Oil transportation of PSO increased from 4pc to 38pc

ISLAMABAD (APP): The oil transportation of Pakistan State Oil (PSO) through Pakistan Railways has increased from four percent to 38 percent in three years. "In the past, the percentage of the oil transportation of PSO through railways was only four percent which was very low that has now enhanced by concerted efforts of the Pakistan Railways," an official in the Ministry of Railways told APP. He said the increase has around 10 times more as to the previous transportation of oil through railways and efforts are underway to further enhance it. To a question about the new locomotives, the official said new locomotives will specifically be utilised for freight trains and it will also help increase transportation of oil. "Due to the prudent policies of the present government and efforts of Railways Minister Khawaja Saad Rafique, private companies were also showing interest to invest in Pakistan Railways," he remarked.

 Ogra to hold four UFG awareness  sessions from today

ISLAMABAD (APP): The Oil and Gas Regulatory Authority (Ogra) will hold four stakeholders' awareness sessions from March 3-9, 2017 in Karachi, Lahore, Islamabad and Peshawar. The sessions are aimed at seeking comments on second draft of the Un-accounted For Gas (UFG) study compiled by leading consultants to determine the UFG benchmarks for the next five financial years for both the utilities companies - Sui Northern Gas Pipelines Limited (SNGPL) and Sui Sourthern Gas Company (SSGC), official sources told APP. The awareness session would be held in Karachi, Lahore, Islamabad and Peshaware on March 3, March 6, March 8 and March 9, respectively, they said. The UFG, they said, being one of the most critical elements in the gas sector, played a vital role in the profitability of the gas transmission and distribution companies. "It is important for stakeholders to understand the term 'UFG' and the reasons behind it," they added.

 Seafood exports increase 12.48pc

 ISLAMABAD (APP): Seafood exports from the country during month of January, 2017 registered 12.48 percent increase as compared to the corresponding month of last year. According to the data of Pakistan Bureau of Statistics, 10,254 metric tons of fish and fish preparations worth $27.214 million exported as against 8,707 metric tons valuing $24.194 million of same month of last year. Meanwhile, in last seven months of current financial year, fish and fish preparation exports grew by 10.60 percent as compared to the same period of last year. During the period from July-January, 2016-17, 77,686 metric tons of fish and fish products worth $210.664 million exported as compared the exports of 71,822 metric tons valuing $190.480 million of same period of last year. During first 7 months, meat and meat preparations worth $122.99 million exported as compared the exports of 45,284 metric tons of same period last year.

 Gold import declines 41pc in 7 months

 ISLAMABAD (NNI): The import of gold during first seven months of current fiscal year declined by 41.26 percent as compared to same period of previous year. The gold import during the period under review recorded 248 kg worth $9.289 million against import of 425 kg valuing $15.813 million last year. On yearly and monthly basis, the import of yellow metal in January 2017 also witnessed decline of 26.53 percent and 33.48 percent when compared with the import of January 2016 and December 2017, pointed out latest data of Pakistan Bureau of Statistics. The gold import decreased to $1.385 million in January 2017 from $1.885 million in January 2016 and $2.082 million in December 2016. The overall metal group import, however increased by 4.25 percent in July-January (2016-17) to $2.356 billion from $2.26 billion in same period of previous year. Iron and steel scrap import also witnessed a decrease of 7.47 percent to $553.169 million in first seven months of current fiscal year from $597.833 million in July-January (2015-16).