Pakistan Economy - News & Updates - Archive

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Wind energy does miracle in Sindh villages ​

Locally-manufactured wind turbines costing Rs0.16m each lit up four small villages​

Wednesday, May 21, 2008

KARACHI: Given the fact that Pakistan is facing a power shortfall of 4,000MW, it is heartening to see that the Sindh Rural Support Programme (SRSP), a Hyderabad-based non-governmental organisation (NGO) has illuminated four small villages in Jati in the Thatta district, some 150 kms from Karachi, through installing wind turbines, giving a cue that it is time to tap alternative sources of energy.

The villages include Raj Sheikh Bachal, Mian Abdul Karim Jat, Abdullah Jat and Mohammad Umar Thahmein and have average 26 houses each.

“Each wind turbine cost us Rs160,000 and was acquired from a Karachi-based private firm,” Dr Yameen Memon, Trustee of SRSP told The News.

The inhabitants of these villages, comprising poor farmers and fisherfolk, had never dreamt of getting electricity and are extremely happy.

“We don’t face load-shedding,” said Ahmed Ajeeb, 33, hailing from Abdullah Jat village. “Now our children can study, do their homework and can play even during the night and our women can continue embroidery work,” he said.

Each household saves Rs75 every month that is deposited in a bank to meet any exigency. The villagers sow rice, wheat, sugarcane and oilseeds and farmlands are dotted with mango, neem, conocorpus and eucalyptus trees. There is also abundance of devi bushes in the area.

However, since Jati happens to be at the tail end of River Indus, there is acute shortage of freshwater.

“We don’t know when we will get water. But when it comes, we practice agriculture. I own eight acres of land but cultivate only two acres because of scarcity of water,” said Gul Mohammad, 25, an inhabitant of Abdullah Jat village.

“Last year I cultivated rice on my land but most of it is lying barren this year because there is no water,” he said.

But people have not lost hope. “Some of our requirement will be fulfilled by Almighty through rains while the rest will come through the canal,” said Mammon Lodho, 60, a farmer in Mammon Lodho village.

“We received water a month ago. Now we are being told that it will come on May 20 but we are not sure,” he said.

Thanks to wind turbines even the streetlights in the villages have started functioning.

“There are lots of snakes in our area and would frequently bite villagers but after we got electricity, we are relatively safe. Even stray dogs don’t bark now because they recognize us,” said Nisar Ahmed, 30, who lives in Umer Thahiem village.

“We feel as if we are living in cities,” he said. “Every village that has been illuminated has an average population of 150 people. The wind velocity here is 6-9 meter per second (MPS) and we have made sure that the wind turbines that are being used are locally-manufactured,” said Dr. Memon.

Given the fact that Pakistan has a 1700-km long coastal belt and pretty good wind velocity, perhaps the experiment could be replicated in vast areas of the country.

“I have discovered a wind corridor between Gharo and Keti Bundar that is 80km wide and 150km in depth and it can generate 4MW energy at every kilometer at a cost that is cheaper than coal,” said Brigadier (Rtd.) Dr. Naseem A. Khan, Vice Chancellor, Hamdard University and former secretary, Alternate Energy Development Board.

He said Pakistan should learn from India that is generating 1800MW from wind energy, equivalent to energy produced by Mangla Dam.

But he conceded that gas lobby was very strong in Pakistan and it discouraged tapping alternate sources of energy.

Wind energy does miracle in Sindh villages

 

[Neo]

GDP growth expected at 5.78pc ​

Wednesday, May 21, 2008

ISLAMABAD: Pakistan’s economic growth is likely to slip below a revised target of 6 per cent for the 2007/08 fiscal year, mainly because of lower manufacturing growth and farm output, a government official said on Tuesday.

“Gross domestic product is expected to grow by 5.78 per cent,” said a Finance Ministry official who declined to be identified as he is not authorised to talk to the media.

The projected GDP growth rate, calculated at a meeting of the National Accounts Committee on Monday, is based on data for the first nine months of the fiscal year to March and estimated figures for the remaining three months.

Pakistan had set a 7.2 per cent growth target for gross domestic product (GDP) at the beginning of the July-June fiscal year but revised that to 6 per cent this year, citing weakness in manufacturing and farm-sector growth.

The fiscal year ends on June 30 and the government is expected to announce its budget for 2008/09 early next month.

“Agriculture grew by merely 1.49 per cent against an original target of 4.8 per cent, mainly due to less-than-expected growth in major crops, wheat and cotton,” the official said.

