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PAEC to generate 40,000 MW electricity by 2050 KARACHI: Chairman, Pakistan Atomic Energy Commission (PAEC), Muhammad Naeem has said that the government has assigned to PAEC a target of generating around 40,000 Megawatts of electricity by 2050 to help resolve the electricity crisis being faced by the country."We are confident about achieving this target within the stipulated period as all the requisite projects and plans are in place for this purpose", he added.He expressed these views while speaking as chief guest at the 13th Convocation of Karachi Institute of Power Engineering (KINPOE), adjacent to the Karachi Nuclear Power Plant (KANUPP), said a statement on Friday. He said that PAEC is all set for meeting the target set by the government to produce 8,800 MW of electricity by 2030.Naeem said that the PAEC has been striving hard to enhance its role in power generation, as the country is facing power shortage.He added that an immense contribution had been made ...

56 oil, gas discoveries made; 31,000 bopd oil, 500 mmcfd gas added in system in 2 years ISLAMABAD: The Ministry of Petroleum and Natural Resources is following an innovative and radical strategy to achieve self-sufficiency in oil and gas sector by stepping up local exploration and production activities."During the tenure of present government, 56 discoveries have been made since June 5, 2013 and 1,010 bcf (billion cubic feet) reserves of gas and 16 million US barrels reserves of oil have been discovered, while 16 findings are under evaluation," official sources in the ...
Minister assures to help strengthening of logistics support services KARACHI: Federal Minister for Ports & Shipping, Kamran Michael has assured all support to strengthen shipping and logistics support services in the country with equal attention towards infra structure.Addressing the concluding ceremony of the 5th Professionals Shipping, Logistics & Supply Chain Management Conference & Exhibition Wednesday evening, he said concerns expressed and recommendations forwarded by the speakers during the conference will be accorded due attention.Federal Minister for Ports and Shipping assuring that grievances of the ...
PIA to transport 55,800 intending pilgrims to Saudia ISLAMABAD: Pakistan International Airlines (PIA) would transport 55,800 intending pilgrims to Saudi Arabia including 43,600 through 148 Pre-Hajj flights and 12,200 through regular flights, said official sources on Tuesday.The flight operation, commenced from August 16, was being conducted with fleet of Boeing 777, Airbus 310 and Airbus 330 aircraft from seven major cities of Pakistan included Karachi, Lahore, Islamabad, Peshawar, Quetta, Multan and Sialkot.The Pre-Hajj operation will culminate on September 17.While the airline's Post Hajj ...
No gas meter installed in violation of merit, rules: NA told ISLAMABAD: Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi Wednesday informed the National Assembly that the ministry had not installed even a single gas meter in violation of merit and rules."Sui Northern Gas Pipelines Limited only provides legal connections as per turn and merit criteria of the company," he said during the question-hour.He said it was the hallmark of the present government that it was religiously following the policy of merit under which new ...


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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln