TCP rejects sugar mills stocks after lab tests


STAFF REPORT ISB: The Trading Corporation of Pakistan (TCP) has rejected sugar stocks of two mills as the laboratory tests declared these stocks as "not fit for human consumption."
"After receiving the laboratory reports, overall some 3,280 tons of sugar stocks have been rejected by the state-run grain trader," sources told this scribe. The TCP has also asked the mills to provide fresh stocks as their earlier samples have been found substandard .
However, despite

Read more

Cellcos directed to block all SIMs stocks by Nov 30

STAFF REPORT IBD: The government has recently directed all cellular mobile operators to block all SIM stocks available in the market and hand them over by November 30 this year.No SIM stocks shall be available at any sale point including customers’ service centers, franchises and retailers with effect from December 1, 2012. All cellular firms will allow roaming facility only to registered/verified satellite phones subscribers.In order to formally communicate this directive to the companies,

Read more

Sufficient wheat stocks available

STAFF REPORT KHI: As sufficient wheat stock of over 9.3 million tons is available with the government reserves for domestic consumption as against the normal release of average 6.3 million tons per annum, said an official of the Agriculture Policy Institute."The country is in a comfortable position in terms of wheat production and consumption due to bumper crops achieved during last 4 years," he explained.He informed that during the year 2010-11 about 25.21 million ton wheat were

Read more

Passco selling old wheat stocks

STAFF REPORT LHR: After approval of the Economic Coordination Committee (ECC) to dispose of old wheat stocks, the Pakistan Agriculture Storage and Services Corporation (Passco) has sold 137,000 tons to the millers, says a Passco spokesperson in a statement issued here last week.On March 13, the ECC had allowed Passco to sell wheat stocks of 450,000 tons to local millers. The permission was granted after Passco argued that if it kept the surplus commodity, it would put an extra burden on the

Read more

Passco paying high financing cost of surplus wheat stocks

STAFF REPORT IBD: The Pakistan Agricultural Storage and Services Corporation Limited (Passco) is reportedly paying Rs 13.4 million per day as financing cost on surplus wheat stocks procured at an inflated price as compared to international prices, sources said.Passco argues that early disposal of one million tons of surplus wheat will not only forestall deterioration in the quality of stocks but burden of Rs 4,889.18 per ton on account of storage/financial cost for next year would be eliminated

Read more