Petroleum production up by 11.62pc in five months

ISLAMABAD (APP): The production of petroleum products witnessed 11.62 percent increase during the first five months (July-November) of the current fiscal year as compared to the corresponding period of the last fiscal year. According to latest data of the Pakistan Bureau of Statistics, the petroleum products that contributed in positive growth included motor spirits, output of which grew by 13.31 percent during the period under review. The production of High Speed Diesel grew by 12.19 percent, Diesel oil by 45.38 percent while the output of Furnace oil witnessed growth of 12.18 percent.Similarly, the production of Jute batching oil increased by 28.80 percent, Solvent Naptha by 15.59 percent while the production of LPG increased by 38.86 percent. The petroleum products that witnessed negative growth in production included jet fuel, output of which decreased by 5.48 percent, Kerosene oil 8.22 percent, while the production of lubricating oil declined by 5.83 percent.

Meanwhile, on year-on-year basis, the production of petroleum products increased by11.62 percent during the month of November 2017 against the production of same period of last year.

Livestock dept for promoting

buffalo farming

MULTAN (APP): Punjab Livestock Department is taking various measures to promote buffalo farming across the province with an objective to ensure bumper production of milk, meat and improve financial condition of cattle farmers. According to official sources, the livestock sector had emerged as largest sub-sector in agriculture, contributing 58.3 per cent towards agriculture value addition. The demand for livestock products was continuously increasing due to population growth, urbanization, increase in per capita income, changing consumer preferences and export potentials. Similarly, the livestock was a major part of rural socio-economic system and it could act as driving force for reducing poverty in rural areas. Pakistan was rich and had highest buffalo milk genetic potential, buffalo density and percentage of milk. Punjab was home of the world renowned breed of "Nili Ravi" buffalo, which had also been acknowledged as "Black Gold" by the Food and Agriculture Organization.

Buffalo milk shares was 61.52 per cent in total milk production of Punjab. Similarly, 64 per cent buffalos were present in Punjab, 28 per cent in Sindh, 7 percent in KPK and one per cent in Balochistan.

The Livestock sector took various initiatives including improvement in feeding, management, genetics, housing requirements, rationalization and upgradation of existing of all types of resources and participation of different stakeholders to increase buffalo production. All these initiatives brought considerable improvement in exploiting the genetic potential of buffalo, sources added.

Plan to promote agriculture sector

SIALKOT (APP): Punjab government has launched a comprehensive programme to promote agriculture sector on modern lines and to save irrigation water from wastage. The sources in agri department told APP on Sunday that, the plan would pave the way for introducing modern and profitable farming, enhancing productivity, lessening the productivity expenditures, better utilization of fertilizers and pesticides and save the water.  The government was committed to bring about revolutionary changes in agri sector on top priority basis and many steps had already been taken in this regard, sources added.  They said that Punjab government has set aside Rs 4.76 billion for a three year plan for promotion of per acre yield. Under the plan drip irrigation system on over 11,000 acres, solar system for drip sprinkler on over 1,500 acres and tunnel farm technology on over 350 acres of land had been installed. They said that tunnel farming would help to promote the growing off-season vegetables around the year which would be supportive in improving economic conditions of growers.

The government would provide 80 per cent subsidy on installation of solar system, 50 per cent subsidy on installation of Tunnels (Tunnel farm Technology) and 60 per cent subsidy for sprinkler irrigation, sources added.

 PIAF welcomes proposed separate tariff for exporters

LAHORE (APP): Pakistan Industrial & Traders Associations Front (PIAF) here Sunday welcomed the government plan of introducing separate power tariff for export sector, which would be at par with the tariff of regional competing countries. Besides appreciating the announcement, PIAF Chairman Irfan Iqbal Sheikh, Senior Vice Chairman Tanveer Ahmed Sufi and Vice chairman Khawaja Shahzeb Akram asked the authorities to undertake all possible measures aimed at creating an enabling environment for the export sector to grow and making competitive headway globally. They said in a media statement that business community had been demanding of the government since long to focus on bringing down energy cost as Pakistan was losing export markets to Bangladesh, Sri Lanka, India, Vietnam and other regional countries due to high power tariffs. Low tariff of energy would make Pakistani exports competitive in the global market.

PIAF office-bearers said that the government had revived confidence of the industry by announcing export package for five zero rated sectors, which should also be expanded to other industrial sectors including the pharmaceutical and rice sectors, as through this package, the cost of doing business would come down in the country.