Tuesday, June 05, 2012, Rajab 14, 1433
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Business & Finance
Rs 1.02b disbursed among BISP beneficiariesStaff Reporter Islamabad—The Benazir Income Support Programme (BISP) has disbursed Rs 1.02 billion among beneficiaries through 392,000 debit cards during last 10 months of the current fiscal year.
The BISP authorities also signed agreements with several commercial banks in order to further improve efficiency of the payment delivery mechanisms and expand the debit cards facility in over 100 districts by June this year.
Enumerating the BISP’s achievements so far, A senior official told media on Monday that Rs. 33.5 billion have been disbursed among 3.5 million recipients during the financial year under the programme.
Rs 45b spent as fertilizer subsidy to achieve agri targetsStaff Reporter Islamabad—The government has spent around Rs. 45 billion as fertilizer subsidy during last 10 months of the current fiscal year aimed at boosting agriculture and achieving its targets.
The fertilizer industry, being provider of the key input for crop production, has significant importance in the country’s economy and to meet the deficit 1.6 million tonnes of urea was imported during the year.
Gov’t allocates over Rs 13.6b for Finance DivisionStaff Reporter Islamabad—The government has allocated Rs.13,616.044 million for Finance Division projects in Public Sector Development Programme (PSDP) for the year 2012-13.
According to official document, out of the total allocations, Rs.1584 million has been allocated for Project for Improvement of Financial Reporting and Auditing (PIFRA), Phase-II, Islamabad.
The government also earmarked Rs.1785 million for Greater Karachi Sewerage Plant (S-III), Rs.1500 million for Greater Water Supply Quetta (main), Rs.1000 for Gwadar Development Authority, Rs.900 million for 2MW Power Plant for Syngas (IGCC-209) Tharparkar and Rs.700 million for Capacity Building of Teachers Training Institutions and Training of Elementary Schools Teachers in Punjab.
SDPI organizes ‘rapid assessment of budget 2012-13’Tariq Khattak Islamabad—The budget 2012-13 is a politically-motivated traditional annual exercise which will have no positive impact on pro-poor growth and poverty reduction in the country. Experts said it during the ‘rapid assessment of budget 2012-13’ organized by Sustainable Development Policy Institute (SDPI) here on Monday.
They said 12.5 percent tax ratio to GDP, over 1 trillion budget deficit, uncertain economic growth and increasing magnitude of poverty, state’s inability to tax the powerful rule elite and not to stop allocations for them, massive mis-match in allocations and priorities, and conservatively estimated direct costs of US$ 21.2 billion of mis-governance will continue to pose sever challenges to country’s economy and sustainable future.
GM crops imperative to improve agri productivity: ExpertsSalim Ahmed Lahore—The agriculture experts and scientists have termed the adoption of modern agricultural technology vital to improve the productivity of agriculture in the country, saying that Pakistan desperately needs innovations like biotechnology to address challenges in agriculture.
“After the introduction of hybrid maize during the 1990s, farmers have gradually shifted to hybrid maize from traditional/Open Pollinated Varieties (OPVs) as hybrid maize has increased production from a mere 30 maunds/acre to 80-120 maunds/acre.
LED technology can help energy conservationAmanullah Khan Karachi—The Secretary Environment, Sindh Mir Husain Ali has urged the consumers to go on new technologies like LED for energy conservation and save expenditure on industrial, commercial and residential electricity.
Speaking as chief guest at Energy Conservation seminar on the eve of World Environment Day organized by Korangi Association of Trade and Industry (KATI) in coordination with KESC, he said that industrialists should approach federal government for the project of combined effluent treatment plants (CETP) in the industrial zones in Karachi.
Slight fall in price indicesStaff Reporter Islamabad—The Sensitive Price Indicator (SPI) for the week ended on May 31, for the lowest income group up to Rs 8,000, registered nominal decrease of 0.05 per cent as compared to the previous week.
The SPI for the week under review in the above mentioned group was recorded at 175.45 points against 175.53 points registered in the previous week, according to provisional figures of Pakistan Bureau of Statistics (FBS).
M-9 construction work to start next month: Chairman NHAStaff Reporter Islamabad—Chairman NHA Syed Muhammad Ali Gardezi has said that the construction work on Karachi-Hyderabad (M-9) motorway will be started in July 2012. M-9 is being constructed on BOT basis by Malaysian Company Binapuri costing Rs. 25 Billion. Chairman NHA told this in his opening remarks to the members of NHA Executive Board. In order to overcome the initial financial hiccups M/s. Binapuri has signed an MOU with Sindh Government to kick off the project, he added.
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