A well known businessman from Egypt, Mr Naguib Sawiris calls on Prime Minister Muhammad Shehbaz Sharif
Weekly inflation slides down by 0.40 percent
ISLAMABAD DEC 16 (APP)The weekly inflation, measured by Sensitive Price Indicator (SPI), witnessed a decrease of 0.40 percent for combined consumption group during the week ended on December 15, Pakistan Bureau of Statistics (PBS) reported Friday.
The SPI for the week under review in the above-mentioned group was recorded at 217.64 points as compared to 218.51 points during the past week, according to PBS data.
As compared to the corresponding week of last year, the SPI for the combined consumption group in the week under review witnessed an increase of 29.42 percent.
The weekly SPI with base year 2015-16 =100 is covering 17 urban centres and 51 essential items for all expenditure groups.
The SPI for the lowest consumption group up to Rs 17,732 witnessed 0.77 percent decrease and went down to 225.69 points from last week’s 227.45 points.
Meanwhile, the SPI for the consumption groups from Rs 17,732-22,888; Rs 22,889-29,517; Rs 29,518-44,175 and above Rs 44,175 witnessed decrease of 0.65 percent, 0.51 percent, 0.44 percent and 0.29 percent respectively.
During the week, out of 51 items, prices of 22 (43.14%) items increased, 09 (17.65%) items decreased and 20 (39.21%) items remained stable.
The items which recorded decrease in their average prices on a week-on-week (wow) basis included tomatoes (28.71%), potatoes (16.63%), eggs (2.64%), vegetable ghee 1 kg (0.91%), vegetable ghee 2.5 kg (0.65%), pulse masoor (0.61%), pulse mash (0.44%), cooking oil 5 litre (0.32%) and pulse gram (0.22%).
The commodities which recorded increase in their average prices included chicken (5.89%), onions (4.45%), washing soap (2.30%), wheat flour (2.17%), rice basmati broken (2.04%), rice irri-6/9 (1.74%), sugar (1.31%), firewood (1.27%) and salt powdered (1.08%).
On a year-on-year (YoY) basis, the commodities that witnessed a decrease in prices included chillies powdered (40.56%), electricity for q1 (11.81%) and gur (3.42%).
The commodities that witnessed an increase in prices on YOY basis included onions (468.21%), diesel (70.51%), tea lipton (62.61%), petrol (59.27%), eggs (53.77%), salt powdered (53.38%), chicken (52.92%), gents sponge chappal (52.21%), bananas (49.45%), pulse moong (46.71%), pulse gram (44.72%) and mustard oil (41.08%).
Ambassador Extraordinary and Plenipotentiary of the Republic of Kazakhstan to the Islamic republic of Pakistan, Mr.Yerzhan Kistafin addressing inauguration ceremony of the Consulate General of Kazakhstan in Lahore and the celebration of Independence of Kazakhstan.
Speaker National Assembly Raja Parvez Ashraf addressing the inauguration ceremony of the Consulate General of Kazakhstan in Lahore and the celebration of Independence of Kazakhstan.
People’s prosperity, country’s development govt’s top priorities: Musadik Malik
ISLAMABAD, Dec 16 (APP):Minister of State for Petroleum Musadik Malik on Friday reaffirmed that the prosperity of people and the development of country were top priorities of the incumbent government.
All policies of the government were aimed at providing maximum relief to the poor people and creating employment opportunities, which, however, was linked with the growth of gross domestic products (GDP) and running of industries, he said while addressing here a press conference.
The minister said there was dire need of energy for achieving 5-6 per cent GDP growth and for which Prime Minister Shehbaz Sharif had directed to devise a comprehensive development strategy. The new energy policy would be presented in the cabinet for approval, which would also be shared with the media.
He said more gas was provided to the consumers in October, November and December this year so far as compared to the corresponding months of last year despite 10 percent annual depletion in its reserves in the country.
