State Bank reports $12 billion+ current account deficit in 9 months of FY2018

J. Choudhry/KARACHI: State Bank of Pakistan today reported $12.4 billion current account deficit of Pakistan in nine months of financial year 2017-18. During the same period in 2016-17, the current account deficit was only $8.35 billion.

From July 2017 to March 2018 (nine months), the country had suffered more than $29 billion worth trade deficit that had wiped out the entire inflow of remittances, investment and caused an outflow of $12.4 billion to meet the shortfall in the balance of payment position. Below is the data of the State Bank of Pakistan issued today (April 19, 2018).

CAD deficit March2018

The foreign exchange reserves with State Bank of Pakistan have already declined to below $9 billion till March 2018, showing a steep decline of nearly 4 billion dollars mainly because of widening current account deficit. The acting finance minister Miftah Ismail has rushed to Washington to hold meeting with IMF and the World Bank officials with the aim to seek fresh borrowings for the upcoming budget being announced in last week of April 2018.

Instead of recovering looted money from the super corrupt rulers and leaders, once again the government had opted for the soft option of borrowing more from IMF and other institutions that would lead to more difficulties for the people of Pakistan from the start of the next financial year, 2018-19, starting from July 2018.

 

Advertisements

China now proposes India-Nepal-China corridor

China India flags

Corporate Ambassador Monitoring Report/BEIJING: China on Wednesday proposed construction of India-Nepal-China economic corridor with multi-dimensional connectivity through the Himalayas as it seeks to expand its influence over the new Nepalese government headed by Prime Minister K P Sharma Oli, widely regarded as pro-Beijing. China’s proposal came after visiting Nepalese foreign minister Pradeep Kumar Gyawali held talks with his Chinese counterpart Wang Yi.

“Let me say China and Nepal have agreed on long term vision of a multi-dimensional cross Himalaya connectivity network,” Wang told a joint press briefing along with Gyawali after their talks. Gyawali is on his maiden visit to Beijing after the Oli-led government came to power in recent elections.

China India flag

Wang said China and Nepal have already signed an MoU on the China’s multi-billion-dollar Belt and Road Initiative (BRI), which includes connectivity cooperation. It included a long-term vision such as connectivity network and covering the links between the two countries though ports, railways, highways, aviation, power and communications.

“We believe that such a well-developed connectivity network can also create conditions for an economic corridor connecting China, Nepal and India,” Wang said.

“We hope that such cooperation will contribute development and prosperity for all the three countries,” he said.

Reacting to a question whether Gyawali’s visit to China was aimed at counterbalancing the recent visit by Oli to India, his first visit abroad after taking over as Prime Minister, Wang sought to make out a case for trilateral cooperation between India, China and Nepal.

He said Beijing and New Delhi should facilitate it.

Just Accept — New Poem

Ali Zulquarnain

Just Accept

Just Accept what is coming your way

Never reject as nothing is here to stay

The dream might seem disarray

But a focus will let you to your prey

The odds will no longer be broad

All evens will help make your day

Staying firm with heads right up

Will turn every bit of grey

Just try and never use word cry

As soon you will win your play

About Poet/Writer: Ali Zulquarnain is Multan-based banker, poet and an Award Winner inspirational writer as well. He is receiving his “Inspirational Writer Award” at the 13th Corporate Ambassador Awards, organized in Islamabad recently.

zulquarnain000222

 

How to befool investors—learn it from Bahria Town?

  The Financial Daily, Karachi, today published my weekly column based on exclusive information, relating to corporate treacheries in Pakistan.
How to befool investors - learn from Bahria Town?

Bahria Town is one of the most famous and a mega real estate development entities in Pakistan. Many a times, we have heard different tales of the involvement of Bahria Town in fraudulent practices that sometime seem true. For example, last week, Tahir Majid Khan, a victim of Bahria Town Awami Villa, Rawalpindi, scheme has shared his genuine grievances and the letter of the company that has shattered his dream of having a villa in Bahria Town in Rawalpindi. Tahir Majid Khan had paid many installments during the past 12 years for his Villa Apartment No. 221a, Sector VI, Street 12, (Registration No. 00019), first floor of the said housing scheme.

After making payment of instalments regularly during the past 12 years, he and his family were having dream of shifting to their Villa, but the Customer Support Center, Bahria Complex Phase-8, Bahria Town, Rawalpindi, showed the real face of their company and shattered their customer’s hopes and dream through a recent letter, by giving Tahir Majid Khan options to surrender/merger Awami Villa, Rawalpindi.

