A friendly game of cricket: Chicago Tribune

In Bolingbrook, Indians and Pakistanis have found a home for their cultures and their favorite sport

By Joel Hood | Chicago Tribune reporter
July 27, 2008

Baseball is still the great American pastime. But in Bolingbrook, legions of immigrants from Pakistan, India and elsewhere are making the internationally beloved sport of cricket the summer game of 2008.

Men and boys in jersey tops and spiked shoes scamper around grass fields. Bats crack and white balls soar against a high blue sky.

Call it a cultural riff on a summer classic.

Each weekend, dozens of players suit up for club matches on fields in southwest suburban Bolingbrook. And on Sunday, thousands of fans are expected for a free exhibition match between assembled teams representing India and Pakistan at Indian Chase Meadows Park. Organizers and village officials are calling the match a landmark event for a community richly flavored by transplants from two historic adversaries.

For more on this article, please click on the following link: A friendly game of cricket: Chicago Tribune

Pakistan plans USD 12.4 billion investment in power sector: Steel Guru

Daily Times reported that Pakistan is eying USD 12.4 billion investment in the power sector to generate 13,335MW power by 2016.

Sources said that Pakistan's government is encouraging the private sector to make investment in the power sector and is hoping that the private sector would invest USD 12.4 billion by 2016 on the 51 power projects that are under process by Private Power Infrastructure Board.

According to the power projects under process in PPIB, the focus is being laid on the hydel power generation and as many as 20 hydel power projects would be operational that would generate 4,478MW power by 2016. In the said sector, first project would start generating hydel power of 84MW in the year 2011 and three additional power projects would be added to hydel power generation that would generate 332MW by 2012.

For more on this article, please click on the following link: Pakistan plans USD 12.4 billion investment in power sector: Steel Guru

Finance, telecom help fetch $5.1bn in FDI: Dawn

By Shahid Iqbal


KARACHI, July 26: Increased attraction for financial business, telecommunications and oil and gas exploration collectively pushed foreign direct investment even higher than last year despite continued political uncertainties and poor economic performance.

The State Bank of Pakistan reported that while the telecommunications still maintained its attraction for the FDI, the financial business proved more attractive and invited more foreign investment than the telecom.

Researchers said for the first time financial business attracted more FDI than telecom sector during the last five years.

Telecom was still the second highest attractive sector despite decline in volume of investment in 2007-08 compared to last year.

Total FDI which crossed $5.152 billion compared to $5.139 billion of last year, a growth of 0.3 per cent, surprised many analysts and economists, painting a bleak picture for the economy.

For more on this article, please click on the following link: Finance, telecom help fetch $5.1bn in FDI: Dawn

UAE-Pakistan trade touches $7b: Gulf News

By Himendra Mohan Kumar, Staff Reporter
Published: July 24, 2008, 23:37

Abu Dhabi: The size of Pakistan-UAE bilateral trade touched $7 billion in the last fiscal year ended June 30 with the balance of trade in favour of the UAE, Pakistan's outgoing ambassador to the UAE Ahsan Ullah Khan said.

"Pakistan's exports to the UAE during 2007-2008 were valued at $1.8 billion as compared with $1.3 billion the previous year," he said. "Pakistan's imports from the UAE for the same period rose to $5.2 billion from $3.4 billion," he added.

Khan, however, said, "The foreign direct investment from the UAE in Pakistan in the last fiscal fell to $800 million from $1.4 billion the previous year."

He further informed that annual remittances to Pakistan from the UAE through official banking channels by non-resident Pakistanis rose to $1.2 billion from $860 million the year earlier.

For more on this article, please click on the following link: UAE-Pakistan trade touches $7b: Gulf News

Japan offers to install 500MW power plants: The News

Thursday, July 24, 2008
By Israr Khan

ISLAMABAD: Japanese government on Wednesday offered Pakistan installation of two 500-megawatt power plants and showed interest in increasing investment in the automobile industry, while Islamabad assured Tokyo of establishment of Special Economic Zone (SEZ) for Japanese investors on priority basis, which would be equipped with basic infrastructure.

Federal Minister for Finance, Privatisation & Investment Syed Naveed Qamar assured this in a meeting with a visiting 15-member Pak-Japan Business Forum delegation led by Makoto Kakebayashi held here on Wednesday.

Qamar said in order to curtail the smuggling of diesel to the neighboring countries, the subsidies on certain petroleum products would be reduced gradually.

Pakistani workers remittances have gone up to $6.5 billion as compared to the previous year's figure of $5.5 billion, he informed. The minister also directed the Board of Investment (BOI) to work together with the Pak-Japan Business Forum in knuckling down to study to find out the impediments being faced by the investors in general and the Japanese investors, in particular. A workable report should also be prepared in the light of this study suggesting remedial measures to remove all sort of hindrances and bottlenecks and all-out efforts should be made to encourage the Japanese business sector to enhance operations and investment in the country, he added.

For more on this article, please click on the following link: Japan offers to install 500MW power plants: The News

Barclays Bank commences operation in Pakistan: Daily Times

By Arshad Hussain

KARACHI: Barclays Bank Plc., a prominent bank of the United Kingdom, has become a scheduled bank in Pakistan from July 23 by opening its four branches, said Shazi Ashraf, head of corporate affairs of the Bank.

"The Bank has commenced its two-branches in Karachi, one in Lahore and one in Islamabad from Wednesday (July 23) and the people are joining bank by opening their accounts," she said. "These branches are absolutely new and we have hired staff in every section of the bank," she said. Ms Shazi said, "the bank is neither interested to acquire any Pakistani bank till now nor it is negotiating for any merger."

Barclays Bank Plc entered into Pakistan with an initial investment of $100 million aiming to open ten branches throughout the country. It has commenced four branches in Pakistan while other six branches would be started by the end of this year.

For more on this article, please click on the following link: Barclays Bank commences operation in Pakistan: Daily Times

Pakistan 2008-09 rice crop seen over 6 million tonnes: Khaleej Times

ISLAMABAD - Pakistan's rice output should rise at least 10 per cent to over 6 million tonnes in the 2008-09 fiscal year on a larger planted area, officials and growers said yesterday, and exports could top 4 million tonnes.

A large rice harvest would add to the picture of growing supplies that has seen Asian benchmark prices come off 30 per cent from a record high reached in March.

Pakistan, the world fifth-largest rice exporter, produced 5.5 million tonnes of rice in the year to June and exported 3.33 million tonnes.

Fresh grain will start flowing to the market in late August, according to rice traders.

"There is nearly a 10 per cent increase in the cultivation area and the production is likely between 6.2-6.4 million tonnes," said Ibrahim Mughal, chairman of the Agri-Forum, a farmers' association.

For more on this article, please click on the following link: Pakistan 2008-09 rice crop seen over 6 million tonnes: Khaleej Times

Maybank may raise stake in MCB in August: Daily Times

KUALA LUMPUR: Malaysia's Maybank is set to buy another 5 percent of Pakistan's MCB Bank as early as next month, in a deal estimated at $218 million, sources familiar with the matter said Thursday.

Malayan Banking Bhd, Malaysia's leading lender, bought a 15 percent stake in MCB Bank, Pakistan's top lender, for $680 million in May.

