Tag: food

  • SBP asks banks to prioritise import of certain essential items to help businesses

    SBP asks banks to prioritise import of certain essential items to help businesses

    In order to help businesses, the State Bank of Pakistan (SBP) on Monday removed the necessity for prior import approval and asked banks to give priority to the importation of certain necessities, including food, medicine, and energy.

    The business community, including various trade bodies and chambers of commerce, has drawn attention to the fact that many shipping containers carrying imported goods are stuck at the ports as a result of delays in the release of shipping documents by banks, according to a statement issued by the SBP on Monday.

    “SBP has advised banks to provide one-time facilitation to all those importers who could either extend their payment terms to 180 days (or beyond) or arrange funds from abroad to settle their pending import payments.”

     “Accordingly, till March 31, 2023, banks have been advised to process and release documents of shipments/ goods that have already arrived at a port in Pakistan or have been shipped on or before January 18, 2023,” said the central bank.

    To avoid any future issues, SBP also suggests that clients notify their banks before beginning any import transaction.

    To the dismay of many importers and firms in Pakistan, who cited these constraints as the reason for closing down or curtailing operations, the SBP restricted imports early this year due to low levels of foreign exchange reserves.

    Last week, the business community of the country harshly criticised the SBP’s role in the issue in light of the difficulty in issuing letters of credit.

  • World Bank cuts Pakistan’s GDP growth forecast from 4% to 2%

    World Bank cuts Pakistan’s GDP growth forecast from 4% to 2%

    Due to the unstable economy and floods, the World Bank predicted that Pakistan’s economic growth would drop by half, falling by 4 per cent to 2 per cent, during the current fiscal year.

    According to the Bank’s latest report, “Global Economic Prospects,” Pakistan is experiencing growing economic woes, especially those caused by the recent flooding as well as ongoing policy and political uncertainties.

    “Pakistan faces mounting economic difficulties and Sri Lanka remains in crisis. In all regions, improvements in living standards over the half-decade to 2024 are expected to be slower than from 2010-19,” the World Bank stated in Global Economic Prospects released on Tuesday.

    Pakistan’s currency declined by 14 per cent between June and December, and its national risk premium climbed by 15 per cent over this same time frame due to the nation’s low foreign exchange reserves and rising sovereign risk.

    It went on to say that growth is anticipated to pick up to 3.2 per cent in the fiscal year 2023–24 (FY24), still under previous forecasts, as the country implements policy measures to stabilise macroeconomic conditions, inflationary pressures subside, and reconstruction after the floods gets underway.

    According to the analysis, Pakistan’s recent floods are thought to have cost the country damage equal to 4.8 per cent of GDP.

  • Weekly inflation jumps by over 29% due to rising food prices

    Weekly inflation jumps by over 29% due to rising food prices

    The Sensitive Price Indicator (SPI) based inflation for the week ended December 29, recorded a decline of 0.09 per cent due to a reduction in the prices of food and non-food items, according to the Pakistan Bureau of Statistics (PBS).

    The year-on-year trend shows an increase of 29.30 per cent owing to an increase in the prices of onions (498.08 per cent), tea lipton (65.41 per cent), diesel (65.05 per cent), chicken (64.20 per cent), petrol (52.19 per cent), salt powdered (51.99 per cent), eggs (49.11 per cent), pulse moong (46.94 per cent), bananas (45.06 per cent), pulse gram (44.42 per cent) and mustard oil (41.64 per cent), while decrease is observed in the prices of chillies powdered (34.18 per cent), electricity for q1 (13.96 per cent) and gur (1.38 per cent).

    During the week, out of 51 items, prices of 23 (45.10 per cent) items increased, 07 (13.72 per cent) items decreased and 21 (41.18 per cent) items remained stable.

    The SPI for the consumption group up to Rs17,732, Rs17,732-22,888, Rs22,889-29,517 and above Rs44,175 decreased by 0.07 per cent, 0.12 per cent, 0.03 per cent and 0.12 per cent respectively while it increased by 0.02 per cent for the consumption group Rs29,518-44,175.

    The items, which recorded an increase in their average prices during the week over previous include eggs (2.86 per cent), rice basmati broken (2.81 per cent), wheat flour bag 20 kg (2.81 per cent), bread plain (2.76 per cent), firewood whole 40 kg (2.49 per cent), LPG (1.61 per cent), energy saver (1.27 per cent), bananas (1.18 per cent), gur (0.99 per cent), garlic (0.90 per cent), pulse masoor (0.80 per cent), mustard oil (0.72 per cent), rice irri-6/9 (0.60 per cent), pulse mash (0.54 per cent), tea prepared (0.45 per cent), sufi washing soap (0.28 per cent), pulse gram (0.26 per cent), onions (0.25 per cent), curd (0.23 per cent), chicken (0.20 per cent), milk fresh (0.15 per cent), pulse moong (0.12 per cent) and beef with bone (0.02 per cent).