Interesting to note is that the Bahria Town has clearly admitted in its letter that the company has failed to develop the Awami Villa project due to unavoidable circumstances that delayed its handing over to the owners because of the low price of villa (about 10,50,000/-). Bahria Town says that its management has given two options to the villa owners – option No. 1 _ Awami Villa files can be surrendered against open merger certificate (valid for the period of one year from the date of issuance) at the rate of Rs 15,00,000/- for Premier category and Rs 13,21,000/- for the standard category which can be merged into any project of Bahria Town Islamabad and Rawalpindi including Bahria Enclave, Garden City, Golf City and Phase I-VIII projects against all kinds of charges which are depicted in surcharge report (including extra land, NUC and Boulevard/corner charges, etc).

The Option No. 2 is that the bearer of open merger certificate of Rs 15,00,000/- may opt for one plot of 5-marla in Bahria Town Karachi between April 1 to May 15, 2018, against each merger certificate.

Moreover, Bahria Town says that 100% principal amount has to be paid before surrendering any file/registration of Awami villa except corner/boulevard charges, utility development charges and outstanding surcharge. Bahria Town, however, nowhere mentioned that if any owner of the villa wants to retain his/her Awami Villa, the management would facilitate it.

Now the questions that come in the minds of the investors are that after a lapse of 12 years, why Bahria Town is not willing to handover Awami Villa to their owners. According to experts, the current market of this villa is about Rs 5 million and Bahria Town is just offering Rs 1.5 million and what was the logic of offering bottom-line price to the allottees.
As Bahria Town has failed to fulfill its commitment of delivering Awami Villas to their owners, how could they trust this company anymore for fair deal in their future with this company? This is another important fear that is haunting the owners of the villas. Now where is image and the reputation of Bahria Town that believes in fulfilling the dreams of its customers?

It is no doubt, the company has delayed the completion and handing over of Awami Villas to their owners, but this should not be the excuse to get rid of the owners of Villas by offering them other options at throwaway price. If Chairman of Bahria Town Malik Riaz and the management of this mega real estate development believe in coming up to the expectations of their customers, they must deliver Awami Villas to their owners without using any excuse.
Unattended appeal of Sughra Bibi: Meanwhile, Sughra Bibi, a widow, is also waiting for support and reply from Chairman Bahria Town Malik Riaz and management for unblocking of her plot number BTKP-2972. In her letter to Bahria Town, Sughra Bibi, an uneducated woman and widow as well, purchased residential plot in 2015 measuring 500 square yards in Bahria Town, Karachi. Her plot had been blocked due to non-payment of dues to which she was not aware.
She had written a letter to Bahria Town Chairman and management, requesting them to unblock her plot and given her a chance to pay the outstanding dues. But no one from Bahria Town has bothered yet to respond to her letter. Malik Riaz is a renowned philanthropist and he can exempt the dues of the widow.

How Dubai ruler’s daughter Sheikha Latifa ‘goes missing’?

Latifa01

Corporate Ambassador Monitoring Report/TAMPA: Her friends say the last they saw of her was when commandos intercepted their sailboat in the Arabian Sea and dragged her away, kicking and screaming. A daughter of Dubai’s ruler, she had been trying to escape her homeland, saying she was being abused. Since then, the whereabouts of Sheikha Latifa bint Mohammed Al Maktoum are unknown, though she was likely brought back to the United Arab Emirates after the commando raid last month, said Herve Jaubert, a French ex-spy who told The Associated Press that he helped organize her escape attempt. Dubai’s government and Emirati officials did not respond to AP requests for comment. “I know it sounds incredible,” Jaubert told the AP, but “it’s just the facts.”

The allegations of a dramatic would-be sea escape intrude into the carefully controlled image maintained by the family of Sheikh Mohammed bin Rashid Al Maktoum, who not only rules Dubai but is the Emirates’ prime minister and vice president. He is believed to have several dozen children from multiple wives. Some of his sons and daughters figure prominently in local media and online, but others are rarely seen, TOI reported Monday.

Sheikh Mohammed has multiple daughters named Latifa. In recent weeks, one of those Latifas has suddenly appeared frequently in media. The appearances could be an attempt to muddy the picture as local media now make no mention of the Latifa who allegedly tried to leave. Matters have since grown only murkier. A London-based for-hire advocacy group long critical of the UAE, called Detained in Dubai, has been promoting the case and says it has targeted by threats.

