Made In Pakistan Expo gets

overwhelming response

KARACHI (Staff Reporter): The Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) has received overwhelming response from the exhibitors and about 45 per cent stalls have already booked for Made In Pakistan Expo 2014 being held in Mumbai India. Addressing a press conference on Monday the Chairman PRGMEA, Arshad Aziz said that if all goes well and the PRGMEA event held in a big way, the event may fetch at least $100 million export orders.  Former Chairman PRGMEA, Ejaz Khokhar, Shaikh M Shafiq and joint organiser Evecon’s Director Mir Nasir Abbas were also present on the occasion.

He said that Pakistani garments especially ladies wear and lawn are in great demand in India and the long term business deals among the two countries will flourish the bilateral trade and Pakistan’s value-added sector could be given big boost. While spelling out details Aziz said that ‘Made In Pakistan Expo which would be held in Mumbai, India from April 3-7, 2014 in order to promote Pakistan’s garments and clothing in the neighbouring country has been duly endorsed by the ministry of commerce and ministry of textile industry.

Indian trade minister likely to

visit Pakistan next week

NEW DELHI (Online): Indian Commerce and Industry Minister Anand Sharma is expected to visit Pakistan next week to inaugurate India Show and meet Khurram Dastagir to discuss ways to enhance trade and investment between the two countries. “The Minister is likely to inaugurate an ‘India Show’ in Lahore and will hold bilateral meeting with Pakistani Commerce Minister Khan in Islamabad. He is expected to be in Pakistan from Feb 14-16.” Recently, Sharma and Khan met here after a gap of over an year and both sides agreed on a non-discriminatory market access (NDMA) programme in place of the MFN regime, besides opening up the Wagah-Attari border round the clock.

13.1m cotton bales reach ginneries, arrivals up by 5.83pc

MULTAN (APP): As many as 13.1m bales have reached ginneries across the country as of Feb 1, registering a 5.83pc increase compared to corresponding period last year. Seed cotton (Phutti) equivalent to 13,100,412 bales reached ginneries till February 1 compared to 12,378,241 bales’ arrival recorded during corresponding period last year, says a fortnightly report issued by PCGA here Monday. Report says, well over 90pc of the total arrivals were converted into bales i.e Phutti equivalent to 13.022m bales have undergone the ginning process. Arrivals in Punjab were recorded at 9.3m or 9,362,185 bales, exactly 3.66pc above the arrivals recorded during corresponding period of last year.

Arrivals in Sindh were recorded at 3.73 million or 3,738,227 bales, showing a surge by 11.70 per cent, compared to last year.

Exporters have bought 343,152 bales while textile mills purchased 11.462 million or 11,462,876 bales, the report says.

Exactly 1,294,384 or 1.2 million bales were still lying with the ginneries as unsold stock till February 1, 2014.

PARC marketed canola hybrid seed to small farmers: Chairman

ISLAMABAD (APP): Chairman PARC Dr. Iftikhar Ahmad on Monday said that PARC marketed 30 tonns canola hybrid seed to the small farmers on nominal rates to eliminate Private Sector company’s monopoly. While inaugurating a five-day training course on “Canola Hybrid Development and Hybrid Seed Production Technology” here at Auditorium of NARC, Dr.Iftikhar Ahmad said that scientists bring change in the life of small farmers through introducing high yielding crops varieties and production technologies. He said the scientists also focus on that crops which have great potential to enhance edible production in the country and to minimize the foreign exchange bill on import of edible oil.

PARC introduced canola in Pakistan during 1980.

Major causes of terrorism in the Khyber Paktum Khwa (KPK), FATA and Balochistan are poverty in the region.

He said premier crops such as Olive and Palm Oil should also be promoted in the country especially in KPK, FATA and Balochistan.

In this training course 21 scientists participated including 17 from KPK and four from other Provinces Punjab, Sindh and Balochistan.

Dr. Iftikhar Ahmad said Pakistan facing a serious shortage of edible oil due to its limited domestic production.

Edible oil requirement has been increasing every year due to increase in population and consumption. At present, 75pc of requirement met through import.

He said the import of edible oil has been increased from 1144 thousand tones during 2000-01 to 2284 thousand tones during 2011-12.

Which almost doubled in during last ten years. Whereas the import bill has been increased in the same period from Rupees 19 billion to 226 billion during 2011-12.

He said PARC in collaboration with Provincial Agri Research Departments was making efforts to strengthen research and development activities by the national coordination research system (NARS).

He added PARC has further strengthened NARS by creating new cooperative units on commodity crops including ten more on oilseed crops.

He further said that PARC has developed Canola Hybrid and sunflower (PARSUN-3) hybrids with good yield potential and took the initiative to produce hybrid seed with PARC Agro-Tech Company (PATCO) on pilot scale.

PATCO-PARC marketed 30 tonns of canola hybrid seed during last two years.

The seed was distributed in 22 districts of Punjab and KPK through private seed company and PATCO, to approximately 5000 farmers. Whereas the total canola seed requirement was 150 tonnes during 2012-13.

On this occasion, in recognition of research work and contribution of scientists, performance shields were also awarded to scientists which included Dr. Iftikhar Ahmad, Chairman PARC, Dr. Shahid Masood, Member (PSD), Dr. M. Azeem Khan, DG NARC, Dr. Abdul Latif, DG (Agr Research) KPK, Dr. M Amjad, National Coordinator (Oilseed Crops), M Shah Sawar Khan, Project Coordinator, Dr. Javed Afzal, NARC and Dr. Muhammad Aslam, Director (API) PARC.

Oil falls on weak Chinese data

LONDON (AFP): Oil prices dropped on Monday as data showing weak manufacturing activity in China fuelled concerns over energy demand in the world's second largest economy, analysts said. New York's main contract, West Texas Intermediate for delivery in March, eased 25 cents to $97.24 a barrel. Brent North Sea crude for March slid 45 cents to stand at $105.70 a barrel in London deals. "Commodity prices are currently under pressure due to weaker-than-expected data on Chinese manufacturing activity," Desmond Chua, analyst at traders CMC Markets, told AFP.  China on Saturday said manufacturing activity slipped to a five-month low in January, confirming a slowdown in factory activity in the world's top energy consumer.

The monthly purchasing managers' index (PMI) declined to 50.5 in January after recording 51 in December and 51.4 in November, according to the government's National Bureau of Statistics and the China Federation of Logistics and Purchasing.

Any figure above the 50 mark indicates expansion of manufacturing activity while anything below that signals contraction.

The news came days after banking giant HSBC said its PMI for China hit a six-month low of 49.5 last month.

Singapore-based Chua said investors will be keeping a close watch on US non-farm payrolls and unemployment data due out on Friday.

"Investors will be focused on the jobs data to see if the disappointing December numbers are a one-off as the US Federal Reserve has said, or if it is the start of something larger," he noted.