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Food imports reduced by 0.88 % in FY 2022-23

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Food imports reduced by 0.88 % in FY 2022-23

ISLAMABAD, Jul 18 (APP): Food group imports into the country during fiscal year ended on June 30, 2023, decreased by 0.88 percent as compared to the imports of the corresponding period of last year.

During the period from July-June, 2022-23, the country spent $8.936 billion on the import of different food commodities as compared to the imports of $9.016 billion in the same period last year in order to fulfil the local requirements, according to the data of Pakistan Bureau of Statistics.

During the period under review, the imports of milk, cream and milk for infants into the country reduced by 11 percent as it came down from $144.300 million to $162.140 million, whereas the imports of dry fruits and nuts decreased by 38.75 percent as it was recorded at $39.964 million as against the imports of 65.272 million of same period of last year.

The import of tea during the last fiscal year also decreased by 9.13 per cent as it was recorded at $569.043 million as against the imports of $626.185 million of the same period last year.

Meanwhile, the spices imports decreased by 30.04 percent as it was recorded at $151.240 million by end of the fiscal year 2022-23 as compared the imports of $216.183 million in the same period of last year.

However, during the period under review, the imports of food commodities including wheat grew by 34.85 percent as wheat valuing $1.072 billion imported to tackle with the local requirements as against the imports of $795.286 million of same period last year.

Meanwhile, soya bean oil imports into the country also increased by 60.05 percent during the last fiscal year as soya bean valuing $315.540 million imported to fulfill local edible oil and vegetable ghee requirements as compared to the imports of $197.154 million of same period last year.

During the last fiscal year, the exports of food commodities from the country decreased by 7.25 percent as it was recorded at $5.0222 billion as against the exports of $5.415 billion of the corresponding period of last year.

KSrelief sponsors 12 medical camps in Pakistan to combat blindness, eye diseases

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ISLAMABAD, Jul 18 (APP): In a groundbreaking initiative, the King Salman Humanitarian Aid and Relief Centre (KSrelief) has joined forces with Al-Basar International Foundation and Al-Ibrahim Eye Hospital Karachi to sponsor 12 medical camps across Pakistan.

These camps are strategically set up in rural and urban areas of Sindh and Baluchistan Province to combat blindness and eye diseases, addressing regions where eye care services are scarce, said a news release issued here on Tuesday.

The primary objective of this humanitarian outreach program is to detect and address eye-related issues at an early stage, offering specialized treatment to individuals who lack access or cannot afford such facilities.

The impact of this effort has been profound, reaching individuals in various communities of Sindh and Baluchistan provinces.

The medical camps have already made a significant difference, providing more than 50,000 medical examinations, over 5,000 sight-restoring surgeries, and distributing 12,000 glasses for vision correction, in addition to the medications prescribed by doctors.

This initiative ensures that not only do patients receive essential treatment, but they also have access to necessary eyewear, significantly enhancing their visual capabilities.

The outreach program, held in the cities of Karachi, Matli, Kundairo, Shikarpur, Kharan, and Kalat, has allowed thousands of residents from these areas to benefit from specialized eye care services, thus improving their quality of life and providing hope for a brighter future.

This collaborative effort underscores the Kingdom of Saudi Arabia’s commitment to humanitarian causes and its dedication to improving the lives of individuals affected by blindness. Through these medical camps, KSrelief has exemplified its mission of extending a helping hand to those in need, restoring sight, and making a lasting impact on the lives of thousands of patients.

Kerb currency market

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Kerb currency market
File

KARACHI, Jul 18 (APP): Following were the Opening Rates of foreign currencies in kerb market issued by the Forex Association of Pakistan (FAP), here on Tuesday.

