Day: March 27, 2023

Pakistan imported spices worth Rs. 3.145 billion in February of the current fiscal year (FY23), up marginally from imports of Rs. 3.107 billion reported in the same month of the previous fiscal year (FY22), according to the data released by the Pakistan Bureau of Statistics (PBS).

In dollar terms, the imports of spices stood at $11.792 million in February, down 33 percent compared to imports of $17.7 million reported in the same month of FY22.

The imports of spices stood at Rs. 23.9 billion in the first eight months (July-February) of the current fiscal year (FY23), down 11 percent compared to imports of Rs. 26.9 billion reported in the same period of the previous fiscal year.

In dollar terms, the imports of spices stood at $104.15 million, down 34 percent compared to imports of $158.5 million reported in the same period of the previous fiscal year.

It is pertinent to mention here though that the country also exported spices worth Rs. 2 billion in February, up 16 percent compared to exports of Rs. 1.78 billion in the same month of FY22.

Source: Pro Pakistani

The shareholders of Reliance Cotton Spinning Mills Limited (RCML) have accorded approval for an investment of up to Rs. 1 billion by way of equity investment in Sapphire Fibres Limited, an associated company.

In a notice to the Pakistan Stock Exchange (PSX), RCML said that the investment would be made through the market purchase of ordinary shares at the prevailing market price on the date of purchase/transaction on such terms and conditions as authorized by the Board of Directors.

The notice further said that the market purchase of shares will be made from time to time over a period of one year.

The notice said that the Chief Executive of the company has been authorized to take all necessary actions which may be required for the purchase of said shares of Sapphire Fibres Limited.

Source: Pro Pakistani

The Economic Coordination Committee (ECC) of the Cabinet on Monday deferred summaries of the Ministry of National Health Services, Regulations, and Coordination on the fixation of maximum retail price (MRP) of 54 new drugs and the increase in prices of 119 drugs.

The committee presided over by Finance Minister Ishaq Dar considered another summary of the ministry for the maximum retail price of Remdesivir 100 mg injection and decided not to increase the price.

The meeting considered and approved a summary of the Ministry of Energy (Petroleum Division) regarding the arrangement of a Finance Facility for funding of Government of Balochistan’s share of obligation in the Reko Diq project dispute settlement with directions to the Finance Division to arrange payment of markup amounting to Rs. 6.23 billion for the period from March 31, 2022, to December 30, 2022, to the National Bank of Pakistan (NBP) for the short term finance facility of Rs. 65 billion.

The ECC also deferred a summary of the Ministry of Aviation on the engagement of the International Finance Corporation as transaction advisor for the outsourcing of three airports.

Federal Minister for Power Khurram Dastgir, Federal Minister for Industries and Production Syed Murtaza Mahmud, Federal Minister for Commerce Syed Naveed Qamar, Minister of State for Finance Dr. Aisha Ghous Pasha, Minister of State for Petroleum Musadik Malik, and former prime minister Shahid Khaqan Abbasi also participated in the meeting.

Source: Pro Pakistani

The National Assembly was informed today that street crimes have witnessed a decline as a result of the establishment of eagle force in the federal capital Islamabad.

Minister of State for Interior Abdul Rehman Khan Kanju told the house while responding to a calling attention notice that the government is determined to provide a safe and secure environment to the residents of Islamabad especially women at public places. He pointed out that one hundred cameras and other necessary facilities have been installed at F-9 Park. He said the number of police stations have also been enhanced in Islamabad. He said it is being ensured that each police station has a female investigation officer in order to encourage women to register their cases.

Source: Radio Pakistan