Pakistan’s wheat output this year is expected to be 21.8 million tonnes against a target of 24 million. Early this year the government cut the target for cotton output to 11.6 million bales from a revised 12.8 million and an original target of 14.14 million.

Growth in large-scale manufacturing is estimated to drop to 4.84 per cent, compared with a target of 12.5 per cent.

The service sector was likely to post 8.16 per cent growth thanks to a robust 17 per cent expansion in the banking and insurance sector, the official said.

The government is due to give official growth figures and targets for next year later this month.

The economy, which has averaged annual growth of 7 per cent over the past four years, is under pressure from expanding fiscal and trade deficits, a weakening rupee and inflation, which touched a 30-year high of 17.21 per cent in April.

A coalition government that assumed power nearly two months ago after February elections blames the previous administration for “mismanaging” the economy.

GDP growth expected at 5.78pc

 

[Neo]

FPCCI angst over grim economic scenario ​

Wednesday, May 21, 2008

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has expressed deep concern over the current economic situation and emphasised on the need for an effective trade policy to check the abrupt inflationary trend, alarming condition of trade deficit, severe food and energy shortages in the country.

In a press statement, FPCCI said that Pakistan’s trade deficit has reached an all time high of $14.5 billion in the first nine month of current year as compared to $10 billion in the corresponding period last year, showing deterioration of 44 per cent.

It further added that inflation was 14.1 per cent in March 2008 compared to 11.2 per cent in February 2008 and 7.6 per cent in March of last year. During the first nine months (July-March 08), the average CPI-based inflation stood at 9.5 per cent as compared to 8 per cent last year.

Acting president of FPCCI, Raja Ahsan Fareed recommended long term planning adding that the forth coming trade policy should be designed such that it covers future scenario to avoid the possible impact of expected crises.

FPCCI angst over grim economic scenario

 

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Punjab sets 11m cotton bales target ​

Wednesday, May 21, 2008

LAHORE: The Punjab government has fixed a production target of 11 million cotton bales for this season, The News has learnt.

According to the Cotton Strategy for Productivity Enhancement and Work Plan 2008-09, the production target of core cotton growing area is 9,817.91 million bales.

The core area consists of 5,379.14 acres. The target set for non-core area is 1,084.46 million bales. This area comprises of 456.57 acres. The production target set for marginal area is 97.62 million bales. This area comprises of 91.46 acres. The study has been prepared by the Agriculture department.

The department has divided its course of action into four categories, targets of cotton production, production technology, education to farmers and work plan.

The department has asked the farmers of the core area to start sowing the crop from May 1 and that the process should be completed before June 7, to get the best produce. Core cotton growing areas are Multan, Khanewal, Vehari, Lodhran, Bahawalnagar, Bahawalpur, Dera Ghazi Khan, Rajanpur, Muzaffargarh, Layyah and Rahimyar Khan.

The non-core cotton growing area is Faisalabad, Jhang, Toba Take Singh, Sahiwal, Okara and Pakpattan. The department has told the farmers of the area that the sowing of the crop, which started from April 16, could not be continued after May 31.

For the marginal area constituting of the rest of the districts of Punjab, the department recommended sowing from April 16 to May 16.

However, agriculturists of the department have forbidden cotton sowing in the virus-hit areas including Vehari, Pakpattan, Sahiwal and Khanewal, before May 15.

The department has asked the farmers of the cotton growing area to discourage cultivation of okra, tomato, brinjal and other alternate plants, which can host viruses, including mealy bug and others.

For pest management of the crop, the department has asked the farmers to protect the crop from the mealy bug attack by ensuring complete cleanliness of ornamental and fruit plant nurseries. The farmers should also carry out pest scouting twice a week especially in the area that was affected by the pest attack last year, to protect the crop from the mealy bug attack.

Experts of the Agriculture department have asked cotton growers to destroy weeds from the fields and watercourses and suggested that the farmers should also destroy infested plants at an early stage, which usually causes mealy bug attacks on the fields.

Moreover, the Agricultural department has completed the training of its staff in ensuring quality control of pesticides and fertilisers. Besides, a task force has been constituted for strict implementation of the pesticide ordinance. The task force will check adulteration of pesticide and fertilisers and ensure labeling according to registration, quality emulsifiers and solvents in them.