That deal included a clause whereby Maybank was obliged to buy up to another 5 percent of MCB Bank shares within one year of the first transaction.

The price for this stake was then agreed at Rs 490 per share, plus holding cost, with the total price not exceeding Rs 510 per share.

"The deal is very much on, the talks have started, and if all goes well, it should materialise sometime in August," said a source close to the transaction.

A spokesman at Maybank declined comment. A spokesman at MCB Bank said any stake purchase by Maybank would be in line with the previous agreement, but he did not give a time frame for the new purchase.

Shares in MCB Bank were up 5 percent at Rs 256.3.

For more on this article, please click on the following link: Maybank may raise stake in MCB in August: Daily Times

Pakistan's Stocks Rise After 20 Billion Rupee Fund Is Activated: Bloomberg

By Farhan Sharif

July 25 (Bloomberg) -- Pakistan stocks rose to a two-week high, with the index among only two Asian winners, after the bourse activated a 20 billion rupee ($282 million) government- backed support fund to halt this year's 21 percent slide.

The Karachi Stock Exchange 100 index rose 123.94, or 1.1 percent, to 11,280.62 at 10:14 a.m. local time, the highest since July 11. MCB Bank Ltd., the nation's biggest lender by market value, was among at least seven of the 100 companies on index that rose by the maximum 5 percent.

The index has risen 7.5 percent since July 22, when Finance Minister Syed Naveed Qamar visited the exchange to announce government backing for the fund to start operating. He spoke after a 15-day slump triggered violent protests last week.

``The initiation of the fund as announced by the minister added to investors' confidence,'' said Farhan Rizvi, an economist at JS Global Capital Ltd. in Karachi. ``The sentiment has supported the market to rise further, but it might see some correction in the later hours of the day due to the fast recovery in the last few days.''

Pakistan and the Sri Lanka Stock Market Colombo All-Share Index were the only measures to gain so far today. The MSCI Asia Pacific Index lost 2.2 percent to 133.79, the most since June 12 and extending its decline this year to 15 percent.

The fund formed by a group of institutions including government agencies will eventually be increased to 50 billion rupees, according to earlier statements by the exchange. Initially, it will be run by the state-owned National Investment Trust but later it will be turned into an ``open-end fund,'' said Nasim Beg, who manages the equivalent of $300 million in stocks and bonds as chief executive officer at Arif Habib Investment Management Ltd. in Karachi.

`Technically Active'

``The fund is technically active from today but will only start buying if the market falls 20 percent within 30 days,'' Beg said.

For more on this article, please click on the following link: Pakistan's Stocks Rise After 20 Billion Rupee Fund Is Activated: Bloomberg

Pakistan troops rescue climbers: BBC

Nanga Parbat is one of the most dangerous mountains in the world

Pakistan's army has rescued two Italian mountaineers stranded for 10 days on Nanga Parbat - one of the highest and deadliest Himalayan peaks.

Climbers Simon Kehrer and Walter Nones got into difficulties on 15 July when fellow climber Karl Unterkircher fell into a crevasse and died.

The two were stuck at about 6,600m (21,600 feet) above sea level.

Nanga Parbat is sometimes called the "Killer Mountain" because of the problems it poses climbers.

For more on this article, please click on the following link: Pakistan troops rescue climbers: BBC

Champions Trophy 2008: Pakistan confirmed as hosts: Cricinfo

Cricinfo staff

July 24, 2008

he ICC board has decided to go ahead with staging the Champions Trophy in Pakistan, as originally planned, ending months of speculation over the venue in light of security concerns. Cricinfo has learnt that a majority of the governing body's executive board, which conducted a teleconference on Thursday to decide on the issue, felt any shift would "set a precedent" and be "a tremendous blow to the region, especially ahead of the 2011 World Cup", to be jointly organised by the four Asian boards.

However, while seven of the ICC board's ten Full Members, spearheaded by India, expressed their overwhelming support for Pakistan, it is believed that at least three - England, Australia and New Zealand - have informed the governing body that their players "don't want to" play in Pakistan due to the prevailing security climate there".

The ICC's chief executive, Haroon Lorgat, later told reporters in Colombo that no player opting to pull out would be penalised, nor would their respective boards.

For more on this article, please click on the following link: Champions Trophy 2008: Pakistan confirmed as hosts: Cricinfo

US to shift aid to Pakistan fighter jet upgrade: ABC

By Washington correspondent Kim Landers

The United States has confirmed it is shifting hundreds of millions of dollars in aid to Pakistan from counter-terrorism programs to upgrading the country's F-16 fighter jets.

The Bush Administration says the F-16s are used in counter-terrorism operations and it is rejecting criticism that Pakistan wants the planes to be upgraded as part of its military rivalry with neighbouring India.

State Department spokesman Gonzalo Gallegos says the upgrade will enhance the US-made fighter jets' ability to strike insurgents accurately.

For more on this article, please click on the following link: US to shift aid to Pakistan fighter jet upgrade: ABC

Pakistan rescue 1122 helped over 151000 victims since its launch: Daily.pk

Punjab Emergency Service (Rescue1122) Director General Dr. Rizwan Naseer reviewed the mid-year data of the Service in a meeting held to evolve a strategy for effective emergency preparedness and identify gaps to further enhance the performance of the Pakistan's first trained emergency service.

The data revealed that the Service rescued over 1,51,044 victims of emergencies while carrying out 1,58,126 rescue operations since its inception in October, 2004, while maintaining its average response time was less than seven minutes.The Service is now operational in the all major cities of Punjab which include Lahore, Faisalabad, Rawalpindi, Multan, Bahawalpur, Rahim Yar Khan, Dera Ghazi Khan, Murree, Sialkot, Gujranwala, Sargodha and Sahiwal. The total number of emergency calls responded by the Rescue 1122 were 1,58,126 which included 1,06,829 emergency calls in Lahore, 15,171 in Faisalabad, 4,152 in Rawalpindi, 9,954 in Multan, 7,237 in Bahawalpur, 4,159 in Dera Ghazi Khan, 4,666 in Rahim Yar Khan, 3,207 in Sahiwal, 471 in Murree, 640 in Sialkot and 1,640 in Gujranwala. The emergency calls to which the Rescue 1122 responded included 43% road traffic accident, 53% medical emergencies, 3% fire incidents, 0.29% building collapse incidents and 0.08% explosions.

For more on this article, please click on the following link: Pakistan rescue 1122 helped over 151000 victims since its launch: Daily.pk

Chinese TV channel records programme on Pakistan to be aired during Olympic Games: APP

BEIJING, July 22 (APP): A Chinese television network has recorded a special programme titled "Pakistan" that would be telecast during the upcoming Beijing Olympic Games.

One of the Chinese most-watched television channels - Anhui, has recorded the 45-minutes documentary.

The Counsellor Press and Culture at Pakistan Embassy here Tuesday said that the programme was comprising documentary on Pakistan.

