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Infrastructure Development in Pakistan

KARACHI: Institute of Business Administration (IBA)
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KARACHI: Pakistan's tallest building, Bahria Icon Tower, under-construction in Clifton. It consists of twin towers - one 62-storeys and the other a 40-storey hotel tower
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ISLAMABAD: Under-construction 32-storey Park Lane Tower on Jinnah Avenue in Blue Area, next to Islamabad Stock Exchange Tower. A project of Bahria Town
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Lahore:

Nishat Emporium Mall, Johar Town

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Photo Credit: Omi92 ssc

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Main Mosque, Bahria Town

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Shanghai Model Pedestrian Bridge, Khaira Junction

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Azadi Chowk Interchange

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Photo Credit: zee123 ssc
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Underpass along Canal Road & Link Road

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New Multan Airport

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Green and clean Peshawar Project

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Faisalabad:

Jaranwala Road / Hashmat Khan Road

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Sitara Sapna City

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Children's Hospital

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Jhall Chowk Interchange Project

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FATA & KPK: Under-Construction Gomal Zam Dam Irrigation Component: The main objective of the project is to provide sustainable irrigation water supply to 163,100 acres of agricultural land so as to increase agricultural production and uplift the socioeconomic condition of the inhabitants. Upon completion, this project will satisfy 70% of agricultural requirements of Dera Ismail Khan, KPK and surrounding areas

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Rawalpindi:

Metro

Photo Credit: Nouman_26 ssc

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Marrir Railway Bridge

Photo Credit: Nouman_26 ssc

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SNGPL to Provide Infrastructure for 500 Million LNG to CNG Stations all over in Pakistan

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Federal Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi has said that consumption of liquefied natural gas (LNG) in the compressed natural gas (CNG) industry will prove to be a game changer as it will save $2.5 billion per annum in oil imports and ensure employment to about one million people.
Speaking at a press conference along with All Pakistan CNG Association supreme council Chairman Ghayas Paracha here on Monday, Abbasi said gas utilities – Sui Northern Gas Pipelines Limited and Sui Southern Gas Company – would provide infrastructure for transporting 500 million cubic feet of LNG per day (mmcfd) to CNG filling stations.

“Gas supply to CNG stations will be for seven days a week and CNG will be 30% to 35% cheaper than petrol,” he said, stressing Pakistan had a wide infrastructure network in place for CNG pumps and provision of LNG would lead to consumption of clean energy in the country.
He pointed out that CNG stations had provided jobs to 500,000 to 700,000 people and the number would go up to one million following revival of the industry on the back of LNG injection.
“The private sector will import LNG worth billions of dollars and 250 to 300 mmcfd will be left after its supply to CNG stations. This saved gas will be provided to power or fertiliser plants,” he said.
The private sector would also bear the impact of unaccounted-for-gas (UFG), he added, referring to gas theft and leakage.
The country can transport 500 mmcfd of LNG by using the current transmission infrastructure of gas utilities, but additional infrastructure will be developed to handle more LNG supplies.
The minister made it clear that LNG price would depend on market forces, ruling out any role for the Oil and Gas Regulatory Authority (Ogra) in that regard.
However, he said, it would be 30% to 35% cheaper than petrol and the government would give tax relief to make it affordable for the consumers. It will take 18 months to induct LNG into the CNG industry.
All Pakistan CNG Association Chairman Ghayas Paracha claimed that the CNG industry’s worth would jump from Rs450 billion to Rs600 billion after LNG supply to the filling stations.
“The number of CNG-powered vehicles will reach 4.5 million compared to existing 3.7 million and consumers will be able to save Rs12,000 per month in the wake of continuous LNG supply,” he said.

ADB to support Bhasha dam project

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The Asian Development Bank (ADB) has said that despite its limited financing capacity it would support the Diamer-Bhasha dam to ‘the extent possible’.

This was a diplomatic message the Asian Development Bank President Takehiko Nakao conveyed to× Pakistan during his meeting with President Mamoon Hussain and Finance Minister Ishaq Dar.

The ADB was earlier expected to be the lead financier and consortium leader of the $14 billion Diamer-Bhasha dam project. Wapda’s former chairman Durrani had told a parliamentary committee about two years ago that the ADB “on at least three occasions has committed to providing up to $4bn”.

The Diamer-Bhasha is an important project for managing water resources in Pakistan and ADB assured of all help.
The matter was taken up during a meeting with the ADB chief by Finance Minister Ishaq Dar who sought support for the country’s top priority project.

“We will need the support of the ADB on the Diamer-Bhasha dam because solving the energy crisis is the top priority of our government,” Mr Dar was quoted in an official statement as telling the visiting ADB chief.

Mr Dar said the Bank would hold a Business Opportunity Conference in Washington on October 8 and government representatives would discuss the project there.

Mr Nakao said that although the ADB could lend only $1bn to a country for a development project, it would continue supporting× Pakistan in projects like renewable energy, Jamshoro coal-fired plant and plans of regional connectivity.

He said his institution supported Turkmenistan-Afghanistan-Pakistan-India (TAPI) pipeline project which was important for Pakistan.

