Apr 02 -
Chashma Nuclear Plant
Pakistan planned to establish another nuclear power plant
with 100 per cent indigenous expertize and resources in six to seven years, said
Dr Ishfaq Ahmed, Chairman of Pakistan Atomic Energy Commission and
adviser-designate to the Chief Executive, on Thursday.
He was speaking at the inauguration ceremony of $600 million
325 megawatt Chashma Nuclear Power Plant.
"Pakistan should not wait for another 30 years to have
another plant. The government is very keen and we hope we will have a third
nuclear plant very soon," Dr Ishfaq said.
"We have to see the Chashma Power Project stabilizing
power generation, economic turnaround in the country and then we can go for the
third plant," he said.
Chashnupp became operational in September last year and it
has already started supplying electricity to Wapda's national power grid.
Chinese minister for science and technology and national
defence Liu Jibin said Chasnupp had received full support from both the
governments of Pakistan and China.
He said the agreement for the project was signed in 1991 and
its construction started in 1993. "The 1993 turned a new leaf in the
cooperation between Pakistan and China for the peaceful use of nuclear energy
based on equality and mutual benefit," the Chinese minister said.
He said the frequent exchange of visits by the leaders of two
countries had laid the foundation for comprehensive cooperation between the two
Dr Ataur Rehman, the minister for science and technology,
called for learning lessons from China in hard work and investment in the human
resource sector and said the two countries should work together in the field of
science and technology and link up their minds for scientific development.
Electricity rate raised
The National Electric Power Regulatory Authority (NEPRA) on
Thursday allowed the Water and Power Development Authority (WAPDA) to increase
power tariff by 8 paisa per unit.
The Thursday hike came on top of last Friday's increase of 12
paisa per unit taking the cumulative increase for domestic consumers to 36 paisa
per unit (kilowatt hour) during the last six months.
WAPDA's Acting Member (Finance) Javed Nizam told reporters
that the increase was allowed under the mechanism called automatic adjustment in
the consumer-end tariff and came into effect from March 27 with retrospective
EoIs invited for UBL privatisation
Privatization Commission (PC) has invited expression of
interests (EoIs) for the sale of 26 per cent management share of the United
Bank, an official announcement said.
The commission has set June 15, 2001, as the last date for
the submissions of EoIs with a non-refundable processing fee of Rs12,000 or
After the pre-qualification process, the prospective buyers
would be provided with additional information on the UBL, PC said.
With 11,873 staff, the UBL has an extensive domestic network,
consisting of around 1,400 branches with a market share of nine per cent. It
operates a focused international network of branches in the UK, the USA, the UAE,
Yemen, Bahrain and Qatar. In export processing zone of Karachi, it is operating
a joint venture — Oman United Exchange Co, besides a subsidiary, United Bank
A.G. Zurich in Switzerland and representative offices in Cairo and Tehran.
ECC okays gas supply to KESC
The Economic Coordination Committee of the Cabinet (ECC) on
Thursday approved the ministry of petroleum's request to supply gas to Karachi
Electric Supply Corporation (KESC).
The meeting which was presided over by finance minister
Shaukat Aziz said that the decision would enable further conversion of KESC's
Bin Qasim Thermal Plant to gas. The gas supply will be 40mm cfd by March 31,
2001 and increase to 176mm cfd by January 1, 2003. The gas will be supplied to
KESC by Sui Southern Gas Pipeline Company Limited (SSGPL).
OGDC to be privatized
The government is most likely to privatize Oil and Gas
Development Corporation (OGDCL) in the form of one consolidated entity by
December this year.
"Consolidated privatization (of OGDCL) is the most
likely option because real value of the company is in consolidation," Altaf
M. Saleem, minister for privatization told. The world is now moving towards
consolidation and there are a number of mergers taking place every day, he
Jobs for Pakistanis
Microsoft, the global software giant, has announced job
opportunities for Pakistani IT professionals at its headquarters in the US.
There are multiple positions available in various technologies, including
Kernel, Graphics, ActiveX, Java, Multimedia, DCOM, SQL, Networking and
Internetworking, said Fazal Khan, Human Resources Manager, Microsoft in a press
statement on Wednesday.
Party-based poll in Oct next year
The chief executive, Gen Pervez Musharraf, declared on Sunday
that the party-based general election would be held in October 2002, or around
In reply to a question at a news conference at the Governor's
House, the CE stated that he was not retiring in October this year, but evaded
the query whether his elevation to presidency was part of his political
"I am not retiring in October. Election will be held in
October 2002, not before that. A few days here and there can be expected.
Govt not to expand privatization list
The government is targeting to complete at least nine major
privatization transactions, before the end of current calendar year, said
Minister for Privatization Altaf M. Saleem.
These include mega transactions like Pakistan
Telecommunication Company (PTCL), Pakistan State Oil (PSO), United Bank (UBL),
Allied Bank (ABL), National Investment Trust (NIT), government's working
interests in nine oil and gas fields, fertilizer companies, Oil and Gas
Development Company (OGDCL) and gas meter factory.