AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: Kuwait extends $40m for Neelum-Jehlum power project
According to MR Securities,
Kuwait has extended $40 million to Pakistan for the construction of the de-sander a vital part of the strategic $333.3 billion Neelum-Jhelum hydropower project.
State Bank sees decline in FY12 textile exports
The State Bank of Pakistan (SBP) has feared that the textile exports may fall short of last year due to worsening energy shortage and recession in the Eurozone.
UNIDO plans to set up Industrial Modernising Centre
The United Nations Industrial Development Organization (UNIDO) is working on the idea to set up an ‘Industrial Modernising Center’ in Pakistan as to bring the local industry at par with the international standards.
Gas usage for fertiliser more economical
Gas has a higher economic value for fertiliser production compared to power sector as using natural gas for fertiliser has a higher savings relative to using it for power generation by Rs23 billion.
‘Value addition investment potential high in agri sector’
The huge gap between Sindh’s livestock, dairy, fisheries, poultry and agriculture production and the capacity to process the produce, provides opportunity for various types of investments through value addition.
SBP’s reserves fall by $2 billion in first half
The rising current account deficit is rapidly depleting the country’s foreign reserves and had absorbed about $2 billion from the State Bank of Pakistan’s reserves in the first half of current fiscal year.
Pakistan to qualify for IMF ‘Special Data Dissemination System’
The International Monetary Fund (IMF) has said that Pakistan will qualify for the Fund’s ‘Special Data Dissemination System’ in terms authenticity, if it goes for compiling quarterly numbers of Gross Domestic Production (GDP) growth.
IP gas line to be financed via public-private partnership
The Iran-Pakistan (IP) gas pipeline project would be financed through public-private partnership (PPP) with a debt equity ratio of 70:30 percent with the government estimating that 100 km pipeline construction, from Iran border to Gwadar, would cost $150 to $200 million.
Award of Kohala hydropower project contract: Pakistan likely to suffer Rs 577 billion loss in 30 years: TI Pakistan
The award of 1100 MW Kohala hydropower project contract to China International Water and Electric Corporation (CWE) of China, being considered as controversial by Transparency International Pakistan, may result in an estimated loss of Rs 577 billion in 30 years.
EAD, NJHPC sign accord to make $40 million Kuwaiti loan effective
The Economic Affairs Division (EAD) and Neelum Jhelum Hydropower Project Company (NJHPC), on Monday signed Subsidiary Loan Agreement that was a legal requirement to make the loan agreement between Kuwait and Pakistan effective.
After absorbing levy, LPG producers may face Rs192m loss
State-owned gas producing companies are likely to face a monthly loss of Rs192 million after absorbing most of the petroleum development levy imposed on domestic production of liquefied petroleum gas (LPG).
‘High profits encourage textile industry to shift to Bangladesh’
The main reasons behind the shifting of textile industry to Bangladesh are not electricity and gas outages and power tariffs in Pakistan, but the preferential treatment of Dhaka in the European Union and the United States.