To educate the farmers on technical details of the crop, the Agriculture department will arrange village-level training for the farmers in six phases. In the first phase, a special campaign will be launched to combat the attack of pink bollworm, American bollworm, white fly and cotton mealy bug. In the second phase, literature will be distributed among the farmers and print media will be used for awareness.

In this phase, an agriculture helpline, an agriculture website and special TV and radio programmes will also be used. The helpline will be a toll free number, 0800-15000, where problems of the farmers will be recorded from 8am to 2pm daily, followed by replies to the queries from 2pm to 4pm.

In other phases of the training, the farmers will be educated on cotton pests and diseases, pest management, pest scouting, their control and cotton contamination.

In case of emergencies, the agriculture department has also chalked out a plan to combat the pest attack, which includes a special emergency cell and a request for people to hold a special prayer session.

The emergency team will have technical experts of the Research Wing, and vehicles will be acquired from Adaptive Research, AARI and Agriculture Engineering and Water Management. Funds in this connection will be provided by the provincial government. To protect the cotton crop from the white fly attack, the farmers have been asked to use treated seed, avoid planting host plants near the cotton fields, eradicate weeds, and apply IGRs and soft pesticides at the early stages of attack and also to apply effective insecticides.

For the jassid attack, they have been asked to cultivate resistance varieties and spray insecticides at the ETL level. For aphid, the farmers have been advised to destroy host plants and avoid spraying insecticides if beneficial insects are present.

For thrips, spraying water on the crop at an early stage is suggested, other than the use of treated seed, destruction of alternate host plants, eradication of weeds and application of effective insecticides. For mites, in case of the early attack of this pest, spraying water on the crop has been suggested. —JR

Punjab sets 11m cotton bales target

 

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EC, SMEDA discuss technical education project ​

Wednesday, May 21, 2008

LAHORE: A delegation of the European (EC) Commission held a meeting with the experts of Small and Medium Enterprise Development Authority (SMEDA) to discuss a project for the development of technical and vocational education and training (TVET) sector in Pakistan.

According to a statement issued here on Tuesday, Chief Executive Officer Shahid Rashid headed the SMEDA team, while the EC team, comprising of representatives from DFID, ILO and GTZ, was led by Dirksellens.

The leader of the EC delegation informed that his team was busy in a meeting with the government and the private sector’s institutions, to develop the TVET sector with a view to contributing towards poverty alleviation and sustained social and economic development. “We have come to Pakistan to refine the findings of the Identification Mission that visited Pakistan in March,” he added.

Shahid Rashid gave a briefing to the visiting delegation on SMEDA’s contribution to develop the SME sector. He said that SMEDA was developing sectoral development strategies to curb poverty by generating employment opportunities and ensuring sustainable social and economic development in Pakistan.

EC, SMEDA discuss technical education project

 

[Neo]

Federal Budget 2008-09: Pro-poor, growth oriented budget on June 7: Naveed​

* Govt to provide adequate funding to PSDP for agriculture​

ISLAMABAD: The Federal Budget for 2008-09 will be presented in the National Assembly on June 7, 2008, with emphasis on development of infrastructure, agriculture and will be a pro-poor and growth oriented budget, Syed Naveed Qamar, Federal Minister for Finance and Revenue said.

He was addressing a corporate dinner hosted in honour of leading businessmen and entrepreneurs of Pakistan.

He said that that re-shuffle in the bureaucracy would be completed after the budget announcement, hinting the sidelining of the bureaucrats associated with the previous government’s economic regime.

“Those policies of the previous government which were not harmful for the economy will not be changed and would be further improved for achieving higher growth and reducing poverty,” he added.

The minister was confident that current economic imbalance and difficulties would be resolved with the cooperation and help of the private sector. “Private sector would remain engine of growth and the government would act as facilitator,” he said.

He said that Pakistan is an agricultural country and the government will allocate a hefty amount in the Public Sector Development Programme for the promotion of this sector. This would not only help achieve food security and reducing rural poverty but would also help diversify exports. He further informed that Oil and gas exploration, utilisation of national coal reserves and industrialisation would be promoted during the tenure of the present government.

He was confident that by discretionary policies and regulations Pakistan would be able to grow faster and with the help of business community all the economic targets would be achieved.

He dispelled the impressions that neither the government is going for another re-scheduling of foreign debt nor it has come across with any problems regarding foreign payment obligations.

He assured the corporate leaders that by the end of next year load shedding would be totally eliminated in the country. Elaborating on the power policy approved by the Federal Cabinet recently, the minister said that against the immediate requirements of 1,200MW power of the country, foreign as well local investors have expressed their interest in power generation up to 5,000MW. “This shows the confidence of the local as well as foreign investors in the new elected government and its policies,” the minister added.

