Dimo autos to Pakistan: Sunday Times

Diesel and Motor Engineering Company (Dimo) is gearing to start a car assembly outside Colombo to assemble cars and export to South Asia, according to Dimo sources.

"Dimo is planning to do this by early next year in the 17.5 acre land they bought about a year ago," one source told The Sunday Times FT. He said the company is looking to export cars to Pakistan initially. "There is a market there as Pakistan does not seem to like Indian branded automobiles," he said.

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US grants Pak F-16 upgrade funds: Economic Times

WASHINGTON: The Bush administration has cleared the transfer of $227 million of foreign military funds (FMF) to Pakistan for its F-16s mid-life update programme, despite opposition to it from two Congressional leaders. 

According to a newspaper, the upgraded F-16s and additional funds will be used as a counter insurgency measure in Pakistan's volatile Federally Administrated Tribal Areas (FATA). Earlier, two senior House Members, Howard L Berman, chairman of the House Foreign Affairs Committee, and Nita M Lowey, expressed concern that the proposal would "divert funds from more effective counter-terrorism tools." 

They requested a hold to be placed on the planned reprogramming and proposed that Congress provide 200 million dollars in budgetary support to Pakistan.

For more on this article, please click on the following link: US grants Pak F-16 upgrade funds: Economic Times

Accord to produce world class buses: Dawn

KARACHI, Aug 29: The Daewoo Bus Corporation (DBC) of Korea has decided to share hands with the Afzal Motors Private Limited (AMPL) by establishing a joint venture company (JVC), namely Daewoo Pak Motors (Pvt) Limited (DPML), with a 50 per cent equity. The joint venture agreement will be worth $20 million.

The agreement was signed by DBC vice chairman Yeo Sung Koog and AMPL Managing Director Mohammad Ayub Khan on behalf of their organisations at a ceremony held at the plant on Thursday.

The company will produce world class luxury buses for domestic and export market. The joint venture will generate new job opportunities directly and indirectly.

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Foreign investment surges 40pc in July: The News

By Shahzad Anwar

KARACHI: Net inflow of foreign investment in the country augmented by 40 per cent during July 2008 as compared to the same period last year.

According to latest figures of the State Bank of Pakistan (SBP), total foreign investment in the country stood at $220.5 million during the first month of fiscal year 2008-09 compared to $157.5 million during July 2007. The quantum of Foreign Direct Investment witnessed a substantial increase of 76.1 per cent to $340.7 million during July 2008 as compared to $193.5 million in the same period of fiscal year 2007-08.

It is pertinent to note that during fiscal year 2007-08, total foreign investment declined to $5.193 billion which was recorded at $8.428 billion in financial year 2006-07. However, during last fiscal year the net inflow of FDI slightly improved to $5.153 billion as compared to $5.139 billion a year back.

For more on this article, please click on the following link: Foreign investment surges 40pc in July: The News

Mushtaq's forced retirement ends greatest era for Sussex: The Independent

By Angus Fraser, Cricket CorrespondentThursday, 28 August 2008

Getty Images

A glorious chapter in county cricket and the most successful era in Sussex's history was brought to an end yesterday when Mushtaq Ahmed, the Pakistan leg-spinner, announced his retirement from first-class cricket. The decision, enforced by a persistent knee injury, finishes the career of the most influential cricketer in the modern day county game.
When Sussex signed him for the 2003 season not even the club expected him to have such an impact. His initial deal was on a modest basic salary with huge bonuses for taking wickets. The contract worked. Mushtaq claimed five 10-wicket hauls to become the first bowler in five years to take 100 county championship wickets in a season, and Sussex's 164-year wait for the county championship ended.
It would by grossly unfair on the other members of Chris Adams's side to say that Sussex were a one-man team, but in the two following seasons, summers where Mushtaq had less success, the county finished in third and fifth place. But he was back to his best in 2006 and 2007 taking 192 wickets at an average of 22.6 to win Sussex two more county titles.

