Pakistan Targets $210 Million Through Kinnow Exports This Season

The All Pakistan Fruit & Vegetable Exporters Association (PFVA) has set an export target of kinnows at 350,000 metric tons that will generate $210 million in revenue.

The export of kinnows commenced from 1 December 2020 and is expected to fetch a valuable foreign exchange of $210 million.

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While the export during the previous season was 300,000 metric tons, a press release issued by the PFVA claims that the total production of kinnows is estimated to be around 2,100,000 tons this year.

According to the Patron-in-Chief of the PFVA, Waheed Ahmed, the total production of kinnows is around 2.1 million metric tons but the production of quality exportable kinnow is far less. Of the total production, 75 percent production consists of grades B and C kinnow that are not worth exporting.

Export target of #Kinnow set at 350000 tons, Revenue generation of US$210 million expected, total production around 2.1 million M tons, Exportable volume will be lower, Kinnow industry of Rs.125 billion engulfed with stiff challenges, Exploration of new varieties imminent 1/2 pic.twitter.com/6HlWtvYEov

— Waheed Ahmed (@waheedAmed) December 2, 2020

Ahmed revealed that the kinnow orchards are sixty years old and are susceptible to various diseases.

The Pakistani kinnow suffers from the common diseases of blemishes and melanoses that badly affect its cosmetic look which is why the PFVA had imposed a ‘self-ban’ on the export of kinnows to Europe for several years to avoid interceptions that are likely to lead to a ban by the European Union (EU).

“It is being witnessed that due to the global pandemic of coronavirus the demand for citrus fruits containing vitamin C is increasing in the international markets, and Pakistan, being a prominent producer of citrus fruits, can take full advantage of this unique opportunity. However, due to the quality issues of kinnows, we have been unable to exploit such opportunities to our advantage,” Ahmed revealed.

He also insisted that the overall export of citrus fruits and value-added products can be enhanced to $1 billion in a period of five years, but to attain this, it is imperative to explore new varieties of the citrus fruits that are impervious to diseases and to establish new orchards that have a higher yield per acre through extensive research and development (R&D).

“It is ironic that the province of Punjab, being a hub of kinnow production, could not draw the attention of the provincial government, and similarly, the federal government, using the plea of the 18th Amendment, kept ignoring the issues of the kinnow industry that it has been confronted with for the last several years,” he added.

The Patron-in-Chief revealed that the kinnow industry is worth around Rs. 125 billion, and that the entire economies of Bhalwal and Sargodha depend on the kinnow industry while about 250 kinnow processing factories located in Punjab are providing direct employment to 250,000 people.

The future of the kinnow industry will be bleak unless new orchards are developed with new varieties of the kinnow.

With the total production of around 2.1 million metric tons, the export target of kinnows is set at 350,000 tons with an expected revenue generation of $ 210 million expected. Additionally, the exportable volume will be lower as the kinnow industry of Rs.125 billion is engulfed in stiff challenges, and can be remedied by the exploration of new varieties imminent.

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According to Waheed Ahmed, he had held meetings with the provincial Minister for Agriculture, the Governor of the Punjab, and the growers, exporters, and stakeholders associated with the kinnow industry and the horticulture sector prior to the commencement of the current kinnow season to apprise them of the need to resolve the issues of the industry via the adoption of a national strategy.

The PFVA meticulously planned to conduct a national conference on kinnows, keeping in view the issues and realistic solutions of the industry but it could not be held on 1 December due to the new wave of coronavirus and other unavoidable circumstances in the country.

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Mercedes Benz Teases New EQC 4×4 Squared Concept the World Has Been Waiting For

The Electric Vehicle (EV) sector is all the rage these days, with some exciting new prospects lined-up to make their global debut within the next few months. Some new on-road passenger cars and a few vehicles in the SUV and truck segments like the Hummer are also poised to make waves in the market.

One of these heavy hitters is the new Mercedes-Benz EQC 4×4 Squared.

The EQC is Mercedes-Benz’s first fully-electric crossover SUV that will be launched for the masses next year. It is one of the most highly anticipated vehicles in the international market and promises to feature the most modern tech ever installed in an EV.

Although the standard EQC is a graceful-looking crossover SUV, Mercedes-Benz has added a little dash of off-road madness to the original and has teased the 4×4 Squared concept of the vehicle to the enthusiasts.

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The EQC concept reportedly stands even higher off the ground than a standard Mercedes-Benz G-Wagon, which is a staple in the off-road SUV segment. It has a better approach and departure angles, a roof rack, fender flares, and a tow hitch, which further emphasizes that it is a proper off-roader.