    The items, which saw a reduction in their average prices included potatoes (8.85 per cent), tomatoes (6.02 per cent), electricity charges (2.44 per cent), vegetable ghee dalda/habib (1.47 per cent), sugar (1.22 per cent), vegetable ghee dalda/habib or other superior quality 1 kg pouch each (0.45 per cent) and cooking oil dalda or other similar brand (sn), 5 litre tin each (0.04 per cent).

  • McDonald’s opens first ‘mostly automated’ outlet and foodies are ‘not lovin’ it’

    McDonald’s opens first ‘mostly automated’ outlet and foodies are ‘not lovin’ it’

    The renowned fast food chain McDonald’s has opened an automated outlet in Texas, which is a first of its kind. The restaurant allows customers to order food without requiring a kiosk or a smartphone app.

    Without any human interaction, customers will get their orders on the conveyor belt. The restaurant lacks any seating or set-ups for eating inside since it is meant to be a “grab and go” outlet.

    This unique McDonald’s is smaller than other McDonald’s, and the restaurant’s primary objectives are to improve accuracy and order speed. Instead of waiting and ordering at the restaurant, guests can place their orders before they arrive.

    The business claimed to be creating fresh approaches to provide clients with faster, more effective service.

    Although there are still people working in the restaurant to prepare the food, the new approach only eliminates client interaction. According to the restaurant’s franchisor, Keith Vanecek, the new strategy enables the restaurant team to focus more on order speed, enhancing the effectiveness and enjoyment of both the customer and employee experiences.

    The food chain has, however, come under heavy fire for automating the process since it would harm people’s jobs. At $7.25 per hour, Texas’ minimum wage is one of the lowest in the country. Additionally, reducing employment in such a situation scares those who are already wary of automation and robots taking jobs away from people.

    Many individuals opposed the plan and posted their opinions and personal experiences on social media.

    A Twitter user said that it would result in the elimination of jobs for restaurant employees. Another user said that after speaking with Google and Siri, he now needs to communicate with yet another robot.

    While McDonald’s believes that the strategy will improve the consumer experience.

  • Punjab Food Authority slaps school canteens with hefty fines for selling low-quality food items

    Punjab Food Authority slaps school canteens with hefty fines for selling low-quality food items

    Punjab Food Authority (PFA) has sealed a school canteen for using reused oil, slapped 97 canteens with hefty fines, and issued warning notices for improvement to more than 400 others during a province-wide inspection drive against the school canteens.

    Food safety teams inspected 632 school canteens, including 220 in Lahore, 176 in Rawalpindi, and 236 in Multan, on the directives of PFA DG Mudassar Riaz Malik.

    According to The News, PFA teams also visited numerous cafeterias and canteens in Lahore Gulberg for inspection under the supervision of its director general. The authority imposed an emergency prohibition order on a school canteen since it was using reused oil and violating the Punjab Pure Food Regulations.

    According to Mudassar, PFA has classified the food items being sold in schools into three categories: red, yellow, and green.

    In order to protect children’s bones and prevent them from contracting fatal diseases, he said, PFA prohibited coloured snacks, unhealthy cola/carbonated and energy drinks, gutka, betel nuts, and ice-lollies from being sold in school canteens.

  • PFA issues warning notices to 28 eateries in Lahore for selling sub-standard food

    PFA issues warning notices to 28 eateries in Lahore for selling sub-standard food

    During a province-wide inspection of food outlets, the Punjab Food Authority (PFA) inspected 1,200 food points, issued improvement warning notices to 28 restaurants, and disposed of a significant amount of unwholesome food.

    Mudassar Riaz Malik, the Director General of the PFA, stated that a PFA team visited a well-known restaurant in Gulberg and found expired food products.

    Various cuisine dishes were being prepared using out-of-date items. According to him, the owner of the food establishment also neglected to provide the raiding team with the required documentation and maintain a clean working environment.

    Similarly, PFA seized 7,000 kg of beef last week that was about three years old.

    The meat was retrieved from a hotel’s cold storage unit and was imported from elsewhere.

    After looking into the matter, the food authority’s directorate general concluded that it is unknown if the stale meat is halal or haram. The meat was taken away and burnt by the authorities after the investigation.

  • PFA seizes 1,600 kg outdated meat and expired edibles during a raid in Lahore

    PFA seizes 1,600 kg outdated meat and expired edibles during a raid in Lahore

    On Saturday, the Punjab Food Authority (PFA) foiled an attempt to move a massive stock of unhygienic and expired food from cold storage to some other facility.