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Pakistan's KAPCO FY08 net profit rises 37 percent: Reuters

KARACHI, Aug 29 (Reuters) - Pakistan's Kot Addu Power Co (KAPCO) (KAPCO.KA: Quote, Profile, Research), the country's largest power producer held by private investors, posted a better-than-expected 37 percent rise in full-year net profit on Friday.
KAPCO said it earned a net profit of 7.966 billion rupees ($105 million) in the year ending June 30, compared to 4.99 billion rupees last year.

For more on this article, please click on the following link: Pakistan's KAPCO FY08 net profit rises 37 percent: Reuters

Charlie Wilson's Chair: Courant

Endowment Controversial
By BARRY SHLACHTER McClatchy Newspapers
August 29, 2008

Call it Charlie Wilson's second war.A dozen University of Texas professors are protesting a plan to endow a Charlie Wilson Chair in Pakistan studies, saying the former East Texas congressman's efforts to arm the Afghan resistance against the Soviet Union ended up boosting Osama bin Laden and nurturing the Taliban movement.A sharply worded letter sent to administrators does not take issue with Wilson's image as a living-large womanizer, as depicted in the Tom Hanks movie "Charlie Wilson's War."Rather, the scholars describe him as a poor role model for students because of all the human misery they say was an unintended consequence of his geopolitical machinations.

"Mr. Wilson's central involvement in the cold war in South Asia does not warrant the honor of establishing a university chair in his name," the professors wrote in their letter to Randy Diehl, the liberal arts dean. "A named chair sends a public message that not only the holder of the chair, but its donor, represent standards to which the university and larger community should aspire."Kamala Visweswaran, an associate professor of anthropology who signed the letter, said the professors were surprised to learn that the university is moving forward with the idea.

For more on this article, please click on the following link: Charlie Wilson's Chair: Courant

Empires of the Indus by Alice Albinia: Guardian

Alice Albinia

In a land where it seldom rains, a river is as precious as gold.

Water is potent: it trickles through human dreams, permeates lives, dictates agriculture, religion and warfare. Ever since Homo sapiens first migrated out of Africa, the Indus has drawn thirsty conquerors to its banks. Some of the world's first cities were built here; India's earliest Sanskrit literature was written about the river; Islam's holy preachers wandered beside these waters. Pakistan is only the most recent of the Indus valley's political avatars. I remember the first time I wanted to see the Indus, as distinctly as if a match had been struck in a darkened room. I was twenty-three years old, sitting in the heat of my rooftop flat in Delhi, reading the Rig Veda, and feeling the perspiration running down my back. It was April 2000, almost a year since the war between Pakistan and India over Kargil in Kashmir had ended, and the newspapers which the delivery man threw on to my terrace every morning still portrayed neighbouring Pakistan as a rogue state, governed by military cowboys, inhabited by murderous fundamentalists: the rhetoric had the patina of hysteria. But what was the troubled nation next door really like? As I scanned the three-thousand-year-old hymns, half listening to the call to prayer, the azan, which drifted over the rooftops from the nearby mosque (to the medley of other azans, all slightly out of sync), I read of the river praised by Sanskrit priests, the Indus they called 'Unconquered Sindhu', river of rivers. Hinduism's motherland was not in India but Pakistan, its demonized neighbour.

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Pakistan to spend PKR 670 million for engaging consultants : Steel Guru

Business Recorder reported that Capital Development Authority is likely to approve PKR 670 million for hiring consultancy services for the detailed engineering design of 6th, 10th and 11th avenues as well as six other projects in its next Development Working Party meeting.Officials told Business Recorder that the date of the meeting has not yet been decided but it is expected within a few weeks. Officials further said that Mr Kamran Lashari chairman of Capital Development Authority has given strict directives to engineers that while designing the avenues they should consider all the flaws in the previous avenues.Sources told this scribe that the projects include development work in Orchard Scheme, Murree Road, procurement of machinery for up gradation of street lights system, provision of additional facilities at Pak Secretariat, construction of mosque at Rawal Town, retention wall along J Salik Colony, Sewage Treatment Plants for Rawal Lake, I-15 and I-16.The official said that 10th Avenue, that would have grade separations at eight places, would join IJ Principal Road with Khayaban-e-Iqbal, passing through sectors F-9 and F-10 on Northern and I-9 and I-10 on Southern ends. The avenue would link IJP Road with Nullah Lai Expressway.

For more on this article, please click on the following link: Pakistan to spend PKR 670 million for engaging consultants : Steel Guru

Pakistan to pip India in list of world's top rice exporters: Economic Times

NEW DELHI: For the first time in several years Pakistan is expected to pip India in the list of rice exporting countries because of export curb imposed here. According to the latest report of the US Agriculture Department (USDA), India will lose two ranks in the list to become the fourth largest rice exporter in calendar year 2008 while Pakistan would improve its position to third. In the USDA list of world's top 15 rice exporting countries, Thailand will remain at the top with an estimated 10 million export followed by Vietnam at 4.7 million tons. The report said Pakistan may export 3 million tons while India 2.8 million tons in 2008. India's rice exports may further take a dip to two million tons in 2009 while Pakistan will raise its overseas supply to 3.15 million tons, it said. Incidentally, this development has come in the 61st year of independence as both countries were liberated from the British rule in 1947. Commenting on the development, All India Rice Exporters Association President Vijay Sethia said, "India lost the opportunity which Pakistan and Vietnam took."

For more on this article, please click on the following link: Pakistan to pip India in list of world's top rice exporters: Economic Times

China to fully finance Diamer Bhasha dam in Pakistan: Daily.pk

In a major development regarding the construction of Diamer Bhasha dam, China has agreed to completely finance the $8.5 billion project, sources in Water and Power Development Authority (WAPDA) told on Thursday. 

German Company Lemhyer has issued final draft of the dam in which the company has projected the cost of dam at $8.5 billion against the earlier projected cost of $6.5 billion in the year 2005. Government wants to start the construction work on Bhasha dam in the year 2009, sources added. 

Pakistan has turned to China regarding the financing of the project after World Bank refused to add the project in the $1.4 billion aid for current financial year 2008-09. They further said that World Bank lending rates are higher and China would provide loan on lower rates. Pakistan had submitted the draft of detailed engineering design of the dam and in response China has agreed to provide financing for the said project. Sources informed that China has also great expertise in the working on big dams and it has expert labour force and machinery for such purposes. 

Chinese government has offered Pakistan to provide skilled labour for the construction of the Bhasha dam as it has 17,000 skilled labourers who have worked on three Gorges Dams in china, which are generating 30,000MW electricity. They said that China has also assured that it would hire a company to provide financing to Pakistan for the construction of the dam. Earlier, Pakistan was looking at Asian Development Bank (ADB) and World Bank.

For more on this article, please click on the following link: China to fully finance Diamer Bhasha dam in Pakistan: Daily.pk

Pakistan Celebrates Its Independence Day: Turkish Press

ANKARA - The 61st anniversary of the Independence Day of Pakistan was celebrated in Ankara on Thursday with traditional enthusiasm and fervor. 

A flag-hoisting ceremony was held at the Pakistan Embassy in the presence of the Pakistani community and embassy officials. 

Ambassador Syed Iftikhar Hussain Shah unfurled and hoisted the national flag to the sound of the national anthem and read out messages from the President and the Prime Minister of Pakistan. 

The Ambassador while addressing the Pakistani Community highlighted the sacrifices made by the Muslims of the subcontinent for the independence of their motherland Pakistan. He said that the safeguarding the independence is more difficult than achieving it and it is, therefore, our foremost duty to demonstrate firm determination for upholding the unity, integrity and solidarity of the country. 

"Pakistan is passing through a difficult phase of its history. In the prevailing geo-political and economic situation our adversaries are trying to destabilize Pakistan from several fronts, internal as well external. The objective of Pakistan can never be achieved unless we eradicate the evils of terrorism, extremism and intolerance from our society and establish socio-economic justice in our country," he said.

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Pakistan to generate 16,000MW of additional electricity by 2015: Khaleej Times

ISLAMABAD — Pakistan has decided to generate 16,000MW of additional electricity by 2015, a new plan that requires needs $30 billion investment, said Water and Power Minister Raja Pervez Ashraf.


