Industrialists decry ban on gas supply
Urge federal govt to immediately withdraw decision taken by Power Division
Industrialists have expressed grave concern over the decision taken by the government to cut gas supply to all industrial units from February 2021, terming it a counterproductive move.
In a statement, North Karachi Association of Trade and Industry (NKATI) President Faisal Moiz Khan, while opposing the decision taken by the Power Division, urged the federal government and Minister for Planning, Development and Special Initiatives Asad Umar to immediately withdraw the decision.
Labelling it as unwise and anti-industry move, he requested the government not to make decisions that would hamper production activities, otherwise industrialists would stop relying on government policies and would be reluctant to invest in future.
Sit-ins cause disruption to kinnow export
Exporters unable to send containers to port due to lack of transport vehicles
ISLAMABAD:
As protests and sit-ins continue in different parts of Karachi in the wake of killing of 11 coal miners in Mach, the export of kinnow is facing disruption.
Export of the citrus fruit remained suspended on Friday as some major roads of the city were blocked for the fourth consecutive day. Exporters are likely to face hefty financial losses due to the lack of transport vehicles for carrying kinnow export containers to the seaport, said All Pakistan Fruit and Vegetable Exporters, Importers and Merchants Association (PFVA) Patronin-Chief Waheed Ahmed in remarks to The Express Tribune.
Taking cue from global market, DAP prices jump
Covid-19 disruptions trigger shortage of commodity in world market
Owing to a jump in international price of di-ammonium phosphate (DAP) fertiliser arising from shortage of the commodity amid Covid-19 disruptions, the local price of DAP has increased as well.
“As per our channel checks, Engro Fertilisers has increased DAP prices by Rs400 to Rs4,350 per bag with effect from January 7, 2021 due to a rise in international price of the commodity,” said Topline Securities’ analyst Sunny Kumar in a research report.
The international price of DAP had increased by $35 to $390 per ton in the last two months, Kumar said. “So far, Fauji Fertiliser and Fauji Fertiliser Bin Qasim have not increased their prices but we believe these companies will follow suit.” Rising cost of phosphoric acid coupled with a persistent increase in DAP prices in the global market lifted local prices of urea, said Arif Habib Limited Head of Research Tahir Ab
Cement, steel prices continue to soar
Uptrend hampering recovery of construction activities in country
Given the current jump in demand, the price of coal has jumped to $90 per ton. PHOTO: FILE
Owing to an expected jump in demand for steel and cement around the globe following the invention of Covid-19 vaccines, the uptrend in local prices for the two commodities has accelerated, which is hampering the recovery of construction activities in Pakistan.
Amreli Steels has announced a hike in the price of rebars by Rs5,000 per ton in addition to an increase of Rs5,000 per ton announced earlier during the month, said JS Global analyst Arsalan Ahmed in comments to The Express Tribune.