The event from private sector was attended by CEO Telenor Tore Johnsen, CEO CM PAK Clan Li, MD Nestle Pakistan Trevor Clayton, MD Sanofl Avemtos, MD PCJCU Chen Jianbo, MD KASWEJ Limited Farid Masood, MD Barclavs Mohsin Nathani, GM OMV George Wacantel, MD Sileli Pakistan Zaiviji Ismail MD Metro Cash and Cary Giovanni Soranmo, Member Board of Directors Engro Group Khalid Subhani, CEO Indus Motor Parvez Ghais, CEO ICI Waqar Malik and Country Manager P& G Qaiser Shareef.

Daily Times - Leading News Resource of Pakistan

 

[Neo]

I hate to be harbinger of bad news but economic outlook for Pakistan looks bad. Energy is the lubricant which keeps the economy moving ahead. As of this morning crude oil has crossed $130 per bbl in the Far East markets and fuel oil is up $20 per metric ton. Pakistan imports approx 250 thousand tons of fuel oil per month (called furnace oil), another 250 thousand tons per month gas oil ( diesel) and approx 150 thousand barrels per day of crude oil.

on a very rough estimate, unless crude oil prices drop substantially (highly unlikely); oil import bill alone will exceed $10-billion!!. This is two thirds of our total export earnings. This implies a recession in Pakistan, may be globally as well.

I agree.

‘Pakistan needs 1,500MW to achieve GDP growth target’​

ISLAMABAD: There is no overnight solution to the power crisis and Pakistan needs to add 1,200MW to 1,500MW additional power per annum to achieve GDP growth target of 7 to 8 percent, said Rune Stroem, head energy operations Infrastructure Division Central and West Asia Department.

He said this after signing ceremony between government of Pakistan and ADB for a loan agreement of $220 million here under Multi-Tranche Financing Facility (MFF). The first tranche of the programme of $236 million was signed on January 16, 2007. The acting secretary Economic Affairs Division, Junaid Iqbal and Country Director ADB, Peter L Fedon signed the agreement.

He said government of Pakistan would have to take short-term and long-term measures to improve the chain of power flow, and more money is needed in power sector to achieve the growth of 7 to 8 percent of GDP. He said that Pakistan needs skill management, technical solutions and financial strength to control transmission losses of power distribution companies.

Fedon said that the discussion on the $1 billion loan with Pakistan was under way and ADB would provide loan for power sector including renewable energy and hydel projects including Bhasha Dam project. He said that ADB had provided $1.9 billion during the year 2007-08 and we are looking at $1 billion lending to Pakistan in 2009.

He said that the economic indicators of Pakistan are not healthy due to high oil and food prices along with the huge trade and fiscal deficits.

In order to have policy coordination, there is a need to develop better communications between Finance Ministry and State Bank of Pakistan.

“We are committed to provide financing for energy efficiency, renewable energy and hydel projects,” he said adding that the agreed loan of $220 million would help Pakistan to improve its current power system.

Daily Times - Leading News Resource of Pakistan

 

[Neo]

Pakistani rupee closes at record low ​

KARACHI: The Pakistani rupee fell to a record closing low against the dollar Tuesday due to buying by importers.

The dollar sold for Rs 69.90 in the interbank market, higher by 60 paisas from the previous day’s closing value.

Strangely, the rupee’s value was higher in the kerb market than in the interbank market. Usually, the rupee is weaker in the open currency market. The dollar stood at Rs 69.60 for buying and Rs 70 for selling Tuesday evening, according to a major foreign exchange company.

Payments of costly oil imports have been one of the major reasons of rupee’s slide.

The dollar has surged Rs 10 since the beginning of the fiscal year as the economy feels the brunt of rising oil prices, large trade and current account deficits and falling investment flows.

The central bank has been intervening in the market to support the rupee, but it has caused depletion in foreign exchange reserves and has also failed to keep the rupee protected. So the central bank is now relying on statements to calm the market. State Bank governor, Dr Shamshad Akhter recently told bankers that $3.5 billion inflows are expected, but even this has had little impact, and the rupee’s freefall continues. However, the changes in rules and regulations governing the business of exchange companies have brought about stability in the rupee’s value at their counters.

