09272016Tue
Last update: Tue, 27 Sep 2016 06am

Industries & Sectors

Pakistan - Industries & Sectors

Swiss investment in Sindh augurs well KARACHI: Governor Sindh Dr. Ishrat ul Ebad Khan has hailed the investment of Swiss businessmen in energy, infrastructure and other projects in Sindh.He was talking to the new Consul General of Switzerland, Philippe R. Crevoisier, who called on him at the Governor House here on Wednesday.The Governor also pointed out that the ties between the two countries are growing further with the passage of time.He said that with Operation Zarb-e-Azab, there is law and order improvement in the province which is giving rise to the confidence of the investors.Dr. Ishrat asked the Swiss investors to take advantage of the vast opportunities that are available for investment in the energy, agriculture, pharmaceutical and other sectors.The Consul General informed on the occasion that various multinational companies from Switzerland are investing in various sectors including food, pharmaceuticals, chemical, machinery, engineering and banking. As many as 10,000 job opportunities have been created for the ...

Pakistan - Industries & Sectors

Rs415mn equipment being acquired for natural resources' mapping ISLAMABAD: The Ministry of Petroleum and Natural Resources has approved a proposal to acquire latest equipment worth Rs 415 million for mapping the country's hidden minerals and natural resources."Under the proposal, Rs 415.807 million have been earmarked toacquire four drilling rigs and their accessories for the Geological Survey of Pakistan," official sources in the ministry told APP. They informed that the geological mapping of 3,200 square kilometres on 1:50,000 scales had been completed in different ...

Pakistan - Industries & Sectors

Tarbela Hydropower Generation gets further boost ISLAMABAD: The World Bank has approved on an Additional Financing(AF) of $390 million to help sustainable expansion of Pakistan's electricity generation capacity.The AF under Tarbela Fourth Extension Hydropower Project will add 1,410 Megawatt (MW) of environment friendly, renewable, and low cost electricity generation during the high-demand summer season, a statement of the Bank issued here today said.The loan finances the installation of a power house at the existing Tunnel Five that will enhance the total ...

Pakistan - Industries & Sectors

Net profit of Artistic Denim Millis stands at Rs 377.999 million RECORDER REPORTKARACHI: The net profit of Artistic Denim Millis stood at Rs 377.999 million in the year ended on June 30, 2016 as compared to Rs 743.546 million earned in the same period last year. The Board of Directors of the company in its meeting held here recommended a final cash dividend of Rs 2.00 per share for the year, i.e. 20 percent.According to the financial results, the company's net sales was Rs 6.461 billion ...

Pakistan - Industries & Sectors

Industrialists are backbone of economy KARACHI: Governor Sindh Dr. Ishrat ul Ebad Khan has said that industrialists are backbone of economy of any country as they not only create vast number of employment but also make valuable contributions towards national exchequer in form of taxes and duties.This he stated while talking with a five-member delegation of North Karachi Association of Trade and Industry (NKATI) led by Noor Ahmed Khan, Chairman Standing Committee of FPCCI on Law and Order at Governor ...

Pakistan - Industries & Sectors

OGDCL tapped 59,692,454 bbl crude oil, 86,482,196 mcf gas from KP ISLAMABAD: The Oil and Gas Development Company (OGDCL) has produced around 59,692,454 bbl (barrel) crude oil and 86,482,196 mcf (million cubic feet) natural gas amounting to Rs 520.538 billion from its different operational fields of Khyber Pakhtunkhwa during last 17 years."The company produced 15,567,543 bbl crude, 29,626,201 mcf natural gas and 43,671 metric ton Liquefied Petroleum Gas (LPG) from the Chanda field, located in district Kohat of the province, during the year 2001-02 to 20015-16,worth ...

Pakistan - Industries & Sectors

Solar scale-up in Pakistan hits roadblock after payments slashed BAHAWALPUR: An effort to boost large-scale solar energy production in Pakistan has hit a roadblock after the government cut the rate it pays for solar electricity, frustrating investors.Punjab government set up the 100-megawatt Quaid-e-Azam Solar Park in the Cholistan desert in March 2015 as a pilot project to lure foreign investment for an additional 900 megawatts of power.Zonergy Limited, a Chinese-owned firm, then agreed to invest $1.5 billion to produce the power, with a promise ...