The government is going to impose new taxes worth Rs 500 billion in the upcoming fiscal budget 2016-17
Government will present budget 2016-2017 on June 3
State Bank of Pakistan Monetary Policy 2016-17Urdu / English
The services sector achieved its growth target of 5.7 per cent.
“But the most worrying aspect of the year was a 0.19 per cent negative growth by agriculture as a whole against the target of 3.9 per cent,” it reported.
Cotton output led the freefall in the agriculture sector, considered the backbone of the national economy, as it posted a negative growth of 27 per cent.
The cotton output stood at 10.1 million bales against the target of 13.96 million bales. Last year, its output stood at 13.9 million bales with a 9.5 per cent growth.
The industrial sector, favoured by the ruling Pakistan Muslim League-Nawaz government, booms as the agriculture sector suffers in the current financial year. As a result, cotton ginning declined by 21 per cent against the target of 5 per cent.
Important crops output fell by 7.18 per cent against the target of 3.2 per cent, while other crops fell by 6.2 per cent against the target of 4.5 per cent. The livestock sector grew by 3.63 per cent, but remained short of the 4.1 per cent target, while fisheries increased by 3.3 per cent, surpassing the 3 per cent target.
Forestry was the only saving grace in the agriculture sector as it grew by 8.8 per cent against the target of 4 per cent.
On an overall basis, industry grew by 6.8 per cent against the target of 6.4 per cent.
The mining and quarrying sector grew by 6.8 per cent against the target of 6 per cent, but the overall manufacturing sector could not meet growth expectations.
The manufacturing sector posted a growth of 5 per cent, but remained short of the 6.1 per cent target.
Cotton Crop sowing position 2016 – 17 of Sindh & Punjab – 12:15 PM – May 05, 2016
Cotton growers state that around 55-60% sowing of the cotton crop has been already carried out in lower Sindh including Hyderabad, Matiari, Tando Allahyar, T.M khan, Badin, Tharparkar, Umerkot and areas till Sanghar district.
In Punjab, around 90-95% wheat threshing has been carried out where as only 5-6% of the cotton crop has been sowed till now in lower districts of Punjab including Rahimyar Khan, Rajanpur, D.G.Khan, Muzaffargarh, Bahawalpur, Bahawalnagar, Vehari and Lodhran. While in upper Punjab districts land preparation for cotton crop is under progress and it is estimated that sowing in Punjab would be completed by the end of June.
Pakistan Sugar market: The Sindh & Punjab price were almost stable yesterday 27/5/2016 due to some buying activites furthur more to imposition of some new taxes, as the budget is near to be announced said by market sources.
LIFFE White Sugar# 5 Future Contracts Closing– 10:00 AM – May 28, 2016
As on 27th May 2016 (1 USD = 104.60 PKR)
Month MYR/Ton PKR / KG
Aug-16 485.20 50.75
Oct-16 486.10 50.85
Dec-16 486.20 50.86
Mar-17 486.80 50.92
May-17 481.90 50.41
Light rain in upper parts, hot weather for most others today – 01:05 PM – 28 May , 2016
Light rain with strong gusts and lightening is forecast in Peshawar, Kohat, Malakand, Hazara among other areas while most parts of the country are likely to witness dry and hot weather, reported Saturday.
Peshawar, Kohat, Gujranwala division, Federally Administered Tribal Areas and Kashmir will see moderate weather today, according to the Pakistan Meteorological Department.
Temperatures will soar in country’s plains. Dalbandin, Larkana, Nawabshah, Jacobabad and Mirpurkhas will witness rather intense day as far as the climate goes.
Punjab’s metropolitan, Lahore, Islamabad and Karachi will also have a hot day.
According to the meteorological department, weather will remain dry and hot in different parts of the country.
Areas that will see light rain today besides Malakand, Peshawar, Hazara and Kohat include DI Khan, Sargodha and Gujranwala division.
According to the department, highest temperatures expected today are Dalbandin, Moenjodaro, Shaheed Benazirabad 45°C, Nokkundi, Larkana, Sibbi, Dadu 44°C.
Hot weather spell continues to torment people across country– 12:35 PM – May 28, 2016
Mainly hot and dry weather is expected in most parts of the country during the next 12 hours.
In Sindh, the temperature will remain high in the next two days whereas Lahore will face a lesser intensity of heat today.However, in next 24-hours rain is expected in FATA, Kohat and various cities of Punjab.
Weather turned pleasant in Multan a day before after downpour while windstorm in Muzaffargarh broke the heat strength. Temperature of some major cities recorded on Friday morning:
Islamabad 21°C, Lahore 27°C, Karachi 29°C, Peshawar and Quetta 24°C, Gilgit 15°C, Murree 17°C and Muzaffarabad 19°C.
Minister expresses satisfaction over wheat procurement drive – 03:00 PM – May 13, 2016
Provincial Minister for Food Bilal Yasin has said that the government is encouraging the private sector for wheat procurement and due to the environment of competition, the cultivators will benefit and get due return of their produce.
He expressed these views while presiding over a meeting of directors of Flour Mills Association at his office on Thursday. Food Director Asif Bilal Lodhi and Flour Mills Association directors Hafiz Ahmed, Mian Riaz and Asim Raza were also present on the occasion. During the meeting the wheat procurement process was reviewed in detail.
The meeting expressed satisfaction over wheat procurement campaign and the facilities provided to farmers at wheat procurement centres. Office-bearers of Flour Mills Association informed the minister that the private sector was with the government in the wheat procurement campaign and would purchase 12 lakh metric tonnes of wheat from all over the province during the ongoing campaign. They said that out of 12 lakh metric tonnes, seven lakh metric tonnes wheat had already been purchased while flour mills were fully active to procure remaining five lakh metric tonnes of wheat.