Aug 13 -
19 , 2001
Pakistan to demine areas in Lebanon
Pakistan has agreed to dispatch very shortly 300
troops besides training 12 Lebanese officers here to carry out
demining operations around Beirut and Southern Lebanon.
President General Pervez Musharraf and Lebanese
Prime Minister Rafic Al-Hariri also agreed here on Wednesday to
strengthen relationships in the field of defence, training, diplomacy,
commerce and trade besides other areas of mutual interest. "We
have already reached agreement on demining assistance to demine areas
around Beirut and Southern Lebanon and about 300 troops will be sent
to Lebanon as soon as possible to assist our brothers," said Gen
Speaking to journalists at a joint press conference
with Lebanese Prime minister following talks spanning over an hour
here at the chief executive office, the president said his country was
ready to train as many Lebanese officers as required.
The prime minister of Lebanon Rafic Al-Hariri said
the two sides had very fruitful discussions and the President had
promised to assist Lebanon in demining operations by Pakistan Army.
"Usually they train five to eight officers but this year we will
send 12 officers," said Mr. Hariri.
The prime minister said: "We have agreed to
exchange visits of ministers concerned to try to strengthen economic
relations and find ways in which Pakistan can benefit from Lebanese
position as a commercial hub of Arab world and Europe".He said he
had been given a warm welcome here and Lebanon considered Pakistan as
a friendly country and the president as the brother of Lebanon.
To a question about strategic relationship, the
Lebanese Prime Minister said: "We are facing very similar
challenges and... we stand by with Pakistan and support Pakistan to be
a member of the United Nations Security Council". He said the two
sides have to get together in many fields for the benefit of both.
BoI in search of investment potential
Pakistan will hold investment conferences in the
United Arab Emirates, Singapore, Malaysia, South Korea and China
during October-November this year. Sources close to Board of
Investment say similar conferences will also be held in Japan, South
Africa and Australia later on.
They say the Pakistani businessmen can explore the
possibility of promoting in the above-listed countries the investment
and business opportunities in Pakistan in the following areas: (i)
mineral development (ii) oil and gas (iii) information technology (iv)
agro-based industries and corporate farming (v) privatization
programme (vi) small and medium size enterprises (vii) tourism and
(viii) businesses well suited to overseas Pakistanis.
The sources said BoI has informed the business
community of the government's plan to hold investment conferences in
the countries and has asked them to identify some specific projects
that businessmen want to undertake as joint ventures with their
counterparts in these countries.
Merger of four companies proposed
Ibrahim Group proposes to merge four companies
under its fold - Ibrahim Textile Mills Limited, A.A. Textile Mills
Limited, Zainab Textile Mills Limited and Ibrahim Energy Limited -
into the flagship company, Ibrahim Fibres Limited. All five companies
are listed at the stock exchanges.
The meeting of the board of directors of five
companies held separately in Lahore last Saturday, approved the
"scheme of arrangement for amalgamation" of companies into a
A senior executive at the group declined to reveal
the modalities of the merger, saying that it would be premature to
reveal more until the scheme has received sanction of the court and
the approval by shareholders. But analysts believe that the management
is looking forward to completing the paperwork by end-September and
will be able to issue a combined balance sheet of the merged company
for the year to end December 31, 2001.
Shaukat, Qazi meet Chinese premier
Foreign Minister Shaukat Aziz and Communication
Minister Javed Ashraf Qazi on Thursday had a meeting with the Chinese
Prime Minister Zhu Rongji at People's Great Hall, during which
wide-ranging matters of bilateral interests were discussed.
"I had a very useful meeting with Chinese
Premier for developing socio-economic relations and strengthening the
ongoing efforts to maintain peace in South Asia," Shaukat Aziz
told APP. He said he delivered a special message of goodwill by
President General Pervez Musharraf to the Chinese prime minister.
Great scope exists for Sinopec investment
Federal Minister for Petroleum and Natural
Resources, Usman Aminuddin on Thursday said that tremendous potential
existed for Sinopec investment in the oil and gas and privatization of
petroleum sector that would open up new vistas of bilateral relations.
He was talking to the Sinopec delegation headed by
vice President, Qin Xianghua, at a farewell meeting. Usman Aminuddin
said that Sinopec delegation during its stay in Pakistan had had
fruitful discussions on the prospects of oil and gas collaboration,
investment opportunities in the privatization of petroleum sector, and
assured them his all-out support and cooperation in this regard.
OGDCL, PSO sell-off by 2002
Oil and Gas Development Company Limited (OGDCL) and
Pakistan State Oil (PSO) will be privatized by the first quarter of
2002. Minister for Privatization Altaf M. Saleem stated this here on
Tuesday during a meeting with a five-member Chinese delegation
visiting Pakistan to evaluate prospective opportunities for investment
in the oil and gas sector.
Expressions of Interest (EoIs) for OGDCL and PSO
will be invited later this year and their privatization would be
completed by the first quarter of 2002, Saleem said. Briefing the
delegation about the opportunities in country's privatization
programme, Saleem highlighted the transaction relating to the
government's working interest in nine oil and gas fields.