“The Diamer-Bhasha is also an important project for managing water resources in Pakistan and we will help to the extent possible,” he told the finance minister.

Also read: World marketing of Bhasha dam planned

As far as the rehabilitation of× Persons is concerned, the ADB would gladly extend its expertise for the reconstruction work, he said.

Dar said that Pakistan wanted to proceed with the TAPI and CASA 1,000 (Central Asia South Asia electricity import project) for meeting the country’s future energy needs.

The minister said on the economic condition of the country, the government had been following a pro-development macro-economic agenda and improvements could be seen in 16.44 per cent growth in revenue collection, decrease in budget deficit to 5.7pc of GDP, 13.7pc growth in foreign remittances, 4.2pc improvement in large-scale manufacturing output and a 16pc increase in the disbursement of agricultural credit.

The ADB chief was informed that the government had also increased the allocation for social safety net from a mere Rs40bn to Rs118bn over the past 14 months.

He said the government could have added $2.4bn to foreign exchange reserves but recent political situation had delayed three important transactions; the issue of Sukuk, divestment of the OGDCL shares and IMF’s next release but he hoped to resolve the issue amicably because a committee had already been constituted on electoral reforms.

The ADB delegation was also briefed on the damage cause by flood in Punjab, AJK and Gilgit Baltistan.

Mr Nakao said the ADB would like to assist in the rehabilitation process for flood-affected persons.

Pakistan’s water experts to inspect India’s Himachal project

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A three-member Pakistani delegations of water experts reached this Himachal Pradesh town to inspect an upcoming hydropower project in the Lahaul Valley, an official said.
“The delegation, led by Pakistan’s Indus Waters Commissioner Mirza Asif Beg, would visit the 120-MW Miyar hydropower project near Udaipur town in Lahaul-Spiti district Monday,” Central Water Commission regional director P. Dorje Gyamba, who is accompanying the team.
The project is being commissioned by private firm Moser Baer in the Miyar Valley on a tributary of the Chandrabhaga river.
The Indian team accompanying the Pakistani delegation included Indus Water Commissioner K. Vohra and senior joint commissioner P.K. Saxena.
The Indus Waters Treaty was signed in 1960 with the support of the World Bank to settle water issues between the two neighbouring countries.
The purpose of the Pakistani team’s visit is to ascertain whether any diversion has been made in the original flow of the Chandrabhaga, which later enters Jammu and Kashmir and there it’s known as the Chenab.
“We are hopeful that India will show some flexibility on (Pakistan’s) reservations over the building of new dams in India,”.
During the five-day trip, the delegation will also visit four “controversial sites” on the Chenab river where New Delhi is planning to construct new dams, said.
Reiterating that Pakistan’s objections over the design of Kishanganga dam were logical, Baig said that some serious doubts pertaining to the controversial project – particularly regarding the Neelum distributary point – and other dams on the Chenab river have already been allayed.
The paper quoting Baig said his delegation would try their best to resolve all issues during their stay in India. But at the same time, he admitted that Islamabad would have no choice but to approach the International Court of Justice if New Delhi did not entertain their “fair” demands.

Pakistan-Norway agree to enhance energy cooperation

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Prime Minister Nawaz Sharif discussed enhancing bilateral energy co-operation with Norwegian Prime Minister Erna Solberg at the United Nations Headquarters, where the Pakistani leader is attending the annual General Assembly session. “Both leaders discussed the existing level of co-operation between the two countries and decided to further enhance bilateral relations especially in the field of energy,” the Pakistani Mission to the UN said.

The two prime ministers also discussed the regional situation, particularly with reference to the recent developments in Afghanistan. Prime Minister Sharif informed his counterpart about the measures taken by the government to resolve the problem of electricity shortages in Pakistan and how all energy sources were being utilised to generate electricity. Norwegian Prime Minister Solberg, while appreciating the steps taken by the government to utilise alternate energy sources, assured her country”s support for Pakistan in the endeavours in the area.

Prime Minister Sharif also informed the Norwegian leader about favourable investment climate in Pakistan and said that Norwegian companies would be welcome to invest in Pakistan, especially in the field of energy and infrastructure development. The Norwegian prime minister appreciated the role of the Pakistani Diaspora in the development of her country. According to the Pakistani Mission, Special Assistant to the PM, Mr Tariq Fatimi, Permanent Representative to UN, Ambassador Masood Khan, Additional Secretary, PM”s Office, Fawad Hassan Fawad were also present during the meeting.

Oracle Coalfields Inks Pakistan Framework Deal With China’s SEPCO

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Oracle Coalfields PLC said it has signed a engineering procurement and construction agreement in Beijing with SEPCO Electric Power Construction Corp for the construction of an integrated coal mine and power plant.

SEPCO is a power and construction group in China.

Oracle Coalfields, which is a developer of a lignite coal mine located in the south eastern Sindh Province in Pakistan, said the construction of the integrated coal mine and power plant is a major milestone in the development of the Block VI project in the Thar Coalfields.

