Pakistan rejects $2 billion investment in Thar coal

[53fd]

I hope this does not mean that these projects don't continue. Pakistan desperately needs to invest in these projects.

 

[Johnson Dsouza]

L Mittal is hardcore businessman...few years back he had refused to invest in india saying India does not have right atmosphere for business.....those who know Marwaris will never even think that they can have any other agenda except profit...

Pak should allow FDI for its own economic and strategic benefits...

 

[Imran Khan]

no thanks sir its will bring more controversies and problems GOP should damn do some work rather then begging and looting

 

[Omar1984]

Well what they do with the coal is not my concern. We are in no position to curtail India's growing economy anyway. What we must focus is to increase our growth rate which will ultimately lead to decrease in employment rate and higher tax collection. By this investment if we can achieve these goals I don't care if the coal is exported to India or any other nation.

PS: India already has abundance of coalfields and its not like they will die if they don't get this project in Pakistan... and if Lakshmi Mittal is interested to invest in Pakistan and if it is in the favour of Pakistan, why not go for it?

The world doesn't revolve around India, and India and Pakistan still are rivals with conflicting interests everywhere.

Let them invest in their own coal mines, if they also have coal. Why are they coming to us?

 

[Johnson Dsouza]

Well what they do with the coal is not my concern. We are in no position to curtail India's growing economy anyway. What we must focus is to increase our growth rate which will ultimately lead to decrease in employment rate and higher tax collection. By this investment if we can achieve these goals I don't care if the coal is exported to India or any other nation.

PS: India already has abundance of coalfields and its not like they will die if they don't get this project in Pakistan... and if Lakshmi Mittal is interested to invest in Pakistan and if it is in the favour of Pakistan, why not go for it?

rightly said.....even India exports Iron Ore to China even if it considers china as its number one enemy....so its all about pure business which brings in much needed foreign currency required to settle out own imports..

 

[Omar1984]

I hope this does not mean that these projects don't continue. Pakistan desperately needs to invest in these projects.

LATESTS NEWS:

KESC to generate 1100MW electricity till March 2012


Islamabad—Karachi Electric Supply Company CEO Tabish Gohar on Sunday said that KESC will increase its electricity generation capacity around 1100 MW till March 2012 through thar coal.

Talking to a private news channel, he said that Bin Qasim power plant is being converted on coal from which 400 MW cheap electricity will be generated for consumers in next two years.

He elaborated that Abrash Capital has invested 30 million in KESC in 3 years and an other amount of six million rupees is expected by next years.

It enhanced at least 8,50 Mw power generation and by the next march this figure will be increased to 1000 mw, he added.

To a question, he said that coal generated electricity is cheaper than that of furnace oil adding that coal generated electricty is Rs 07 per unit while regular electricity price is Rs 16 per unit.

He hoped that KESC will be generating 400 mw electricity from coal in next two years.

He said that we have an agreement with british company for the thar coal project, in this connection 300 MW cheaper electricity will be generated during next two years. He said that KESC to get 1100 MW additional power in next three-four years to end Load-shedding.


KESC to generate 1100MW electricity till March 2012

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Thar coal: First 50MW project almost complete

ISLAMABAD: The first 50 megawatts (MW) in the Thar coal gasification project has almost been completed and the development process is in progress, said Member of the Science and Technology Planning Commission, Dr Samar Mubarakmand, on Thursday.

Talking to a news channel, he said the project is to cost Rs8.9 billion with a foreign exchange component of Rs5.8 billion.

He said the success of the Thar coal project will lead to investment from leading international companies.

Published in The Express Tribune, November 25th, 2011



Thar coal: First 50MW project almost complete – The Express Tribune[/QUOTE]

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China to invest in coal sector of Pakistan

ISLAMABAD: Sino Resources Group Limited China showed interest in coal processing of removing moisture to turn it into high version coal, which is highly efficient in upgrading the commercial value of lignite.

The company also gave detailed presentation of the most advanced coiled tubing, drilling and nitrogen stimulation technologies. A six member delegation of Sino Group, Shaanxi Dingbian Lide Oil well technology Service Limited and China Cultural Heritage Foundation, led by Jane Geng, Chairman called on Zia Uddin, Executive Director General of Board of Investment (BOI).

The China Cultural Heritage Foundation members were interested to open up super stores in Islamabad for the availability of Chinese products in Pakistan.

This store will promote the Chinese products and culture in Pakistan to create a cultural bonding between the two countries.

In this regard, the delegation will meet the competent authority of Capital Development Authority for the allocation of the site and other acquisitions for the super stores.

