Soyabean oil import reduced by 51.68pc in 7 months

ISLAMABAD (APP): Edible oil imports into the country during last seven months of current financial year reduced by 51.68 percent as compared to the corresponding period of last year. During the period from July-January, 2016-17, about 41,160 metric tons of soyabean oil valuing $58.59 million imported into the country which was down by 51.68 percent as compared to same period of last year. According the data of Pakistan Bureau of Statistics, soyabean oil import into the country was recorded at 90,500 metric tons worth $120.148 million during the corresponding period of last year. However, palm oil import into the country grew by 6.78 percent in seven months as the country spent $1.15 billion on the import of 1,448,472 metric tons of palm oil to fulfill the domestic requirements of the commodity. Palm oil import into the country during first seven months of last financial year was recorded at 1,541,996 million valuing $951.236 million.

 Web-based system developed for timely implementation of PSDPprojects

ISLAMABAD (APP): The government has developed a web-based Project Management and Evaluation System (PMES) to ensure effective and timely data sharing of Public Sector Development Programme (PSDP) projects. The system is helping in effective desk monitoring of projects while all ministries and divisions have been directed to ensure that data is timely updated. While giving details about the steps being taken by the government to ensure completion of PSDP projects according to their estimated date, official sources at Planning and Development Division said that project-wise released funds are updated on website on weekly basis to make entire release mechanism more transparent. The sources said Projects Wing of Planning Commission monitors projects across the country with a view to facilitate project authorities to overcome implementation bottlenecks. The wing has helped in resolving operational issues leading to timely completion of a number of projects.

The sources said other measures include release of funds was being linked with periodic update of project data and issuance of directions to line ministries and divisions to establish dedicated Project Management Units/Cells to effectively monitor and supervise their projects for timely completion.

 Gemstones worth Rs2.570b exported in three years

ISLAMABAD (APP): Pakistan has exported a variety of precious stones worth Rs2.570 billion during the last three years, official sources said. "The country exported precious stones worth Rs1,363.318m in the year 2013-14, Rs785.5m in 2014-15 and Rs412.5m in 2015-16," they told APP. The sources informed that different varieties of minerals like Peridot, Aquamarine, Topaz in different colours of violet, pink, golden and champagne, Ruby, Emerald, rare-earth minerals Bastnaesite and Xenotime, Sphene, Tourmaline, besides many types of Quartz make the country prominent in the mineral world. The northern and northwestern parts of the country are shrouded by the three world-famous mountain ranges called Hindukush, Himalaya and Karakorum, from where nearly all the minerals, which Pakistan is currently offering to the world market, have been found so far. The sources said out of 25 precious and semi precious stones and mineral specimens, seven were intermittently exploited and marketed all over the world.

 Weekly inflation decreases 0.14pc

 ISLAMABAD (APP): The weekly inflation for the week ended on February 23 for the combined income groups decreased by 0.14 percent as compared to the previous week. According to the data released by Pakistan Bureau of Statistics (PBS) on Friday, the Sensitive Price Indicator (SPI) for the week under review in the above mentioned group was recorded at 219.66 points against 219.97 points last week. As compared to the corresponding week of last year, the SPI for the combined group in the week under review witnessed increase of 2.15 per cent. The weekly SPI has been computed with base 2007, 2008=100, covering 17 urban centers and 53 essential items for all income groups and combined. Meanwhile, the SPI for the lowest income group up to Rs8,000 decrease by 0.10 percent as it went down from 210.10 points in the previous week to 209.89 points in the week under review.