Soyabean, palm oil improts increase in first quarter

ISLAMABAD (APP): Edible oil imports including soyabean and palm into the country during first quarter of current financial year grew by 78.11 percent and 38.53 percent respectively as compared to the imports of the corresponding period of last year. During the period from July-Sept 2017-18, about 101,094 metric tons of soyabean oil valuing $77.155 million imported to fulfil the local consumptions as compared the imports of 24,485 metric tons worth of $43.297 million of the same period last year. According to the data of PBS, about 721,097 metric tons of palm oil costing $510.308 million imported in first three months as compared the import of 542,145 metric tons valuing $368.383 million of same period last year. Meanwhile, tea import into the country during first quarter also grew by 2 percent and reached at $77.115 million as against the import of $134.448 million of same period last year. Around 48,794 metric tons of tea imported during last three months as compared the imports of 54,962 metric tons of same period last year.

In last three months of current financial year, about 49,330 metric tons of spices worth $46.439 million imported as compared the imports of 34,322 metric tons valuing $30.631 million of same period last year. In first quarter, food group imports into the country registered increase of 19.35 percent and stood at $1.622 billion as compared the imports of $1.359 million of same period last year.

On the other hand, exports of the food group grew by 17.52 percent as compared the exports of the corresponding period of last year. Food Commodities worth $742.391 million were exported during the period from July-September, 2017-18 as compared the exports $631.731 million of same period of last year.

 

Indus Motor announces financial results

 

KARACHI (PR): The Quarterly Board Meeting of Indus Motor Company Ltd for the first Quarter of FY18 was held on Friday. The company’s financial and operating performance for the three months ended Sept 30, 2017, was reviewed. The sales of Indus Motor Company for the quarter ended Sept 30, 2017, were 15,354 units, which is an improvement compared to figures of the same period last year which were 14,542 units. Production increased from 14,851 units in the same period last year to 14,971 units in this three month period. The company’s sales revenue increased to Rs31.2 billion, up 21pc over Rs25.8 billion, with the after tax profit of Rs3.6 billion, as compared to Rs3 billion achieved during the quarter ended Sept 30, 2017. An interim cash dividend of Rs 30 per share was paid. The interim dividend paid for the same period last year was Rs 25 per share. IMC CEO Ali Asghar said that demand for automobiles remained robust throughout the first quarter, stemming from the favourable macroeconomic indicators, positive consumer sentiment and the availability of consumer credit.

 

 

Engro, GE Power ink agreement

 

LAHORE (PR): GE Power (NYSE: GE) has signed a 10-year agreement with Engro to implement the Asset Performance Management (APM) solution, powered by Predix, at six power plants – the Engro Powergen Qadirpur Ltd 220 megawatts Combined Cycle Power Plant, Engro 660MW Thar Power Plant, Kolachi 450MW Combined Cycle Power Plant and two upcoming wind power generation sites in Pakistan, as well as the GEL 75MW facility in Nigeria. The plants are expected to generate up to 1,500MW together and are equipped with both GE and non-GE power generation equipment. The APM solution will enable Engro to boost the operational reliability of the equipment installed at these facilities. The agreement was signed by Shahab Qadir, Chief Executive Officer of Engro Powergen Qadirpur Ltd and Farid Tareen, Vice President of GE’s Power Digital business in the Middle East & Africa, in the presence of senior executives from both companies at GE Digital’s 6th Annual Minds+Machines Conference held in San Francisco on October 25 and 26.

 

SAARC chamber to organise workshop on effective communication

ISLAMABAD (APP): SAARC Chamber of Commerce and Industry will organise a two -day international communication workshop on theme of “strategies and mechanism to optimise the external communication of the SAARC Chamber” in Pakistan from October 30. SAARC Chamber Vice President Iftikhar Ali Malik said that 18 delegates drawn from Pakistan, India, Sri Lanka, Nepal, Bhutan, Maldives, Bangladesh and Afghanistan will attend the moot to be held at Lahore and share their expertise to devise the viable strategy to strengthen relation among the member states. Explaining the objectives, he said that participants will learn the basic rules of successful communication, develop content strategy to optimise SCCI’s communication efforts, understand the challenges being confronted besides evolving planning to highlight the importance of national federations for the success of the regional body.

He said that participants will also develop a core strategy statement and message for SCCI and define target audience and identify suitable channels for effective communication to achieve targets.