Furthermore, the EQC 4×4 Squared concept is based on an all-wheel-drive EQC400, which means that it generates 402 horsepower from its two electric motors. The vehicle is also fitted with portal axles. These portal axles enable the wheels of the vehicle to sit below the center of the axle. further enhancing its off-road capabilities.

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Also, the concept features a new Off-Road drive mode that Mercedes-Benz has named “targeted brake interventions,” which allows the EQC to apply linear torque across the power-band to improve traction when on a loose surface.

Although the automaker seems to have put a significant amount of effort and resources into building the full metal concept, the report also suggests that it has no plans of launching the SUV anytime soon. However, with this concept, Mercedes-Benz has offered an interesting insight into its ability to create a powerful, imposing, hyper-capable, fun, and environmentally friendly SUV that can be everything to everyone.

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Apple Announces RED Products to Donate Funds For Fighting COVID-19

Yesterday, in its efforts to help the world grapple with the coronavirus induced COVID-19 pandemic, Apple revamped its homepage by turning it positively RED. Cupertino’s RED product lineup has been a source of collecting donations for different causes in the past.

This time, the company has redirected the lineup to help gather relief funds for the COVID-19 pandemic. After revamping the website, the company has announced that proceeds of (RED) devices and accessories will be redirected to the “Global Fund’s COVID-19 Response”. All funds gathered starting now through June 30, 100% of “eligible proceeds” from (RED) products will go to this Global Fund.

On the website, the company detailed,

This color makes a difference. Choose (RED). Save lives. For 14 years, our partnership with (RED) has led to almost $250 million in donations to fund HIV/AIDS treatment programs. Now through June 30, Apple is working with (RED) to redirect 100 percent of eligible proceeds from (PRODUCT)RED purchases to the Global Fund’s COVID‑19 Response. This will provide critical support to health systems most threatened by the outbreak and, in turn, help preserve lifesaving HIV/AIDS programs in sub-Saharan Africa.

Apple’s homepage features the following devices:

iPhone 12, 12 mini
iPhone 11
iPhone XR
iPhone SE (2020)
iPhone 12/12 Pro and iPhone 12 Pro Max leather cases
Apple Watch Series 6

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Dawid Malan Leaves Babar Azam Far Behind in T20I and All-Time Rankings

Dawid Malan has attained the highest-ever rating points for batsmen in the ICC Men’s T20I Player Rankings after a terrific run saw him top the series aggregate with 173 runs and help England blank South Africa 3-0. Babar Azam is third on the list of highest-ever rating points for a batsman in T20I cricket.

The 33-year-old left-hander has reached 915 points, the first to cross the 900-point mark after Australian Aaron Finch’s 900-point achievement in July 2018. Malan now enjoys a 44-point lead over Pakistan’s Babar Azam, whom he overtook to become number one in September this year.

Malan’s player of the series performance included a match-winning 99 not out in the final match and helped England leapfrog Australia to take the top position in the ICC Men’s T20I Team Rankings.

England, who had started the series at 271 points, are now level with Australia at 275 points but ahead on decimal points. South Africa and New Zealand retain their fifth and sixth positions while the West Indies have slipped behind Afghanistan to 10th place after losing 2-0 to New Zealand in another series, performances of which are also included in Wednesday’s rankings update.

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South Africa’s Rassie van der Dussen’s continued good form, which saw him score 136 runs in the series, has lifted him 17 places to a career-best fifth position.

Among the bowlers, England’s leg-spinner, Adil Rashid, is back to the 700-point mark, gaining three places to reach number 4. He is just one spot below his career-best third position achieved in November 2018. The top seven bowlers are all spinners, with Tabraiz Shamsi, South Africa’s top-ranked bowler in 5th place.

Chris Jordan, who became England’s leading T20I wicket-taker in the third match against South Africa with his 66th wicket, has gained one place to reach 12th rank.

