Sindh has produced a record 3 million tonnes of rice this year,
creating a surplus of 1.5 million tonnes for export purposes. This information was
provided during a meeting of rice exporters association with Provincial Minister for Food
and Agriculture, Iftikhar Soomro held here Thursday. The meeting reviewed the bumper
production of rice in the province and problems facing the growers.
Gas for captive power projects
The government has allocated gas for distribution to individual
industrial units for their power generation. The allocation will be made through private
sector, sources said.
The decision to this effect was taken by the Minister for Petroleum and
Natural Resources Usman Aminuddin during his recent visit to Karachi.
Official sources disclosed that initially 10mmcf of gas from Sui
Southern Gas Company (SSGC) source has been approved which could cater the power
generating need of around 100 industrial units in Sindh.
After allowing individual industrial units to run their own power
generators about five years back, the government has to discontinue with the programme on
strong resistance from utility agencies like WAPDA and KESC.
As a result of this many industrial units who had applied for their own
power generation and wanted to open L/Cs for import of generators were discouraged by
successive increase in power rates which made their input cost higher than those
industrial units having their own generating facility.
According to estimates on having in-house generating facility the power
cost for an industrial unit comes down by at least 50 per cent of the cost compared to
power is consumed from a utility agency. This has been one of the major factors which have
rendered Pakistani manufactured goods uncompetitive in the world market.
The working group of KCCI on power generation with its convener Sami
Khan met the Minister for Petroleum and Natural Resources Usman Anunuddin in Islamabad on
November 26 and in the very same meeting the minister in principle agreed to allow 10mmc
gas for onward distribution by the KCCI and not by any government agency.
During his Dec 14 visit to Karachi the minister for petroleum
officially sanctioned the 10mmcf gas from SSGC source to be distributed and allocated by
KCCI to individual industrial units in Sindh.
UMC allowed offshore drilling
Balochistan coastal belt has potential for about six billion barrels of
oil and 90 trillion cubic feet of natural gas resources.
Well-informed sources disclosed here on Tuesday that an Australian oil
and gas company, UMC, had been allowed by the government to work for oil and gas
exploration along the provincial coast mainly for offshore drilling.
Other foreign firms mostly from the United States of America are
already actively engaged in oil and gas exploration in the interior of
Gas resources for Zarghoon north near Quetta are also being tapped.
Genderan gasfield is still under development near Loralai. Prospecting for oil and gas at
Panjgur and Kharan areas is under process, permission for which has already been granted
by the government.
Apart from oil and gas potential, these sources added, latest
geological survey had shown that the province has around 1.3 billion metric tons of copper
and associated minerals in Chagai district, big iron ore reserves in Dilband area near
110 factories suspend ginning operations
All 110 cotton-ginning factories in the area remained closed and the
process of buying phutti also remained suspended. The reasons for this are stated to be
TCP's unhelpful role as a result of which ginners are not in a position to sell their lint
as the agency prefers only Afzal quality and the ginners have a huge stockpiles of Adnas
Meanwhile, cotton spinners of Bahawalpur district have decided to join
the protest campaign from Dec 19, initiated by the ginners of Rahim Yar Khan.
According to ginners, TCP assured the district ginners to purchase
130,000 cotton bales, but it backed out after buying only 30,000 bales and the
compensation for the same is also being denied.
3 foreign firms to start oil, gas exploration
Three oil and gas companied of world fame Murphy of United
States, IPR Transoil Corporation with producing assets in the United States and Egypt, and
Novus Petroleum Ltd. of Australia with the intention to invest $41.5 million for oil
and gas exploration in Kharan, Chagai, Turbat. Musakhel, Barkhan, Loralai and Kohln areas
of Balochistan have come forward following induction of Gen. Musharraf's government in
Official sources said here on Saturday that Murphy Oil Company would
carryout petroleum exploration over in area of 28146 sq km in Kharan, Chagai and Turbat
areas. It would drill three exploration wells to exploit oil and gas reserves involving
risk investment of about $37 million.
Ghandhara to raise paid-up capital by Rs50m
Ghandhara Nissan Limited seeks to raise the paid-up capital by Rs50
million without issue of right shares, a resolution to approve the issue of shares only to
sponsors/directors/promoters, would be moved at the company's annual general meeting to be
held on December 31.
The company proposes to increase the paid up capital to Rsl50.0 million
from Rs100.0 million by the issue of 5 million ordinary shares of Rs10 each at par without
issue of right shares to all the existing shareholders in proportion to their existing
The federal government is considering decentralization of distribution
system of wheat quota among the flour mills at district level after putting a ban on the
establishment of new units in the country.
Official sources told that decision to the effect is expected in the
light of regular wheat shortage/ flour crises in the country every year.
Sources said, in this connection, the federal government has started to
collect required data about all the mills set up in the country at district level so that
a comprehensive policy could be formulated to manage regular flour crises in the country.