Pakistan Economy - News & Updates - Archive

[Neo]

Qatar Telecom makes first acquisition in Pakistan
25 April 2007


DUBAI - Qatar Telecommunications Co. (Qtel) said on Wednesday it agreed to buy a telecom operator in Pakistan, its first in the country, as it seeks to expand outside its home base where it is losing its monopoly.

State-controlled Qtel and Saudi Arabia’s A.A.Turki Corp. for Trading and Contracting (Atco) agreed to buy 75 percent of Pakistan’s Burraq Telecom for $12.3 million, the companies said in a statement. The deal still needs regulatory approval.

Burraq Telecom offers international calling, wireless telephone and broadband Internet services, according to its Web site.

“The price is very reasonable to access to the Pakistani market, which is a fast-growing market with huge potential,” said Marc Hammoud, a telecom analyst at Dubai-based investment bank Shuaa Capital. “They can do a quick return on investment on this.” Pakistan is Asia’s fourth-most populous country.

As competition has risen at home, Gulf Arab telecom operators have been hunting for foreign assets. Asia is a top priority, Hammoud said.

Emirates Telecommunications Corp. (Etisalat) bought a 26 percent stake in Pakistan Telecommunication Co. Ltd. for $2.6 billion in 2005, and this year started a telecom software unit in India.

Qtel is expanding outside Qatar as the Gulf Arab state prepares to sell a second mobile phone licence this year, ending the last Arab monopoly. Qatar will also sell a second fixed-line licence.

In Asia, Qtel bought a 25 percent stake in Asia Mobile Holdings Pte. Ltd., a unit of Singapore Technologies Telemedia, in January.

It also took control of Kuwait’s National Mobile Telecommunications Co. (Wataniya) in March for $3.72 billion, the largest Gulf Arab telecom acquisition, giving customers in Kuwait, Saudi Arabia, Tunisia, Algeria, the Maldives and Iraq.

Qatar, home to 840,000 people and with a mobile penetration of more than 100 percent, invited expressions of interest in the country’s second-mobile licence this week.

http://www.khaleejtimes.com/Display...l/business_April632.xml&section=business&col=

 

[Neo]

Pakistan shelves $3.5b plan to import natural gas from Qatar
24 April 2007

ISLAMABAD — Pakistan government has shelved, at least for the time being, $3.5 billion plan that envisages import of natural gas from Qatar through 1830-km pipeline due to "non-availability of required gas quantities".

"It is not on the forefront", said secretary petroleum Ahmed Waqar adding "we are concentrating on IPI (Iran-Pakistan-India pipeline project) at the moment", he told this correspondent.

Sources in the petroleum ministry, however, said that the project sponsors Crescent Petroleum of Sharjah had informed the government of Pakistan that gas quantities required for the project were not available in Qatar in the next 8-10 years. They said Qatar had long term commitments for Liquefied Natural Gas (LNG) exports and could not spare enough volumes for a pipeline project.

Pakistan, these sources said, had asked Qatar to enhance gas availability for the project up to 2.6 billion cubic feet of gas per day (BCFD) but it was not ready to go beyond 1.6 BCFD. A gas sales and purchase agreement (GSPA) has been under consideration of Pakistan government for the last few years but it could not be signed for some reasons.

The gas import plan from Qatar to Pakistan through an offshore pipeline was originally floated by Sharjah based-Crescent in 1999 but talks failed in 1995 over gas tariff between the two nations and the project could not take off. The project re-emerged and in 2000 Crescent Petroleum signed a fresh heads of agreement for exclusive rights with Qatar government to export of gas to Pakistan.

It did not get top priority in Pakistan because of its relatively higher cost and technical complexities because of its deep sea route when compared with its competing import pipeline options from Iran and Turkmenistan.

Waqar said that Pakistan was still in the process of in-house consultations on the question of transit fee to be charged from India to let the gas pipeline pass through over 650-km territory in Pakistan.

Another official said a separate idea floated by Iran a few years ago of common user gas highway to dovetail Qatar's gas with Iranian for transportation to Pakistan and India had also been shelved even before serious discussions on the subject.