Through its local coal mining subsidiary Sindh Carbon Energy Ltd, Oracle owns the mining lease for Block VI in Thar Coalfield, for the mining of lignite coal. Oracle plans to develop the mine and to sell coal to a new created company, provisionally called Electric Power Ltd, at an integrated power station next to the mine.

Oracle said that SEPCO has also proposed a financing structure to potentially securitise up to 85% of the cost of the two EPC contracts, which would be provided by Sinosure, the China Export & Credit Insurance Corp, and some Chinese banks.

The EPC contract is for a 4.2 million tonnes per year coal mine and the 600 megawatt power plant.

The combined EPC transaction value is around USD1.3 billion, Oracle said.

The EPC framework agreement confirms SEPCO’s intention to purchase minority equity interests in Electric Power and to potentially make an investment in Sindh Carbon Energy Ltd, Oracle said.

“Entering the EPC Framework Agreement with and receiving a financing proposal from one of China’s largest state-owned enterprises in the energy sector is another step towards bringing the project to reality. Both SEPCO and Oracle are eager to succeed in the development of our integrated coal mine and power plant project and to play an effective role in addressing Pakistan’s energy crisis,” said Oracle Chief Executive Shahrukh Khan in a statement.

Punjab government approves projects worth Rs 9,581 million

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The Punjab government on Wednesday approved sixteen development schemes of various sectors with an estimated cost of Rs 9581.101 million, including Replacement of Pumping Machinery at Inline Booster Pump Station & Terminal Reservoir in Faisalabad at the cost of Rs 1643.520 million.

According to the spokesman for the P&D, the approved development schemes included:

1. Up-Gradation / Establishment of Lab Schools in GCET’s (Provision of Missing Facilities) at the cost of Rs 533.254 million,

2. Up-gradation of ICU and Operation Theaters of Nishtar Hospital, Multan at the cost of Rs 350.000 million,

3. Replacement of Pumping Machinery at Inline Booster Pump Station & Terminal Reservoir in Faisalabad at the cost of Rs 1643.520 million,

4. Laying of Forcemain from Bhogiwal Disposal Station Chotta Ravi Drain to Shalimar Escape Channel Across Lahore Ring Road Lahore at the cost of Rs 368.762 million,

5. Sewerage scheme Depalpur City, District Okara at the cost of Rs 300.355 million,

6. Widening / Improvement of Bypass Khan Musalman to Jagowala Nowshera Virkan length 17.50 kms, Gujranwala at the cost of Rs 459.562 million,

7. Construction of Double road from Gujrat-Jalalpur Jattan Road to University of Gujrat length 2.14 kms, Distt Gujrat at the cost of Rs 263.085 million,

8. Widening / Improvement of road from Pirkot Khaliana to Chela to Rajana to Khan Da Kot to Guniana length 45.00 km, Jhang at the cost of Rs 555.594 million,

9. Improvement of road from Pir Mahal Darkhana Road to Shorkot Cantt Toba Road Via Chak No 321-GB, 323-GB, 321-GB, 325-GB, 326-GB, length 20.00 km, T T Singh at the cost of Rs 307.962 million,

10. Dualization of Intercity Road in Pir Mahal City, length 2.87 km, Toba Tek Singh at the cost of Rs 247.374 million,

11. Widening / Improvement of Palace Road from Pull Dari Sangi to UAE Palace (length: 15.50 km), Distt R Y Khan at the cost of Rs 2623.405 million,

12. Construction & Extension of W/I of Pattan Minara Manthar Road (length: 26.25 km), R.Y Khan at the cost of Rs 398.557 million,

13. Widening Improvement of road from Mubarakpur to Jhangara Sharqi (length 25.00 km) in District Bahawalpur at the cost of Rs 470.240 million,

14. Widening Improvement of road from Iqbalnagar to Dulwan (length=26.10 Km) in District Khanewal at the cost of Rs 352.412 million,

15. Widening / Improvement of Fatehpur to Nawankot Road, length 32.50 Km in District Layyah at the cost of Rs 448.21 million and

16. Construction of 1st Part of Southern By-Pass Shujabad Multan from River Bank Chenab to Pull Syed Wali Siyalan Wali via Khan Garh Road and Canal Bank towards North Side to connect existing Multan Road, (length 9.20 km) Tehsil Shujabad District Multan at the cost of Rs 258.809 million.

These schemes were approved in the 16th meeting of Provincial Development Working Party of current fiscal year 2014-15 presided over by the Punjab Planning and Development Board Chairman, Muhammad Irfan Elahi, says P&D Spokesman.

Provincial Secretary P&D Waseem Ajmal Chaudhary, Chief Economist Dr Khalid Mushtaq, Members P&D Board Dr Naveed Ahmad Chaudhry, Agha waqar Javed, Ejaaz Hussain, Secretary, C&W Mian Mushtaq, Director General LDA Ahad Khan Cheema, Senior Chief co-ordination, P&D Javaid Latif and other senior representatives of the relevant Provincial Departments also attended the meeting
 
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Two-third part of Metro Bus Islamabad project completed

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The construction work on multi-billion mass transit Rawalpindi-Islamabad Metro Bus Project that aims to cater the transport problem in the twin cities is going on a smooth pace.

