09272016Tue
Last update: Tue, 27 Sep 2016 08pm

Industries & Sectors

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 capacity at Tarbela to 6,298 MW."Increased supply at competitive prices from Tunnel Five will support economic growth for all enterprises that use electricity, regardless of size or sector", says Illango Patchamuthu, the World Bank Country Director for Pakistan. "In addition to reducing load shedding, it will also contribute to long term energy security."The construction of power house on Tunnel Fivewould proceed in parallel to the ongoing work on Tunnel Fourin a manner that it would ...

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 ...

Pakistan - Industries & Sectors

Power supply to Dhabeji pumping station as per schedule: KE KARACHI: The Karachi Electric (KE) on Monday claimed that the power supply to Dhabeji pumping station is as per schedule.A statement of the utility reiterated that `in the better interest of the people of Karachi, K-Electric provides all possible support to KWSB and all of its strategic installations are exempted from load-shed'.The utility confirmed that due to a technical fault power supply to Dhabeji was partially affected on Sunday. The KE teams mobilized immediately to ...

Pakistan - Industries & Sectors

Pak-China optic fiber cable project to be completed by June 2018 ISLAMABAD: The 820-kilometer long Pak-China optic fiber cable project from Rawalpindi to Khunjrab would be completed at a cost of US$ 44 million by June 2018.After completion of this important project of Information Technology (IT) under China Pakistan Economic Corridor (CPEC) would convert trade corridor into digital corridor.This project was being completed in collaboration between China's Huawei and Special Communication Organization (SCO), Senior Project Manager, SCO, Muhammad Adil said.He informed that this project would be ...