Pakistan's current gas shortfalls that hover around 300-350 mmcfd (million cubic feet of gas per day) are likely go up to 778 MMCFD by 2009-10 and rising to more than 11,000 MMCFD by 2025 because of rising needs and slowing down supplies at home coupled with no discoveries expected to be on line in the short-run.

Even with two gas pipeline projects and liquefied imports projected to materialise in the second half of the next decade, the country would still suffer more than 4,000 MMCFD of gas shortage between 2018 and 2025. New gas finds are not likely to be commercially productive before 2010-11.

The country's gas demand this year stands at about 4,000 MMCFD and will increase to 4,492 MMCFD in 2008 and further to 5,086 MMCFD in 2010. Compared with this, total supplies at 3,666 MMCFD this year would rise to 4,184 MMCFD next year and 4,308 in 2010. This means that the shortfall would range between 300 and 350 MMCFD in the next two years and increase to 778 MMCFD in 2010.

http://www.khaleejtimes.com/Display...l/business_April583.xml&section=business&col=

 

[Interceptor]

UAE firm to produce low-cost solar plants

ISLAMABAD (April 23 2007): Asharq Al-Awsat- leading UAE-based Dhabian group of companies will set up a manufacturing unit to produce high quality but cheaper small solar and wind power plants in Gwadar industrial area. The Norwegian technology will be used to produce small solar and wind power plants which cost around $1000 each.

Each plant will generate electricity, sufficient to cater to the requirements of one village at a low cost, private TV channel reported.

http://www.brecorder.com/index.php?id=554674&currPageNo=1&query=&search=&term=&supDate=

Thats a lie I have seen cheaper solar penals and wind turbines else where.

 

[Interceptor]

If they just spend 3.5Bn$ on education that would give great improvements in economy.

 

[Owais]

Unemployment rate reduced to 6.2 percent: Shaukat

ISLAMABAD (April 26 2007): In his inaugural address at Pakistan Development Forum (PDF) 2007, Prime Minister Shaukat Aziz has said efforts were underway to make Pakistan a modern Islamic state having sound economy with a leading role in the new global world.

He said Pakistan has undergone a positive transformation, comprehensive and far-reaching reforms, which contributed to make the economic story of Pakistan turn-around a reality. He added that the government transformed a sagging economy and put it on the radar screen of the world in the last seven years.

The Prime Minister said "Pakistan has become one of the faster growing economies of Asia, sustaining robust growth rate of 7 percent for the last four years and this year it looks like that we will be even higher. He added that during the last five years Pakistan's economy size grew by 100 percent, per capita income was increasing.

He said Pakistan rate of investment in 2005-06 was 20 percent - the highest ever in last 12 years. Foreign investment touched highest level of 3.9 billion dollar in our history. and will reach 6 billion dollar by the end of the fiscal year. He added that Goldman Sachs in a recent study have included Pakistan in the Next-11, a group of eleven countries with a high growth potential.

He said the government was following paradigm of shared and equitable growth and fruits of economic growth were reaching to all segments of society. He claimed that unemployment rate in Pakistan has reduced from 8.3 percent in 2001-02 to 6.2 percent in 2005-06 and about 5 million new jobs were added during 2003-06.

The Prime Minister said sustained economic growth has led to the emergence of a growing middle class and a significant reduction in poverty. The number of people below the poverty line has declined from 34.5 percent in 2001 to 23.9 percent in 2005 - in urban areas from 22.7 percent to 14.9 percent and in rural areas from 39.3 percent to 28.1 percent. In absolute terms, 13 million people have been lifted out of poverty, out of which 10.5 million belong to the rural areas.

The Prime minister maintained that rural landscape of Pakistan was changing fast as a result of rising income levels. It was evident from improvements in crop productivity - driven by government interventions to ensure balanced supply of fertiliser, efficient and equitable distribution of water, and increased credit availability - are augmenting agricultural incomes and benefiting all sections of the rural population.

