Business
Containers pile up over transporters’ strike | The Express Tribune
KARACHI:
The 10-day-long strike by goods transporters has brought import and export activities to a halt, leading to a buildup of imported containers at ports.
However, spokesmen for Karachi Port and Port Qasim have stated that port operations are continuing as normal and there has been no disruption to the arrival and departure of ships.
In contrast, All Pakistan Customs Agents Association Chairman Arshad Khurshid told The Express Tribune that approximately 25,000 imported containers, including edible oil, industrial raw materials and other consumer goods, are awaiting onward transportation to their respective destinations at the two ports.
He added that due to the goods transporters’ strike, around 15,000 containers carrying export goods have failed to reach the ports.
Businessmen Group Chairman Zubair Motiwala said that the strike, now in its 10th day, has pushed the trade and industrial sectors into a distressing situation. He said that normally about 2,000 containers move in and out of the ports daily, but due to the transporters’ strike, 12,000 to 14,000 containers have remained stuck at the ports over the past 10 days.
He added that while production activities in local export industries are continuing, the transportation of finished export goods to the ports has come to a standstill. This has created the risk that if consignments fail to reach overseas buyers within the stipulated time, Pakistani exporters may suffer financial losses.
Motiwala asked the government and goods transporters to show flexibility and play their part in saving the country from an economic crisis, adding that the Karachi Chamber of Commerce and Industry has offered to facilitate dialogue between the relevant parties.
Under the changed system customers collect points rather than reward coupons, with £1 spent equalling one point.
Source link
There have been extra jitters in UK government debt markets ahead of Thursday’s local and national elections.
Source link
Business
Sugarcane price hike: Govt raises FRP to Rs 365/quintal for 2026-27, farmers to benefit from higher returns – The Times of India
The government has increased the fair and remunerative price (FRP) of sugarcane by Rs 10 to Rs 365 per quintal for the 2026-27 season beginning October, PTI reported.The decision was approved by the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi.“The FRP will be Rs 365/quintal for a basic recovery rate of 10.25 per cent,” Union Minister Ashwini Vaishnaw said after the meeting.The revised FRP is 2.81 per cent higher than the current rate of Rs 355 per quintal for the 2025-26 season.For every 0.1 per cent increase in sugar recovery above 10.25 per cent, the FRP will rise by Rs 3.56 per quintal, providing an incentive to mills for higher efficiency.To safeguard farmers supplying to mills with lower recovery rates, the government has decided that there will be no deduction in FRP for recovery below 9.5 per cent. In such cases, farmers will receive Rs 338.3 per quintal in the 2026-27 season.The production cost of sugarcane for 2026-27 has been estimated at Rs 182 per quintal, making the FRP 100.5 per cent higher than the cost.“Farmers are expected to get more than Rs 1 lakh crore,” Vaishnaw said.The move is expected to benefit nearly one crore sugarcane farmers, along with farm labourers and workers engaged in sugar mills.The FRP has been fixed based on recommendations of the Commission for Agricultural Costs and Prices (CACP) and consultations with state governments and stakeholders.The sugar sector supports the livelihoods of around five crore farmers and their families, and about five lakh workers directly employed in sugar mills, besides those involved in related activities such as transportation.Sugar mills are required to purchase sugarcane from farmers at the FRP or higher.Vaishnaw said the FRP has been increased every year over the past decade, and the latest revision will also support ethanol production from surplus sugarcane.On cane dues, he said that in the 2024-25 season, about Rs 1,02,209 crore, or nearly 99.5 per cent, of the total payable dues of Rs 1,02,687 crore had been cleared as of April 20, 2026.For the ongoing 2025-26 season, Rs 99,961 crore, or 88.6 per cent, has been paid out of total dues of Rs 1,12,740 crore.
AS-level Business Studies paper allegedly leaked online
Italy’s Meloni warns over AI deepfakes after false photos circulate
Oprah’s Book Club: Author Douglas Stuart reads “John of John” excerpt
-
Tech1 week agoA Brain Implant for Depression Is About to Be Tested in Humans
-
Sports1 week agoPro wrestling star Steph De Lander reveals how colleague’s advice helped lead her to title triumph at ACW
-
Tech1 week agoAlmost 90% of women leave tech industry within 10 years | Computer Weekly
-
Business1 week ago‘I had £20,000 stolen and had to fight a 13-month fraud reporting rule to get it back’
-
Entertainment1 week agoNorway joins Type 26 Frigate Programme to boost NATO naval power
-
Entertainment1 week agoMelania Trump says ABC should ‘take a stand’ on late-night host Kimmel
-
Tech1 week agoThis Ambitious Laptop Doesn’t Leave Much Room for Your Hands
-
Business6 days agoPSX plunges over 4,800 points | The Express Tribune