All this takes place against the backdrop of a Gulf-wide misinformation war linked to a diplomatic dispute between typically clubby Arab nations and Qatar. The UAE and its allies Saudi Arabia, Bahrain and Egypt have boycotted Qatar since June. Each side has spread critical — or false — reports about the other; millions of dollars have been spent by all involved on public relations campaigns and lobbyists.

Facing financial problems and what he described as threats from authorities, Jaubert said he escaped by wearing a woman’s all-enveloping burqa over scuba gear to reach a raft, then met a waiting sailboat in international waters.

The 2010 book he wrote, “Escape from Dubai,” prompted Sheikha Latifa to contact him, he said.

“She said who she was and I was extremely careful,” Jaubert said. “I was looking for a trap.” He said he confirmed her identity through “surveillance,” without elaborating. It took eight years for Sheikha Latifa to decide to flee, he said.

Both Jaubert and the Sheikha made calls and sent emails at the start of March, seeking political asylum for her in the U.S., said Heathcock, an immigration lawyer. Another Florida lawyer, Linda Braswell, also said she was aware of Jaubert’s efforts on the sheikha’s behalf. Sheikha Latifa, who is in her early 30s, appears in a 40-minute video in which she says she’s making the testimony just before the escape attempt to be released in case it fails. In it, she says that on orders of her father, she was imprisoned off and on for several years and abused after trying to leave the Emirates. She says that she was later released but kept under heavy restrictions on her movement.

She gave Jaubert and lawyers the video, as well as pictures of an Emirati passport and an Emirati ID card identifying her as a member of the Dubai ruling family. Detained in Dubai later received the video to release if the escape went wrong. In the video, Sheikha Latifa talks of her skydiving hobby. Kristen Cotten, a 33-year-old skydive instructor and friend of Sheikha Latifa, told the AP the woman in the video and the identification documents is indeed her friend.

“I think a lot of people think it’s fake just because it sounds so crazy,” said Cotten, who was an instructor in Dubai between 2012 and 2016 and now lives in Minnesota. “If I hadn’t worked with her and known her and seen her every day I’d probably feel the same way. But that’s the same girl I saw every day at the drop zone.”

Sheikha Latifa also was shown and identified in pictures from 2016 and 2017 on an Instagram account connected to her skydiving club. Past articles in state-linked media also confirm she is a daughter of the ruler. Aided by friend Tiina Jauhiainen, the Sheikha made it into neighboring Oman and then took a small boat out to meet Jaubert and his crew aboard his US-flagged sailboat, the Nostromo, the former spy said.

The Nostromo sailed for the Indian coast, but three Indian and two Emirati warships intercepted it on March 4, Jaubert said. A team of commandos boarded the boat in the Arabian Sea some 380 kilometers (235 miles) southwest of Mumbai, according to Jaubert and Detained in Dubai. Jaubert said the Indian commandos beat him and his crew.
“If you do anything, they are going to vaporize you,” he said.

Indian officials told the AP they had no information about the incident Jaubert described.
Jauhiainen, speaking at a news conference Thursday in London, said Sheikha Latifa kept repeating during the raid: “I am seeking political asylum.”
“At that time I was told to keep my eyes shut, with a threat to be shot if I didn’t comply,” she said. “Then I heard someone speaking Arabic and Latifa said: `Shoot me here, just don’t take me back to the UAE.”‘

“She was taken away kicking and screaming.”

NBP-PMRC sign accord to promote housing sector financing

NBP and Housing

Karachi: The President & CEO of National Bank of Pakistan, Mr. Saeed Ahmad,
reaffirmed the commitment of NBP to grow and develop Housing Sector Financing in Pakistan. He was speaking at the signing ceremony of the Shareholders’ Agreement of “Pakistan Mortgage Refinance Company” (PMRC), at a local hotel in Karachi, on Saturday, 14th April.

In his speech, Mr. Ahmad said that the lack of proper housing for low income citizens
may lead to serious social, economic and law & order issues. Of a shortage of 10 million housing units in the country, 80-90% is estimated to be for lower income groups, and affordable housing was therefore a critical need.