Similarly, he said in the livestock sector, there has been a significant improvement in terms of number of animals and productivity. According to the Livestock Census 2006, which will be released soon, the number of cattle registered an annual increase of 4.5 percent. Major initiatives to boost meat and milk production are under way, which will open avenues of additional income for the rural population.

He said the government was committed to fostering a framework of grassroots institutions to bring more households in the organised fold through the process of social mobilisation.

He said Pakistan has become the fastest growing mobile phone market after China - with tele-density rising from 3 percent to over 35 percent. Similarly, motorbike sales are registering record levels in the rural areas. Rising incomes and new opportunities unleashed by economic growth are bringing a silent revolution in every nook and corner of the country.

Shaukat said "We have come a long way but still we have a long way to go. Significant progress has been achieved in all sectors of economy and governance, but new challenges are also emerging together with new opportunities. We believe in nimble and proactive governance and want to fully leverage our strengths and advantages."

He said strategic concept of National Trade Corridor - involving huge investment and public-private partnership - is being implemented. The project aims at upgrading and expanding our rail, road, air and port network as well as streamlining processes to save time and hassle.

This will reduce by half the travel time of commercial vehicles from Karachi to Peshawar as well as decrease operational cost and accidents rate. A number of mega projects are also in progress to ensure energy, water and food security.

He thanked the international donors for their valuable contribution in Pakistan's economic turnaround and hoped that they will keep on supporting it by financing the projects for even quicker progress to address the key issues like poverty and unemployment.
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[Owais]

Water releases raised to generate extra power

ISLAMABAD (April 26 2007): The federal government has decided to equalise inflows and outflows from Terbela reservoir immediately to generate additional 250 MW electricity without consulting with the provincial governments.

"We have decided to increase outflows to 60,000 cusecs daily against current outflows of 55,000 cusecs to meet national energy crisis," an official told Business Recorder. The official said that outflows would be taken to 65,000 cusecs in Terbela but there would be no change in outflows from Mangla.

The decision was taken at a meeting chaired by the Minister for Water and Power Liaquat Ali Jatoi which discussed possibility to enhance power generation through release of additional water from Terbela and Mangla dams in view of the forced outages at a number of plants of Wapda at Guddu, Jamshoro and Tarbela. Chairman Indus River System Authority (Irsa) brought out the total availability of water at 5.12 MAF, which is six times more than the previous year.

The inflows at Terbela and Mangla are very good and level is about 17 feet and 13 feet at both reservoirs, respectively above the maximum estimated level, he informed. The chairman and members of Irsa have agreed in view of the national requirements of power and to alleviate the difficulties of the consumers. Accordingly, the release of water will be increased so that additional 250 MW be available for hydel generation. This will reduce today's shortage to 350 MW from 600 MW.

Asked if any decision has been taken regarding release of more water from Mangla reservoir, the official said that there would be no change in this case. In reply to a question whether the provincial government have been taken into confidence before reaching this decision, the official said that how provinces could differ from this decision when the country is facing worst ever energy crisis.
http://brecorder.com/index.php?id=555990&currPageNo=2&query=&search=&term=&supDate=

 

[Owais]

Kuwaiti-Saudi group to invest in various sectors
ISLAMABAD (April 26 2007): A Kuwaiti-Saudi Group Midroc Tussonia (Pvt) Limited has initiated to invest $1.5 billion to $2.5 billion in power, oil & gas and real estate sectors over a period of next five to seven years.

Sheikh Humoud Al-Sabah President of the group informed during a meeting with Zahid Hamid, Federal Minister for Privatisation & Investment while heading a delegation here on Wednesday.

Zahid Hamid assured the delegation full assistance in the completion of their projects, which were at an advanced stage. He said that the improved macro economic indicators have created investors-friendly atmosphere and made Pakistan a safe haven for investors from around the globe. Pakistan and Kuwait enjoyed very close, historic and brotherly relations, which were being further strengthened and cemented through trade and investment activities between both the countries, he stated.

