01192017Thu
Last update: Thu, 19 Jan 2017 01pm

Industries & Sectors

Pakistan - Industries & Sectors

Developing hydropower, support governance: accords worth $720 million signed with WB, AIIB RECORDER REPORTISLAMABAD: Finance Minister, Senator Mohammad Ishaq Dar witnessed the signing ceremony of agreements worth $720m with the World Bank and Asian Infrastructure Investment Bank (AIIB) held on Wednesday in his Office to support projects in hydropower, governance and policy sectors.On the occasion, the finance minister thanked the World Bank and Asian Infrastructure Investment Bank (AIIB) over extending their continuous support to the present government in its efforts to achieve the sustainable economic development of the country. He said that the present government is focused on economic growth and is making huge investments in energy, infrastructure and social protection. He said that the results of measures taken by the government are already visible.The minister said that due to these efforts, the government has succeeded in overcoming the energy shortage to a large extent resulting in curtailing the duration of load shedding to the domestic consumers while uninterrupted supply is being ...

Pakistan - Industries & Sectors

ECC takes decision on financial matters of PIACL, PSM ZAHEER ABBASIISLAMABAD: A meeting of the Economic Co-ordination Committee (ECC) of the Cabinet has approved additional guarantees of Rs 10.5 billion to meet the financial needs of Pakistan International Airline Company Limited (PIACL), besides sanctioning one month's salary for the employees of Pakistan Steel Mills (PSM).The ECC meeting was presided over by Finance Minister Muhammad Ishaq Dar here on Wednesday. The meeting reviewed the proposals put forward by Privatisation Commission (PC) and Aviation Division on ...

Pakistan - Industries & Sectors

PIA seeks increase in GoP guarantee limit after PK-661 crash MUSHTAQ GHUMMANISLAMABAD: Pakistan International Airlines (PIA) has approached the Finance Ministry for an increase in GoP guarantee limit by Rs 10.5 billion to Rs 161.5 billion from Rs 151 billion on the plea that its financial woes have increased after the crash of PK-661, sources close to Finance Minister told Business Recorder.The Economic Coordination Committee of the Cabinet will consider PIAs request in its meeting on Wednesday (today), the sources added.The liquidity crises of PIACL, ...

Pakistan - Industries & Sectors

Diamer-Bhasha Dam will be part of CPEC, says Ahsan Iqbal NAVEED BUTT ISLAMABAD: Federal Minister for Planning, Development and Reforms Ahsan Iqbal Monday said that Diamer-Bhasha Dam would also be part of the China-Pakistan Economic Corridor (CPEC). He said that 11,000MW of electricity would be added to the national grid by 2018, 5,000MW under the CPEC and 6,000MW under non-CPEC projects. The minister said this while briefing the Parliamentary Committee on CPEC which met under the chairmanship of Senator Mushahid Hussain Sayed here at the ...

Pakistan - Industries & Sectors

Hydropower projects: mismanagement of Wapda inflicts huge losses to exchequer MUSHTAQ GHUMMANISLAMABAD: Water and Power Development Authority (Wapda) has reportedly mismanaged different hydropower projects, including 969 Neelum Jhelum hydropower project and 1410 MW Tarbela Fourth Extension inflicting billions of rupees financial loss to the national exchequer. This was the crux of informal meetings held by this correspondent with officials of the Ministry of Water and Power. The cost of Neelum Jehlum has increased from Rs 15 billion to Rs 500 billion whereas billions of rupees ...

Pakistan - Industries & Sectors

OGDCL inject 100mmscfd gas, 400mt LPG, 4,000bpd oil in system ISLAMABAD: The Oil and Gas Development Company (OGDCL) is all set to inject 100 million cubic standard feet per day (mmscfd) gas in the system, 400 metric tonnes of Liquefied Petroleum Gas (LPG) and 4,000 barrels per day (bpd) of crude oil during the current winter season."Overall, the government has planned to add overall at least 180 mmscfd natural gas in the national transmission system in the current season to meet growing energy needs," official ...

Pakistan - Industries & Sectors

Thailand to provide assistance for restoration of Archaelogical sites ISLAMABAD: Thailand Government will provide assistance for restoration and maintenance of Ghandhara Archaeological Sites in Taxila and Swat.This was stated by Managing Director Pakistan Tourism Development Corporation (PTDC) Ch. Abdul Ghafoor Khan, after his meeting with Ambassador of the Kingdom of Thailand Suchart Liengsaengthong."After restoration of law and order situation in Pakistan, the Thai tourist flow is once again showing a remarkable increase over the previous two years," he said.He said that the significance of ...