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Top 10 T20I Batsmen

Rank
(+/-)
Player
Team
Pts
Avge
S/R
Highest Rating

1
(-)
Dawid Malan
England
915
53.43
149
915 v SA at Cape Town 2020

2
(-)
Babar Azam
Pakistan
871
50.93
130
896 v ENG at Cardiff 2019

3
(-)
Aaron Finch
Australia
835
38.43
155
901 v Zim at Harare 2018

4
(-)
KL Rahul
India
824
45.65
146
854 v Eng at Old Trafford 2018

5
(+)
Rassie van der Dussen
South Africa
744*!
38.71
137
744 v Eng at Cape Town 2020

6
(-)
Colin Munro
New Zealand
739
31.34
156
830 v Pak at Dubai 2018

7
(-)
Glenn Maxwell
Australia
696
33.52
158
838 v SL at Adelaide 2019

8
(-)
Hazratullah Zazai
Afghanistan
676*
40.71
155
736 v WI at Lucknow 2019

9
(-)
Virat Kohli
India
673
50.80
138
897 v Eng at Edgbaston 2014

10
(-)
Eoin Morgan
England
662
30.37
139
872 v India at Old Trafford 2011

10
(+)
Rohit Sharma
India
662
32.62
139
719 v WI at Lucknow 208

Top 10 T20I Bowlers

Rank
(+/-)
Player
Team
Pts
Avge
Econ
Highest Rating

1
(-)
Rashid Khan
Afghanistan
736
12.62
6.14
816 v Ban at Dehradun 2018

2
(-)
Mujeeb Ur Rahman
Afghanistan
730
17.72
6.15
745 v Ire at Greater Noida 2020

3
(-)
Ashton Agar
Australia
706
20.86
6.87
717 v Eng at Southampton 2020

4
(+)
Adil Rashid
England
700
25.80
7.52
716 v WI at St Kitts 2019

5
(-)
Tabraiz Shamsi
South Africa
680
33.28
7.68
699 v Eng at Paarl 2020

6
(-)
Adam Zampa
Australia
679
20.86
6.56
720 v SL at Brisbane 2019

7
(-)
Mitchell Santner
New Zealand
643
21.70
7.56
724 v Pak at Wellington 2018

8
(-)
Kane Richardson
Australia
641
25.81
7.69
664 v Eng at Southampton 2020

9
(+)
Imad Wasim
Pakistan
637
21.93
6.13
780 v WI at Trinidad 2017

10
(-)
Sheldon Cottrell
West Indies
634
21.81
7.89
648 v NZ at Auckland 2020

Top 5 T20I All-Rounders

Rank
(+/-)
Player
Team
Pts
Highest Rating

1
(-)
Mohammad Nabi
Afghanistan
294
355 v Ban at Mirpur 2019

2
(-)
Shakib Al Hasan
Bangladesh
268
409 v Pak at Mirpur 2015

3
(-)
Glenn Maxwell
Australia
220
368 v SL at Colombo (RPS) 2016

4
(+1)
Richie Berrington
Scotland
194
204 v Ire at Malahide 2019

5
(-1)
Sean Williams
Zimbabwe
190
225 v Nepal at Singapore 2019

What are your thoughts on the rankings? Let us know in the comments section.

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Honor Delays V40 Series Until January 2021

Huawei’s sub-brand Honor, which has now been sold off to the Chinese government, was expected to launch the V40 series this month. However, recent reports suggest that the company is postponing the launch to January 2021.

We might also see three phones instead of the usual two in the next year’s V series. Rumor has it that there will be a third phone with a super-zoom/periscope lens.

Launching the V40 series will not be a major delay for Honor as the brand launched the V10 and V20 series in December and a global rollout followed a month after. The V30 series was a bit different from the rest as the company did not make an announcement outside of China but silently released it to the international market soon after.

It remains to be seen how Honor will perform in the international market without being a part of Huawei. The Chinese tech giant has a vast and loyal customer base and it is uncertain how new Honor phones will be received in the future.

Details regarding the V40’s specifications are scarce, but it is expected to be an upper mid-range device similar to the last few models in the series.

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Saudi Researchers Invent Artificial Skin That Can Replace Human Skin

Saudi scientists have made a significant breakthrough in the field of biotechnology. According to reports, the scientists have created a new artificial skin. This artificial skin is not only durable and flexible but also sensitive to touch and other necessary human elements of responsivity.

Scientists have created a unique sensitive skin that can be used in artificial organs, and its feature of automatic repair is an exciting new prospect. Notable scientists have labeled it the ‘electronic skin.’

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Researcher Dr. Yichen Cai, who contributed to the invention, said,

The ideal e-skin will mimic the many natural functions of human skin, such as sensing temperature and touch, accurately and in real-time. However, making suitably flexible electronics that can perform such delicate tasks while also enduring the bumps and scrapes of everyday life is challenging, and each material involved must be carefully engineered.

This experiment was performed by scientists at the King Abdullah University of Science and Technology in Saudi Arabia.