The minister informed the delegation that Pakistan accorded equal treatment and level playing field to both local and foreign investors. He further stated that liberal investment policy included 100 percent foreign equity in all economic sectors, with attractive incentives like remittances of capital, profits, royalty, technical and franchise fees without obtaining permission from the government. The foreign investment was fully protected and has statutory cover under Foreign Private Investment (Promotion & Protection) Act 1976 and Protection of Economic Reforms Act 1992, he stated.

He said that total foreign investment for the first nine months of the current financial year 2006-2007 ie from 1st July 2006 to 31st March 2007 was $5.56 billion, 67.5 percent more than the amount ($3.32 billion) during the corresponding period last year.

FDI of $3.86 billion was 72 percent higher than the amount ($2.24 billion) in the same period last year. Net portfolio investment of $1.70 billion including QGDC GDR receipts of $738 million was 58 percent higher than the amount ($1.08 billion) last year.-PR
http://brecorder.com/index.php?id=556071&currPageNo=1&query=&search=&term=&supDate=

 

[Owais]

Pakistan and EC close to finalising Third-Generation Agreement

ISLAMABAD (April 26 2007): Pakistan and the European Commission have reached very close to finalisation of Third-Generation Agreement, said Thorsten Bargfrede, First Secretary, EU Delegation of the European Commission to Pakistan on Wednesday.

Speaking at the launching ceremony of a report on 'Trade-Related Challenges Facing Exporters in Pakistan', he said that EU and Pakistan would finalise the agreement by the end of next month. He did not go into further details.

However, officials told Business Recorder that under the Third-Generation Agreement, illegal Pakistanis living in EU countries would be extradited and, in return, the EU could possibly provide market access to Pakistani goods. Some officials are also of the view that EU could provide some assistance--either financial or technical--to Pakistan for rehabilitation of Pakistanis to be sent back from the EU countries.

Bargfrede said the EU has been providing assistance to Pakistan for maintaining quality standards, capacity-building for compliance on the issues related to World Trade Organisation (WTO) and Intellectual Property Rights (IPR). He indicated that EU's economic assistance to Pakistan for these issues could be tripled in the next seven years, or so.

Dr Nadeemul Haq, Vice-Chancellor of Pakistan Institute of Development Economics (PIDE), said that Pakistan's export has grown during last couple of years in terms of numbers. Its share in GDP is still very low, he added. "The need of the hour is to deregulate the local market, and the government should retreat from the market," he said. Despite the considerable jump in the volume of exports serious challenges are still there, he added.

Federal Minister for Science and Technology Nauraiz Shakoor Khan said that the increasing focus on 'behind the border' measures, such as sanitary and phytosanitary (SPS) regulations and other technical barriers to trade represented serious challenges.

"Simply having lower tariffs in international market is not a sufficient solution for increasing exports by the Third World countries," he said as chief guest at the ceremony to launch the report.

He said that the new requirements have potentially far-reaching implications for domestic institutions and policy makers. He hailed the report for its suggestion of strengthening the Ministry of Science and Technology institutions like Pakistan Standards and Quality Control Authority (PSQCA), Pakistan National Accreditation Council (PNAC), National Physical and Standard Laboratory (NSPL), testing laboratories of Pakistan Council of Scientific and Industrial Research (PCSIR) and testing laboratories of Pakistan Council of Research in Water Resources (PCRWR).

He said his Ministry would endeavour to promote the growth of a competitive and internationally recognised laboratory testing, certification and accreditation services as well as supporting facilities including internationally traceable measurement services.

"Through these serious efforts, we will ensure the availability of internationally recognised conformity assessment services to support the exporting sector in Pakistan," the Minister added.
http://brecorder.com/index.php?id=555946&currPageNo=1&query=&search=&term=&supDate=

 

[Owais]

World Bank supports Sindh coastal area development

KETI BUNDER (April 25 2007): To review the progress of development work being undertaken there by Aga Khan Planning and Building Service, Pakistan (AKPBS,P), with the support of Pakistan Poverty Alleviation Fund (PPAF), World Bank Vice President for South Asia, Praful Patel, accompanied by other senior dignitaries of the Bank, on Tuesday visited Keti Bunder, Thatta.

