Peshawar: The Khyber Pakhtunkhwa government has decided to buy 0.3 million metric tons of wheat worth Rs29 billion from the farmers.

Khyber Pakhtunkhwa Food Minister Zahir Shah Toro said that the wheat procurement campaign will be started from May 7. Wheat procurement app has been introduced, payment will be made to farmers through the bank within 24 hours.

Zahir Shah Toro stated that he would ensure transparency in the wheat procurement campaign.

Earlier on April 27, the Khyber Pakhtunkhwa government had announced to purchase 300 thousand metric tons of local wheat.

On the other hand, Punjab Information Minister Azma Bokhari says that the Punjab government will also buy wheat from farmers, but it has not yet been decided how much wheat will be bought.

It is pertinent to note that Prime Minister Shehbaz Sharif had formed an inquiry committee after taking notice of the issue of wheat being imported in large quantities, the report of which will be submitted today.

Karachi: The Pakistan Stock Exchange (PSX) has witnessed a bullish trend on the first day of the business week, with the benchmark KSE-100 index gaining 634 points in early trading.

According to the PSX website, the KSE-100 index rose 634 points or 0.88 percent to 72,536 at around 9:46am, which had closed at 71,902 yesterday.

It is pertinent to mention that on the last business day of last week (May 3), the benchmark SE-100 index had recovered to the psychological limit of 71,000 after increasing by 1,244 points in the stock exchange.

Tahir Abbas, Head of Research, Arif Habib Limited observed that after the three percent correction in the last three days, there is a bullish trend in the market.

He said that investors are optimistic about the new program with the International Monetary Fund (IMF) and the upcoming budget being investor-friendly.

It may be recalled that on April 29, the 100-index of the Pakistan Stock Exchange reached an all-time high of 73,000 points, after which the index fell to 70,657 on May 2 after a gradual decline over the next few days.

Earlier on April 26, the PSX witnessed a strong rally and the benchmark KSE-100 index closed at a record high of 72,742 points after gaining 771 points.

On April 24, the benchmark SE-100 index surged 692 points to cross the psychological level of 72,000 for the first time in history.

On April 22, the 100-index gained 523 points or 0.74% to touch a high of 71,433 points.

World Cup-winning coach Cesar Luis Menotti, who led Argentina to the title in 1978, has died at the age of 85, the Argentine Football Association (AFA) said on Sunday.

Menotti, who played for Rosario Central, Boca Juniors and Santos, began his coaching career at Newell's Old Boys and won the Argentine championship with Huracan in 1973, before taking over as head coach of the Argentine national team in 1974.

“The Argentine Football Association regrets to announce with great sadness the death of Cesar Luis Menotti, current director of the national teams and former World Cup-winning coach of Argentina. Farewell, Flaco querido,” the governing body said in a statement.

Menotti, who left the national side after the 1982 World Cup, went on to coach Barcelona and guided them to Copa Del Rey success in 1983.

“One of the great references of our football left us. Condolences to his family and friends, may he rest in peace,” Argentina's 2022 World Cup-winning captain Lionel Messi said on social media.

He also had spells with Spanish club Atletico Madrid, Argentine sides Boca Juniors, Independiente, River Plate, Rosario Central, Uruguayan side Penarol, Italian club Sampdoria and two Mexican clubs Puebla and Tecos.

“Deep sorrow for the departure of a leader of a group that has given one of the greatest joys to the country,” Argentine President Javier Milei said on social media platform X.

“You gave us a lot in your time with the Argentine national team and football. Undoubtedly, your passing into immortality will be with the best of memories for all of us who love football,” said AFA president Claudio Tapia.

SOURCE: REUTERS