Addressing a news conference here yesterday after the inaugural function of Intergovernmental Conference on Central Asia – South Asia Regional Electricity Market, the minister said the government would invest $10 billion for the additional capacity and generate another $20 billion through the private sector by providing enabling environment. He said the load shedding would come to an end by end of next year.

He said the government organised a roundtable conference with international investors recently in Washington that was attended by 30 leading global players of coal-based power generating companies. The government would soon hold international competitive bidding to set up coal-fired power plants in the country, he said.

Responding to a question he dispelled the impression that the World Bank had declined to finance Bhasha dam and added the construction work on the project would be initiated next year.

The minister said the import of 1000MW electricity from Tajikistan and Kyrgyzstan to Pakistna under the Central Asia – South Asia (CASA 1000) project would promote regional energy trade and lead to greater regional cooperation in economic and energy fields.

Responding to a question about security situation in Afghanistan and its impact on the import of electricity from central Asia, the minister said the project was in the economic interest of the neighbouring country and hence its people would ensure the project to become a reality. He said the law and order problem in Afghanistan would not hamper implementation of the project.

He said the import of 1000MW power to Pakistan form Central Asian states through Afghanistan will be a great milestone for the economic development of the member countries. The four nations are expected to sign on Monday an intergovernmental council agreement for import of electricity to Pakistan and Afghanistan from Tajikistan and Kyrgyzstan

For more on this article, please click on the following link: Pakistan to generate 16,000MW of additional electricity by 2015: Khaleej Times

Pakistani tractors attract African countries: The News

Wednesday, August 06, 2008
By our correspondent

ISLAMABAD: South Africa and surrounding countries are interested in importing Pakistani tractors and their parts as the Pakistani Trade Office there is receiving several queries in this regard on a daily basis.

This was revealed in a meeting of the sub-committee on fiscal issuesñindigenisation formed under the Auto Industry Development Programme (AIDP) by the Engineering Development Board (EDB) which met here on Tuesday.

A representative of a major motorcycle manufacturing company in the country informed that they were about to make a breakthrough in the African market with the signing of an agreement regarding the exports of motorcycles. However, the committee felt that the progress on the export front was very slow and the industry should take remedial measures to increase it in order to offset the trade deficit, said a news statement issued here. It requested its sister committee on exports to thoroughly analyse the situation and recommend measures.

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World oil consumption: Pakistan ranks 38th: Dawn

KARACHI, Aug 5: Pakistan ranked 38th in world oil consumption with 324,000 barrels per day while the United States held the number one position with a consumption of 20,730,000 bbl/day.

According to CIA World Factbook as of June 14, 2007, China, which came second after the US, consumes 6,534,000 bbl/day, while Japan’s consumption stood at 5,578,000 bbl/day.

For more on this article, please click on the following link: World oil consumption: Pakistan ranks 38th: Dawn

Pakistan guarantor of Lanka's sovereignty: Asian Tribune

Tue, 2008-08-05 05:34 

By Janaka Perera in Colombo

Colombo, 05 August, (Asiantribune.com): Sri Lanka Broadcasting Chairman Hudson Samarasinghe said yesterday (August 4) that India cannot threaten and bulldoze her way into Sri Lanka in the same way she did in 1987 because the world has changed much since then. 

Samarasinghe recalled how the Indians – during the "Operation Vadamarachchi" - 'appealed' to the then Sri Lankan Prime Minister Ranasinghe Premadasa, "Please tell your President to stop the war" That was the start of the Indian interference that prevented Sri Lanka from nipping the Tiger menace in the bud. (Premadasa, along with the National Security Minister Lalith Athulathmudali, was among the strongest opponents of Indian intervention). 

The SLBC Chairman made this observation during his usually hard-hitting, daily news analysis over the Isira Sinhala Radio Channel of which he is the CEO. Participating with him in the program regularly is Shan Wickremasinghe, Chairman / Proprietor, Teleshan Networks Limited (TNL) which operates Isira.

Samarasinghe however stressed the need for Sri Lanka to prepare to defend herself if Tamil Nadu one fine day secedes from India. In the event of TN becoming an independent State there is absolutely no doubt that she will invade Sri Lanka over the Tamil issue, he warned. 