Daily Times - Leading News Resource of Pakistan

 

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Oil import bill grows by 47.04 percent in July-April ​

KARACHI: Country’s oil import bill swelled to $8.67 billion during the first ten months (July-April) of the current fiscal year, reflecting 47.04 percent growth, figures released by Federal Bureau of Statistics show.

The oil import stood at over $5.896 billion during the same period last year. The import of manufactured petroleum products registered 53.60 percent growth to $4.650 billion during the period under review against $3.027 billion in the corresponding period of previous year.

Crude petroleum oil import soared to $4.019 billion during July-April period of the current fiscal year, up by 40.11 percent against $2.868 billion during the same period of last year.

During the month of April this fiscal year, oil imports grew phenomenally by over 102.53 percent to $1.253 billion compared to $619.057 million same month last year.

This growth is attributed to the increase in import of manufactured petroleum products, which grew by over 93.46 percent and an increase of 113.69 percent in crude oil import.

However, oil imports increased by almost 16.48 percent during the month of April over month of March when $1.076 billion worth of oil products were imported.

According to analysts, increase in the oil import bill has been caused by skyrocketing prices of petroleum products in international market, which at the moment are not showing any signs of tapering off and analysts forecast further increase in imports of oil products in the coming months. International oil prices are flirting with $129 per barrel mark Tuesday and during the month of April prices remained well above $100 per barrel in the international market. “If the prices stayed at the same level during the remaining part of this fiscal year, oil import bill will balloon further”, they added.

Apart from value effect, the volume effect of oil imports has also been contributing in swelling of the import bill, as during the period under review, quantity of oil products showed substantial growth because of growing needs domestically, especially for power producing companies and electricity generating.

Last year, oil import bill crossed $7 billion, and analysts predict that it would be settling around $10 billion, if the prices in the international market did not fall in near future.

Machinery is the second largest component in the import bill after petroleum, as its import stood at $5.898 billion in July-April of this fiscal year, up by 7.68 percent from $5.477 billion last year.

This growth in the import bill of machinery was due to over 38.18 percent growth in the import of power generation machinery, 33.07 percent growth in construction and mining machinery, 14.31 percent growth in electrical machinery and apparatus and 9.93 percent in other machinery. Import of textile machinery dropped by 16.01 percent, office machinery by 7.35 percent while import of agriculture machinery and implements declined by14.37.

The import bill of agriculture and other chemicals was up 35.59 percent to $4.761 billion in July-April of current fiscal year compared to $3.511 billion in the corresponding period of last year. In this group, over 193.12 percent growth was recorded in fertilizers, over 12.30 percent in plastic material and over 21.63 percent in medical products.

The import of food items surged to $3.523 billion in the first ten months of current fiscal year as against $2.371 billion during the same period of last year, showing a growth of over 48.5 percent. This growth was mainly due to import of wheat, soyabean and palm oil.

The import bill of transport was down by 7.68 percent to $1.919 billion during the said period from $2.075 billion in the same period of previous year.

The total import bill reached to $32.061 billion during the first ten months of current financial year, reflecting a growth of over 28.28 percent as compared to $24.99 billion in the corresponding period of last year.

Daily Times - Leading News Resource of Pakistan

 

[Neo]

Textile export declines by 2.54 percent​

KARACHI: The declining trend in the exports of textile products continues and they decreased by 2.54 percent in July-April of the current financial as compared to the same period last year.

The data released by Federal Bureau of Statistics Tuesday showed that total textile exports were $8.649 billion in July-April period of 2007-08 compared to $8.875 billion in the same period of previous year. Almost all the products in the category of textile exports, particularly in value-added sector, performed disappointingly during the period under review, which turned the overall export of textile products to negative. In month of April, the export of textile products improved modestly by 1.65 percent to $872.103 million over $857.967 million the same month of last year, however, it declined by over 5.59 percent in the preceding month of March of this fiscal year, when 923.730 million worth of textile products were exported.

The break-up shows that exports of bedwear, tents, canvas and tarpaulin registered negative growth of 4.27 and 1.66 respectively during July-April of the current fiscal year. Export of cotton cloth, cotton carded and yarn other than cotton declined by 9, 8.44, and 3.22 percent, respectively during the period under review. The exports of knitwear and raw cotton have seen modest growth by 1.65 and 28.45 percent respectively.

Daily Times - Leading News Resource of Pakistan

 

[Neo]

Warid Telecom to invest additional $1bn by end of 2009​

KARACHI: Warid Telecom, an Abu Dhabi base mobile phone operator in Pakistan, will invest another $1 billion by the end of 2009 to expand its network, said Marwan Zawaydeh, its chief executive officer (CEO).

