Day: May 29, 2019

  • Engro Fertilizers, DFAT train over  4,000 smallholder farmers

    Engro Fertilizers, DFAT train over 4,000 smallholder farmers

    LAHORE: Engro Fertilizers Limited, Engro Foundation and the Department of Foreign Aid and Trade (DFAT), Government of Australia have successfully trained more than 4,000 smallholder farmers so far, including 600 women, on quality certified seed use over two years.

    Additionally, the project has developed approximately 290 enterprising smallholder farmers, 124 among whom are women, to produce their own quality farm-saved seed for further exchange, distribution and selling among the fellow farmers in nearby villages.

    Co-funded by Engro Fertilizers Limited and the Department of Foreign Aid and Trade (DFAT), Government of Australia, Partnerships and Value Expansion in Seeds Value Chain (PAVE) project aims to build capacities of smallholder farmers to become high-skilled seed multipliers and become part of seed supply chain, as well as using certified seed in their regular cropping to earn higher incomes.

    For this successful project, Engro Fertilizers Limited and Engro Foundation have also received an international award at the Asia Responsible Enterprise Awards (AREA) 2019 in Taipei, Taiwan.

    Sharing his thoughts on this achievement, Nadir Salar Qureshi, CEO of Engro Fertilizers, said, “At Engro Fertilizers, our goal is to promote food security in Pakistan by empowering smallholder farmers to implement sound agricultural practices, and to equip them to overcome barriers of entry in the marketplace. PAVE is a much-needed initiative in this direction.” He added, “AREA 2019 recognizes some of the most impressive business practices in the region, and we are humbled to be named alongside some very laudable sustainability initiatives.”

    PAVE successfully completed its first year of operations in March 2019 and is running under the leadership of Engro Fertilizers’ Crop Sciences Division in partnership with Engro Foundation and Mennonite Economic Development Associates (MEDA), Canada – an implementing partner in the project.

    Regarded as the top corporate social responsibility (CSR) awards in Asia, AREA is organized annually by Enterprise Asia, a leading non-governmental organization for responsible entrepreneurship in Asia. AREA aims to recognize and honour Asian businesses and leaders for championing sustainable and socially responsible business practices.

  • SBP issues daily exchange rates for payment under amnesty scheme 2019

    SBP issues daily exchange rates for payment under amnesty scheme 2019

    KARACHI: The State Bank of Pakistan (SBP) is issuing daily exchange rate for payment of duty and taxes under tax amnesty scheme – 2019.

    The exchange rates are available at the FBR portal and can be accessed by visiting https://www.fbr.gov.pk/assets-declaration-scheme-2019/132009

    The SBP has started issuing the exchange rates from May 27, 2019 in 10 major foreign currencies for conversion into Pak Rupee.

    The available conversions for foreign currencies available in US Dollar (USD), Saudi Riyal (SAR), Japanese Yen (JPY), British Pound (GBP), Euro (EUR), Chinese Yuan (CNY), Swiss Franc (CHF), Canadian Dollar (CAD), Australian Dollar (AUD) and UAE Dirham (AED).

    The latest following exchange rates are available on the FBR site is for May 28, 2019.

    CURRENCY: BUYING RATE

    AED: 40.7238

    AUD: 103.6792

    CAD: 111.3376

    CHF: 149.0207

    CNY: 21.7252

    EUR: 167.5895

    GBP: 190.5176

    JPY: 1.3657

    SAR: 39.8949

    USD: 149.5900