For more on this article, please click on the following link: Chinese TV channel records programme on Pakistan to be aired during Olympic Games: APP

AEI Expands into Pakistan, Strengthens Asian Presence: Market Watch

HOUSTON, Jul 22, 2008 (BUSINESS WIRE) -- AEI announced today that it has acquired a controlling interest in DHA Cogen Limited (DCL), located in Karachi, Pakistan. Closing of the acquisition, which includes AEI's right to hold up to a 52.99 percent interest in DCL, occurred July 18. The terms of the transaction have not been disclosed.
While the transaction marks AEI's first venture into the Middle East, the DCL acquisition strengthens AEI's overall Asian presence. AEI recently acquired Luoyang Yuneng Sunshine Cogeneration Co., Ltd. in China, and previously acquired gas distribution franchises through the acquisitions of Beijing MacroLink Gas Co., Ltd. and Tongda Energy Private Limited.
"We are pleased to enter the Pakistani market and establish a presence in this fast-growing economy," Emilio Vicens, Vice President of Business Development, said of the transaction. "This acquisition strengthens our presence in Asia and demonstrates our commitment to growing AEI's platform in this region."

For more on this article, please click on the following link: AEI Expands into Pakistan, Strengthens Asian Presence: Market Watch

India buys 10,000 cotton bales from Pakistan: Daily.pk

Indian spinners have purchased around 10,000 cotton bales from Pakistan at 75 cents per lb for urgent delivery.

As enquiries were pouring in from Indian importers, the local prices of cotton rose by Rs100 to Rs4,100 per maund on Monday.

Higher raw cotton prices in India, which are ranging between 82 to 84 cents per lb, have forced Indian spinning industry to approach Pakistani cotton exporters to procure cotton at cheap rates.

Naseem Usman, cotton broker and analyst, told Dawn that if the current pace of booking by Indian spinners continued the local prices would go further higher that would have an adverse impact on the domestic textile industry.

For more on this article, please click on the following link: India buys 10,000 cotton bales from Pakistan: Daily.pk

Cell phone connections zoom to 88 million in Pakistan: FreshNews

Islamabad, July 22 (IANS) From just 300,000 eight years ago, the number of mobile phone connections in Pakistan has grown to 88 million in 2008 covering over half of the population, thanks to cheap rates and lucrative offers by service providers.

According to a report of the Pakistan Telecommunication Authority (PTA), mobile phone density increased from just 0.22 percent in 2000 to 54.7 percent by June 30, 2008. The six mobile phone companies in the country have sold 88,019,812 connections till now this year as compared to 306,493 by four companies in 2000. Pakistan has a population of 165 million.

However, sales executives of mobile companies say the figure of 88 million may not be accurate as many consumers keep switching from one service provider to the other without getting their previous connection cancelled.

For more on this article, please click on the following link: Cell phone connections zoom to 88 million in Pakistan: FreshNews

Pakistan's fruit exports surge by 27 percent: Daily Times

By Tanveer Sher

KARACHI: Pakistan's fruit exports, during the fiscal year 2007-08, surged by 27 percent in terms of value and 20 percent in terms of volume despite multifarious irritants faced by the fruit exporters during the export process and non-cooperative attitude by foreign shipping lines operating their services between Pakistan and different destinations across the globe.

During the previous fiscal year of 2006-07, quantity of fruit export was 343.424 metric tonnes with a value of $113.635 million. During 2007-08 it grew to 413.726 metric tonnes with a net value of $144.676 million, depicting an increase of up to 27 percent during the period.

A leading fruit exporter, when approached by Daily Times to seek his point of view over substantial increase in fruit exports, credited the surge owing to collective efforts of members of the fruit exporter association.

"An overwhelming number of exporters either in their individual capacity or collectively have frequently been visiting Gulf and Far Eastern countries besides European destinations for exploring markets, specially for mango and Kinnow" he added.

For more on this article, please click on the following link: Pakistan's fruit exports surge by 27 percent: Daily Times

Pakistan IT exports touch $1bn benchmark: Daily Times

KARACHI: The country's Information Technology (IT) exports have marked one billion dollar benchmark in fiscal year 2007-08, a research commissioned by Pakistan Software Export Board reported Monday.

According to this research, the country's IT and related industry has witnessed $2 billion increase in its worth, maintaining 50 percent handsome growth rate in 2007-08.

President Pakistan Software Houses Association (P@SHA), Jehan Ara said Pakistan produces approximately 20,000 IT graduates annually for pursuing their right fields of interest in the industry.

However, Jehan Ara said the size of the industry was much higher to attain $2.8 billion level with the exports $1.8 billion to various countries.

For more on this article, please click on the following link: Pakistan IT exports touch $1bn benchmark: Daily Times

Fish exports cross $200 million: Dawn

By Aamir Shafaat Khan

KARACHI, July 18: The fish export crossed the barrier of $200 million in 2007-08 for the first time in Pakistan's history despite losing the European market of $55-60 million after a ban was imposed by the EU in April 2007.

According to figures of the Federal Bureau of Statistics (FBS), export of fishery products surged by 12 per cent and nine per cent in terms of value and quantity, respectively, to $212 million (134,657 tons) as compared to $188 million (123,588 tons) in 2006-07.

The ban is likely to stay till the end of this year as EU's relevant audits and inspection plan for July-December 2008 does not carry Pakistan's name.

The programme includes visits by the EU team to various countries, including Bangladesh, Barbados, China, Faroe Islands, Ghana, India, Israel, Malaysia, New Zealand, Republic of Korea, South Africa, Taiwan, Thailand and the US, according to the food and veterinary programme of audits and inspection for July-December 2008, issued by the Directorate-General of Consumer Protection, European Commission.

For more on this article, please click on the following link: Fish exports cross $200 million: Dawn

Official claims big rise in arms exports: Dawn

By Ihtasham ul Haque


ISLAMABAD, July 17: Pakistan's defence exports have tripled to around $300 million because of the quality of its ammunition, anti-tank guided missiles, rocket launchers and shoulder-fired surface-to-air missiles.

"Our defence exports have been rising substantially because the arms and ammunition we manufacture meet international standards," Maj-Gen Mohammad Farooq, Director General of the Defence Export Promotion Organisation (Depo), told Dawn.

"We even won a contract in the face of tough competition from developed countries to manufacture parts of Boeing aircraft," he said.

Although he wasn't precise about earnings from arms exports, he said: "It has tripled and it is very good for Pakistan."

He said arms trade was a complex business and it had to be on a government-to-government basis. Pakistan was answerable to the international community in terms of ensuring that the arms did not fall into wrong hands.

He said exports to South Asian, Middle Eastern and African countries had increased significantly.

He said there was a time when the country's defence industry exported only small arms and ammunition, but now their range had diversified and developed countries were also purchasing Pakistan's military hardware.

He said optical instruments like night vision devices, laser range-finders and designators, laser threat censors, artillery armour mortars and ammunition, mine detectors, anti-tank rifles, missile boats, different types of tear gases, fuses of unarmed vehicles, security equipment and sporting and hunting guns were also being manufactured in Pakistan.

"The fuses are being purchased by countries like Italy, France and Spain," he said.

For more on this article, please click on the following link: Official claims big rise in arms exports: Dawn

Govt decides to launch 8000 CNG busses in ten cities: The News

LAHORE: The government has decided to launch 8000 CNG busses in ten major cities of the country while a monitoring cell to control prices of essential food items has been formed which will work under the supervision of the Prime Minister.