F.C. LOW RATE HIGH RATE
U.S $ (Inter Bank) 279.00 281.35
U.S $ (Cash Free Market) 282.00 285.00
SAUDIA RIYAL 75.00 75.80
UAE DIRHAM 77.50 78.30
EURO 316.50 321.50
UK POUND 368.80 373.80
AUD $ 190.50 194.50
CAD $ 213.00 218.00
CHINESE YUAN 41.00 44.00

 

China rolls over another $600 mln loan to Pakistan: PM

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ISLAMABAD, Jul 18 (APP): Prime Minister Shehbaz Sharif informed on Tuesday that the Exim (Export-Import) Bank of the all weather friendly country China had rolled over another US$ 600 million loan to Pakistan helping further increase the country’s foreign exchange reserves.

“Our forex reserves are going up but I wish that these reserves should increase on the back of our own resources rather than the foreign debts,” he said while addressing at a sports initiatives’ launching ceremony here.

The prime minister launched multiple initiatives for promotion of sports culture and welfare of the sportspersons including the Rs 5 billion Pakistan Sports Endowment Fund.

He launched Pakistan Sports Endowment Fund with initial seed money of Rs 5 billion to provide financial assistance and other facilities to the emerging players and retired sportspersons of the country.

The prime minister also performed soft launch of the first dedicated Sports University in the country to produce critical pool required for sports events such as planners, managers, technical staff, nutritionists, physiotherapists and others.

Similarly, PM Shehbaz launched the Prime Minister Youth Sports Initiative to develop sports across the country and to provide world class sports facilities to the youth.

He also launched the Elite Sportspersons Development Programme and E-Sports development programme.

China rolls over another $600 mln loan to Pakistan: PM
Prime Minister Muhammad Shehbaz Sharif together with vetern sportspersons performing the soft launch of Pakistan’s first Sports University in Islamabad on 18 July 2023.

Addressing on the occasion, Shehbaz Sharif said Pakistan’s highly talented sportspersons deserve appreciation from the the nation as despite limited resources, they promote the positive image of the country across the world.

He said out of Rs 5 billion allocated for Pakistan Sports Endowment Fund, a direct investment of Rs 2.5 billion would be made to meet various expenses of the players including tickets, logistics, hotel and other expenses.

He, however said this amount needed to be increased as it was not sufficient to meet the full requirements of the sportspersons.

The prime minister said Pakistan youth was not less talented then the world as if they were fully capable of competing the world.

He said if they were given opportunities, they could lead the world in the area of sports.

On the occasion, he also presented a Rs 5 million cheque to the medal winning Special Olympics Team of Pakistan.

Minister for Inter-provincial coordination Ehsan ur Rehman Mazari said the government took structural changes in the country’s sports to meet the emerging needs of games.

He said during the previous government’s four years, sports were totally ignored but the current government, despite financial constraints took special measures to promote the sports culture.

Special Assistant to Prime Minister on Youth Affairs Shaza Fatima Khawaja said on special directives of the prime minister, several sports’ departments that were closed by the previous government had been restored due to which some 40,000 sportspersons who lost their jobs, had also been restored.

She said out of Rs 5 billion fixed for the Pakistan Sports Endowment Fund, Rs 1 billion would be spent for the establishment of the first dedicated Sports University in the country.

She said during previous one year, talent hunt programme was launched for hockey, volley ball and football in all provinces including AJ&K, and Gilgit Baltistan to provide platform to the youth to show their talent.

Minister for Information Marriyum Aurangzeb, renowned sportspersons and high government officials were also present on the occasion.

Shandong Energy, Huawei jointly launch world’s first commercial large AI model for mining sector

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mining sector

BEIJING, July 18 (APP): Shandong Energy Group (Shandong Energy), Huawei, and Yunding Technology on Tuesday jointly launched the Pangu Mine Model, the world’s first commercial large AI model for the energy sector.

The aim of the model is to enhance the application of AI in the mining industry and transform workshop-scale AI model development to factory-scale development.