An official of the project while talking, said that so far around two thirds of the work has been completed since the launch of the project on March 23 this year. Giving details of the project he told that as many as three companies were carrying out the construction work of Metro project at their respective sites adding that the speed of the construction work was satisfactory.

Responding to a question, he said that the project would be completed by the end of this year as per target that would benefit thousands of passengers in the twin cities of Rawalpindi and Islamabad.

The construction work is in full swing as all the companies have almost completed the process of erecting pillars on the 8.6 kilometer elevated track from Flashman Chowk, Saddar to Faizabad he added.

He said that after the approval by the Planning Commission the work on Metro Bus Depot Project being constructed on 15 acres of land at H-9 sector of the Capital near Peshawar Mor was also going on at a fast pace.

The depot would accommodate more than 64 buses besides housing a restaurant diesel filling station service station and workshops. He said the go ahead approval from the Planning Commission had put the depot project on a swift track.

A total of 64 buses would ply on the metro bus route while over 50 buses would be parked in the depot at night time the official added. Residents of the twin cities have also high hopes from the project that would help solving their travelling problems between the twin cities.

While facing hardships due to the construction work on the main Murree Road the residents have also termed it a temporary inconvenience that would turn into blessing after its completion. The project starting from near Flashman Hotel on Mall Road and as per plan following the existing Murree Road up to Faizabad will turn left into the Federal territory and follow IJP Road up to 9th Avenue.

Pakistan’s first 100 MW solar PV project in Bahawalpur

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In Quaid-e-Azam Solar Energy Park in Bahawalpur of Pakistan, a 100 MW solar photovoltaic (PV) project is being constructed, Powerway Renewable Energy Co. Ltd. (Foshan, China) reports. The company is providing solar mounting systems and ground screw foundations, as well as construction services for this large project.
The project, which is reported to be the first large-scale ground-mounted solar PV plant in Pakistan, will be completed in 2014.
This project’s Engineering, Procurement and Construction (EPC), and Operation and Maintenance (O&M) are contracted to TBEA, a leading Chinese PV manufacturer and systems integrator.

Cooperation with Chinese project developer TBEA
Powerway has been cooperating with TBEA from the very early stages of the project, to provide reliable cost-saving mounting system designs, pull out tests for ground screw foundations, construction plans, logistical plans, and other engineering services.
“Thanks to Powerway’s highly efficient and professional team, along with our abundant solar farm building experience, we were lucky to win the fierce competitive bidding for this project. Pakistan has an energy shortfall of 6 GW, so the government has been striving recently to develop large-scale solar projects of up to 1 GW. It is a very promising market,” said Powerway’s CEO Benson Wu.
“Powerway has made good preparations and is set up for business in Pakistan. In 2013, we signed a cooperation agreement with Nizam Energy, the leading player in the Pakistan photovoltaic solar industry. They have a nationwide network of offices with reliable after sales service. This hand in hand relationship make us run quickly. Our local team, including sales, design, and engineering, knows the Pakistan market and its demand well, so we can provide comprehensive services to our customers in timely manner. Moreover, we have a series of piling machines standing by in Pakistan, because we believe that we can realize more PV developments in addition to this ongoing project. “

Civil works deal awarded for 128MW Keyal Khwar Hydropower Project

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Water and Power Development Authority (WAPDA) and a joint venture comprising Sinohydro and Hajvairy groups signed a contract of civil works for 128-megawatt (MW) Keyal Khwar Hydropower Project worth Rs 14.544 billion.
WAPDA is constructing this Hydropower Project on a tributary of Indus River in Kohistan district Khyber Pakhtunkhwa, about 310-kilometer from Islamabad.
The project will take 4 years to complete. On completion, Keyal Khwar will generate 418 million units of low-cost hydel electricity per annum.
European Investment Bank (EIP), the German Development Bank (KfW) and the government of Pakistan jointly fund the project.
KfW is providing 100 million euros while EIP is providing 97 million euros respectively for the purpose.
Executive Committee on National Economic Council in its meeting on September 13, 2014 approved the revised PC-1 of the project with a rationalised cost of Rs 27.8 billion. The German Development Bank had also issued a No Objection Letter to WAPDA for award of its civil works contract to the joint venture.
WAPDA member Water Muhammad Shoaib Iqbal and General Manager Sinohydro Duan Jianxia signed the contract on behalf their respective bodies.
WAPDA member Finance Anwar-ul-Haq, senior officers of WAPDA and representatives of joint venture were also present.