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Member of International Child Pornography Racket Arrested in Narowal

The Federal Investigation Agency’s (FIA) Cyber Crime Wing has arrested a man from Narowal, Punjab, over his involvement in child pornography.

An FIA team raided his residence in Narowal on a tip-off and arrested the accused identified as Riaz. The team recovered over 600 videos of child abuse from his possession. FIA has sent the offender’s laptop and other gadgets to the Punjab Forensic Laboratory for further investigation.

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According to FIA officials, the suspect was a member of an international child pornography racket. The agency had received evidence against the suspect from the Brazilian government through the Interpol.

A case has been registered against Riaz, and a local court has given him in FIA’s custody for four days. Ironically, the offender has a clean record, with no cases registered against him in the city.

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The development occurred days after Rawalpindi court awarded the death sentence to Sohail Ayaz, a leader of an international child pornographic racket on the dark web.

In 2015, police exposed a child abuse ring in Kasur, Punjab. Investigations revealed that a gang of 25 criminals had made over 400 videos of 280 victims of abuse.

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UK Becomes The First Country To Approve COVID-19 Vaccine Use

British regulator MHRA has reportedly stated the Pfizer/BioNTech vaccine is perfectly safe for public roll-outs next week. Immunity Drives have been scheduled for next week, with the country having ordered 40 million doses for an initial 20 million population group.

According to BBC, the first batch of 10 million doses is expected to arrive in the UK in the next few days. Health Secretary, Matt Hancock, tweeted his acknowledgment of the reports, all the while suggesting consistent usage of face masks and hand sanitizers.

Help is on its way.

The MHRA has formally authorised the Pfizer/BioNTech vaccine for Covid-19.

The NHS stands ready to start vaccinating early next week.

The UK is the first country in the world to have a clinically approved vaccine for supply.

— Matt Hancock (@MattHancock) December 2, 2020

Although vaccination is expected to start, people in the UK have been advised to remain vigilant and follow standard operating procedures to curb any unnecessary spread of the virus.

How Current COVID-19 Vaccines Compare
Apart from the Pfizer/BioNTech vaccine arriving in the UK next week, other vaccine developments have also garnered a lot of attention.

Russia is working on a vaccine they call Sputnik, and the Chinese military has approved the one developed by CanSino Biologics. Both work in a similar way to the Oxford vaccine, pending approval from relevant authorities.

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SBP Issues Revised Rules for Sukuk Against Jinnah International Airport

The State Bank of Pakistan (SBP) has amended the transaction structure to raise funds against Jinnah International Airport (JIAP) under the Government Ijara Sukuk (GIS).

Pursuant to the discontinuation of the Trust Act 1882, “The future issuances of Ijara Sukuk on JIAP Karachi as an underlying asset, and the reopening there against, will be carried out under the revised transaction structure and documentations following the repeal of the Trust Act 1882,” the central bank said in its circular.

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The SBP said that it will conduct an auction through which the Sukuk investors will be identified. Non-competitive bidders may also submit their bid for the Sukuk. The investors will execute the Sukuk subscription undertaking to record the commitments of the Investors to subscribe to the Sukuk to be issued by the Pakistan Domestic Sukuk Company Limited (PDSCL).

Under the Sukuk subscription undertaking, the investors may appoint the PDSCL as their investment agent for the purchase of the assets on their behalf and for the purposes set out in the Sukuk issuance undertaking.

The SBP said that the primary dealers will also sign the subscription undertaking on behalf of the successful non-competitive bidders.

The PDSCL, as the agent of the Investors and the SBP’s Banking Services Corporation, will execute an Agency Agreement whereby the PDSCL will appoint the corporation as its agent to collect proceeds from the investors, collect rentals and other payments due from the government, distribute them to the Investors, and act as reference agent and a registrar for the investors.

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The circular also stated that the documentation for this structure will include a Sukuk subscription and issuance undertaking, a purchase agreement, a title agency agreement, and cost undertaking and rules.

“The Jinnah International Airport Karachi, together with the identified, unencumbered, and undisputed land of the Civil Aviation Authority (CAA) surrounding the airport, identifiable by survey numbers and area, has been identified as the proposed Assets to facilitate the issuance of the GoP Ijara Sukuk,” said the circular.

The Valuation of the Assets is to be carried out by two Pakistan Banks Association (PBA)-approved independent valuators, and the lower of the two valuations will be accepted as the sale price of the Assets.