He recalled an incident when he was on a road journey in the interior of the country, when he stopped by the side of the road and spoke to a family who were living in shanties (“katchi abadi”). In the conversation, the head of the family said that he worked on housing construction sites but could not afford to build a house for his family. The irony of this, Mr. Ahmad stated, had left a deep impression on him and it was his heartfelt desire to see real progress in delivering housing to the poor.

He said that solutions to the housing shortfall require out-of-the-box thinking and the authorities need to give serious thought to creating the kind of institutional infrastructure that would help address the problem. The launch of the PMRC is, he added, a vital step in this direction, but of course further building blocks need to be put in place, including measures to bring the construction industry into the formal sector and to eliminate legal and regulatory obstacles to the provision of low cost housing. This will reduce the need for the Governments (Federal as well as Provincial) to provide subsidies from their limited resources.

He complimented the efforts of the Board of Directors of PMRC under the chairmanship of Mr. Rehmat Hasnie and the Management team, Mr. N. Kokularupen, CEO of PMRC, and Dr. Muhammad Saleem (COO) and Mr. Zulfiqar Alam (CFO and Company Secretary). He said that from inception, his guiding philosophy was to have “the right person for the right job”. This has resulted in the induction of a highly experienced and professional management team and this augurs well for the future success of the company.

The event was presided over by the Chief Guest, Mr. Jameel Ahmed, Deputy Governor, SBP.  Mr. Risha Mohyeddin, Group Chief of NBP, signed the Shareholders Agreement on behalf of NBP. Ms. Naheed Sultana, Group Chief, Commercial & Retail Banking Group, which includes responsibility for housing finance, also attended the event.
NBP is one of the principal shareholders of PMRC, which numbers several other banks as its shareholders and the World Bank has committed facilities of US$140 million for the PMRC.

Mr. Samar Hasnain, Executive Director of the SBP, also spoke at the occasion and recalled that the idea was seeded at the SBP over 10 years ago, and that it was heartening to see this idea converted into reality.

Mr. Jameel Ahmed, Deputy Governor, acknowledged the pivotal role of Mr. Saeed Ahmad while he was Deputy Governor of SBP in developing the concept of PMRC. Mr. Jameel Ahmed also complimented Mr. Samar Hasnain and his team for their hard work and commitment to the housing sector and for the landmark achievement of successful launch of PMRC.

Replying to a query raised by media personnel, Mr. Saeed Ahmad referred to the MoU signed in the last week between NBP and PHA-KPK for financing of 200,000 housing units; he reiterated that NBP is the “Nation’s Bank”, and that the Bank would be very interested in similar projects in Sindh, Punjab and Baluchistan.  He said that PMRC would play a key role in these projects.

During Mr. Ahmad’s tenure as Deputy Governor of SBP, several other initiatives were also successfully implemented such as three Centres of Excellence for Islamic Finance, Warehouse Receipts, Asaan Accounts and Asaan Mobile Accounts among others.

 

Sharmeen Shafiq Khan, new Jury Member of Corporate Ambassador Awards

Ms Sharmeen Shafiq Khan is a senior Information Officer in Sindh Government Department in Karachi. She is also a Social Icon and Member of Rotary Club in Karachi. Corporate Ambassador welcomes her as Senior Jury Member.

Sharmeen Jury Member

sharmin5

sharmin6

Jury Members April 15

Javed Mahmood, Chief Editor Weekly Corporate & Founder/President of Corporate Ambassador Awards; Ms Rozina Jalal, Renowned Astrologist/TV Analyst; Mubasher Mir, President, Karachi Editors Club/TV Analyst and Resident Editor of Daily Pakistan, Karachi; Aamna Rauf Malik, senior educationist/trainer and Founder of Fog-Light engaged in teachers/students development and parental guidance; Alveena Agha, Chief Editor Affairs Pakistan and TV Host of BusinessPlus; Muttahir Ahmed Khan, Assistant Professor, TV Analyst/Author; Dr Shujaat Mubarik, TV Anchorperson/TV Analyst and Dean of MAJU, Karachi and Dr Murtaza Mughal, Chairman of Nazriya-e-Pakistan Trust Center, Islamabad and President, Pakistan Economy Watch.

Brief History of Corporate Ambassador & CA Awards

Corporate Ambassador Awards program was launched in 2012 in Karachi. Senior Journalist, TV Analyst and Chief Editor of weekly Corporate Ambassador Javed Mahmood, who has to his credit more than 28 years’ experience in English Journalism, has started this initiative. Javed Mahmood is the former Resident Editor of daily The Nation, Karachi.