Zia Uddin appreciated the efforts being made by the company for their investment plans and briefed that in order to attract investment in Thar, a comprehensive incentive package has been developed with consultation from all stakeholders, which included 20 percent IRR to firms, 30 years exemption on corporate tax, all custom duties on import of coal mining projects allowed at zero percent to reduce the initial capital investment, exemption on withholding tax to shareholder etc to reduce the initial capital investment. ppi


Daily Times - Leading News Resource of Pakistan

The thread http://www.defence.pk/forums/economy-development/38544-coal-reserves-pakistan-17.html is regularly updated. I know more can be done on this project but what do you expect PPP are in government.

 

[ashokdeiva]

The world doesn't revolve around India, and India and Pakistan still are rivals with conflicting interests everywhere.

Let them invest in their own coal mines, if they also have coal. Why are they coming to us?

in which fools paradise are you my friend, its business and he is not a INdian, he is a Indian born citizen of UK.
and now he is not or the GOI is not looking for your coal, he or the GOI is looking for oppertunity to promote bilatral ties starting with trade and business.

now you'll come up with the argument that we don't want friendship and all is want to be the NAWABS of india ruling the Hindus.
i cannot or even the great God Allah cannot himself help you from getting you out of the sh$t hole you are into.

 

[TOPGUN]

Appreciate the offer but not gona happen sorry.. we got China to work with on that and many many other things

 

[SQ8]

Stupid move, typical paranoid establishment mentality.
By becoming an economic supplier you involve the nation into depending upon your resources.YOU arent able to use them properly, why not let somebody who wants it relatively cheap come in and take it.
Here is an addict to a substance, you are offering it cheaper to them than the rest..
They will come.. and come again, in case of another diplomatic issue you may stem the supply.
Result: the addict goes crazy for his high and may bend a little more than expected.
Stupid Stupid move.

 

[Imran Khan]

in which fools paradise are you my friend, its business and he is not a INdian, he is a Indian born citizen of UK.
and now he is not or the GOI is not looking for your coal, he or the GOI is looking for oppertunity to promote bilatral ties starting with trade and business.

now you'll come up with the argument that we don't want friendship and all is want to be the NAWABS of india ruling the Hindus.
i cannot or even the great God Allah cannot himself help you from getting you out of the sh$t hole you are into.

yaar its simple case of lack of trust . try to understand public will got this news as gov sold pak assets to india and any tom herry dick go SC and get stay on it file a case

 

[SQ8]

yaar its simple case of lack of trust . try to understand public will got this news as gov sold pak assets to india and any tom herry dick go SC and get stay on it file a case

True, the problem doesn't just lie with those that took the decision.
You are dealing with what is generally a extremely short sighted nation with extreme knee jerk tendencies.

The saying "Penny wise, Pound foolish" was almost made for Pakistan.

 

[ashokdeiva]

yaar its simple case of lack of trust . try to understand public will got this news as gov sold pak assets to india and any tom herry dick go SC and get stay on it file a case

i understand that my brother, that is the beauty of democracy, but not too long will the Government take to prove to the court what decession it has made is not a emotional one but a very inteligent one to promote the economy, reduce undemployment of Pakistan, etc.

---------- Post added at 01:21 AM ---------- Previous post was at 01:20 AM ----------

True, the problem doesn't just lie with those that took the decision.
You are dealing with what is generally a extremely short sighted nation with extreme knee jerk tendencies.

The saying "Penny wise, Pound foolish" was almost made for Pakistan.

i dont believe that brother, the educate masses are more wiser and they belive in peace and prosperity for Pakistan as you can see in this thread it self only 3 Pakistani members have wecomed the rejection, the rest all are inteligent and business minded.

 

[Johnson Dsouza]

yaar its simple case of lack of trust . try to understand public will got this news as gov sold pak assets to india and any tom herry dick go SC and get stay on it file a case

Imran bhai....it was funny but true....but we really need to make a move and make people get used to such news so that they get comfortable with it....just like MFN few days back...which was a very good move by Pak....this way we can build trust between our two countries and people of our country.....so, let cry babies make noise, we will move on towards better future for our next generation who hopefully will not spend hours in defecnce forum....

 

[Abhishek_]

yaar its simple case of lack of trust . try to understand public will got this news as gov sold pak assets to india and any tom herry dick go SC and get stay on it file a case

can someone go to SC to challenge this decision, on grounds of inviting FDI to the country?

 

[Imran Khan]

i understand that my brother, that is the beauty of democracy, but not too long will the Government take to prove to the court what decession it has made is not a emotional one but a very inteligent one to promote the economy, reduce undemployment of Pakistan, etc.

---------- Post added at 01:21 AM ---------- Previous post was at 01:20 AM ----------


i dont believe that brother, the educate masses are more wiser and they belive in peace and prosperity for Pakistan as you can see in this thread it self only 3 Pakistani members have wecomed the rejection, the rest all are inteligent and business minded.

gov is busy in some other sh1t yaar they are not worthy to call gov if they were public gov no mess was happen you know it they make loadsheding and in 24 hours they stop it ? hehehe