Gold import jumps 65pc in July

 

ISLAMABAD (APP): The import of gold into the country surged by 65.43 percent during the month of July 2017 as compared to the same month of the last year. Pakistan imported gold worth $2.096 million in July 2017 compared to the imports of $1.267 million in July 2016, according to latest trade data of PBS. On month-on-month basis, the import of yellow metal increased by 177.98 percent in July 2017 when compared to the imports of $754,000 in June 2017. In terms of quantity, the gold import soared by 57.14 percent by growing from 35 kilograms in July 2016 to 55 kgs in July 2017. While on month-on-month basis, the import of the precious metal increased by 189.47 percent in July when compared to the imports of 19 kilos in June 2017, the data revealed. Meanwhile, overall metal group import also surged by 59.11 per cent in July 2017 as compared to same months of last year. The metal group import jumped to $466.701 million in July 2017 from $293.317 million in July 2016. On monthly basis, the metal group import also increased by 22.29 percent in July, by growing from $381.635 million in June 2017.

It is pertinent to mention here that the overall merchandise imports during the first month of the current fiscal year (July 2017) increased by 36.74 percent compared to July 2016. The imports into the country during July 2017 were recorded at $4.835 billion compared to the imports of $3.536 billion.

On the other hand, the exports from the country witnessed 10.58 percent increase compared to the corresponding month of last year.

Pakistan exported goods worth $1.631 billion in July 2017 compared to the exports of $1.475 billion in July 2016, showing upward growth of 10.58 percent.

Based on the figures, the traded deficit during July 2017 was recorded at $3.204 billion, which shows growth of 55.46 percent when compared to the deficit of $2.061 billion during July 2016.

 

PAEC seeks generation licence for 50MW coal power plant

ISLAMABAD (APP): Pakistan Atomic Energy Commission (PAEC) has submitted an application to NEPRA for power generation license for its 50MW coal fired power plant at KCP Complex Jauharabad (Khushab). Sources told APP here that PAEC planned to set up a 50MW indigenous coal based generation facility/thermal power plant to meet the electricity requirement of the KCP complex. The total installed capacity of the plant is 50MW and two units each of 25 MW will be installed. Local sub-bituminous coal will be used as primary fuel while imported sub-bituminous coal will be utilized as alternative fuel. The expected commercial operation date of the project is December 2017 while expected useful life of the generation facility will be 30 years. The electric power from the indigenous coal based generation facility/thermal power plant of Licensee-Pakistan Atomic Energy Commission (PAEC) will be dispersed to the load center of Faisalabad Electric Supply Company (FESCO).

 

'Punjab govt spending massive amount on infrastructure'

LAHORE (Staff Reporter): Urban Unit Chief Executive Officer (CEO) Dr Nasir Javed has said the Punjab government is spending an accumulated amount of Rs500 billion to Rs600 billion for development of infrastructure which needs more outcome oriented approach. He stated this while chairing the consultative session for strengthening the monitoring and evaluation system of Punjab hosted by the Directorate General Monitoring & Evaluation Planning and Development Department at P&D Complex, Lahore. Planning & Development Department Adviser Dr Zahir Shah, DG (M&E) P&D Asad Khan, P&D Board member Khalid Sultan, national and international stakeholders including Action Aid, All Punjab AIDS Consortium, UNICEF, LUMS, PLAN International, ADU, M&E, UNFPA, Urban Unit and others attended the session. While opening the session, Dr Nasir Javed warmly welcomed the presence of the representatives of academia, implementation partners, and international development organizations.

   He asserted that improvement in system and in process was dependent upon continuous change with adaptability. He appreciated the innovative concept of restructuring inculcated

by Dr Zahir Shah besides being grateful to all participants with mutual sharing of their ideas, feedbacks which were based on their expertise.

 

 

Nestlé, Telenor Bank join hands for

digital lending

LAHORE (Staff Reporter): As part of leveraging digitisation to benefit its dairy value chain, Nestlé Pakistan has joined hands with Telenor Microfinance Bank (previously known as Tameer Bank) as the first FMCG to facilitate its dairy farmer base through the provision of digital micro-finance lending. Under this programme, Telenor Bank has been disbursing loans to dairy farmers digitally. The bank has pioneered one of the country’s first data driven digital method in deciding the loan limits with near instant loans. Hence, the loans are disbursed directly to the farmers via Telenor Bank’s mobile banking platform, Easypaisa mobile wallets. Under this programme, Telenor Bank has disbursed Rs7.5 million via digital means to dairy farmers supplying milk to Nestlé Pakistan. This form of lending has paved the way for easy and affordable access to finance for dairy farmers in rural areas with limited outreach of financial services, and has also supported farmers in improving their financial sustainability.