Reduced gas supply impacted fertilizer sector

STAFF REPORT IBD: Gas curtailment caused by the flagrant violation of the contractual obligations by SNGPL has severely impacted the operations of the fertilizer business in Pakistan. Due to this negative situation, the Engro Corporation Limited made a net loss of Rs 2,978 million during the nine months of 2012 as compared to the net profit of Rs 3,510 million during the same period last year.This was disclosed at a meeting of Board of Directors of the company here last week. The loss is

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IT-the most promising sector in Pakistan

Via Pakonomy.ComIT SECTOR has been amazingly widespread in recent years around the world, and has seen a prolific growth in its industry in Pakistan. No doubt that IT sector is in its early years in Pakistan and has yet not reached its full maturity, however a closer scrutiny will expose the benefits this sector has and can ripe for the bright future of Pakistan. The Ministry of Information Technology under the Government of Pakistan is in command of managing and regulating this industry.

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Livestock sector in Pakistan: Recent trends and progress

Farhan Ali and Dr M Jassar AftabLIVESTOCK SECTOR occupies a unique position in the socio-economic development of Pakistan. It also plays an important role in the rural economy as supplementing family incomes and generating gainful employment in the rural population, particularly among the landless labourers, small and marginal farmers and women. About 30-35 million rural population is engaged in livestock raising, having household holdings of 2-3 cattle/buffalo and 5-6 sheep/goat per family

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Hard times a blessing for Pak IT sector: Farooq Sik and er

Farooq Hasan Sikander carries with him 31 years of successful experience providing fiscal, strategic and operations leadership in uniquely challenging situations. Presently, he has been appointed as Chief Executive, Hascombe Business Solutions (Pvt) Ltd. He is dynamic results-oriented leader and possesses superior interpersonal skills and capable of resolving complex business issues. Ha has also worked as Chief Operating Officer, CubeXS Weatherly Pvt Ltd, Karachi. He is the recipient of a number

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Multiple concerns on stagnant IT and telecom sector

PAKISTAN WITNESSED a high boom in its IT and Telecom sector from 2001 to 2005 with remarkable investments to the tune of Rs 9 billion mainly due to the successful implementation of reforms in the country. No doubt that Pakistan had secured the top notch among the South Asian states in terms of growth rate in addition to production of highly skilled manpower and availability of IT and telecom services on comparatively cheaper charges in the world market. However, since the last couple of years

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Balochistan farm sector declining

STAFF REPORT IBD: Farmers are regularly losing billions of rupees especially in Balochistan mainly due to the rising input costs which is causing decline in agriculture output by 50 per cent."The Balochistan’s agriculture sector was in decline because of energy costs rising, leading many to abandon the sector altogether," said spokesperson of the Falahi Anjuman Wholesale Vegetable Market, Shaikh Waqar Ahmed.He said that Balochistan has seen a rising trend of imports as domestic

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Pak farming getting benefits of telecom sector

STAFF REPORT IBD: PTA Chairman Dr. Mohammed Yaseen has said that Pakistan telecom sector is considered as an exemplary growth model around the globe and our agriculture sector can also be a model by adopting telecom and getting its benefits. Today, we have total teledensity of over 72 per cent with 119.9 million mobile subscribers.He said this at a workshop on "What Can Telecommunications Do for Agriculture" recently arranged by the PTA here in collaboration with LIRNEasia, a regional

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Gas diversion to power sector halts urea production

STAFF REPORT KHI: Gas supply to the Fauji Fertilizer Bin Qasim Limited (FFBL) remained suspended even after the passage of about ten days for which the company had to shut down its Urea plant, whereas its DAP plant continued to operate due to its lower gas requirements.According to an official, the government had decided to curtail FFBL’s gas for 3 days on rotational basis; consequently the company’s gas would be fully restored by June 23, yet the situation persists.Clarity is yet to emerge

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ICT role in SME sector growth

