China-Pakistan Free Trade Agreement negotiations conclude
The eighth round of China-Pakistan Free Trade Agreement negotiations finally concluded on a positive note, as the breakthrough in talks ended a two-and-a-half year stalemate. The second phase of negotiation which began on Sept 14 in Beijing, was attended by co-chairman Mohammad Younus Dagha, Secretary Commerce, Pakistan and Wang Shouwen, Vice Minister for Commerce, China. Pakistan requested for meaningful market access and an end to the preference erosion of Pakistani exports in the meeting. During the rounds, Pakistan shared a list of 70 high-priority items of export interest, seeking immediate market access. The Chinese officials agreed to consider the request favourably. These tariff lines constitute more than 80% of Pakistan’s current exports to China. The Chinese delegation consisted of representatives of seven government ministries and departments. Ambassador of Pakistan to China Masood Khalid was also present during the negotiations.
PARC starts campaign to promote hybrid rice cultivation
Pakistan Agriculture Research Council (PARC) in collaboration with Chinese hybrid rice seeds research organization has initiated a campaign to promote hybrid seed cultivation across the crop growing areas of the country. The main aim of this joint initiative was to enhance per acre crop productivity, increase profitability and produce surplus commodity for exports enhancement. Both Pakistan and China have decided to work together for conducting joint awareness programmes to adopt hybrid rice seeds. The Chinese scientists are scheduled to train 30 Pakistani agriculture scientists, selected from all the four provinces.
Punjab agriculture Department urges farmers to cultivate Canola crop
Punjab Agriculture Department has urged the farmers to cultivate Canola crop as it is highly profitable. Pakistan spends huge amounts on the import of cooking oil and the increase of Canola produce would surely help lowering import bills and meeting local demands. Naveed Asmat Kohloon, assistant director agriculture information in a press statement stated the Punjab government was providing Rs 5000 subsidy on per bag of Canola seeds with an objective to enhance canola yield in the province. The facility is given in line with Khadim-e-Punjab Kissan Package. September is the best month for the cultivation of Canola.
Declining trend in exports has reversed, says Tariq Bajwa
Exports grew 13.2 per cent in the last three months, indicating that their declining trend has finally reversed. State Bank of Pakistan Governor Tariq Bajwa said while addressing a delegation of the Pakistan Business Council said major external indicators were positive in the first two months of 2017-18. The governor said the pace of expansion in the economy accelerated for the third consecutive year in 2016-17 amid an improving security situation and better energy supplies. The economy grew 5.3pc in 2016-17 compared to 4.6pc in the preceding year. Bajwa pointed out that the accommodative monetary policy has played a key role in boosting private-sector credit demand.
Three-Day Moot: World Chamber Congress invites SAARC
The World Chamber Congress (WCC) has invited SAARC Chamber to participate in its three-day international flagship moot to be held in Sydney (Australia).The event will start from September 19, with about 12,000 chambers representing more than 100 countries gracing the occasion. SAARC Chamber of Commerce and Industry Vice President Iftikhar Ali Malik in a statement said that it was recognition and acknowledgement of the contributions rendered by the SAARC Chamber. The SAARC Chamber delegation will have direct interaction with worlds’ most prominent leaders and brightest minds to transform the future of business. Prominent speakers will highlight the subject of business, conflict and terrorism, said the SAARC official.
KP Govt to construct CPEC City on Islamabad-Peshawar-Motorway near Swabi
Khyber Pakhtunkhwa government has decided to construct CPEC City on Islamabad-Peshawar-Motorway near Swabi. The government sources told Radio Pakistan Peshawar correspondent that the city will be constructed on eighty thousand kanal land at a cost of over four billion dollars under China-Pakistan Economic Corridor. The CPEC City will consist of education and commercial zones, public buildings, apartments, Golf Course, Theme Park and sports facilities.
Co Host: Zubair