China to construct Replica of Shanghai Free Trade Zone in Gawadar

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Pak-China Joint Chamber of Commerce and Industry (PCJCCI) president Shah Faisal Afridi has said that China has planned to replicate the model of Shanghai free Trade Zone at Gawadar. He informed that under the Early Harvest Programme, China had planned to pump $50 billion up to 2017 into a host of projects in Gawadar including coal, solar and wind energy units enabling Gawadar to create a nexus between Pakistan, Iran, China and Central Asian States that would ultimately generate billions of dollars in revenues along with endurable job opportunities.
Faisal Afridi explicated that Shanghai free Trade zone is a perfect model to be implemented at Gwadar at the sideways of Economic Corridor. He said that the zone that was first used as a testing ground for a number of economic and social reforms in China showed marvelous success regarding economic growth. He added that SHFTZ incorporated numerous relaxations in different sectors. Under the FTZ’s new capital registration system, foreign investors are no longer required to contribute 15-percent capital within three months and full capital within two years of the establishment of a foreign invested enterprise (FIE).
Furthermore, “one-stop application processing platform” was introduced at the zone. This means that applicants may obtain all the necessary documents for company establishment in one place, in contrast with outside the Zone where applicants must run around between different authorities for the issuance of various certificates. Afridi added that under the new regulations, at SGFTZ foreign invested enterprises (FIEs) registered in the FTZ may now make foreign exchange capital account settlements at their own discretion, as opposed to under the previous rules, where settlements were restricted to those deemed to be “actual needs” by SAFE. The Free Trade Zone permitted yuan convertibility and unrestricted foreign currency exchange, and a tax-free period of 10 years for the businesses in the area as a means to simplify the process of foreign direct investment (FDI) and facilitate the management of capital accounts. Faisal Afridi said that, Pakistani and Chinese government is considering to introduce in Gwadar a Free Trade Zone similar to Shanghai free Trade zone in terms of special business incentives, the vision aims to turn tides on the region’s economic horizon.

Faisalabad Canal Express Way project approved by PDWP

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Provincial Development Working Party meeting (PDWP) has approved the mega project of Canal Express Way at a cost of Rs 6 billion and execution on this project would be started very soon by the City District Government Faisalabad. This was informed by DCO Noorul Amin Mengal during a news briefing. He said that comprehensive and effective presentation pertaining to the significance and importance of the project was given in the Provincial Development Working Party meeting and it agreed with the presentation and approved the project.

Giving details of the project DCO said that Canal Express Way was a first ever mega project in the history of Faisalabad which would bring a revolution in the economic and social sectors. He said that 24 km dual carriage Canal Express Way would be a signal free road which would start from Sahianwala Interchange M-III Motorway up to Gatwala Chowk.

The two flyovers at Railway Crossing and Khurrianwala Jhumra road would also be constructed besides providing underpass at Gatwala chowk under this project, he maintained. The DCO said that signal free travel facilities would be provided from Sahianwala Interchange to Samundri road and another underpass would also be constructed at Jhal Khanuana chowk Samundri road. He said that the huge investment in industrialisation was expected due to ×Canal Express Way as it was adjacent to mega M-III Industrial Estate
 
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HEC to spend Rs2.2bn on medical science research

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HEC will provide funding to public sector universities for research infrastructure development, establishment of hi-tech research labs and training of professionals. — File photo/AFP
ISLAMABAD: The Higher Education Commission (HEC) announced on Thursday to spend over Rs2.2 billion in the next three to four years for the promotion of research on health and medical sciences in the country.

HEC will provide funding to public sector universities for research infrastructure development, establishment of hi-tech research labs and training of professionals in specialised areas.

These facilities would be established in three institutions: Dow University of Health Sciences (DUHS), Karachi, Khyber Medical University (KMU), Peshawar and International Centre for Chemical and Biological Sciences (ICCBS), Karachi.

The Central Development Working Party (CDWP) has already approved HEC's proposal.

Tropical diseases such as malaria, leprosy leishminasis and viral diseases hepatitis, tuberculosis and dengue fever have been affecting masses in the country and apart from proper treatment facilities, there was a need to conduct research on these health issues, a HEC press statement said.

HEC has also planned to develop a core team of researchers in allied health sciences. Under the scheme, existing research facilities at ICCBS and the University of Karachi (UoK) will be strengthened by provision of modern research laboratory equipment.

Moreover, research institutes in pancreatic surgery and transplantation and in diabetic and endocrinology will be established at KMU.

CDWP has also approved a scheme for DUHS to enhance its capacity to enroll more research students in dental and oral health.

Pakistan Medical and Dental Council (PMDC) statistics showed that presently around 12,500 dental surgeons are registered in the country, implying one dental surgeon for 14,000 people as compared to World Health Organisation's (WHO) standard of one dental surgeon for at least 5,000 people.

The specialists in oral health are only 1,000 in Pakistan. The PMDC data depict the acute shortage of graduate and specialists in dental and oral health sciences. The facilities at DUHS will enhance its ability to enroll more postgraduate students at their campus.

HEC Director General Planning Dr Mazhar Saeed said that the commission has been using a balanced approach to develop research infrastructure in public-sector universities. HEC is also engaging universities to serve local communities, he added.

Inflation lowest since February

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ISLAMABAD: Pakistan’s inflation rate stood at 7.7 per cent last month, the lowest since February this year.

On a month-on-month basis, inflation measured through consumer price index (CPI) increased by 0.4pc in September from the previous month, Pakistan Bureau of Statistics (PBS) said on Wednesday.

Prices of manufactured items are on the rise since June 3 because of increase in the cost of energy and imposition of withholding tax on various products in the latest budget.