The purpose is to appreciate and acknowledge the achievements of the organizations and individuals in the society doing excellent work and to motivate others to seek excellence in their profession, career and work for well-being of the needy people.

Since 2012, more than 480 organizations and individuals, including students, have received this prestigious award. So far 13 awards programs have been organised_ nine in Karachi and four in Islamabad.

Who can opt for this award?

Corporate Ambassador Awards is a social & corporate awards that are given to the organisations, companies, professionals belonging to any field who have some notable achievement(s) in their life, profession, business, career or social welfare work. Students with certain ambitions and achievements have also been given awards and Hi-Achievers (students) can also apply for this award. Nomination Fee is charged from organization and professionals. Sponsorship are also accepted to provide some free of cost to needy but deserving nominees of awards. For more information, please contact Founder/Chief Editor Mr Javed Mahmood (WhatsApp 0334-3939029/Email: jchoudhry63@gmail.com)

My new Best Pix 13th Awards

13th awards backdrop Shazi

Post 13th Awards FB Promo April11

Google flooded with CA Awards April13

rozinajalal google3

rozinajalal google1

google flooded with our awards04

Afsheen Zeeshan in google search1

aamna rauf malik on google1

 

TV Host Aftab Iqbal launching his own TV Channel “Aap”

aftab iqbal

Famous TV Host, Columnist and Media Innovator Aftab Iqbal is finally launching his own TV Channel “Aap” soon. He got fame with the launching of ”Hasb-e-Haal”, then switched to another TV channel Geo ”Khabarnaak” and then launched Khabardaar on Express News. He is the architect who shifted stage comedy to TV channels and presented a mixed shows with different varieties that became very popular. Weekly Corporate Ambassador wishes best of luck to Aftab Iqbal for finally taking the decision of launching his own TV channel.

 

 

280,000 to die in 48 hours in case of nuclear attack on Washington

Researchers found people who did nothing were most likely to die with nearly 280,000 people killed in just 48 hours. Pictured is the simulation

Monitoring Report/LONDON: The world is living under the threat of nuclear war and a terrifying simulation reveals what would happen if a nuclear bomb went off in a major city. As well as looking at the destruction, scientists used the computer model to work out how people would behave if the worst-case scenario struck.

In the dystopian-like version of The Sims, researchers simulated a nuke exploding in Washington DC. An entire city block was obliterated instantly and buildings blasted for a mile in almost every direction. Researchers found people who did nothing were most likely to die, nearly 280,000 in just 48 hours, reports Daily Mail of UK.

The simulation was designed to give emergency planners an idea of what chaos would be caused from gridlock, power outages and destroyed communications. Computer scientists from Virginia Polytechnic Institute and State University even created individual personalities for each resident. The ‘agents’ acted according to their age, gender and occupation, reacting in different ways from ‘fleeing in panic’ to ‘standing paralysed with fear’, writes Science Alert.

What you should do in case of nuke-attack

Toronto-based YouTubers Gregory Brown and Mitchell Moffit have detailed a number of tips to prepare for a nuclear bomb. Pack an emergency supply kit containing water and non-perishable food items. When a nuclear bomb goes off, it sends out radiation that can ruin your mobile phone and laptop, so preparing battery-powered radios for communication is wise. For the blast, it is important to get as much concrete between you and the blast as possible.

For the fall-out it’s important to have thick walls and a thick roof, he says, and in a house it is a good idea to blockade all the windows. But if you are outside and know the blast is coming, you might have time to get to a better shelter. First you should get on the ground with your hands behind your head and brace yourself for the blast. Never look at the blast, because it can cause you to go blind temporarily. Then, after the blast, you have 30 minutes to get to the best place.

Once you get inside remove your clothes and clean yourself straight away and blow your nose, to stop the radioactive materials from spreading, and do not use conditioner. If you cannot have a shower, wipe yourself with a wet cloth.

 

‘Agent decision-making takes into account their health status, information about family members, information about the event, and their local environment’, researchers wrote.

Some looked out for their family while others ran blindly away.

When humans carried out ‘shelter-seeking, evacuation, healthcare-seeking, and worry’ they were more likely to survive.

Researchers found the best course of action was to take shelter first and then take steps to escape afterwards.