THERE IS hardly any iota of doubt that Information and Communications Technology (ICT) has a key role to play in driving innovation and competitiveness for small businesses and the IT sector itself. But at the same time equipping the labour force with the right skills and providing access to high-tech infrastructure are still major grey areas especially in Pakistan that need a serious review to fully tap the ICT potential. Though presently, huge investments have been made on ICT especially in

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Telecom sector to remain heavy tax payer

STAFF REPORT KHI: Telecommunications is amongst the most heavily-taxed sectors in Pakistan. The telecom operators have long been lobbying the government for a reduction in the GST rate of 19.5 per cent, which is collected in FED mode. The federal budget for next fiscal year did offer tax relief to a number of sectors and industries, but the telecom subscribers seem to be left out again for any respite.According to a market expert, the telecom subscribers lose nearly a third of their pre-paid

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Telecom sector revenue swells over to Rs 197b

STAFF REPORT IBD: Half yearly revenues of the telecom sector have reached all-time high of Rs 197.68 billion during the first half (July-December 2011) of current financial year. The second quarter revenues for telecom sector stood at 99.4 billion, that’s all time high in a quarter, registering a growth of 9.1 percent over the corresponding quarter in previous year.The statistics of PTA show that this growth in telecom revenues, despite declining ARPUs and stiff competition, is due to higher

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Pakistan back-paddling on nano-technology sector

STAFF REPORT IBD: The sitting government though apparently claims to be serious towards achieving progress in science and technology and claims to have allocated or spent billions of rupees on a number of projects in this vital field which can guarantee the country’s very survival, however, certain projects of the same nature have been shelved eating up a huge chunk of budgetary allocations mainly due to the negligence of government authorities or the project executives that had lacked ability

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Farm sector lacks efficiency, global competitiveness

STAFF REPORT IBD: Despite having immense potential, the agriculture sector of Pakistan lacks efficiency and global competitiveness, causing dent to self-sufficiency in production of various farm produces, said Asad Umar, Chairman Pakistan Business Council while speaking to members of Agricultural Journalists’ Association (AJA).In his presentation on ‘Agriculture – a mainstay of Pakistan’s economy’ Asad Umar said that production of various farm products has been as low as 90 per cent if compared

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Pak horticulture sector needs a quality boost

STAFF REPORT IBD: Pakistani agriculture products are the best in the world, yet the sector has not excelled to its true potential. The focus of untrained people in the horticulture field has been on increasing production, rather than on improving the quality of the product."This is a big loss – roughly 30 per cent of Pakistan’s total vegetable production and about 40 per cent of fruits are being wasted," said CEO Harvest Trading and Member Export Islamabad Chamber of Commerce and

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WWBL enters Pak banking sector

STAFF REPORT LHR: Waseela Microfinance Bank Limited (WMBL) has started its operations in Pakistan with the opening of its first branch in Islamabad.The Bank has been established to cater the need for banking and financial services that are simple and easily accessible for the unbanked and under-banked. WMBL will also introduce mass market financial products for providing more choices and benefits to the people of Pakistan.Speaking at the inauguration, Ghazanfar Azzam, President and CEO, Waseela

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Agri sector gives boost to economy: SBP

STAFF REPORT IBD: The economy has shown modest improvements in first six months (July-December) of fiscal year 2011-12 because of the better performance of the agricultural sector, says the State Bank of Pakistan (SBP) in its second-quarter report on the state of economy.However, ample availability of key staple crops and less-than-anticipated supply disruption due to the floods helped contain inflationary pressures in July-December of FY12.According to the report, developments in the first half

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Pakistan rich in engineering sector

STAFF REPORT IBD: Pakistan offers diverse experiences and opportunities for engineers sector as the country has a range of industrial activities from oil and gas to textiles, sugar, infrastructure etc which not many countries can offer.Ali Hamdani, Managing Director and CEO Siemens Pakistan, said this speaking as the chief guest at the recently concluded 27th Multi-Topic Symposium organized by the Institution of Electrical and Electronics Engineers Karachi.He said Pakistani human resources are

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