A press release issued here said that as part of PPAF's Sindh Coastal Area Development Programme, AKPBS-P was undertaking an integrated area development programme for Keti Bunder and surrounding villages.

Not only infrastructure is being provided for water, sanitation, drainage, solid waste management, street pavement and lighting and playgrounds, but government is also being supported in their efforts to improve education and health facilities and operations.

The idea is to take a holistic approach to development so that tangible results are obtained and all aspects of people's lives are improved simultaneously for maximum complementarities and effectiveness.

Further, in order to ensure sustainability, the model requires that the communities are motivated to become the change agents and take the lead in implementing the development work by managing the execution as well as contributing partial cost of the project.

PPAF, with World Bank contribution, provides the rest of the fund and AKPBS,P supervises the project and provides technical assistance to the communities.

Patel noted that even though the project is still under implementation, there is visible change in both the physical condition of the town as well as, and more importantly, in the attitude and motivation of the people.

He was informed that the people, who used to move away from the town in the past, are now returning; health condition in the town is beginning to improve and the environment, which used to be polluted with stagnant sewerage water, is now clean and healthy.

People used to spend over 25 percent of their income on buying polluted water but will soon get water supply from a government project. Slow sand filter built by the project will make this water potable. Performing the opening ceremony of a children play area, Patel said: "Children are the future of any society and provision of recreational facilities for them along with basic amenities like clean drinking water, health care, education and sanitation ensures a vibrant community poised to realise its potential".

Earlier, community representatives welcomed the visitors and proudly showed them around the town. Praful met separately with the male and female community representatives and asked them various questions.-PR

http://brecorder.com/index.php?id=555629&currPageNo=3&query=&search=&term=&supDate=

 

[Owais]

Pakistan needs investment on human resources: WB official
ISLAMABAD: World Bank has emphasized investment in human resources and broader training opportunities for gradual poverty-reduction in Pakistan.

Vice President of World Bank Praful Patel addressing the inaugural session of Pakistan Development Forum here said rural development and manpower training in rural areas is essential for transfer of Pakistan’s economic gains to lower echelon of the population.

Emphasizing the importance of sustaining the progress he said the macroeconomic stability is and must remain the strategic foundation for Pakistan’s enhanced growth and poverty reduction prospects.
http://www.geo.tv/geonews/details.asp?id=5219&param=3

 

[Neo]

ADB to invest up to $3 bln in Pakistan in 2007

ISLAMABAD: April 26, 2007: The Asian Development Bank (ADB) said on Thursday it plans to provide funding of up to $3 billion for various infrastructure projects in Pakistan in 2007, doubling the amount loaned last year.

So far ADB has lent $16 billion to Pakistan, $6 billion of which is being spent on ongoing projects as the bank supported government policies that have helped transform the country into one of the fastest growing economies in the world.

"Last year, we supported Pakistan by the amount of $1.5 billion. This time we will go over that amount. Maybe we are going all the way to $2 to 3 billion in 2007," ADB vice president Liqun Jin told Reuters.

He said this year's funding would include $400 million to help rehabilitate parts of Kashmir and North West Frontier Province devastated by an earthquake in October, 2005, that killed 73,000 people in Pakistan.

Jin praised the government's second generation of economic reforms, though he added that Pakistan needed to further improve governance, the regulatory framework, and open its markets. "I would say the country should be more open because being open could help the country to be more competitive. By being open your private sector could be improving its efficiency internationally."

Pakistan averaged growth of 7 percent during the last four years and the government expects the economy will grow by between 7.0 and 7.7 percent this year.

"I think we have reason to believe that the growth is sustained," Jin said.

"Ever since I think since 1999, the growth of the economy seems to be on the very sustainable basis," he said referring to the year that General Musharraf came to power in a coup and appointed ex-Citibank executive Shaukat Aziz as finance minister, before promoting him to prime minister in 2004.

Jin said major investment was needed in the tribal areas where the government is struggling to counter sympathy for the Taliban insurgency in neighbouring Afghanistan.