The government has kept prices of diesel and petrol unchanged for the past three months (July-September). Inflation during the quarter was 7.52pc. Expert say the decline in petroleum prices may bring down the overall inflation this month.

Core inflation, which is non-food and non-energy inflation, rose to 8.1pc in September 2014 from a year ago. It increased by 0.7pc in September on a month-on-month basis.

Total food inflation was at 7.2pc from a year ago, non-perishable food items witnessed a surge of 4.77pc and perishable items increased 11.95pc in September over last year.

Industrial goods also recorded an increase during the last month.

Food items whose prices rose include: tomatoes 33.88pc, sugar 6.33pc, gur 2.75pc, honey 2.32pc, pulse mash 2.24pc, onions 2.19pc, tea 1.42pc, and eggs 1.21pc.

On the other hand, non-food inflation rose to 8pc in September 2014 from a year ago.

Non-food items whose prices increased include: transport services 8.52pc, household servant 1.63pc, furniture 1.20pc, cleaning and laundry 1.19pc, tailoring 1.14pc, and home textile 1.12pc.

The PBS statistics showed that the inflation measured through sensitive price index was 5.48pc last month. Inflation in the wholesale manufactured products also increased to 4.17pc.

Speaking at a press conference on Wednesday, Federal Minister for Planning and Development Ahsan Iqbal said that prices of imported commodities increased because of valuation of the rupee “in the wake of sit-ins”.
 
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Renewable source: Letter of support granted to solar power project

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The project promises to demonstrate immense solar potential of the country which is 2.32 million megawatts and the utilisation of the same for large scale energy production. PHOTO: STOCK IMAGE

LAHORE:
The Alternative Energy Development Board (AEDB) has granted the country’s first letter of support (LOS) for solar power to Buksh Solar Private Limited (BSPL) for a 10-megawatt (MW) generation facility catering to Bahawalpur and Cholistan.


Buksh Solar is a special purpose vehicle of Buksh Energy Private Limited solely set up to facilitate the 10MW solar Independent Power Producer (IPP) that will sell electricity to Multan Electric Power Company (Mepco).

The power plant would use solar power as fuel to generate electricity; it will also use state-of-the-art technology producing 16,731MW electricity per annum.

“The 10MW solar IPP would present a successful case of resolving the energy crisis with a profitable, sustainable and environmentally-friendly solution for all stakeholders involved,” said Buksh Energy Chief Executive Officer Asim Buksh.

Additionally, BSPL has recently been awarded an unconditional acceptance of Upfront Tariff and Generation Licence approval from the National Electric and Power Regulatory Authority. The 10MW solar IPP will be the first solar project in the country demonstrated on a mega scale with a power purchase agreement with the power distribution companies (DISCOs).

The project promises to demonstrate immense solar potential of the country which is 2.32 million megawatts and the utilisation of the same for large scale energy production.

“Average dependable electricity capacity during the summer season reaches up to 15,000MW,” said Buksh. “Pakistan is losing up to three percent of its GDP because of frequent power shortages hence IPPs have to collaborate with the government in order to bring the energy crisis under control.”

Local sales of cement industry rise 9.85%

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Cement dispatches to domestic markets during September 2014 were 2.42 million tons compared with 2.12 million during the same month last year, depicting an increase of 13.86%. PHOTO: REUTERS/FILE

KARACHI:
Local sales of the cement industry posted a growth of 9.85% during the first quarter of the current fiscal year, compared with the same period previous year.


Exports, however, recorded a decline by 8.13% compared with exports during the first quarter previous year.

The overall situation during the first quarter of the current fiscal year showed a 4.68% growth compared to the same period last year. Cement dispatches to domestic markets during September 2014 were 2.42 million tons compared with 2.12 million during the same month last year, depicting an increase of 13.86%.

Exports during September 2014 were 730,000 tons against 816,000 tons during September 2013, showing a decline of 10.6%. Total dispatches during September 2014 were 3.15 million tons compared to 2.94 million tons during the same month last year.

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According to the All Pakistan Cement Manufacturers Association (APCMA), the industry has been struggling against the high duty structure, impractical imposition of maximum retail price (MRP), increasing import duties on coal, increasing power tariffs and axel load restrictions.

Additionally, an added issue for the industry is the growing trend of smuggling from Iran.

Domestic cement uptake in the southern region is being seriously affected due to unregulated smuggling of cement from Iran. Statistics showed that against a 10.8% increase in domestic sales in the northern region, domestic sales in the southern region showed an increase of only 5.4%.

Many CAA projects near completion


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Karachi - CAA DG Air Marshall (Retd) Mohammad Yousuf has disclosed that Pakistan Civil Aviation Authority will be installing new radars soon as the contract in this regard is expected to be signed within one month. He also informed that CAA had recovered billions of rupees outstanding from different airlines. He also said that the new Multan Airport will be completed by the end of this year with new security equipment. Talking about the substantial development projects, the DG said that new runways will be constructed very soon at the Islamabad Airport to deal with the increasing traffic. He informed the employees that extension of the terminal building at Quetta Airport will be completed within one year and new runway worth Rs3b is in the pipeline.