These comments came in the wake of the reported results of a recent survey conducted by the Tamil Nadu magazine 'Ananda Vikatan' which stated that 54.25 percent of people there support the LTTE and that many of them were proud that the Tigers possessed a standing army.

Samarasinghe also drew attention to the BBC report on Tamil National Alliance Leader R. Sambandan meeting Indian Prime Minister Manmohan Singh during his Sri Lanka visit. Sambandan has reportedly told the Indian Premier that if the LTTE is branded a terrorist organization then the Sri Lankan government was a terrorist organization three times over.

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Pakistan saves $100 million by winning case in London court: Daily Times

* Case the result of a 1995 agreement for the construction of housing facilities for Pakistani pilgrims in Makkah 
* Judgement says govt wasn’t party to agreement

ISLAMABAD: Pakistan has saved an amount of $100 million – including an award of $70 million, costs and interest – by winning a case in the Queen's Court of London against a Saudi company, Dallah Real Estate and Tourism Holding Company, a Religious Affairs Ministry official here said.

According to a judgement announced by the Queen's Court, the court accepted the request of the government of Pakistan by setting aside an ex parte order issued by Mr Justice Christopher Clarke earlier. The Commercial Court of Queen's Bench Division of the High Court of Justice, London, had announced on August 1 a reserved judgement in the case of Dallah Real Estate and Tourism Holding Company, a Saudi Arabian company of the Al Baraka Group, and the Ministry of Religious Affairs, Government of Pakistan.

According to details given by a senior official of the Ministry of Religious Affairs, the matter was heard in London from July 8 to 10, 2008. The case was the result of a proposal made in 1995 by Mr. Shezi Naqvi, a director of one of the Al-Baraka companies to the government of Pakistan that Dallah be permitted to provide a housing complex in Makkah/Medina on term lease for use of Pakistani pilgrims.

Agreement: In July 1995, an agreement was executed whereby Dallah was to acquire land within Makkah for construction of housing facilities for Pakistanis to perform Haj and Umra. 

In January 1996, an Ordinance was promulgated to establish the Awami Haj Trust (AHT). The AHT entered into an agreement with Dallah. When the then president Farooq Ahmed Khan Laghari dismissed the government of the day, the ordinance was not re-promulgated. As a result, AHT ceased to exist.

The agreement between Dallah and AHT had an arbitration clause. Dallah commenced arbitration proceedings against the government claiming $70 million in damages. A three-member arbitration tribunal consisting of Dr Ghalib Mahmasssani, Lord Mustill and former Chief Justice of Pakistan Justice Dr Naseem Hassan Shah heard the case. 

For more on this article, please click on the following link: Pakistan saves $100 million by winning case in London court: Daily Times

$25 trillion Thar coal reservation Fate of Pakistan could be changed: PEW F.P. Report: The Frontier Post

Islamabad: Pakistan Economy Watch (PEW) has said that the coal deposits in Thar can change the fate of Pakistan if utilized in a proper way. It can save oil import bill, reduce unemployment and help strengthen economy, rupee and forex stocks. In a statement issued here Monday, Dr. Murtaza Mughal, President of Pakistan Economy Watch said that 185 billion tones of coal worth 25 trillion dollars can not only cater for electricity requirements of whole country for next 100 years but also save almost four billion dollars in staggering oil import bill. "The project which is in limbo since a decade can help thousands of households by providing employment and help save oil import bill by $4-4.50 billion and help forex reserves to swell. It will also stabilize sliding rupee," he said. He said the coal power generation will cost Pakistan 5.67 rupees per unit while power generated by Independent Power Projects cost Rs 9.27. There is a remarkable difference that will certainly life economy of the country and will provide a break to poor. Dr. Murtaza Mughal said that the German, Chinese and other companies have not only carried out surveys and fusibilities of this project but also offered 100 percent investment in last 7-8 years but the petroleum barons always discouraged them in a very systematic way. He demanded a probe into the matter as some elements deprived people of Pakistan from cheap source of energy for too long in their own interest.

For more on this article, please click on the following link: $25 trillion Thar coal reservation Fate of Pakistan could be changed: PEW F.P. Report: The Frontier Post