Federal Minister for Information, Sherry Rehman said this while briefing the media after the Federal Cabinet's meeting held under the Chairmanship of Prime Minister Yousuf Raza Gilani here at Governor House on Wednesday.

In a bid to ensure complete financial security to women and children, the federal cabinet has decided to amend the Family Courts Act 1964 and the Gaurdian and Ward Act 1890.

The cabinet has also banned export of wheat to overcome its shortage and consequent rise in prices.

Sherry Rehman said that the cabinet meeting mainly focussed on the wheat-related issues and decided that the export of wheat will remain banned until there is surplus crop in the country.

For more on this article, please click on the following link: Govt decides to launch 8000 CNG busses in ten cities: The News

Pakistan to receive $60 m Rotavirus vaccines to check Diarrhea: APP

ISLAMABAD July 16 (APP): Pakistan would receive $60 million worth of Rotavirus vaccines from the Global Alliance for Vaccine Immunization (GAVI) for its expanded programme of immunization to check Diarrhea. Diarrhea is recognized worldwide as the No. 1 cause of hospitalization and the second leading cause of infant mortality under 5 years of age.

Rotavirus is the most common cause of severe diarrhea in children world-wide and diarrheal deaths in developing countries. Although it infects every child in the world before the age of five years, the risk of dying from rotavirus infection is greater for children born in the developing world in countries including Pakistan.

Pakistan would finance only Rs. 100 million for vaccines valued at over $60 million.

GAVI has provided special funding to enable the inclusion of Rotavirus vaccines in EPI programmes as it is considered "a new priority vaccine".

All GAVI eligible countries are required to send a country proposal by September 25, 2008 for Rotavirus vaccine in order to qualify for this funding.

Over 90 per cent of the 600,000 annual deaths caused by Rotavirus occur in developing countries. Mortality is highest in South Asia and Sub Saharan Africa where it is estimated that about one in 200 children born will die of Rotavirus.

For more on this article, please click on the following link: Pakistan to receive $60 m Rotavirus vaccines to check Diarrhea: APP

Remittances touch record $6.5bn: Dawn

By Shahid Iqbal

KARACHI, July 16: Pakistan received record remittances of about $6.5 billion during 2007-08 from overseas workers enabling the country to meet at least 50 per cent of the current account deficit.

The State Bank of Pakistan on Wednesday reported an inflow of $6.451 billion as workers' remittances, which was 17.4 per cent higher than the preceding year, an addition of $957 million recorded this year.

Analysts termed the 2007-08 as the difficult year, which received unprecedented help from the overseas Pakistanis to meet 50 per cent of current account deficit touching $12.9 billion in first 11 months of the previous year.

"The expected current account deficit is $14.5 to 15 billion for the year 2007-8, which means the remittances were 45 per cent of the entire current account deficit," said Mohammad Imran, research head at First Capital Equities.

The present government is now facing serious challenges to meet the widening current account deficits with rising oil prices in the world market.

For more on this article, please click on the following link: Remittances touch record $6.5bn: Dawn

US lawmakers seek to triple non-military aid to Pakistan: AFP

WASHINGTON (AFP) — Legislation was introduced Tuesday in Congress proposing non-military aid to Pakistan be tripled to 7.5 billion dollars over five years, and linking security aid to counter-terrorism performance.

The bipartisan legislation authorizes 1.5 billion dollars annually for development purposes, such as building schools, roads and clinics, for five years and advocates a similar amount over a subsequent five-year period, lawmakers said.

"Our bill represents a genuine sea-change -- one which will set the US-Pakistan policy on a safer and more successful course," said Senator Joseph Biden, the Democratic head of the Senate foreign relations committee.

"For far too long, our policy towards Pakistan has been in desperate need of a serious overhaul," the Democratic lawmaker told reporters.

For more on this article, please click on the following link: US lawmakers seek to triple non-military aid to Pakistan: AFP

Pakistan's Energy Crunch: American Chronicle

Saad Sarwar Muhammad
July 15, 2008

Cheap and reliable sources of energy are the driving force for any economy. In the current climate of the world where the limited supply of fossil fuels and the high energy demands is already causing havoc to the world economy, it is about time we thought of alternate sources of energy as the only real option left.

A developing country like Pakistan can ill afford to ignore the importance of alternate sources of energy and the role hydel power can play for Pakistan if harnessed properly. Pakistan is naturally blessed with a terrain that boasts some of the highest mountain ranges in the world which also serve as the sources for all of its rivers. Pakistan possesses K2 which is the second highest point on the earth with the water going all the way to sea level through a course of hundreds of miles. Water coming from such high sources serves as huge repositories of potential energy which can be harnessed not only to produce cheap energy but also as water conservation projects for agriculture. Right now millions of cusecs of water is wasted in our rivers and thrown out straight to the sea without much use. It is high time Pakistan thought of constructing small dams and water reservoirs for electricity production and agricultural purposes all over the country. Even rain water should be conserved in special reservoirs purpose built for the monsoon season which can also serve to make deserts and vast areas of Baluchistan green. Pakistan should go all out for these energy projects so that none of the industrial units or houses and businesses in Pakistan are ever out of energy. Pakistan should set its energy target as double its actual needs in order to be the best growing economy in the world. Which it could easily be, if the cost of factors of production are lowered. Pakistani textile industry always complains of power outages and high costs of energy. If we use hydel power and alternate sources of energy we can even lower cost of utilities for all Pakistanis and give something back to our populace through better energy management thereby becoming a true welfare state.

For more on this article, please click on the following link: Pakistan's Energy Crunch: American Chronicle

Pakistan gains out of India's maize export ban: Commodity Online

By Rajneesh Shukla
NEW DELHI: With India banning maize exports due to persistent demands from the poultry industry, neighbouring Pakistan seems to have benefited as a result. The country has entered the world maize market for the first time thanks to a bumper crop and higher prices prevailing in world markets.

It may be recalled that increasing exports from India had led to domestic maize prices skyrocketing and putting the entire poultry industry into trouble. Earlier this month, maize prices in the country were ruling at over Rs 900 per quintal in mandis, while in the US they have touched $400 per tonne (Rs 1,720 a quintal) when the Indian government decided to enforce the ban till October 15. Maize is a key ingredient for poultry, livestock and starch industries

This year, Pakistan is likely to have a bumper maize crop of some 3.7 million tonnes as compared to some three million tonnes last year, depicting an increase of about 23 percent.

For more on this article, please click on the following link: Pakistan gains out of India's maize export ban: Commodity Online

Why do Turks Like Pakistan?: Turkish Weekly

Sedat Laçiner

Wednesday , 16 July 2008

Many statesmen believe in that the states have no friends, but interests. That's why the number of states which have 'special relations' is few. US-UK relations or US-Israel relations are exceptional. Even in these examples we see that the national interests are more important than the emotional dimension. In this framework Turkish-Pakistani relations have always been special. In spite of the geographical distance and the clear economic and social differences between two countries, Turks have always loved the Pakistanis. Although the Pakistanis are not Turkish origin people, they have always been called 'brothers' in Turkey. Brotherhood between these two countries was something emerged before the family ties between the Turkish Republics and Turkey to be bounded.
Like many Turkish people I did not question Pakistan's friendship, yet one of the answers I was trying to find prior to my 8 day-trip to Pakistan was the reasons of this profound sympathy. On the Pakistan way, may be first time in my life I wondered why do Turks like Pakistan? I thought whether the Turkish-Pakistani love is delusion or not.