“Peshawar Airport will be revamped very soon in order to comply with the standards of ICAO,” he added.
DG CAA further said that ten new mechanical sweeper machines will be purchased by the end of November.
To facilitate the passengers, he said that boarding bridges will soon be installed at Karachi Airport.
While addressing the CAA employees he announced substantial additional increment in salaries and approval of bonus packages for the employees.
He observed that implementation of new service regulations which will play a vital role in reshaping the culture of the organisation. The new regulations will help in employees’ career growth and will ensure that they are inducted, posted and promoted on merit basis without any bias. He also stressed that there will be no compromise on discipline.
DG CAA said that it is imperative to raise our standards and compete with the rest of the world on an equal footing.
Air Marshall (Retd) Mohammad Yousuf said that special attention is being paid for the training and development of employees so that they could be able to nourish and polish their skills which will help them in increasing their productivity. He further added that efforts were underway to increase the standards of CAA schools and improve the conditions of CAA housing society.

Ecnec approves 220 KV Sub-Station Chakdra (PC-I) worth Rs4.39b


ISLAMABAD - The Executive Committee of the National Economic Council (ECNEC) on Thursday approved establishing a 220 KV Sub Station Chakdra (PC-I) at a total cost of Rs.4397.34 million with Foreign Exchange Component (FEC) of Rs1916.86 million.
The Finance Minister, Senator Ishaq Dar chaired meeting of the Executive Committee of the National Economic Council (ECNEC) here on Thursday. The ECNEC has approved the proposal of the Ministry of Water and Power for establishing a 220 KV Sub Station Chakdra (PC-I) at a total cost of Rs.4397.34 million with FEC of Rs.1916.86 million. The project aims at installation of new 220 KV substation at Chakdara along with its allied transmission lines to meet growing power demand of areas including Dir, Malkand, Mardan, Swat and Dargai under the jurisdiction of PESCO.
The meeting also discussed and approved the project of the KP Government for Integration of Health Services Delivery with Special Focus on MNCH, LHW, EPI and Nutrition Programme (USAID and DFID Assisted). The project envisages integration of three devolved vertical health programmes viz. EPI, MNCH, Family Planning & PHC Programme (LHW Programme) and Nutrition Programme for provision of primary health care without duplication of resources. Federal Government shall keep on financing the LHW Programme till 30.6.2015 in accordance with the decision of CCI taken on 28th April 2011. Any additional demand of funds by the provincial governments shall be examined by the Ministry of Planning, Development and Reforms. Matter of federal financing of LHW Programme beyond 2015 i.e. up to 2017 shall be discussed / decided in the next NFC Award, the meeting was informed.

Gul Ahmed Textile profits up 65pc in FY14
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Gul Ahmed Textile Mills Limited (GATM) announced its full-year FY14 result on Monday posting net profit-after-tax of Rs 1.23 billion (earnings per share of Rs 6.75) up 65 per cent as compared to Rs 711 million (EPS of Rs 4.09) in FY13, a company statement said. The result also accompanied a final cash dividend of Rs 1.5 per share and a bonus of 25 per cent.

“The result was in line with our estimates,” said Jehanzaib Zafar, an analyst at BMA Capital.

The increase in profitability can be attributed to a 25 per cent increase in gross profit due to better volumetric off-take, a eight per cent year-on-year decrease in the finance cost and other income posting a jump of 5.1 times to Rs 235 million.

In the fourth quarter of FY14 alone, the company posted a profit of Rs 231 million (EPS of Rs 1.26) as compared to the net profit-after-tax of Rs 451 million (EPS of Rs2.47) in 3QFY14.

The decline in profitability is attributable to five per cent quarter-on-quarter appreciation in the rupee value against the dollar and higher taxation.

OGDCL holds road-show to lure global investors
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The Oil and Gas Development Company Limited (OGDCL) announced on Thursday the launch of a secondary offering of its ordinary shares and Global Depositary Shares (GDSs) representing shares and the commencement of an international investor road-show.

“Over the next two weeks, we will be visiting international investors around the world to raise awareness of this offer in our shares and the opportunity that OGDCL represents as the largest upstream player in Pakistan,” said Muhammad Rafi, Managing Director and Chief Executive Officer of OGDCL.

In addition to the company’s large reserves base, attractive portfolio of exploration acreage and stable production profile, the OGDCL had a proven track record of creating shareholder value, the CEO added.

The offer will represent up to 10 per cent of the government of Pakistan’s shareholding in OGDCL comprising up to 322,460,900 shares, which corresponds to 7.5 per cent of the total share capital of the company.

Based on the closing share price of OGDCL shares on October 1, the offering will be valued at approximately Rs 80.796 billion or $ 788 million.

The offer consists of (a) an international institutional offering (the “International Institutional Offer”), in the form of shares and GDSs, to international institutional investors, including: (i) to Qualified Institutional Buyers in the United States (“US”), as defined in and in reliance on Rule 144A of the US Securities Act of 1993, as amended (the “Securities Act”); and (ii) outside the US, to certain persons in offshore transactions under Regulation S of the Securities Act, (b) a domestic institutional offering (the “Domestic Institutional Offer”) of shares to institutional and high net worth individual investors; and (c) a domestic public offering (the “Domestic Public Offer”) of shares to the general public including a portion reserved for OGDCL employees.