Those who tried to seek out family members and ‘aided and assisted’ other people were more likely to die.

Venturing away from a safe place meant they were subject to a higher dose of radiation, which could potentially prove fatal, found the simulation, first revealed by Science Magazine.

It seems these scientists are not the only ones exploring the damage of nuclear attack at the moment.

Last month researchers created an interactive map that revealed the terrifying scope of a nuclear blast for any given area. The simulation shows the extent of the fireball, radiation, shockwave, and heat spawned by different weapons, from the 15 KT ‘Little Boy’ dropped on Hiroshima to the USSR’s 50,000 KT Tsar Bomba.

Users can also select between a surface blast or airburst, and four different bombs: the 15KT ‘Little Boy,’ North Korea’s 150 KT Hwasong-14, the US’s 300KT W-87, and the 50,000 KT Tsar Bomba, the largest USSR bomb ever detonated.

If a W-87 were dropped over New York City, for example, the effects would be catastrophic.

The tool calculates the fireball would span .42 square miles and send a 26.87 square-mile shock wave.

Radiation would extend .25 square miles, stretching into New Jersey.

WHAT SHOULD YOU DO IN THE EVENT OF A NUCLEAR ATTACK?

Toronto-based YouTubers Gregory Brown and Mitchell Moffit have detailed a number of tips to prepare for a nuclear bomb.

Pack an emergency supply kit containing water and non-perishable food items.

When a nuclear bomb goes off, it sends out radiation that can ruin your mobile phone and laptop, so preparing battery-powered radios for communication is wise.

For the blast, it is important to get as much concrete between you and the blast as possible.

For the fall-out it’s important to have thick walls and a thick roof, he says, and in a house it is a good idea to blockade all the windows.

But if you are outside and know the blast is coming, you might have time to get to a better shelter.

First you should get on the ground with your hands behind your head and brace yourself for the blast.

Never look at the blast, because it can cause you to go blind temporarily.

The, after the blast, you have 30 minutes to get to the best place.

Once you get inside remove your clothes and clean yourself straight away and blow your nose, to stop the radioactive materials from spreading, and do not use conditioner.

If you cannot have a shower, wipe yourself with a wet cloth.

 

‘We describe a large-scale simulation of the aftermath of a hypothetical 10kT improvised nuclear detonation at ground level, near the White House in Washington DC’, researchers, led by Nidhi Parikh, wrote in the paper published in the National Center for Biotechnology Information.

Agent decision-making takes into account their health status, information about family members, information about the event, and their local environment’, researchers wrote. Some looked out for their family while others ran blindly away.

When humans carried out ‘shelter-seeking, evacuation, healthcare-seeking, and worry’ they were more likely to survive. Researchers found the best course of action was to take shelter first and then take steps to escape afterwards. Those who tried to seek out family members and ‘aided and assisted’ other people were more likely to die.

Toronto-based YouTubers Gregory Brown and Mitchell Moffit have detailed a number of tips to prepare for a nuclear bomb.

Pack an emergency supply kit containing water and non-perishable food items.

When a nuclear bomb goes off, it sends out radiation that can ruin your mobile phone and laptop, so preparing battery-powered radios for communication is wise. For the blast, it is important to get as much concrete between you and the blast as possible.

For the fall-out it’s important to have thick walls and a thick roof, he says, and in a house it is a good idea to blockade all the windows. But if you are outside and know the blast is coming, you might have time to get to a better shelter. First you should get on the ground with your hands behind your head and brace yourself for the blast. Never look at the blast, because it can cause you to go blind temporarily. Then, after the blast, you have 30 minutes to get to the best place.

Once you get inside remove your clothes and clean yourself straight away and blow your nose, to stop the radioactive materials from spreading, and do not use conditioner. If you cannot have a shower, wipe yourself with a wet cloth.

 

8 Million Britishers no longer eating meat

vegetables

Corporate Ambassador Monitoring Report/LONDON: About eight million Britishers are no longer eating meat, while one in four is planning to reduce meat consumption. Young people are driving the meat-free trend, the research showed, with younger consumers more likely to have concerns about the ethics of meat.

Just under four million people specifically identify as vegetarian, the study suggested, a figure more than three times higher than the Vegetarian Society found in 2012. The survey of more than 2,000 people found that six per cent called themselves vegetarian, four per cent pescetarian and two per cent vegan, Daily Mail of UK reported quoting The Grocer magazine.