Though in total 20 medium-sized and 10 large vessels
have been issued licences by the federal government under the Deep Sea
Fishing Policy of 1995 as amended in 2001 but only five have so far
called at the KFH.
The five medium-sized vessels, which began their
operations early last month, have already made one trip by harvesting
around 125 tons of fish catch as against the expected average catch of
around 300 tons. However, Korangi Fisheries Harbour Authority (KFHA)
managing director Iqbal Ahmed Turk told that five other medium-sized
vessels were due by the end of next month, and all these vessels will
only operate and make catch (fish) in an area between 12 to 35 nautical
miles (NM) of the EEC.
The large-sized vessels having 300 to 500 GRT will
operate in zone three of the EEZ of the country i.e. beyond 35NM, and in
case they do not avail of harbour facility and land their catch at the
Karachi Port they will have to pay $3,500 per trip as non-utilization
fee to the KFH. Beside, each vessel will also have to pay one million
rupees per annum towards KFH development fund, which would generate
revenue to the tune of Rs10 million per annum.
Similarly, each medium-sized vessel will have to pay
Rs1.5 million towards port development cess per annum. As a result of
this Korangi harbour would earn Rs30 million per annum from 20 vessels.
The KFHA MD said that the harbour would only become
financially viable if 40 medium-sized vessels were allowed to ply in the
area between 12 and 35 NM, against which only 20 vessels had been given
licences by the government so far.
HARDLY 22PC LOANS GIVEN TO FARMERS
An overwhelming majority of the private commercial
banks inducted during 2001-02 in the credit disbursement to farmers have
shown contemptuous disregard to State Bank of Pakistan's directive and
have given less than 22 per cent of target loans.
Of the 13 private commercial banks, eight banks did
not offer a single rupee loan to the farmers. Only the Bank of Punjab
exceeded its target by about 118 per cent and four other private banks
made just token loaning in the outgoing fiscal.
The eight banks that did not offer a single rupee
farm loan in 01-02 are Bank AL Habib, Bank Al Falah, Faysal Bank,
Metropolitan Bank, Platinum Commercial Bank, Prime Commercial Bank,
Soneri Bank and the Union Bank.
Out of a total loan target of Rs2.5 billion given to
all 13 private banks, the eight banks that did not offer any loan shared
a total target of Rs1,535m.
SUGAR MILLS SEEK EXPORT OF UNSOLD STOCK
Huge unsold stock of white refined sugar are lying
with the sugar mills, and until export outlets are found carryover stock
could create liquidity problems for the crushers.
According to the latest production figures released
by the Pakistan Sugar Mills Association (PSMA), the mills still held an
unsold stock of 1.231 million tons, well above the local consumption
before the next crushing season starting from late October or early
"Even after meeting entire domestic demand till
the start of next season sugar mills will still have huge unsold stock
of around 0.3 million tons," PSMA chairman Ashraf Tabani told.
WATER SUPPLY TO PROVINCES CUT
The Indus River System Authority (Irsa), on an advice
from the Army General Headquarters, has imposed cuts on the supply of
irrigation water to the provinces with a view to replenishing storage at
Tarbela Dam, its reliably learnt.
The water supply to the provinces has been reduced a
second time during the past one week in view of the unexpected shortfall
in the flow of River Indus and the resurrection of El Nino weather
phenomenon — which entails less rains, a highly-placed source at Irsa
said. Chairman Irsa, Noor Muhammad Baloch, confirmed that they had
reduced the water supply to the provinces, saying that "filling of
Tarbela Dam is also a cause for concern to them."
SMEDA, PNAC SIGN MOU
Small and Medium Enterprises Development Authority (Smeda)
and the Pakistan National Accreditation Council (PNAC) have signed a
Memorandum of understanding (MoU) to promote training and awareness for
developing quality control systems for the small and medium enterprises
INDUSTRIALISTS SHIFTING UNITS FROM AJK
Azad Jammu and Kashmir Chamber of Commerce and
Industry (AJKCCI) has urged the AJK government to take immediate action
against those Pakistani industrialists who had or were planning to wind
up their units in Azad Kashmir after enjoying the exemption of different
kind of taxes and duties for five years.
AJKCCI president Zulfiqar Abbasi said such
industrialists were impediment to promotion of industrialization in Azad
Kashmir and were also bringing the liberated territory's business
community into disrepute by exploiting the facilities extended by the
governments of Pakistan and Azad Kashmir.
ADBP TO DISBURSE RS35BN TO FARMERS
The Agricultural Development Bank of Pakistan (ADBP)
will disburse credit worth Rs35 billion to the farmers during 2002-03,
says its chairman Istaqbal Mehdi.
He told on Tuesday that Rs29 billion were disbursed
to the farmers during the last financial year. "We may exceed the
target of Rs35 billion for the current financial year to considerably
help our farmers," he added.