***

I will share my Pakistan notes in the near future, but in this essay I would rather try to understand the main roots of our Pakistan sympathy:

The things I saw in my 2000 km journey, including 5 cities from Karachi-southern coast- to Burban-the very north of Pakistan-, was totally devastating for me and the other members of the Turkish delegation. It is clear that Pakistan has been passing through difficult times in terms of politics, security and economics. My soul and heart were hurt by the level of difficulties these beautiful people face. Besides all that tragedy, I and other members of the Turkish delegation found out something that every visitor to Pakistan experience: Pakistan is certainly the country that likes Turkey the most in this world.

For more on this article, please click on the following link: Why do Turks Like Pakistan?: Turkish Weekly

1.7mT mangoes produced: The News

Tuesday, July 15, 2008
RAHIM YAR KHAN: The annual mango production in the country is estimated at 1.7 million metric tons, with Rahim Yar Khan district accounting for over 0.4 million metric ton of the fruit, almost a quarter of the total national produce.

Talking to APP at the 3-day 'Mango Show 2008', DO agriculture Imtiaz Ahmed disclosed that today Pakistan ranks at number five in the world for mango production, and stands at number seven in the export of fruit to world markets.

For more on this article, please click on the following link: 1.7mT mangoes produced: The News

Pony Express: Time

By ARYN BAKER/ISLAMABAD

Full Speed Ahead
Racing for the ball during a match in Pakistan's Hindu Kush mountains
Matthieu Paley

After he died, noble roll, a polo pony that once belonged to Asif Zardari, one of Pakistan's most powerful politicians, was buried under a house being built outside the capital Islamabad. That might seem an unusual, even macabre act. But Zubair Idris, owner of the house and inheritor of the pony, says that in a polo-playing family like his, it's tradition to bury under a new home an old, favorite mount that has passed away. Says Idris: "The house gets the strength of the horse."

So does its rider. In Pakistan, polo stands at the nexus of power and money. Long the province of the feudal landlords, who by virtue of their holdings could afford the strings of ponies required to field a team, polo is also the Pakistani army's preferred sport, a legacy of its cavalry origins. Polo ponies, stables, grooms and trainers are subsidized by the military. Officers, and their children, have access to one of the world's most expensive sports for the cost of a few rupees a month. Idris, a sixth-generation polo player, comes from one such family. The country's best players, if not military themselves, are descendants of military families. And for most of Pakistan's 60-year history power has been traded between the feudals and the military. Polo matches are where they meet. It is only inevitable that, in Pakistan, the game of kings is a kingmaker.

For more on this article, please click on the following link: Pony Express: Time

Pharma sector in Pakistan shows steady growth: The Post

Associated Press of Pakistan

LAHORE: Pharmaceutical sector in Pakistan has shown a steady growth over the years and produced drugs to meet the national needs as well as for export.

Many regulatory agencies of drug importing countries, even in the underdeveloped world, have mandatory requirement that exporters should submit all quality assurance tests including documented bio-equivalence study of international standards.

Scarcity of such clinical testing facility remains one of the limiting factors for export of locally manufactured pharmaceutical. The quality of the drugs is ascertained through manufacturing processes and monitored even when in the market.

The tests for the quality are performed either exclusively in labs (in vitro) or both in human or animals (in vivo) and labs. Bio-equivalence studies ensure the availability of drugs in blood according to the desired standards.

For more on this article, please click on the following link: Pharma sector in Pakistan shows steady growth: The Post

Saudi confirms $125m credit facility for Pakistan: The News

By By Aftab Maken
7/13/2008
ISLAMABAD: Saudi authorities on Saturday confirmed to Pakistan, that it can avail credit facility worth $125 million for the import of urea fertiliser to meet its shortage, a senior government official told The News.

"The Ministry of Food, Agriculture & Livestock (MINFAL) and Economic Affairs Division (EAD) have finally concluded negotiations for Saudi credit," said Shahid Hussain Raja, Additional Secretary MINFAL on Saturday.

Pakistan had requested the Saudi government for reviving another credit facility of $125 million for the fertiliser, as it had nearly availed the existing Saudi credit facility of $133 million, which the kingdom pledged after the devastating earthquake of 2005 and Pakistan imported urea fertiliser as the country had been facing a severe shortage in the commodity since the last couple of years.

Pakistan is importing 300,000 tonnes of urea from Saudi Arabia under the credit facility offered by the kingdom and instead of distributing it to urea manufacturers, MINFAL would supply the commodity through National Fertiliser Corporation's outlets, Raja said.

After the recent increase in gas prices, urea manufacturers have increased the prices of the commodity from Rs620 to Rs700 per 50kg bag. It is worth mentioning that the government did not increase gas tariff for feedstock, but they increased the prices. Last year, urea price stood at Rs540 per 50 kg.

Prime Minister Syed Yousuf Raza Gilani, in his meeting with the King of Saudi Arabia in the first week of June, discussed economic cooperation between the two countries and sought Saudi assistance.

For more on this article, please click on the following link: Saudi confirms $125m credit facility for Pakistan: The News

Saudis Defer $6B In Pakistani Oil Payments: CBS News

CBS) Written by CBS News' Farhan Bokhari, reporting from Islamabad.

Saudi Arabia has stepped in with a major gesture of support for Pakistan, with its offer to defer payments on oil shipments to Islamabad worth almost US$6 billion.

The Saudi move highlights the desert kingdom's longstanding ties to Pakistan which it considers a close ally on key security issues including the fight against terror.

For Muslim-majority Pakistan, the Saudi support comes as Islamabad grapples with fast-mounting difficulties driven largely by high global oil prices. Pakistan imports about one-third of its daily petroleum needs from Saudi Arabia.

In the past, too, the Saudis have helped Pakistan in this way when they deferred payments on oil shipments to the south Asian country from 1998 (after Pakistan carried out its first nuclear tests) until 2001.

Those tests in May 1998 were followed by punitive international economic sanctions imposed by countries, including the United States. Eventually, the Saudis wrote off the dues owed by Pakistan on account of the deferred payments on oil.

For more on this article, please click on the following link: Saudis Defer $6B In Pakistani Oil Payments: CBS News

Private sector facilitated to export bulk cement: Dawn

KARACHI, July 9: The Karachi Port Trust, as part of its landlord port strategy, has facilitated the private sector to export bulk cement.

The bulk cement exporters would directly pump and load bulk cement in ships, according to KPT sources.

Thirty bulkers, having a maximum loading capacity of 6000 tons per day, commenced operations from Karachi Port. The port provides a platform to cement manufacturers to export cement to global markets in a cost-effective manner to meet the increasing demands world over.

Globally the export share of lose, and bulk cement is 85 per cent and is mainly exported to countries in Red Sea, Black Sea, Mediterranean Sea, Persian Gulf, South Africa and West Africa.