The shares are listed and traded on the Karachi Stock Exchange, Lahore Stock Exchange and the Islamabad Stock Exchange under the symbol “OGDC”.

The GDSs are listed on the London Stock Exchange with each GDS representing 10 shares under the symbol “OGDC”.

The price for the shares and GDSs offered would be fixed following the investor road-show and book-building process that would, respectively, commence on October 2 and 9.

EU launches Pakistan Leather Competitiveness Improvement Program
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Official says programme aims at increasing the competitiveness of the Pakistani leather product sector by building capacity, training, improving market access and product diversification

Bernard Francois, Head of Cooperation, Delegation of the European Union (EU) to Pakistan on Tuesday inaugurated the EU funded “Pakistan Leather Competitiveness Improvement Program (PLCIP)” under its Trade Related Technical Assistance Programme.

The programme will help boost growth in the leather sector, which has been stagnant or declining for the past few years.

“Under the TRTA III programme, the European Union is pleased to launch the Pakistan Leather Competitiveness Improvement Programme, which is focused on the value added leather sector of Pakistan. The programme aims at increasing the competitiveness of the Pakistani leather product sector by building capacity, training, improving market access and product diversification.” said Francois during his keynote speech at the ceremony.

“The programme will engage actors from the leather industry primarily from leather garments, gloves and footwear sectors, and carry out initiatives to promote competitiveness improvements and export diversification.

In the wake of the current incentives given by the EU, which includes the GSP plus status for Pakistan, the value added leather sector needs to seize the opportunity and become an even greater export earner for Pakistan,” Fran‡ois added.

The Pakistani leather sector is a large export earner, with total exports of $1,151 million (approximately $840 million) in the latest financial year.

However, the sector is not keeping up with regional competitors, and the industry has difficulties coping with the changing demands of the international market.

Although Pakistan is a strong international player in the leather apparel and accessories sector (including leather clothing accessories and gloves) controlling 7.6% of the world trade; in the footwear sector, which is 73% of the overall global leather industry, Pakistan has only had a negligible share for the past several years.

The assistance of the PLCIP will go a long way in providing technical training and knowhow to the Pakistani leather exporters to address the challenging needs of the international market.

Pak’s pharmaceutical exports likely to touch $ 2000m by 2018
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Pakistan’s pharmaceutical exports are presently over $ 800 million, annually, expected to touch $ 2000 million mark by 2018.

Member Senate Standing Committee on National Health Services, Regulations and Coordination, Senator Abdul Haseeb Khan, said this while talking to media at Karachi Press Club on Thursday.

He said existing laws be strictly implemented in letter and spirit to check and eliminate manufacturing and sale of spurious and substandard drugs in the country.

He recalled that he himself was one of the creators of Drug Regulatory Authority Pakistan (DRAP), Act 2012.

The law on Drugs of 1976 was very simple, but improvement was being brought in it gradually, he added. He said all drugs manufacturers were requested to provide the lists of their products, so as to enlist the same, in the legislation process.

Bringing improvement in the laws enacted on drugs, was underway, and opinions of all stakeholders will also be incorporated in this regard, he added. Senator Abdul Haseeb Khan, who is also chairman of a private pharmaceutical company, called for need to implement the law to curb drugs counterfeiting and sale and manufacturing of sub-standard drugs.

He told a questioner that unethical marketing practices were being used by different pharmaceutical companies in Pakistan which was needed to be checked.

PIA acquires two Boeing aircraft on wet lease
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Both aircraft have been acquired through Turkish Airlines and the agreement entails use of aircraft as well as provision of pilots and cabin crew, along with maintenance and insurance facilities

Two aircraft of Pakistan International Airlines (PIA) acquired through the wet lease programme have arrived in Karachi.

Both aircraft have been acquired through Turkish Airlines and the agreement entails the use of aircraft as well as provision of pilots and cabin crew, along with maintenance and insurance facilities. This is in contrast with the dry lease programme in which only aircraft are provided.

Turkey had agreed to provide four Boeing 737-800 (180-seater) aircraft to the PIA under the program with the management of the national flag carrier aiming at a turnaround through acquisition of planes on dry and wet leases.

Turkish Airline will provide Pakistan with all four aircraft by the end of this year.

A spokesperson for Managing Director PIA Shahnawaz Rehman said the 737-800 (180-seater) aircraft are fuel efficient, adding that the planes would be assigned both domestic and international routes.

The spokesperson added that the induction of these planes in the fleet would help increase overall revenues.

The arrival of the two aircraft comes days after Pakistan’s privatisation czar Mohammad Zubair told Reuters in an interview that Pakistan was planning to split PIA into two companies and sell control of the core business to a global airline over the next 18 months.

The cash-strapped airline has some 17,000 employees but just 36 aircraft — and 10 of them are grounded due to a lack of spare parts.
 
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