In an exclusive interview with Daily Times here on Tuesday, the CEO said, “Investments of Warid Telecom will reach $1.5 billion by end of this year and $2.5 billion by end of 2009.” “We are all geared up to achieve 2nd largest operator slot in Pakistan.”

Recently, Warid Telecom has awarded a $300 million contract to Sweden’s Ericsson to expand its network in Pakistan. The GSM network extension in Pakistan will give additional capacity for five million subscribers and coverage of additional 100 cities before the end of 2008.

Additionally, he said, Warid Telecom is signing two contracts with Huawei. The two agreements cover purchase and installation of 422 cell sites. “These agreements will add 137 cities and 27 roads to Warid Telecom’s coverage network before end 2008,” he added.

Replying to a question that Warid and Telenor started their operations together but now Telenor is leading in terms of subscribers Marwan said, the wonderful response we got after our commercial launch forced us to further strengthen our existing network.

For a limited time our attention was diverted from adding new locations and we had to work on our existing network enhancement due to a large number of subscribers joining us. However, this has been taken care of and the market dynamics will see a change in the near future. As for the subscribers, let me say here that we are enjoying the largest active post-paid subscriber’s base.

In a few years, we want to become the leading player in Pakistan in terms of subscriber base while we are still maintaining best slot for the network coverage, voice clarity and innovations. We have now made our commitments to become a credible challenger to the market-leader through excellent services and rapidly expanding coverage commitments. Once we have our cell sites in place throughout Pakistan, we will focus on the largest operator slot.

We have recently added a number of cities to our network and this marks the beginning of one of the largest network expansions in Pakistan.

After this latest addition, the number of destinations in the Warid Telecom network is now 250. As per company policy, Warid Telecom’s cities are only included as a ‘coverage destination’ after the provision of cell sites along with a fully functional sales and service centre, Franchise or retail outlets.

Talking on over all industry Marwan said, some key challenges for the industry are low ‘average revenue per unit’ (ARPU) and low usage of data services due to lack of exposure and insufficient knowledgeable customer base. Today’s consumers need the most comprehensive portfolio from value added products to brand loyalties. On the other hand, our consumers need to be educated about the utilisation of new products and services offered.

Another challenge for the mobile industry in Pakistan is the shortage of commercial power in many cities and villages. This makes it even more difficult and challenging for the operators as it slows down the network rollout and also increases operational costs.

In reply to Poor connectivity and frequent dropping of calls he said, Warid Telecom has deployed state of art mobile phone network for their subscribers. This results in premium connectivity, optimal voice clarity and a very transparent billing system, our subscribers are enjoying since the time of our launch. We are very confident in claiming that today Warid Telecom is enjoying the best quality network in Pakistan. Warid Telecom is the fastest growing GSM mobile company in Pakistan with 15 million subscribers and a network of over 250 cities/ 5000 destinations all over Pakistan. Warid Telecom is providing premium mobile phone connectivity with best value-added services and the optimal experience to its subscribers.

We have achieved our target of 15 million subscribers on our third year anniversary in May 2008. Furthermore, we have achieved highest number of post-paid subscribers with strong reputation for the best quality network and right on track by deploying latest technology in the GSM network. More than 75 indoor building solutions have been completed, providing a very good signal strength and high quality of service to airports, hotels and other commercial buildings.

Currently we have a nationwide network of 25 state-of-the-art sales and customer services centres, 3,00 franchise and more than 8,400 retain outlets to serve our subscribers.

Warid Telecom is also providing one of the largest and continuously growing international roaming network in over 129 destinations with roaming partnerships with 200 global operators. This results in premium connectivity and the optimal experience for our loyal users.

Warid Telecom Pakistan has entered in a strategic alliance with Singapore Telecom SingTel, they have acquired 30 percent equity stake in Warid Telecom Pakistan. This strategic partnership was formed to support Warid Telecom’s continued growth, enhance its market position in Pakistan’s telecom market and also to potentially provide Warid Telecom International with access to territories where Singapore Telecom has its presence.

Warid Telecom International has become one of the successful regional GSM operators by launching three more new GSM networks in Bangladesh, Uganda and Congo within a short span of 3 years.

Our Chairman, His Highness Sheikh Nahayan Mabarak Al Nahayan, has always placed a very heavy importance on quality and human resource development. This means for Warid to increase investment in expanding our GSM network using latest technology and on development of our human resource.