Li Wei, Chairman of Shandong Energy while addressing the launching ceremony in Jinan, Shandong Province of China said,”Fellow travelers think alike. As a world-leading ICT infrastructure and smart device provider, Huawei shares Shandong Energy’s goal of digital transformation.

The two companies are complementary to each other and are mutually reinforcing.

“We aim to improve the intelligence level of the mining industry by expanding the depth and breadth of AI application in different scenarios, and continually using AI to deliver more automation, achieve greater efficiency,reduce labor intensity, and improve safety in the mining industry.”

As the pioneers of the world’s first commercial use of large AI models in the energy sector, Shandong Energy, YundingTechnology, and Huawei have begun implementing the first set of AI applications for mining.

These were developed based on the pilot verification of large AI models in industrial production.

There are altogether 21 application scenarios related to operating activities, namely, coal mining, tunneling, primary transportation, auxiliary transportation, lifting, safety monitoring, rock burst prevention, coal preparation, and coking.

Rock bursts are a particularly challenging issue in mining.

The primary means of preventing rock bursts is drilling destress holes, whose quality matters.

Shandong Energy has managed to address this challenge in its Lilou and Xinjulong coalmines by deploying the large AI model.

With its visual recognition capabilities, the model can intelligently analyze the quality of stress relief drilling, and assist rock burst prevention personnel in quality verification, reducing their review workload by 82%.

It used to take three days to complete such checks; now the time has been shortened to 10 minutes, with a 100% acceptance rate.

Shandong Energy, Yunding Technology, and Huawei established a joint innovation center at the beginning of 2022.

To make mines smarter, they introduced the Pangu Model,which features decoupled operation management and intelligent production, in-campus data processing, large-scale replicability, and learning and analysis fromsmall samples.

The joint innovation center’s AI operation system makes use of central training, edge inference, cloud-edge coordination, learning by using, and non-stop optimization.

The center’s AI management system consists of group management and coal mine execution.

The management of coal production was transformed from being reactive and manual-intensive to being proactive and intelligent.

Zou Zhilei, Chairman of Huawei Mine BU, said: “AI will continue to power the upgrading of the mining industry, and play an important role in making coal production safer, greener, and semi- or fully-automated.Huawei will continue to dive deep into industry transformation, and make the powerful capabilities of the Pangu Model available to a wider range of industries.


We will enable partners and work with them to solve industry problems in specific scenarios, creating greater value. The launch of the first commercial Pangu Mine Model has injected new impetus into the high-quality development of the mining industry and the energy sector at large.”

Islamabad Police to implement comprehensive security measures for Muharram-ul-Haram

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ISLAMABAD, Jul 18 (APP): Islamabad police have decided to ensure foolproof security and comprehensive measures for the upcoming Muharram processions in the capital and to protect gatherings through the use of modern surveillance technology.

In a bid to prioritize the safety of citizens during the solemn occasion of Muharram ul Haram, a high-level meeting was convened by the Islamabad Capital Police (ICP).

The meeting aimed to review and bolster security arrangements for the upcoming Muharram processions in the capital. Chaired by CPO/DIG Operations Islamabad, Syed Shehzad Nadeem Bukhari, the gathering involved key officials and representatives, including SSP (Operations), AIG Special Branch, Zonal DPOs, DSP Security, Chairman, members of the peace committee, and organizers.

With a focus on fostering communal harmony and providing fool-proof security for the Majalis and processions, the officials discussed various measures, including the use of modern surveillance technology, strict adherence to designated routes and timings, and stringent participant screening.

CPO/DIG Bukhari emphasized the importance of cooperation between organizers and law enforcement to ensure a peaceful and secure Muharram observance.

By integrating the comprehensive security measures, he said the Islamabad police seek to foster an atmosphere of tranquility and reverence during this significant religious occasion.

Widespread monsoon rains predicted in KP

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PESHAWAR, Jul 18 (APP): The Met Office on Tuesday forecast widespread rains with thunderstorms and strong winds in most parts of Khyber Pakhtunkhwa till July 23 with occasional gaps.

