Govt taking steps to promote olive cultivation

LAHORE (APP): The Punjab government is spending over Rs 2 billion for the promotion of Olive cultivation and to make Potohar an Olive Valley. This was disclosed by the Punjab Agriculture department spokesman while talking to APP on Monday. He said that there were bright chances of cultivating olives in Potohar districts. He said that under five-year project (2015-2020) farmers interested in olive cultivation in districts Chakwal, Jhelum, Attock, Rawalpindi and Khushab would be given Rs 2 million aimed at promoting Olive sowing in these areas and to minimize the import of edible oil. Farmers of Potohar districts who were interested in getting olive plants should submit their applications in BARI till November 30, he added.

He further said the month of September was suitable for Olive sowing and growers while planting new saplings of Olive should keep a distance of 20 feet between linings.

Farmers must water the crop keeping in view the weather conditions, he added.

PARC, LZU to ink MoU for

collaboration in agri research

ISLAMABAD (APP): Pakistan Agriculture Research Council and Lanzhou University (LZU) would sign a Memorandum of Understanding (MoU) on of Pakistan emerging all-rounder Imad Wasim in his team’s narrow win. “Imad played smartly and tactically under pressure, scoring a vital 19 runs and grabbing career-best four wickets for 11 runs,” Aamir Sohail told APP on Monday. “Pakistan was under pressure after top-order batting failure. But Imad stood firm after team was struggling at 85-5 when he arrived at the crease. He recalled that Imad also hoisted a match winning six against Sri Lanka in a tight situation to guide Pakistan to sensational victory.

“Imad is great addition to Pakistan team and he had proved his potential,” Aamir remarked.

However, Aamir said he was apprehensive of poor show by team’s top order batting.

Ramiz Raja also complimented Imad for providing Pakistan team’s saviour with bat and ball.

“Imad exhibited great talent which was heartening for Pakistan cricket,” he said. Sadiq Muhammad said he was surprised with Pakistan poor batting as they were restricted to a modest total of 136.

He credited Imad for saving the day for Pakistan with mercurial display with the bat and left arm spin bowling.

“It was incredible performance by Imad after chips were down and Pakistan was facing huge challenge to defend a small total,” former left handed opener said.

He also surprised to see captain Shahid Afridi coming so late to bat when team needed rapid-fire knock from him.

Sadiq said, Zimbabwe is not a very highly rated team in T20. But they gave Pakistan rough and tough time.

He said opener Ahmed Shahzad, Mukhtar Ahmed, Sohaib Maqsood - all let the team down with irresponsible shots.

“Openers must learn to stay at the crease for the first six overs,” he said.

Sadiq Muhammad said newly inducted left arm paceman Imran Khan Junior wasn’t too impressive.

“His action and delivery stride was very erotic and his selection was hasty. Lets groom Imran with Pakistan “A” team,” he added.

FPCCI ready to facilitate

telecom industry

ISLAMABAD (APP): Federation of Pakistan Chamber of Commerce and Industry (FPCCI) is ready to facilitate Information and Telecom Industry. This was stated by Ikram Rajput, Vice President FPCCI and Incharge Sindh region while presiding the meeting of Standing Committee with the various representatives of Information and Telecom sector at Federation House in Karachi, a statement said issued here on Monday. The meeting was attended by Shahid Javed Qureshi Chairman Standing Committee on Information, Sajjad Shabir Mangrio Regional Director Central Asia Yahsat, Najat Khalid Abdul Rehman Executive Director Yahsat, Zeeshan Effendi Project Director Clicksat & various prominent members of Business Community.

On this occasion Ikram Rajput said that the FPCCI would soon arrange the Seminar and workshop under Hyderabad Chambers of Commerce to create awareness among business community regarding communication and telecom industry.

A detailed presentation was also given by the various representatives pertaining to Information and Telecom sector.

World oil prices drop with

China, US in focus

LONDON (AFP): Oil prices fell Monday in the wake of further disappointing data out of China, a key consumer of commodities. US benchmark West Texas Intermediate for delivery in November dropped 89 cents to $44.81 a barrel compared with Friday's close. Brent North Sea crude for November slid 90 cents to stand at $47.71 a barrel around midday in London. Profits at China's major industrial companies saw their biggest declines in four years last month, official data showed Monday, the latest sign of weakness in the world's second-largest economy. Focus this week "is likely to remain on China... and on the US ahead of the employment report on Friday", Capital Economics said in a market commentary.

US jobs data could determine whether the Federal Reserve starts to raise interest rates this year.

Higher borrowing costs would likely boost the dollar, making commodities such as oil more expensive for holders of rival currencies, further hitting demand.

Oil prices are under pressure also owing to the prospect of Iranian crude returning to an oversupplied global market following a landmark nuclear deal with major world powers reached in July.

Under the agreement, the West will lift crippling economic sanctions if Iran curbs its nuclear ambitions, allowing the country to increase its oil exports. Tehran has denied Western claims it is aiming to build an atomic bomb.

Lahore Stock Exchange down

by 44.44 points

LAHORE (APP): Lahore Stock Exchange here Monday witnessed bearish trend by loosing 44.44 points, as the LSE Index-25 opened with 5501.70 points and closed at 5457.26 points. The market’s overall situation also did not correspond to an upward trend as it remained at 399,100 shares to close against previous turnover of 436,200 shares, showing a downward slide of 37,100 shares. While, out of the total 62 active scrips, 7 moved up, 17 shed values and 38 remained equal. The Major Gainers of the day were Hascol Petroleum Limited, Tariq Glass Industries Limited and Mari Petroleum Company by recording increase in their per share value by Rs 2.56, Rs 1.78 and Rs 1.50 respectively.

Fauji Fertilizer Company Limited, Byco Petroleum Limited and and Dewan Cement Limited (Pak) lost their per share value by Rs 1.10, Rs 1.02 and Re 0.95 respectively.

Top three Volume Leaders of the day included Pervez Ahmed Securities with 90,000 shares, Fauji Cement Company Limited with 71,000 shares and The Bank of Punjab Limited with 65,500 shares.