For more on this article, please click on the following link: Private sector facilitated to export bulk cement: Dawn

Credit Suisse launches operations in Pakistan: Reuters

KARACHI, July 10 (Reuters) - Credit Suisse Group (CSGN.VX: Quote, Profile, Research), the Swiss-based global financial services company, said on Thursday it would start operations in Pakistan, initially offering equity research.

Credit Suisse aims to expand its operations to full broking and dealing services by the first half of 2009.

For more on this article, please click on the following link: Credit Suisse launches operations in Pakistan: Reuters

PM welcomes interest of Malaysian media, housing firms to invest in Pakistan: APP

by Shahid Saleem

KUALA LUMPUR, Malaysia, July 9 (APP): Chairman of Malaysian-based Media Prima Television Abdul Mutlib Razzaq called on Prime Minister Yousuf Raza Gilani and expressed his interest in making joint ventures with Pakistani entertainment media. The Media Prima chief told Prime Minister Gilani that he was keen in showing Pakistani films and dramas on Malaysian channels.

For more on this article, please click on the following link: PM welcomes interest of Malaysian media, housing firms to invest in Pakistan: APP

Pakistan gets it first campus placement portal: Domain-B

Pakistan has developed an indigenous version of global career network portal Monster.com, to help students find placements in the country.

Funded by Pakistan's information and technology ministry and developed by Pakistan's top job portal Rozee.Pk, the new portal will directly link academia to industry and integrate graduating students, faculty and alumni of 85 Pakistani universities.

The services of the project, the first-of-its-kind job portal, will be rolled out across universities and 85 higher education council-accredited campuses free of cost.

The campus career portals project, sponsored by Pakistan's ICT R&D Fund, was launched at a function participating six leading universities and leading industries, on 1 July.

The mother portal will cater to students of all leading universities, including the elite Lahore School of Business Management.

For more on this article, please click on the following link: Pakistan gets it first campus placement portal: Domain-B

'Pakistan Apparel Forum' to represent whole apparel sector: Fibre2Fashion

Mr. Bilal Mulla, Central Chairman PRGMEA in a statement has said that Pakistan Readymade Garments Manufacturers & Exporters Association (PRGMEA), Pakistan Hosiery Manufacturers Association (PHMA), Pakistan Knitwear and Sweater Exporters Association (PAKSEA) and Pakistan Cotton Fashion Apparels Manufacturers & Exporters Association (PCFA) are the real stakeholders of the apparel sector who have jointly established a forum "PAKISTAN APPAREL FORUM", which is the real body to represent the whole apparel sector of Pakistan, and the apparel sector of the country shall only accept such proposals which meet the expectation of real stakeholders and it is submitted that before finalization of any proposal the real stakeholders viz "PAKISTAN APPAREL FORUM" should be invited and consulted in the matter.

He further said that out of all Textile Sectors, Apparel is the only sector which has shown consistent growth from about 2.2 Billion US $ in 2003 to about 3.3 Billion $ in 2007 but still Pakistan's market share in global apparel market is least among its competitive countries.

Pakistan has only 1.3% in Global apparel market, compared to Bangladesh which has 2.8% market share, India at 3.3% and China at 31%.

The significance and importance of Value Added sector can be evaluated by the fact that 1 Cotton Bale exported earns 238 $ in foreign exchange, while on other hand clothing made and exported from 1 Bale of Cotton earns the foreign exchange of 1,600 $.

During the period of July till Mar 2008 exports of Textile declined by 4.7% due to Political instability, deteriorating law & order conditions, judiciary turmoil, negative travel advisory, worsened energy crisis and other such factors.

But Woven Garment sector showed an increasing trend. Its export has increased by 7.3% during the same period.

For more on this article, please click on the following link: 'Pakistan Apparel Forum' to represent whole apparel sector: Fibre2Fashion

Pakistan: New flood warning system in Rawalpindi: ReliefWeb

SLAMABAD, 8 July 2008 (IRIN) - About 150,000 people living alongside Leh Nullah, a drainage channel running through Rawalpindi, should benefit from a new flood warning system launched on 7 July with Japanese assistance.

The drainage channel is prone to flooding, particularly during the monsoon season.

This has from time to time created havoc. In July 2001, 74 lives were lost and 3,000 houses destroyed after the drainage channel burst its banks.

The incident led to discussion of the need for a flood warning system. Since 2001, periodic flooding of houses alongside the channel has taken place, with the latest flooding just a few days ago, when heavy rain lashed Rawalpindi.

"Water creeps rapidly over the banks and into homes. It makes for very difficult living conditions," said Rabia Bibi, 45, who lives near the channel. She told IRIN: "Each year people have to move away during the rains because of water entering homes."

For more on this article, please click on the following link: Pakistan: New flood warning system in Rawalpindi: ReliefWeb

Pakistan to get $1.4bn WB loan, ADB to give $810m: Daily Times

* $1bn WB loan to have 17% interest
* ADB funds for power projects

ISLAMABAD: The World Bank (WB) and the Asian Development Programme (ADP) will give Pakistan $1.4 billion and $810 million in loans, respectively.

The WB's $1.4 billion lending programme will support development in various sectors during the current fiscal 2008-09 year, a senior official in the Economic Affairs Division told Daily Times on Wednesday. He said anonymously that the lending programme consisted of $1 billion loan under the International Bank for Reconstruction and Development (IBRD) and $400 million loan under the International Development Association's (IDA) country assistance programme.

Interest: He said the $1 billion IBRD loan would be provided on market rate, elaborating that market rate loans had an interest rate of 17 percent. He added that the $400 million IDA loan would be a soft loan, which is likely to have one percent interest rate, and would be for technical assistance.

Sources in the Finance Ministry say Pakistan is facing problems to return WB loans as there is a condition that they will be returned in any currency (dollor or euro), which has a higher value.

For more on this article, please click on the following link: Pakistan to get $1.4bn WB loan, ADB to give $810m: Daily Times

Pakistan hands over Thar coal project to Sindh: Khaleej Times

ISLAMABAD - The Pakistan government has finally handed over the development of Thar coal project to the Sindh government, mainly to expedite the building of a 1000MW coal-fired power plant at a cost of $1.5 billion.

A senior government official told this correspondent that tussle that had been delaying the project has ended with the Centre agreeing to a 'supporting role' for itself in the $1.5 billion project while the Sindh administration 'spearhead' and sort out all the issues relating to the project.

He also said that the federal government has set up a Sindh Coal Authority by abolishing two existing federal and provincial agencies to expedite mining, development and gasification of Thar and other coal deposits in Sindh. A formal notification to this effect was issued by the Prime Minister Secretariat yesterday that technically empowers provincial government to take all decisions relating to coal development and power generation in consultation with provincial and federal agencies.

Headed by chief minister of Sindh, the authority will comprise federal minister and secretary water and power, a provincial minister to be nominated by the chief minister, chief secretary sindh and managing director Thar Coal Authority. The authority has come into effect immediately as Sindh Coal Authority (SCA) - a provincial agency - and Thar Coal Mining Company - a joint venture of federal and Sindh government - have been abolished, says the notification issued by federal government.

The authority will act as one stop organisation on behalf of all ministries, departments and agencies of the federal and provincial governments in mining, development, leasing and sub-leasing of Thar coal area. This will also be responsible for development of clean coal technologies, research and development, gasification, bracketing on Thar coal.