Daily Times - Leading News Resource of Pakistan

 

[Neo]

Thar Coal project to generate 5,000MW, says Gilani​

* PM says country facing power shortage of 3,000MW
* Says govt will install 2,200MW power generation units this year​

KARACHI: The government has chalked out a plan to generate 5,000 megawatts (MW) of electricity under the Thar Coal Power Generation Project, Prime Minister Syed Yousuf Raza Gilani said on Tuesday.

In his message on the second anniversary of the magazine Energy Update, Gilani said that the project’s power generation capacity would be enhanced to 20,000MW in the future.

The prime minister said the country was facing a serious power crisis with power shortages of 3,000MW and that the shortage was likely to go up to 4,000MW next year.

He said that the biggest-ever investment in the history of power sector of Pakistan was made during the government of the Pakistan People’s Party.

He said that the Power Policy of 1994 led to an additional 3,078MW of electricity production, which in return led to $3.5 billion investment.

The prime minister said that the government had devised and was implementing a plan to meet the energy needs of the country.

Power generation: “During this year, we shall install 2,200MW power generation units,” the prime minister announced.

He said the government was giving equal attention to the energy saving drive. “We plan to save 500MW through special load management campaigns, thereby scaling down load shedding,” he said.

He added that the Pakistan Electric Power Company (PEPCO) had been ordered to ensure the provision of 10 million energy saving bulbs at subsidised prices to consumers.

He praised the magazine for projecting various aspects of the energy sector and for highlighting the energy potential in Pakistan and other countries.

The prime minister hoped that the national media, including the Energy Update magazine, would support the government’s energy saving campaign to achieve energy security, which he said was vital for the sustainable growth of the national economy.

He congratulated the management and the editorial staff of the magazine on its second anniversary.

Meanwhile, Sindh Governor Dr Ishratul Ebad Khan said in his message that the government while taking all steps to improve the power supply to the industry, business and households, was also pushing for energy conservation.

He praised the magazine for highlighting the importance of energy in the country’s economic development through its analyses and reporting.

“It is heartening to note that the magazine is also trying to persuade the government by publishing foreign and local technical and research reports on the use and benefits of alternate sources of energy like wind and solar power,” the governor said. app

Daily Times - Leading News Resource of Pakistan

 

[Neo]

Power transmission line enhancement: ADB to lend $200 million ​

ISLAMABAD (May 21 2008): Asian Development Bank (ADB) will provide 200 million-dollar loan for power transmission line enhancement throughout the country. Pakistan and the Asian Development Bank here signed an agreement on Tuesday. ADB Country Director Peter L. Fedon and acting Secretary of Economic Affairs Division Junaid Iqbal Chaudhry signed the agreement on behalf of the government of Pakistan.

The project was an integral part of the 800 million-dollar investment programme for power transmission line enhancement throughout Pakistan. General Manager of NTDC Munawar Malik and senior officials of the bank and EAD also witnessed the agreement. The project aims at augmentation, rehabilitation and expansion of the primary power transmission system and to remove power transmission bottlenecks. The impact of the project will be an adequate and reliable power supply to a greater number of industrial, commercial and residential consumers.

THE PROJECT COMPRISES THE FOLLOWING 10 SUB-PROJECTS:

-- New 220kv Okara grid station with transmission line.

-- New 220kv Toba Tek Singh grid station with transmission line.

-- Static Var System (SVS) at Quetta.

-- Transformer extension at Ghazi Brotha 500kv.

-- New 500kv D.G.Khan grid station with transmission line.

-- New 220 KV Lora Lai grid station.

-- New 220kv Rohri grid Station and line bay extension at Shikarpur with transmission line (ENGRO/FFC IPPs power dispersal arrangement).

-- Jarwar-Sadiqabad 132 KV transmission line with line bay extension at Sadiqabad (power dispersal arrangement for Jarwar).

-- Augmentation at Ravi 220 KV.

-- Tools and construction/testing equipment.

Specifically, the project will expand and augment transmission capacity, and evacuate power from existing power stations.

The sub-projects will result in (i) an increase of approximately 5,800 mega-volt-amperes (MVA) of transformer capacity; (ii) increased security of supply to customers as compliance with security standards for planning and operation is strengthened and (iii) a more reliable primary transmission system.

