Remittances show 3.41pc growth

KARACHI (Staff Reporter): Overseas Pakistani workers remitted $12833.64 million in the first eight months (July to February) of FY18, showing a growth of 3.41 % compared with US $12410.54 million received during the same period in the preceding year. During February 2018, the inflow of workers’ remittances amounted to $1450.17 million, which is 11.5% lower than January 2018 and 2.33% higher than February 2017.  The country wise details for the month of February 2018 show that inflows from Saudi Arabia, UAE, USA, UK, GCC countries (including Bahrain, Kuwait, Qatar and Oman) and EU countries amounted to $348.31million, $332.18million, $207.27million, $201.01million, $149.4million and $48.65million respectively compared with the inflow of $404.39million, $320.3million, $177.76million, $170.56million, $168.2million and $31.71million respectively in February 2017. Remittances received from Malaysia, Norway, Switzerland, Australia, Canada, Japan and other countries during February 2018 amounted to $163.35million together as against $144.14million received in February 2017.

UK official visits Pakistan

ISLAMABAD (Staff Reporter): The permanent secretary of the UK’s Department for International Development, Matthew Rycroft, visited Pakistan to see first-hand how the DFID programmes are changing lives, said a British High Commission statement on Friday. During his visit to the DFID’s largest overseas programme, Rycroft met with Miftah Ismail, the adviser to the prime minister on finance, revenue and economic affairs, Dr Aisha Pasha and the finance minister for the Government of Punjab, as well as other senior provincial ministers. He visited Lahore, where he went to a government girls’ school and met teachers and students. Rycroft visited an NGO office, where he met beneficiaries from minority groups.  “He was pleased to hear from women, religious minorities, members of the transgender community and people with a disability at the centre,” said the statement. He visited the Business Incubation Centre at the Lahore University of Management Sciences, where he spoke to women entrepreneurs on starting a business in Pakistan.

Speaking at the event, Rycroft said: “The UK and Pakistan have been long-standing partners for 70 years. We are committed to eradicating poverty and achieving prosperity for the country and its people. I’m pleased to be here to see how UK aid is working and the real-life impact of our programmes. We will continue to build stability in Pakistan by investing in start-ups to promote the culture of entrepreneurship in this country. Pakistan is on the path to development and I’m confident that it will reach its true potential in the coming years.”

Tractor production grew by 27.42pc

ISLAMABAD (APP): Tractors manufacturing in the country witnessed about 52.86 percent growth during first half of current financial year as compared the corresponding period of last year. About 32,614 tractors were manufactured locally during the period from July-December, 2017-18 as compared the manufacturing of 21,336 tractors of same period of last year, according to the provisional quantum index numbers of LSM industries of Pakistan Bureau of Statistics. According to the data,  the over-all output of LSMI increased by 5.55 percent for July-December, 2017-18 compared to same period of last year. During the month of December, domestic production of tractors were recorded at July-December, 2016-17. On month-on-month basis, 4,447 tractors were produced locally in month of December, 2017 as compared the manufacturing of 4,497 tractors of same month last year, the data reveled. Local trucks production during the period under review about 4,514 trucks were assembled in first half of current financial year as compared to the assembling of 3,806 trucks of same period last year.

Local production of trucks was recorded at 625 in month of December, 2017, which stood at 680 trucks in the corresponding month of last yea.

During first half of current financial year local production of jeeps and cars were recorded at 114,821 as against the manufacturing of 90,443 jeeps and cars of the same period of last year, it added.

Petroleum sector gets Rs14507m in 8 months

ISLAMABAD (APP): The government has released Rs 14507.657 million for the Petroleum and Natural Resources Division under the Public Sector Development Programme (PSDP 2017-18) during eight months of the current fiscal year against the total allocation of Rs 15747.839 million. According to the official data, Rs 415.807 million have been for acquisition of four drilling rigs with accessories for Geological Survey of Pakistan, Rs 15.191 million for appraisal of newly discovered coal resources in Badin and adjoining areas of Southern Sindh, Rs 3.596 million for exploration and evaluation of metallic minerals in Bela and Uthal areas of district Lasbella Balochistan, Rs 1.396 for exploration of Tertiary Coal in Central Salt Range Punjab, Rs 9.609 million for exploration and evaluation of coal in Nosham and Bahlol areas of Balochistan. Whereas, funds have been released for provision of gas to different localities including Rs 387.421 for gas schemes in District Narowal, Rs 238.786 million in district Sialkot, Rs 300.402 million in district Lahore.

, Rs 340.466 million in NA-132 of District Sheikhupura, Rs 250 million in Peshawar, Rs 252.317 in Swat and Shangla, Rs 142.882 in district Mardan, Rs 700.020 million in Abbottabad, Rs 28.963 million in UC Darya Gali of Tehsil Murree, Rs 254.437 million in Chakwal,  Rs 100 million in District Jhang, Rs 105.357 million in district Sahiwal, Rs 237.610 million in district Okara, Rs 229.272 million in NA-131 of District Sheikhupura, Rs 250 million in district Nankana Sahib, Rs 171.242 million in district Okara, Rs 100 million in district Mandi Bahaduddin, Rs 290 million in district Sargodha, Rs 100 million in district Jhang, Rs 304 million in district Multan, Rs 150 million in district Sahiwal, Rs 100 million in Toba Tek Singh, Rs 250 million in district Khanewal, Rs 347 million in district Mianwali, Rs 224 million in District Muzaffargarh, Rs 500 million in district Bahawalnagar, Rs 140 million in district Dera Ghazi Khan, Rs 350 million in district Mansehra, Rs 300 million in district Jhelum, Rs 42 million in Rawalpindi, Rs 214.587 million in district Pakpattan, Rs 196.470 million in district Gujrat, Rs 371 million in district Mian Channu and Rs 32.160 million in district Narowal.