For more on this article, please click on the following link: Pakistan hands over Thar coal project to Sindh: Khaleej Times

Mobilink Genie pioneers Mobile Commerce in Pakistan: Pakistan Times

KARACHI: Mobilink, the country's market leader in cellular communication with more than 32 million customers and part of Orascom Telecom, today launched 'Mobilink Genie' a futuristic service of privileges and conveniences heralding the onset of mobile commerce in Pakistan. Partner financial institutions were also present on the occasion.

Mobilink Genie is a mobile payment solution enabling Mobilink customers to use their mobile phones to buy a combination of products of their choice and pay for a mix of utility and general services.

The program is in compliance with regulatory guidelines and safe for transactions; moreover, it has been hailed as a new and innovative chapter in the telecommunication sector of Pakistan.

For more on this article, please click on the following link: Mobilink Genie pioneers Mobile Commerce in Pakistan: Pakistan Times

1500 more Hepatitis C patients to get free treatment in Pakistan: Daily.pk

Under the National Programme of Prevention and Control of Hepatitis (NPPCH), free treatment for 1,500 additional poor Hepatitis C patients has been planned throughout the country in the next couple of months.
Currently, around 15,000 patients are receiving free treatment in 70 hospitals throughout the country including FATA, FANA and Azad Jammu and Kashmir (AJK).

Private hospitals charge Rs 50,000-60,000 for a six-month hepatitis course.

According to a report of the Pakistan Research Council on Water Resources (PRCWR), 10 million Pakistanis are suffering from Hepatitis C and five million from Hepatitis B.

Most cases are reported in poor areas like interior Sindh, southern Punjab, southern NWFP and Sialkot.

Hepatitis is a liver disease caused by infections, alcohol, certain medications and toxins. Its virus is contagious and can be transmitted through blood and blood products.

Interferon injections combined with antiviral drug – Ribavirin – is considered the most effective treatment to hepatitis.

For more on this article, please click on the following link: 1500 more Hepatitis C patients to get free treatment in Pakistan: Daily.pk

Pakistan can compete in milk production: The News

Thursday, July 10, 2008
ISLAMABAD: Pakistan has got potential to easily compete with New Zealand and United Kingdom in milk production, however it needs to improve its yield.

This was stated by Executive Director General, Investment Division and Board of Investment (ID&BoI) Major (R) Iqbal Ahmad while talking to UK Deputy High Commissioner Robert Gibson on Wednesday.

Gibson was accompanied by British High Commission Trade & Investment Officer Jason Mumtaz. Pakistan is the 5th largest milk producer, but its real potential remains far behind as its cows produce relatively less, he added.

He informed the delegates that Pakistan and Britain share a historical legacy which is deep-rooted between both the nations. Moreover, Pakistani expatriates who are working in the UK, not only contribute towards the national exchequer of Pakistan but also form a productive workforce of the country, he added.

For more on this article, please click on the following link: Pakistan can compete in milk production: The News

Pakistan ready to sign MoU with M'sia to abolish visa: The Star

KUALA LUMPUR: Pakistan is ready to sign a memorandum of understanding with Malaysia on counter terrorism and the abolition of visas for diplomatic and official passport holders.

Pakistan Prime Minister Makhdoom Syed Yousaf Raza Gillani gave the undertaking in talks with Datuk Seri Abdullah Ahmad Badawi on the sidelines of the D8 meeting on Tuesday.

Syed Yousaf said the signing of the Free Trade Agreement between the two countries would facilitate linkage and market access between Pakistan and the growing economy of Asean.

For more on this article, please click on the following link: Pakistan ready to sign MoU with M'sia to abolish visa: The Star

Pakistan: SPAPEV completes 4000 pre-fabricated houses at Balakot; more projects to be started in quake-hit areas: ReliefWeb

Islamabad, July 7th, 2008: Saudi Public Assistance for Pakistan earthquake Victims, a Saudi relief organization has completed 4000 houses worth 18.5 million US dollar to resettle the Balakot quake affectees.

Addressing a ceremony which organized to celebrate the completion of housing project, held here on Monday, Dr. Khalid M. Al-Othmani, the Regional Director, Saudi Public Assistance for Pakistan Earthquake Victims, said that the houses have been handed over to families of Balakot displaced due to South Asian earthquake.

Besides others, Secretary General Engineer Fahad Al-Mubarak arrived here specially to hand over this huge project. Dr. Khalid M. Al- Othmani, the Regional Director of SPAPEV, thanked the chief guest of the event, H.E Owais Ahmed Ghani, the Governor of NWFP, Excellency, Ali Awadh Asseri, the Saudi Ambassador to Pakistan and all the dignitaries for honoring us by their presence.

He told media that the October 8, 2005 earthquake not only played havoc, but also destroyed the infrastructure of many parts of Azad Jammu and Kashmir and North Frontier Province of Pakistan. At the time of natural calamity, the International welfare Organizations, government agencies, Pakistan Army, and several other NGOs without wasting time, rushed to the site of quake-ravaged areas and started rescue, and relief, operation on emergency basis.

For more on this article, please click on the following link: Pakistan: SPAPEV completes 4000 pre-fabricated houses at Balakot; more projects to be started in quake-hit areas: ReliefWeb

Pump Prices Hurt Americans: WSJ

CAPITAL JOURNAL
By GERALD F. SEIB

Both presidential candidates are focusing on the economy this week, and for good reason: $4-a-gallon gasoline has Americans sliding into pocketbook shock.

But pain at the pump is only one reason energy now should be the central issue of this year's campaign. Here's the other, more insidious one: High oil prices are shredding America's financial independence and producing a massive transfer of wealth from U.S. pocketbooks into the hands of suspect actors around the world, including Iran, Venezuela and Russia.

The U.S., in other words, now has an energy problem that is not only draining the bank accounts of its own citizens, but filling up the bank accounts of some who work against American interests around the globe. It's hard to imagine an issue that more deserves campaign prominence.

For more on this article, please click on the following link: Pump Prices Hurt Americans: WSJ

State Bank of Pakistan Launches New design 50 Rupees and new 5 Rupees Banknotes: Daily.pk

The Governor, State Bank of Pakistan, Dr Shamshad Akhtar launched Rs 50 new-design and new Rs 5 banknotes at a simple but impressive ceremony held at SBP,Karachi , on Monday.

Addressing a press conference on the occasion, she announced that all the field offices of SBP Banking Services Corporation will start issuing these banknotes from tomorrow (8th July, 2008).

Dr Akhtar said that the state-of-the-art security features incorporated in Rs 50 new-design and new Rs 5 banknotes are of international standards and thus minimize the possibility of their counterfeiting. Nevertheless, it is important for the public to be well-versed with these security features so that they can easily recognize a counterfeit banknote when they come across it. Dr Akhtar urged the media to effectively play their vital and constructive role in educating the public by giving wide coverage to the security features of Rs 50 new-design and new Rs 5 banknotes.

It may be recalled that the State Bank has already introduced new-design banknotes of Rs 10, 20, 100, 500, 1000 and 5000 denominations. The new-design-upgraded series started gradually by introduction of Rs 20 banknote from 13th August 2005, has now been completed with the launch of Rs 50 new-design and new Rs 5 banknotes from today.