This is a multi-tranche financing facility (MFF). The first tranche of the programme of 236 million dollars was signed on January 16, 2007. The ADB has recently introduced this MFF scheme, some of its benefits are as follows:

-- The MFF provides financial and operational flexibility to clients and ADB, and encourages the financing of operations only when these fall due and are ready for execution.

-- The use of the MFF binds clients to the delivery of specific warranties and representations covering safeguards, governance, capacity, sector policies and economic, social, financial, legal and technical aspects.

-- Under this scheme, the ADB provides finance over a longer-term period, covering key slices of investment programmes, and in this manner increase efficiency, productivity, critical mass, and in particular continuity to a given sector.

-- The MFF enables ADB and its clients to focus more on implementation issues and less on repeat processing tasks or actions.

-- Although the MFF precludes commitment charges on amounts that are not subject to executed loan agreements, the most important advantage to the clients is the positive impact on the balance sheet. Only financing required, in a given period is converted into assets and liabilities through a loan agreement.

-- The MFF allows both the parties to enter into a more constructive dialogue over policies, capacity issues and governance and the ADB to offer a continued presence in a sector.

Speaking on the occasion, Junaid Iqbal Chaudhry thanked the ADB for extending the loan for improvement and augmentation of power transmission lines to improve the supply of electricity in the country.

In his remarks, Perter Fedon said the ADB is committed to providing loan assistant to Pakistan in improving its power transmission and distribution system throughout Pakistan.

Business Recorder [Pakistan's First Financial Daily]

 

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Frauds by freight forwarders: $50 million export cargoes stuck at US ports ​

KARACHI (May 21 2008): Textile exporters said on Tuesday that their export consignments of some $50 million were stuck up at Canadian and US ports due to fraudulent freight forwarders and shipping companies.

Several exporters informed the Director of Federal Investigation Agency (FIA), Zubair Mehmood, at a meeting held at Pakistan Hosiery Manufacturers Association (PHMA) on Tuesday about the frauds committed by the shipping companies and freight forwarding companies.

Some six exporters have registered complaints for retrieval of their consignments with FIA. On these complaints, the agency has initiated inquiry into two cases and soon after the process is completed, it will lodge an FIR against the involved companies, Zubair told the exporters.

However, he said that the affected exporters should address the Director FIA in applications for getting the inquiries initiated, which is the formal procedure. He pointed out that many exporters do not know the procedure how to get the agency initiate a probe.

He apprised them that the agency had retrieved $0.3 million of exporters whose consignments had stuck up abroad. He said that he personally would pursue these cases, and assured them that every possible effort would be made in this regard. Urging the exporters, Zubair said that they should clearly study the agreement signed with shipping companies and freight forwarders so that they could pre-emptively act to foil such bids of frauds in future.

In reply to a question, he said that the agency has no powers to make laws; rather it just implements them. However, he said that exporters could play a role to help the government make laws to minimise fraud cases.

Earlier, PHMA Chairman Javed Bilwani and Rafiq Godil briefed the FIA Director about the issues faced by textile exporters. They said that the shipping companies register the names of freight forwarding companies on exporting consignments and instead exporters are provided with fake export documents.

Export consignments of some $50 million of over 100 exporters have stuck up at Canada and US only due to fraudulent freight forwarding and shipping companies. They said that State Bank of Pakistan has asked the exporters to pay back the money. Naqi Bari, Muhammad Shaffiq, Kamran Chandna and Younus Bin Ayub also attended the meeting.

Business Recorder [Pakistan's First Financial Daily]

 

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PBIF proposals for budget 2008-09: call to develop new industrial zones in Sindh​

KARACHI (May 21 2008): Pakistan Businessmen and Intellectual Forum (PBIF) President Mian Zahid Hussain has suggested that the government should develop new industrial zones in Sindh. In PBIF budget proposals for the fiscal year 2008-09, he also suggested that the government should allot land on discounted rates to boost industrialisation in the province.

He proposed that industrial land prices should be collected in 15 years equal instalments. For construction of industrial building, he proposed that finance for this purpose be provided on 6 percent mark-up rates. Zahid Hussain suggested that the government should provide 30 percent subsidy on water, gas and power bills of industrial units.

Regarding development of small and cottage industry, he noted that this sector need special attention of the government and suggested that this sector should be provided finance on small instalments and on discounted mark-up rates. He also suggested that the government should direct all banks in private and government sector to provide financial assistance to small and cottage industry on priority basis and at discounted mark-up.

Business Recorder [Pakistan's First Financial Daily]