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Fuel and Energy: Pakistan

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The Attor-ney General for Pakistan informed the Supreme Court on Tuesday that there existed no mechanism to determine the amount of electricity drawn by distribution companies (Discos) from the national grid. A 3-judge bench led by Chief Justice Iftikhar Muhammad Chaudhry resumed the hearing of a suo motu case on unprecedented loadshedding in the country.

The Ambassador of Republic of Korea Choongjoo Choi called on Federal Minister for Finance Senator Mohammad Ishaq Dar in his office. The Finance Minister on the occasion said that relations between Pakistan and Republic of Korea have always been warm and cordial. Pakistan values its relationship with Republic of Korea very much. Both the countries have been close to each other historically. The friendships between the two countries will get further strengthened with every passing day.
Sindh government has placed ending energy crisis, restoring peace in the province and creation of new jobs on top of its priorities' list it set for the next fiscal year. At a post-budget press conference, held at CM Sindh House on Tuesday, Advisor to Chief Minister on Finance, Syed Murad Ali Shah, said that the government would satisfy the energy demands of the province in the next five years.
Former Federal Minister for Water and Power, Naveed Qamar on Tuesday cautioned that Pakistan would have to pay billions of dollars as fine to Iran, if it does not fulfil the Iran-Pakistan gas pipeline project pact obligations. Naveed Qamar of Pakistan Peoples Party (PPP) while talking on the floor of the National Assembly informed the lawmakers that Pakistan would have to pay billions of dollars as a plenty, if gas was not imported from Iran in 2014.
The Board of Directors (BoD) of Oil and Gas Development Company Limited (OGDCL) has approved a total 35 percent increase in the salaries of OGDCL employees along with an increase of 20 percent in house rent, while the workers union has rejected the 35 percent increase in salaries and has asked the management to give them a 40 percent raise.
LG Electronics (LG), a global leader and technology innovator, has continued to push the barrier in consumer electronics with the launch of its flagship 2013 Smart models in Home Entertainment and Appliances here the other day. At the heart of LG's innovative new smart features include the 55-inch Cinema 3D Smart TV (55LA8600), the Linear Door-in-Door refrigerator and the 6 Motion(tm) Direct Drive washing machines.
Prime Min-ister Nawaz Sharif is scheduled to visit the site of Neelum-Jhelum hydro power project on Wednesday. The Prime Minister will also receive a briefing on the mega Neelum-Jhelum Hydro Power Project, which is of immense national importance, a press release issued by the PM House here said. The project which is in the vicinity of Muzaffarabad, envisages the diversion of Neelum river water through a tunnel and after producing power, out-falling into Jhelum river.

 



 
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Banking Review 2012

Annual2011/12
Foreign Debt $65.562bn
Per Cap Income $1,372
GDP Growth 3.7%
Average CPI 10.08%
MonthlyMay
Trade Balance $-2.171 bln
Exports $2.175 bln
Imports $4.346 bln
WeeklyJune 17, 2013
Reserves $11.446 bln