"My personal view is, we should believe the majority of the people want development. They want peace for life. They would like to see there would be future for their children and they would co-operate closely with the donor community."

http://www.brecorder.com/

 

[Neo]

Donors term poverty, high inflation as major threats

ISLAMABAD (April 26 2007): The World Bank and other international donors on Wednesday termed poverty, high inflation, widening trade and current account deficit as Pakistan's major challenges, and suggested to the policy-makers that they should adopt a pro-poor approach to ensure that all segments of the society equally benefit from the economic prosperity.

The donors told the participants of Development Forum (PDF) 2007, of demographic divide and unleashing human capital can backfire if Pakistan failed in trickling down benefits of economic growth to downtrodden rural poor.

The World Bank Vice President, South Asia region, Praful Patel painted a very gloomy picture of the rural poor and claimed in his address at PDF inauguration session that rural poor in Pakistan were facing worst kind of poverty and the government should take them on board by passing on the benefits of economic development.

Patel said: "I visited Keti Bunder the other day and met many people who earn less than one dollar a day and I believe this would be true in many other areas of Pakistan as well." He said the question arises who is benefiting from the economic growth and why the poor were left out.

He said the government of Pakistan should do more to address the issue of hard core poverty by providing education, health and other basic facilities to the rural poor. He said Pakistan was reaping reforms' reward. Its cost of doing business is decreasing, and international investors are coming to Pakistan for investment.

But the lack of world class infrastructure in some sectors remains a concern. He said the National Trade Corridor Improvement Program (NTCIP) was Pakistan major initiative to improve ports, roads, rail and other linkage. He also termed power shortage as a big challenge for Pakistan.

He said the poor of Pakistan want to know how they benefit from a well managed current account deficit or investment in ports and dams. These are the citizens of Pakistan living day-to-day and struggling - and they need to see the links between the macro and the micro.

He said the people of coastal Sindh are among the poorest in the country. Asian Development Bank (ADB) Vice President Liqun Jin said Pakistan was committed to good governance and economic reforms, as well as sound macroeconomic management.

But it was facing serious challenges such as rising inflation rate and low investment in key areas such as education and health. He also demanded that Pakistan should do more to improve the living standard of low-income groups.

He said the benefit of growth should translate recent macroeconomic improvements into substantive betterment in the quality of lives of the poor. He added that it was encouraging that the Poverty Reduction Strategy Paper (PRSP) articulates a comprehensive strategy for poverty reduction.

He reiterated firm commitment that ADB would provide financing to Pakistan for rehabilitating and upgrading of existing infrastructure in irrigation, roads, and urban centres, as well as addressing critical gaps in the power sector. He said in addition to the approximately $840 million for transport sector during 2001-04, ADB will provide an additional $2.7 billion for the infrastructure sector during 2005-08.

He said ADB's involvement would help formulate sound policies to facilitate private-sector investment, improve access of SMEs to technical support services and financing in rural areas, facilitate market development for diversified rural-based and labour-intensive products, strengthen institutional capacity, and develop rural industry standards. "We are of the view that only a holistic approach could address the entrenched poverty and livelihood dynamics of Pakistan's rural areas."

Islamic Development Bank (IDB) President Dr Ahmed Mahammad Ali appreciated Pakistan's economic performance besides counting the challenges Pakistan was confronted with. He said it was collective responsibility of all stakeholders to help Islamabad achieve its MTDF goals.

He also demanded that Pakistan should do more for providing benefits of its economic turnaround to the poor and downtrodden segment of the society. He also suggested that Pakistan needed to invest in human resources to harness their full potential.

Dr Ahmed said IDB committed $502 million to Pakistan for earthquake rehabilitation and reconstruction and its 70 percent disbursement would complete by the end of 2007.

http://www.brecorder.com/index.php?id=555967&currPageNo=1&query=&search=&term=&supDate=

 

[Neo]

Trade with China to treble in five years

ISLAMABAD (April 26 2007): Pakistan's trade with China is to treble in the next five years, from five billion rupees to 15 billion rupees, as part of the consolidation of the 'time-tested, all-weather relationship with China.

