growth seen in cement export

Pakistan's cement exports have witnessed a healthy growth of 142 percent to historical level of 7.712 million tonnes during the 2007-08 fiscal year in the wake of rising international demand, industry sources said. They said that at present, regional countries were facing huge shortage of cement, which had played a key role in achieving landmark cement exports during the last fiscal year.  (Business Recorder)

► Imports of US wheat under PL-480

Pakistan is seeking 500,000 tonnes of wheat from the United States under PL-480 – a controversial US food assistance programme – to tackle the food crisis. The request for ‘concessional’ deal/gr ant is being made at a time when Pakistan has managed to cover the 2.5 million tonnes shortfall by arranging imports (also from the US) which are to arrive soonIf there is any cause of worry in ensuring the availability of wheat/flour to the public.  (Dawn)

► Surging food imports, stagnant agriculture

THE surging food import bill is assuming serious proportions, making it imperative to focus on a stagnant agriculture sector. These huge imports, a result of policy failures, can only be reduced by raising farm productivity and production.After all, 65 per cent population-- directly or indirectly involved in agriculture-- has not been able to feed 35 per cent of fellow country men.In the West.  (Dawn)

► Cement price increases to Rs375 per 50kg bag

Cement prices in Karachi are rising continuously and reached Rs375 per 50kg bag in the retail market. Cement dealers attribute this hike to rising cement exports from the south of the country.Walibhai Patel, a cement dealer from Karachi, said that cement prices rose to Rs375 per 50kg in the retail market due to high cement exports from the country.Cement dealers are of the view that cement shortage in the retail market is also pushing up the commodity’s prices.  (The News)

►  Pak cotton output may rise

The International Cotton Advisory Committee has predicted an increase in cotton production in India, Australia, the African-Franco Zone and Pakistan, while expecting a major drop in production in the United States and smaller declines in China, Brazil, Egypt, Turkey and Central Asia.According to a press statement by the ICAC, world cotton production is expected to decline by 3 per cent to 25.5 million tonnes in 2008-09.  (The News)

► Inflation deprives home-based workers of basic amenities

The real average monthly earnings of garment industry workers in the city have been drastically reduced due to galloping inflation and contractual labour. The worst sufferers are home-based workers, a survey conducted by The News revealed. Fahmida Khan, 54, now a home-based worker in Orangi No 12, has been serving the garment industry for the last 30 years and is worried about making ends meet.  (The News)

►  Gas tariff hike: over 33 industrial units cease operations

More than 33 industrial units, including re-rolling mills, textile units, have ceased operation due to recent increase in gas tariff by the government. Most of these units are located in Korangi industrial area.Taking to Business Recorder, KATI Chairman Shaikh Fazl-e-Jalil said on Wednesday that the association was informed that 33 units had stopped production due to unbearable high cost of captive power production and declining sale.  (Business Recorder)

► Bangladesh, Iran to participate in IT moot


Companies from Bangladesh and Iran are to participate in a three-day OIC Telecom, IT Conference and Expo being organised by the Lahore Chamber of Commerce & Industry (LCCI).The Small and Medium Enterprise Development Authority (SMEDA) and Institute of Telecommunication Engineers (INSTEP) are collaborating with the LCCI at this event from July 22 to 24 at Aiwan-e-Iqbal.A number of experts from telecommunications and IT would speak on issues being faced by these sectors in Pakistan and the OIC region.  (The News)

► Pakistan makes substantial progress in implementing IAFSP: ADB report  

Asian Development Bank (ADB) has agreed to provide 200 million dollars as second tranche to Pakistan keeping in view of the substantial progress made in the implementation of the Improving Access to Financial Services (Phase I) Programme (IAFSP).In an update progress report, Team leader, N.P. Knoll, Financial Sector Specialist,  CWAD of ADB, said that there has been substantial progress in implementing the programme. First, the government adopted a national strategy for inclusive financial services and began its implementation.  (Business Recorder)