Additional 20,000 to 30,000 tons liquefied petroleum gas (LPG) was being brought in the country every month, he said, adding they were grateful to Qatar for providing one additional cargo in January and February.
He said more LPG distribution points were set up in areas where gas infrastructure was not available.
Musadik Malik said Pakistan was about to sign a trade agreement with Azerbaijan on LNG (liquefied natural gas), which would enhance its capacity to buy any distressed cargo throughout the world at cheap rates.
He said during his recent visit to Russia, it was clearly told that they would provide crude oil to Pakistan on discounted rate or at prices even lower than other countries.
Russia had eight types of crude oil, two of the light ones could be used by refineries in Pakistan, he added.
He said before his Russia’s visit he had met the officials of Pakistani refineries. It was informed that the Pakistan Refinery Ltd (PRL) and Pak-Arab Refinery Limited (PARCO) could refine only two types of the Russian crude oil upto 50 percent and 30 percent respectively, while Cnergyico could use all the eight types.
The supply of Russian crude crude oil at discounted rates would help reduce energy prices in the country, he said, adding Russia would also provide finished products, including petrol and diesel.
He said the TAPI gas pipeline project had also been revived with Turkmenistan for bringing 1.3 billion cubic gas. A special strategic cell had been set up at the ministry that would be responsible for ensuring implementation of any agreements, he said.
The minister said a visit of inter-governmental commission (IGC) led by the Russian energy minister was scheduled for the second week of January. The strategic cell was making efforts to fulfill all requirements before the visit of IGC so that “we can start getting Russian crude oil by the end of first quarter.”
Musadik said Pakistan was also trying to sign a government-to-agreement with the United Arab Emirates, under which it would get finished petroleum products.
To a question about Foreign Minister Bilawal Bhutto Zardari’s press conference a day earlier, he said it was correct that Pakistan was not currently buying any oil from Russia. His ministry would share the details with the Foreign
Mministry to clear confusion, he added.
Pakistan, AJK worst victims of climate change: AJK President
MIRPUR (AJK) Dec 16 (APP): Azad Jammu and Kashmir President Barrister Sultan Mahmood Chaudhry, while terming climate change as a global problem, said on Friday that developing countries including Pakistan were the worst victims of the climatic change.
Addressing a seminar organized by Azad Kashmir Red Cross and German Red Cross in the State metropolis, the AJK President while referring to the devastating floods that wreaked havoc in northern and southern parts of the country said that Pakistan and Azad Kashmir suffered immense losses due to the large-scale floods caused by the climate change this year.
Highlighting the dreadful challenges the people of Pakistan and AJK have been facing, the president said, “We need greater cooperation of the international community, especially global disaster management to tackle these challenges”.
Being an important member of global disaster management, the International Red Cross can be helpful in dealing with natural disasters”, he said.
Referring to the cloudburst that hit the Neelum valley, he said Azad Kashmir has also been affected due to climate change. He said that there was a dire need to intensify our efforts to deal with natural calamities in a timely manner so that the damage caused by natural calamities can be minimized.
Barrister Chaudhry further said that developed countries suffer less from climate change because they have better infrastructure and resources. He appreciated the International Red Cross, for providing full support to the victims of the earthquake in 2005. “I assure the officials of the Red Cross on behalf of the Government of Azad Kashmir that we will provide them all facilities and support”, the President said.
The seminar was also attended and addressed by AJK Senior Minister Khawaja Farooq Ahmed, Chairman Pakistan Red Crescent Society Sardar Shahid Khan Laghari, Head of German Red Cross Asif Rehman and others.
APP / AHR.
Special Assistant to Prime Minister Ata Tarar addressing press conference at PTV HATQ
Minister of State for Petroleum Dr Musadik Malik addressing press conference.
President Dr. Arif Alvi giving away shields to the participants during the launching ceremony of Digital Punjab WEB 3.O organized by the Punjab Information Technology Board (PITB).