    According to The News, PFA Director General Mudassar Riaz Malik and an enforcement team raided a cold storage at Bhobatian Chowk, Lahore based on vigilance-based evidence, and they seized a vehicle (a chiller truck) that was entirely loaded with 1,600 kg of outdated meat, 150 kg of expired butter, and 20 kg of cheese.

    He claimed that unhealthy food was being transported around just to avoid the PFA’s action, however the officials were able to foil the fraud mafia’s plans. Selling or providing expired stock along with new food is illegal and deceptive, according to the PFA DG.

    He asked everyone in the food industry to work with the PFA to comply with the law and fulfill the objectives of the reform.

  • Moeen Ali sparks a never-ending Twitter debate by favouring Karachi’s food over Lahori cuisine

    Moeen Ali sparks a never-ending Twitter debate by favouring Karachi’s food over Lahori cuisine

    The Pakistan Cricket Board (PCB) has received high praise from the English delegation for the tight security and excellent hospitality, while stand-in skipper Moeen Ali’s post-match remark about which city has the best food has reignited the country’s never-ending debate after he said that the food in Lahore had let him down.

    https://twitter.com/Junaid_khichi/status/1576917689146441728

    The cricket team from England defeated Pakistan on Sunday by a score of 67 runs, winning 4-3 and clinching the seven-match series. A journalist questioned Ali about the team’s satisfaction with the security during their visit to Pakistan and whether they had the opportunity to sample any of the cuisine while they were there during a news conference after the game.

    Ali drew a distinction between Karachi and Lahore, the two cities where the matches were held, saying that the security had been “excellent” and had above their expectations.

    Speaking of the food, he said, “I’ve been a little bit disappointed in Lahore, Karachi was really nice. Everything’s nice but this time I found it a little bit disappointing maybe because I lost my tastebuds a bit.”

    After 17 years, the crew returned to Pakistan, and it was obvious that food was a top priority. Mark Wood, an England bowler, cited daal as one of his favourite Pakistani foods in an interview.

    The one topic that may quickly transform a casual conversation between Karachi and Lahore residents into an argumentative disagreement is food. Here are some Twitter reactions:

  • Weekly inflation increases 0.94% as food prices rise

    Weekly inflation increases 0.94% as food prices rise

    Owing to an increase in the prices of food items, the Sensitive Price Indicator (SPI)-based weekly inflation for the week ending September 29 increased by 0.94 per cent.

    The items which saw an increase in prices include onions (47.77 per cent), tomatoes (30.29 per cent), tea Lipton (2.50 per cent), bread (1.74 per cent) and non-food item, washing soap (1.13 per cent), according to the Pakistan Bureau of Statistics (PBS).

    Moreover, the year-on-year trend recorded an increase of 30.62 per cent, mainly due to a surge in prices of tomatoes (224.20 per cent), onions (139.03 per cent), diesel (105.12 per cent), petrol (91.87 per cent), pulse gram (74.56 per cent, masoor (72.42 per cent), mustard oil (64.53 per cent), washing soap (63.33 per cent), cooking oil 5 litre (61.78 per cent), vegetable ghee 2.5 kg (58.37 per cent), maash (57.36 per cent), vegetable ghee 1kg (55.89 per cent), gents sponge chappal (52.21 per cent), and moong (47.96 per cent), while decrease observed in the prices of electricity for q1 (45.61 per cent), chillies powder (42.73 per cent), sugar (18.27 per cent), and gur (1.92 per cent).

    According to the most recent PBS data issued on Friday, the SPI for the week under review in the aforementioned category was recorded at 205.13 points as opposed to 203.21 points observed in the previous week.

  • Miftah Ismail responds to a follower, reveals which restaurant he will visit when back in Karachi

    Miftah Ismail responds to a follower, reveals which restaurant he will visit when back in Karachi

    After resigning from the post of Finance Minister, Pakistan Muslim League-Nawaz (PML-N) leader, Miftah Ismail, can’t wait to get back to dine at his favourite restaurants in Karachi.

    Miftah took to Twitter on Sunday and announced his resignation.

    Where many commended and congratulated Miftah for his dedicated work as finance minister, a follower questioned him about which restaurant he would like to visit once back in Karachi.

    Miftah replied, “I am going to visit Zahid, Idris & Javed Nihari houses, Al-Kebab, Ghaffar and Meerut Kebab, & Gola at Dhoraji. Many choices fortunately.”

    Karachi is Miftah Ismail’s hometown.

    It is pertinent to mention here that the PML-N leader and Senator, Ishaq Dar, is coming back home to Pakistan after almost five years. It is being reported that Dar will take over the finance ministry from Tuesday (September 27).