Terrorists
raid police training centre in Quetta:
Gunmen
stormed a police training centre in Sariab Road Monday, leaving at least 22
people wounded, hours after another attack killed two customs officers and
wounded a third, authorities said. No one immediately claimed responsibility
for either attack. In Monday night's attack, between four and six gunmen
attempted to enter the hostel of a police training centre in a suburban area of
Quetta. Authorities said eight trainees were wounded by gunshot, two of whom
were in critical condition. The remaining six were injured when jumping off a
roof and climbing a wall.
US
crude slides 2pc to below $50:
il
prices fell as much as 2 per cent on Monday on news of the impending restart of
Britain’s Buzzard oilfield, and US crude slid below $50 per barrel, which
triggered technical selling. Earlier, oil was pressured by news that Iraq
wanted to be exempt from a production cut by the Organisation of the Petroleum
Exporting Countries (Opec). Buzzard, the North Sea field that contributes to
the Forties crude stream and which pumps about 180,000 barrels per day (bpd),
will restart on Tuesday or Wednesday, from a month-long planned maintenance, an
industry source said. The Forties stream influences pricing for international
crude benchmark Brent.
Regulatory
framework for insurance sector discussed:
The
Securities and Exchange Commission of Pakistan(SECP) on Monday organised a
round-table on proposed reforms in the insurance regulatory framework. The
representatives of insurance companies, insurance brokers, associations of
insurance surveyors, Pakistan Society of Actuaries(PSA) and the Institute of
Chartered Accountants of Pakistan(ICAP) attended the roundtable, said a
statement. Chairman of the sub-committee on insurance, Farrukh Rehman and an
ICAP Council Member, emphasized the need for upgrading insurance law to bring
it in line with the best international practices.
PSO
to introduce better-quality diesel in January:
Pakistan
State Oil (PSO), the market leader in fuel sales, will introduce an
environment-friendly diesel in January to allow motorists to have a better
driving experience across the country. “Sulphur content in the new diesel
quality will be 90% lower than at present,” PSO Managing Director Sheikh
Imranul Haque told The Express Tribune, adding the better-quality diesel would
carry 500 parts per million (ppm) sulphur content against 5,000 ppm in the
diesel currently available at fuel outlets.
Govt
likely to allow export of 0.8m tons of urea:
The
government is expected to permit export of 800,000 tons of urea in line with a
proposal of the Ministry of Industries because of surplus production in the
country. “The Economic Coordination Committee (ECC) of the cabinet may take up
the export proposal in the current week,” a senior government official said.
Finance Minister Mohammad Ishaq Dar had chaired a meeting last week that
reviewed the fertiliser stock position for the current crop-sowing season. He
was briefed on the production and inventory levels and agreed in principle on
urea exports because of surplus commodity in the country.
Textile
industry’s revival: Bailout package worth Rs175 billion prepared
Prime
Minister Nawaz Sharif will soon take a decision on a huge bailout package of
over Rs175 billion for the textile industry aimed at supporting the exporters
of textile products. A source in the Ministry of Textile Industry told The
Express Tribune that a comprehensive bailout package had been finalised and
sent to the prime minister for final approval for support of the textile
sector, which accounts for more than 60% of the
country’s total exports.
The textile package was prepared keeping in view the country’s overall falling
exports, which dropped to $20 billion from $24 billion within two years with a
major decline in shipments of textile products.
At present, the higher cost of
production and lack of modernisation are the key factors behind the reduced
demand for Pakistan’s textiles in foreign markets. India, Bangladesh and some
other countries are rapidly filling the gap due to their low cost of
production.
No comments:
Post a Comment