LPG price likely to decrease by Rs 20 per kg

ISLAMABAD (APP): The price of the Liquified Petroleum Gas (LPG) is likely to decrease by Rs 20 per kg following production from Makori field, next week.“ The Hungarian Oil and Gas Company, MOL is operator of the Tal Block in Kohat, which started production processing Tuesday from the field and 450 metric tonn LPG per day would land in market from next week,” the LPG distributor association’s chairman Irfan Khokhar told APP on Tuesday. He opined the production from the plant, which was the third largest facility after PARCO and JJVL would augment supply, resulting in decreasing the commodity’s price by Rs 20 per kg.

He also has called upon the government to take notice of frequent raises in prices of the fuel to extend relief to consumers, adding the commodity had recently witnessed consecutive raises and described them illegal as the prices were jacked up without any notification of the Oil and Gas Regulatory Authority (OGRA), he added.

The government could promote the LPG as alternate fuel by encouraging opening of LPG auto gas stations, across the country, he added.

He said the LPG association would be fully co-operating with the government by presenting workable proposals to resolve issues for promoting LPG to extend immediate relief to consumers who were already faced with high prices of daily-use commodities.

“We have high hopes from government to take effective steps for provision of relief to common people by promoting the LPG and opening its filling stations, across the country,” he observed.

He said the Oil and Gas Regulatory Authority (OGRA) should play its role by taking action against the unethical forces in the LPG sector, that were extracting money through unjustified raises.

“The LPG is mainly used as burning fuel by the poor people of the remote areas and rising trend in its price would put extra burden on their pockets,” he observed.

He dispelled the impression regarding shortage of LPG, saying there was adequate stock available for masses’ requirements.

Bosan leaves for Rome to attend IFAD session

ISLAMABAD (APP): Federal Minister for National Food Security & Research, Sikandar Hayat Khan Bosan has left for Rome, Italy to attend the 37th session of Governing Council of International Fund for Agricultural Development (IFAD). The 4-day event will be held from February 18-21 aiming to promote the agriculture sector by improving livelihood of small land farmers to attain food safety and food security across the globe. The meeting will also focus on different constraints like water shortage, energy, roads, storage and inadequate access to financial markets which were hampering the agri-output.

The minister will represent Pakistan during the session and share the issues and challenges being faced by the agri-sector in the country besides seeking the international best practices to promote the agri-sector.

The theme of the 37th session of IFAD is “Investing in smallholder family farmers for the future we want”. The event will provide opportunity to gain fresh insights into improve the livelihoods of this pivotal group who produce food for one in every three of the world’s inhabitants.

The council will dcuss for using the smallholders as a driving force for poverty reduction, pro-poor growth, food and nutrition security and the attainment of climate goals.

The session will also deliberate on constraints faced by smallholders such as scant infrastructure, lack of storage facilities and water and inadequate access to finance and markets and how best to address these issues through an enabling policy environment- if the potential of smallholder family farmers is to be realized for the greater global good.

Levelled land best for soybean cultivation

LAHORE (APP): Punjab Agriculture department has advised farmers to sow Soyabean in levelled land for better yield after ploughing the tract two to three times A spokesman of the department informed on Tuesday that growers should cultivate Soyabean in morning and evening as these two times are most suitable for this crop. Farmers should sow certified varieties NARC-1, NARC-2, FS-95,Williams-82 and Faisal Soyabean to achieve yield target, he added. He further said that Kharif drill should be used for Soyabean sowing and farmers should apply recommended chemicals to the seeds to render them disease free.

Crop must be watered for the first time after 20 to 05 days of sowing and later on weather factor must be noted before watering the crop.

Mostly whitefly, armyworm, lice attack Soyabean crop so growers should carry out recommended sprays to prevent plants’ damage.

NBP launches remittance services

LAHORE (Staff Reporter): NBP has launched Home Remittance Services in collaboration with Arab National Bank (Telemoney). Khalid bin Shaheen, SEVP/Group Chief of NBP said that NBP is a key player in the remittance market and the remittance arrangement with Arab National Bank is another milestone.  Headquartered in the capital city of Riyadh, the Bank is supported by Regional Offices in Jeddah and Khobar. ANB has an extensive distribution network, with over 270 premises with in the Kingdom. ANB’s outlets include 185 branches  and 85 remittance centers (Telemoney). ANB’s Saudi coverage coupled with NBP’s unmatched outreach in every nook and corner of the country with over 1327 branches nationwide will further facilitate expats.

13.2m cotton bales reach ginneries

MULTAN (APP): Over 13.24 million bales reached ginneries across Pakistan till Feb 15, registering a 4.82 per cent increase as compared to the corresponding period last year. Seed cotton (Phutti) equivalent to 13,242,157 bales reached ginneries till Feb 15 as compared to 12,633,329 bales during the corresponding period last year, says a fortnightly report issued by the Pakistan Cotton Ginners Association (PCGA) here Tuesday. The report says Phutti equivalent to 13.18 million bales have undergone the ginning process. Arrivals in Punjab were recorded at 9.49 million or 9,493,662 bales, exactly 2.55 per cent above arrivals recorded during the corresponding period of last year.

Arrivals in Sindh were recorded at 3.74 million or 3,748,495 bales, showing a surge by 11.03 per cent, as compared to last year.

Exporters have bought 353,369 bales while textile mills purchased 11.76 million or 11,762,493 bales, the report says.

Over 1,126,295 bales are still with the ginneries as unsold stock till Feb 15.