Feb 19 - 25, 2001
Textile machinery offered for sale
The Privatization Commission (PC) has offered textile
processing machinery, of Lasbella Textile Mills for sale. A press release said
the commission is offering the machinery for sale for on "as is where
is" basis and will receive formal bids from the prospective bidders by
It is a project of Iran Pakistan Industries (Pvt) Limited
situated at Uthal Balochistan, near Karachi. The sale is being conducted through
a competitive bidding process, it said.
The processing section is a part of a fully integrated unit
of 50,000 spindles, 1100 looms with complete dyeing and finishing facilities of
around 80,000 meter per day. Production capacity of variable width ranging from
36" to 96". The plant was set up in 1980 and was shut down in 1984 and
as such machinery has been barely used and is well maintained.
The list of the machinery being offered for sale is available
free of cost from the offices of PC, Islamabad and Iran Pakistan Industries Ltd,
However bidding documents can be obtained from PC office from
February 19, on any working day on payment of non-refundable fee of Rs5,000
The interested parties can inspect the machinery on prior
appointment. PC is also holding a pre-bid conference at the conference room of
PIDC, Karachi on March 12, to facilitate a better understanding of the bidding
process and respond to the queries of the prospective bidders regarding the sale
of machinery. The bidding shall be held on March 19, in a manner detailed in the
instruction to bidders.
Raising of dam's height to cost Rs53bn
WAPDA's proposed plan to raise the height of the Mangla
reservoir by 40 feet will cost Rs 53 billion including Rs. 20 billion for
population resettlement, its learnt on Monday.
The raising of dam's height, which has already been approved
by Chief Executive General Pervez Musharraf, entails displacement of around
40,000 people living in over 7,000 houses falling within the project area.
The storage capacity of Mangla Dam will be increased by 3.10
MAF (million acre feet) and its energy output will be enhanced by 18 per cent by
raising its height to 40 feet, said the feasibility report prepared by WAPDA, as
a part of its 25-year vision plan.
WAPDA has already initiated work for preparing engineering
design and tender documents, which, officials said, would take at least 18
months before starting physical work on the project.
Pakistan, China to sign deal for fighter jet
Pakistan and China are set to sign a formal agreement for the
joint production of the Super 7 FC-1 fighter jet, a local newspaper reported. It
said the pact was likely to be signed during the visit of Air Force Chief Air
Chief Marshal Mushaf Ali Mir to China later this month. The jet is roughly of
the same class as the American F-16.
The newspaper quoted an official as saying that the air chief
would visit China on February 21 to sign the deal for the joint production of
the fighter jet by the Pakistan Aeronautical Complex and Chinese Aircraft
"Sensing the emerging security situation in the region,
the government is committed to equip the Pakistan Air Force with modern war
machines and fighter jets," the official said.
He said the project had been lingering on for the last three
years due to the inability of former bosses of the PAF to take necessary
decisions about various sub-systems to be installed on F-7MG and Super 7 FC-1
SMEDA marble plan not approved
The marble and granite sector development plan, prepared by
SMEDA, NWFP region, well over two years ago still awaits approval from the chief
executive secretariat for getting formally launched, sources told.
It was during the Nawaz Sharif government that provincial
SMEDA, finalized the assigned preparation of the development plan. However, it
could not be announced as the then SMEDA chairman sought some changes in the
Defence budget not to go up
The federal cabinet on Wednesday agreed in principle not to
increase the defence budget and keep it "constant" as has been
proposed by the Debt Reduction and Management Committee.
"Most of the recommendations of the committee to reduce
huge debt burden were appreciated by the cabinet members. Now the government
will implement these recommendations," said Finance Minister Shaukat Aziz,
while briefing newsmen.
Indian IT firm
A Bangalore (India) based IT company has offered to set up
its offshore office and facility centre in Pakistan and has approached the
Islamic Chamber of Commerce and Industry (ICCI) to inform it about the relevant
The Indian IT company with a Muslim chief executive is keen
to know about the IT policies and other formalities involved in setting up
business in Pakistan. It has shown interest in providing the Internet and
e-commerce facility to all the Muslim countries.
Ecological hazards cause $1.8 billion loss
Pakistan's economy is suffering an annual loss of US$1.8
billion owing to environmental hazards, Federal Minister for Environment, Local
Government and Rural Development, told a news conference on Monday.
The Minister accompanied by the Secretary Shafqat Shah Eizdi
said, the cost of environmental damage was taking its toll due to mismanagement
of six environmental areas — municipal and solid waste, urban air pollution,
cultivable and rangeland degradation, deforestation and destruction of mangrove
Centre lowers wheat output target
The federal government has been forced to revise downward
wheat production target for 2000-2001 again by 1.25 million tons within three
months as the provinces have refused to give production commitment due to "unfavourable
farm sector policies of the centre this year".
This was disclosed in a summary on wheat situation 2000-2001
submitted before the Economic Coordination Committee (ECC) of the cabinet which
met on Friday.