Karachi—Federal Minister for Food and
Agriculture Nazar Muhammad Gondal said Monday
that rice exporters have agreed to buy moisture
free IRRI-6 rice crop at the support price of
about Rs 600 per maund. He was responding to the
queries of the media after chairing a meeting
with the office bearers and members Rice
Exporters Association of Pakistan (REAP).
Islamabad—Pakistan and Indonesia would sign
Preferential Trade Agreement (PTA) early next
year to boost economic activities and exploit
trade potential between the two countries. “Both
the countries have agreed to sign Preferential
Trade Agreement which has now entered the final
stage and is likely to be inked by both the
governments in the coming year,” Ambassador
designate to Indonesia, Sanaullah told APP in an
exclusive talk here on Monday.
Karachi—An increase of 0.5% in export finance
rates announced by State Bank of Pakistan on
October 31, 2009 will badly hurt textile
industry which is already passing through
critical period. In a press statement issued
here on Monday, Chairman SITE Association of
Industry Salim Parekh maintained that presently
value added textile sector is already facing
higher prices of yarn and its shortage in the
country. The increase in interest rates would
further aggravate the problems and would
tantamount to ruining value-added textile
industry.
Islamabad—The prices of poultry items
witnessed sharp increase as the chicken prices
in open market was sold at Rs 130- Rs. 150 per
kg, while the retail rates of the eggs were at
Rs. 80 to Rs. 85 per dozen. When conducted by
APP, the Chairman All Pakistan Poultry
Association Dr. Aslam indicated the reasons
behind the recent hike in the prices of chicken
and eggs, he said that the poultry industry had
born huge loss during the last couple of years
due to bird-flue out break in the country.
Hong Kong—Asian
shares were hit on Monday as a dive on Wall
Street at the end of the week was compounded by
the bankruptcy of US bank CIT, stoking further
fears over the strength of the global economic
recovery. Dealers brushed aside last week’s US
data showing the world’s largest economy had
moved out of recession and instead focused New
York’s losses, where concerns over the financial
sector were compounded by profit-taking. Tokyo
ended 2.31 percent off and Sydney dropped 2.21
percent, while Hong Kong was 1.72 percent lower
at noon. Seoul closed 1.37 percent down.