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Fitch Solutions Predicts Large Contraction in Pakistan’s Refining Output

Pakistan’s extended fight against Covid-19 has triggered larger downside revisions to Fitch Solution’s 2020 downstream forecasts.

Fitch Solutions has revised down Pakistan’s refining output to a larger contraction of -25% in 2020, down from the -16% forecast prior, as current trends of refinery shutdowns and below-optimal run rates look set to be extended as a sharp resurgence in new daily Covid-19 infections in Pakistan has put the brakes on the government’s economic reopening plans after earlier lockdowns.

Following a slight moderation in infection rates in Q3, daily new cases are climbing once again, averaging 1,953 cases in the month of November, the highest since the peak of the outbreaks in June-July.

The economic fallout for Pakistan could prove to be severe and much greater than anticipated, as pressure on the domestic healthcare system mounts. In particular, the lack of Covid-19 testing kits and hospital beds could turn out to be critical, resulting in a more severe build-up in cases, said the report.

The nascent rebound in fuel demand also looks set to hit a roadblock, and remain depressed for longer, as curbs on movement and business operations – which had devolved to ‘micro-clusters’ lockdowns in small localities, risk being re-introduced and expanded.

A -20% decline for the full year is now forecast, down from the previous forecast of -13%. This adds to a growing list of woes for Pakistan’s refiners, many of whom are already struggling to keep afloat due to chronic inefficiencies, inability to match tightening domestic fuel regulations and rising competition from higher quality, competitively-priced import

A meaningful rebound in domestic fuel demand thus may not manifest before 2022, by which Fitch Solutions anticipate infections to slow and working Covid-19 vaccines to be made available.

The economic growth outlook for Pakistan
A subdued economic growth outlook for Pakistan for the next few years offers little in the way of respite. The Fitch Solutions Country Risk team’s real GDP growth forecast for FY2020/2021, even after factoring in base effects, stands at a meagre 0.8%, and could see further downsides, as the recent second wave derail hoped for recoveries in private consumption and investment inflows.

The Pakistan government’s ability to induce stronger recovery through stimulus measures is limited, due to poor financial health and high debt, added the report.

Looking beyond the current pandemic headwinds, long-term underlying fundamentals in Pakistan’s fuel market are turning more bearish. From a growth potential standpoint, Pakistan remains an excellent prospect, due to a large population and an under-supplied consumer base, said Fitch.

However, barring the one-off surge forecast in 2022 to account for the rebound from Covid-19, annual expansions in fuel demand over the next five years will be relatively measured, underperforming less populous regional markets such as Malaysia, Myanmar, the Philippines and Vietnam, as demand growth encounters a few variables.

Pakistan Yet To Realize Full Potential

First is the discrepancy between the government’s efforts to tighten domestic fuel regulations, and the inabilities of domestic refiners’ inabilities to meet them. The government has introduced measures to ban imports of below-Euro 5 gasoline and diesel from January 2021, before making the full transition to Euro 5 fuels by 2025.

Existing refineries are not able to meet this standard, let alone consistently producing fuels capable of meeting Euro 2 standards. This would force fuel distributors and consumers to become more heavily tied to imported fuels, which are of higher quality but more exposed to international price swings, said Fitch

Second is the growing risks in construction. The slowdown in Chinese investments during the pandemic has slowed activities within the sector to a crawl. And while wearing off of pandemic effects would see halted activities resumed, the medium-term outlook for infrastructure-related investments, particularly those associated with the China-Pakistan Economic Corridor (CPEC), has also become more uncertain, as stiffer market conditions force Chinese companies to be warier of the high above ground risks prevalent in Pakistan before choosing to invest.

A continuous stream of capital inflows
Fitch Solutions in its report said that China continues to be keen on Pakistan as a key investment destination and this will ensure a continuous stream of capital inflows, particularly as it pushes forward its Belt and Road (BRI) initiative throughout the region. However, long-term ability to fund projects could come under pressure over time, as economic headwinds accrue in China, it warned.

Fuel Mix
The consumption of high sulphur fuel oil (HSFO), roughly about 25% of the fuel mix, risks being rendered obsolete as the fuel loses its place in power generation, so as to accommodate LNG, and also in shipping due to stricter international emissions rules such as IMO 2020.

A bright spot in the fuel market has been LPG due to its growing role as a heating and cooking fuel for the rural base, although moving forward, a growing percentage of it will need to be sourced from imports, as domestic gas production declines and existing refineries struggle to iron out mounting financial, operational constraints, added the report.

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