08242016Wed
Last update: Wed, 24 Aug 2016 04pm

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Chairman, Water and Power Development Authority (Wapda) Zafar Mehmood, a strong advocate for construction of highly controversial Kalabagh Dam project, has resigned just six days after he held a meeting with Prime Minister Nawaz Sharif on the reasons for the delays in implementation of hydropower projects.

Indus River System Authority (Irsa) on Monday took a serious note of Wapda's mishandling of Tarbela's filling to a maxim level of 1550 feet and decided to give water to Punjab and Sindh as per actual allocations instead of increased quantity. This is the crux of an emergency meeting of Irsa Authority presided over by Chairman Irsa, Rao Irshad, which was attended by all the members.
A meeting of the Executive Committee of the National Economic Council (ECNEC) on Monday approved seven projects - six projects of transport sector and one project of water sector - with initial estimated cost of Rs 231 billion. The meeting presided over by Finance Minister Ishaq Dar, was also submitted a revised project of Hassanabdal Burhan-Havelian Expressway with an additional line on either side.
Equities declined by 41 points or 0.10 percent to 39,458 points weighed mainly by selling pressure by institutions Monday. The benchmark KSE-100 index showed volatility in the intraday trade by moving between session high and low of 39,542 and 39,254 points.
Equities declined by 41 points or 0.10 percent to 39,458 points weighed mainly by selling pressure by institutions Monday. The benchmark KSE-100 index showed volatility in the intraday trade by moving between session high and low of 39,542 and 39,254 points.
Prime Minister Nawaz Sharif has said that adequate efforts were being made for providing inexpensive electricity to the masses. Special steps had already been taken for the elimination of the menace of loadshedding by 2018 and PML-N government would fulfil its promise of overcoming the power crisis, he said. Addressing a big public meeting after performing ground breaking ceremony of mega project of Sialkot-Lahore Motorway on Monday afternoon near Sambrial, he said that due to effective policies of the government there was visible improvement in electricity supply.
The Trading Corporation of Pakistan (TCP), on behalf of the government of Pakistan, dispatched some 15,000 tons of rice to Cuba as gift. Sources told Business Recorder on Monday that the state-run grain trader has successfully completed another export shipment of rice, procured from domestic exporters/traders. This is the second rice export consignment by the TCP during this year as earlier in January this year, the state-run grain trader exported some 15,000 tons of rice including Long Grain White Rice (IRRI-6) and Super Basmati rice for Niger.