According to private television channel report, 27 agreements were signed during the visit of Prime Minister Shaukat Aziz to China, during which he held discussions, focusing on military and satellite cooperation with President Hu Jintao.
http://www.brecorder.com/index.php?id=556076&currPageNo=1&query=&search=&term=&supDate=

 

[Neo]

Action plan on card for industrial growth

ISLAMABAD (April 26 2007): Minister for Science and Technology Chaudhry Nouraiz Shakoor Khan Wednesday said a national action plan will be prepared during Medium Term Development Framework (MTDF) period (2005-10) for rapid industrial growth through industrial technology development.

"The government is well aware of the challenges posed by the globalisation and the importance of export promotion in achieving the goals of economic development and prosperity." He was addressing a launching ceremony of a report on "trade related challenges facing exporters in Pakistan" here at Ministry of Planning and Development.

The minister said over the MTDF period, an average annual growth rate of 11.6 percent is envisaged in the manufacturing sector. A focused policy thrust would be adopted for raising the threshold levels of technology base, industrial diversification, value addition, productivity and product quality, physical and social infrastructure and standardisation and certification to match the growth requirements.

He said the present urban and industrial centres are not sufficient to support the envisaged large growth of the industrial sector. A number of industrial estates would be set up in every province with the necessary infrastructure and self-contained utilities and ancillary facilities, including common technology support centres, he added.

Nouraiz said small and medium industries have an important role in strengthening industrial linkages, in penetrating markets, generating export earnings and preparing future entrepreneurs.

The government is making all out efforts to create an enabling environment for producers and exporters, he said while urging the private sector to seize up the opportunity and rise up to the challenges posed by a highly competitive global economic environment. Referring to the report, he said it would be helpful in devising policies aimed at improving trade capacity of local exporters.

He assured his ministry through technological institutions and in close association with Pakistan development partners endeavour to promote the growth of a competitive and internationally recognised laboratory testing, certification and accreditation service.

Earlier, UN Industrial Development Organisation (UNIDO) representative in Pakistan Shadia Yousif Bakhait briefed the participants about the survey being conducted by Pakistan Institute of Development Economics and Federation of Chambers of Commerce and Industry (FPCCI).

She said over the last 10 to 15 years, Pakistan has taken concerted efforts to liberalise its international trade. Yet, Pakistani exporters continue to face trade related challenges due to longstanding structural weakness in the industrial and exporting sectors. The survey identified main constraints faced by Pakistani exporters in achieving compliance with international market requirements.

The report analyses the exporting behaviour of firms and the challenges pertaining to supply side, standards capacity and trading policy. It then provides possible options to alleviate them.

The report will be utilised to provide guidance in developing policy and capacity improvement strategies on how best Pakistan industrialists and exporters can meet trade restrictions and compliance requirements to address barriers to international trade.

The main recommendations of the report include issues relating to creating a conducive business environment, establishing conformity assessment infrastructure, strengthening supply capacity, trade facilitation measures and sectoral policy initiatives for textile, leather, agro process and fisheries sectors.

http://www.brecorder.com/index.php?id=556112&currPageNo=1&query=&search=&term=&supDate=

 

[Neo]

Another find, third this month!

Gas and condensate discovered

KARACHI (April 26 2007): The Oil and Gas Development Company Limited (OGDCL) has made a gas and condensate discovery from its exploratory well Kunnar West Well No 01A. The well is located at a distance of 577 meters in the west of Kunnar West Well No 01.

According to the company announcement sent to the Karachi Stock Exchange here on Wednesday, it was stated that Kunnar West Well No 01A structure was delineated in Kunnar mining lease area and the well was drilled down to a depth of 4065 meters. On the basis of open hole logs, two zones of massive sands of Lower Goru Formation were selected for testing. Production testing of Zone-1 (massive sands) of Lower Goru Formation started on April 23, 2007, which proved productive.

The short duration initial testing results are as choke size 32/64 inches, WHFP (PSI) 2480, condensate 170 bpd, gas 11.02 MMSCFD, water 20 BWPD and API gravity 44. The potential of additional zone-2 (massive sands) of Lower Goru Formation in the well will be tested shortly.

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