The launch of new high-tech banknotes has helped modernize the banking industry in Pakistan as the new-design banknotes are equipped with machine readable features. This will facilitate the automation of handling of banknotes by banks and use of equipment to detect counterfeiting while processing the banknotes.

For more on this article, please click on the following link: State Bank of Pakistan Launches New design 50 Rupees and new 5 Rupees Banknotes: Daily.pk

Pakistan ranks 84 on Global Enabling Trade Report 2008: Daily Times

By Sajid Chaudhry

ISLAMABAD: Pakistan has been ranked 84 among 118 countries on 'The Global Enabling Trade Report 2008' released by World Economic Forum Saturday.

Published for the first time and covering 118 economies worldwide, report 2008 aims to present a cross-country analysis of the large number of measures facilitating trade. The Enabling Trade Index captures the free flow of goods over borders and to destination.

East Asian economies, Hong Kong and Singapore occupy the top two positions in the Enabling Trade Index ranking, followed by Sweden and Norway. Canada, Denmark, Finland, Germany, Switzerland and New Zealand complete the top 10 list.

Sri Lank secured 70 and India 71 as compared to Bangladesh 110 and Nepal 116, report said.

For more on this article, please click on the following link: Pakistan ranks 84 on Global Enabling Trade Report 2008: Daily Times

Work on most hydropower projects to start next year: The News

Friday, July 04, 2008
By our correspondent

LAHORE: The Water and Power Development Authority is striving for optimal exploitation of hydropower potential to cope with increasing demand of electricity in the country.

WAPDA Chairman Shakil Durrani stated this during a visit to project sites of Diamer-Basha dam, Dasu, Pattan and on-going three high-head hydropower projects namely Khan, Allai and Dubair Khwar on Thursday.

According to a statement issued here, the WAPDA chairman said nature had blessed Pakistan with the potential of generating more than 54,000 megawatts of hydel electricity.

With a view to injecting low-cost electricity into the national grid, WAPDA was working on feasibility studies and detailed engineering designs of a number of hydropower projects with accumulative capacity of about 25,000MW including Kohala (1,100MW), Bunji (5,400MW) and Dasu (4,000MW), he added.

For more on this article, please click on the following link: Work on most hydropower projects to start next year: The News

Pakistan Named Next Noodle House Nation: MiddleEastEvents

Jumeirah Group's dedicated restaurant division, The Taste Department signs a license agreement with Zahdan Retail Private Limited that will see the noodle house expand into Pakistan

Dubai, UAE - July 3, 2008: The Taste Department, the dedicated branded restaurant division within the Jumeirah Group tasked to set up and license innovative and successful casual dining restaurant concepts to partners worldwide, has signed a license agreement with Zahdan Retail Private Limited that will see 12 noodle house restaurants opening in Pakistan over the next five years.

Steven Grey, The Taste Department's General Manager & Chief Taster said: "The noodle house's vibrant atmosphere and delicious fresh food inspired by exciting South East Asian cities including Hong Kong, Shanghai, Bangkok and Jakarta is one of Dubai's most popular places to meet and eat. With outlets now open across the UAE and Jordan, the noodle house's famous Shanghai Beef Noodles are speedily sizzling around the world".

He added: "The continued expansion of the noodle house is a high priority for The Taste Department and this strategic license agreement with Zahdan Retail Private Limited is yet another significant step forward in the division's plan to license 100 noodle house restaurants worldwide by 2012".

For more on this article, please click on the following link: Pakistan Named Next Noodle House Nation: MiddleEastEvents

Britain doubles aid to Pakistan: BBC News

Britain is substantially increasing its aid to Pakistan and outlining a new strategy for how it is spent.

International Development Minister Douglas Alexander is in Islamabad to announce that aid will double to £480m ($956m) over the next three years.

The move comes amid British security concerns over growing Islamic militancy in the country.

The increase will make Pakistan second only to India as the recipient of the UK's largest aid programme worldwide.

For more on this article, please click on the following link: Britain doubles aid to Pakistan: BBC News

French investment rises to $500m in Pakistan: The Post

Associated Press of Pakistan

KARACHI: The French investment in Pakistan has risen to 500 million dollar, this was stated by the Ambassador of France to Pakistan Regis de Belenet.

The envoy pointed out that the boost of French investment in Pakistan was mainly due to Lafarge, a world leading company in cement. He said more investment may come towards the construction of a plant for production of vaccine for the livestock. This would be by a French company Merial in collaboration with the government of the Punjab.

For more on this article, please click on the following link: French investment rises to $500m in Pakistan: The Post

Pakistan's OGDCL makes gas discovery: Guardian

KARACHI, July 4 (Reuters) - State-owned Oil and Gas Development Co Ltd (OGDCL), Pakistan's biggest listed firm, announced on Friday a gas discovery in central Punjab province, raising its output by 5.5 million cubic feet a day.
OGDCL, which is also listed in London, has ramped up investment in an effort to reduce Pakistan's dependence on imported fuel at a time of record high prices.
"This is a small discovery for OGDCL with a per share impact of 0.04 rupees per share," said Faraz Farooq, an analyst at First Capital Equities Ltd.
The discovery was made in the company's wholly-owned Exploratory well Dhodhal Deep 01.

For more on this article, please click on the following link: Pakistan's OGDCL makes gas discovery: Guardian

Huawei to deploy WiMAX network for Mobilink in Pakistan: Telecom Paper

Chinese telecommunications firm Huawei Technologies has been selected by Pakistani mobile operator Mobilink to deploy a commercial WiMAX 16e network. The network will cover central business districts and hot spots in Pakistan's six major cities of Islamabad, Karachi, Sialkot, Faisalabad, Lahore and Rawalpindi. Under the terms of the contract, Huawei will provide Mobilink with a WiMAX system including distributed base stations, an access service network-gateway and a network management system.

For more on this article, please click on the following link: Huawei to deploy WiMAX network for Mobilink in Pakistan: Telecom Paper

Pakistan economic indicators: Reuters

For a complete break down of Pakistan's Economic Indicators as of July 2, 2008, please click on the following link: Pakistan economic indicators: Reuters

Pakistan ranked 83 in 'Forbes best countries for business': Daily Times

ISLAMABAD: Pakistan has been ranked 83 in a global list of the best countries to do business in, improving from rank 93 of last year. While Pakistan has climbed 10 places, India is down thirteen notches to 64. In the new Forbes study that compared business climate from various angles in 121 countries, Denmark tops the list, having displaced the US, last year's leader, Ary ONE World TV reported. Ireland and Finland follow at No 2 and No 3 spots. The United States is at No 4 now, followed by United Kingdom. The Forbes report pointing out that Pakistan, an impoverished and underdeveloped country, has suffered from decades of internal political disputes, low levels of foreign investment, and a costly, ongoing confrontation with neighboring India. However, since 2001, IMF-approved reforms most notably, privatisation of the banking sector - bolstered by generous foreign assistance and renewed access to global markets, have generated macroeconomic recovery.

For more on this article, please click on the following link: Pakistan ranked 83 in 'Forbes best countries for business': Daily Times