It said that heavy rains might cause urban flooding in low lying areas of Peshawar, Mardan, Swabi, Nowshera, Charsadda, and trigger landslides in the vulnerable areas of Swat, Chitral, Dir, Shangla, Kohistan, Battagram, Torghar, Mansehra, Abbottabad, Kurram and Khyber districts.

The Provincial Disaster Management Authority (PDMA) has instructed all the district administrations to assess and plan deployment of additional resources and exercise control over traffic leading to and in vicinity of the vulnerable, choke points, tourist spots, attractions and securing from loose structure such as buildings under construction to prevent losses and damages and save precious lives.

It further directed the district administration to adopt all precautionary measures to prevent urban flooding and regulate traffic in coordination with law enforcing agencies to protect precious lives.

It also called for availability of emergency services personnel and equipment, Rescue 1122, fire brigade, ambulance, civil defence in areas at high risk of urban flooding, flash flooding, hill torrents and landslides.

It said that the PDMA helpline 1700 would be operational round the clock and any emergency could be reported on this number.

Pakistan exports $16.5 bln textile products in FY23

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ISLAMABAD, Jul 18 (APP): Pakistan earned over $16.50 billion from the exports of various textile products during the fiscal year 2022-23, Pakistan Bureau of Statistics (PBS) reported.
The textile goods’ exports during the same period of last year were recorded at $19.329 billion, showing a decline of 14.63 percent during the fiscal year 2022-23, according to PBS data released here on Tuesday.

The textile products that contributed positively in trade included raw cotton, the exports of which grew by 104.78 percent by growing from $6.577 million during FY 2021-22 to $13.468 million during FY2022-23. tents, canvas and tarpaulin by 24.93 percent, from $110.413 million to $137.944 million, ready-made garments by

The textile goods that witnessed negative growth in trade included cotton yarn, the exports of which declined by 30.04 percent, from $1,206.789 million to $ 844.283 million.

Likewise, cotton cloth decreased by 17.06 percent, from $2,437.875 million to $2,021.999 million, the exports of cotton (carded or combed) declined by 31.72 percent, from $1.631 million to $1.114 million, yarn (other than cotton yarn) by 31.85 percent, from $66.188 million to $45.106 million, knit wear by 13.36 percent, from $5,121.040 million to $4,436.779 million and bed-wear by 18.26 percent from $3,292.882 million to $2,691.648 million.

In addition, the exports of towels also declined by 10.05 percent by going down from $1,111.337 million to $999.594 million, readymade garments by 10.57 percent, from $3,904.654 million to $3,491.948 million, art, silk and synthetic textile by 10.38 percent, from $460.058 million to $412.289 million, madeup article excluding towels by 18.44 percent, from $849.121 million to $692.548 million while the exports of all other textile materials went down by 6.34 percent, from $761.377 million to $713.096 million.

Meanwhile, on year-on-year (YoY) basis, the textile goods’ exports decreased by 13.73 percent in June 2023 to $ 1,471.976 million against exports of $ 1,706.245 million in June 2022.

On month-on-month (MoM) basis the textile goods’ exports however increased by 11.47 percent in June 2023 when compared to the exports of $ 1,320.558 million in May 2023, according to the PBS data.

It is pertinent to mention here that the overall trade deficit witnessed a decline of 43.03 percent during the fiscal year 2022-23 as compared to the previous year (2021-22).

The trade deficit during July-June (2022-23) was recorded at $27.547 billion against the deficit of $48.354 billion in July-June (2021-22), a decline of 43.03 percent.

The exports during the period were recorded at $27.744 billion against $31.782 billion last year, showing a decline of 12.71 percent. On the other hand, the imports witnessed a sharp decline of 31 percent by falling from $80.136 billion last year to $55.291 billion during the fiscal year 2022-23.