INDUSTRY

 

Sep 09 - 15, 2002

 

1.INTERNATIONAL

2. INDUSTRY

3. FINANCE

4. POLICY

5. TRADE

6. GULF

 

PRESIDENT REVIEWS PACE OF MEGA PROJECTS

President Pervez Musharraf said on Tuesday that a number of mega projects worth billions of rupees for Karachi were being implemented at an exemplary fast pace and many of them were progressing ahead of schedule.

 

He was addressing a select gathering which comprised Nazims and Naib Nazims of Sindh, industrialists, businessmen, intellectuals, editors, senior journalists and women representing various walks of life at the Governor's House. Governor Mohammedmian Soomro, Corps Commander Tariq Waseem Ghazi, provincial ministers, and the Sindh chief secretary and senior Sindh government officials were also present.

The president said the projects reviewed include the Northern Bypass which is progressing well, and the Lyari Expressway which is also going well and specially the resettlement of the people who were being shifted from slums.

He said it was unfortunate that adverse reports are projected some time in the media as if something wrong was being done.

He said the people who are being shifted from these slums had been living in hutments on the bed of Lyari river in a pathetic condition amid garbage and faced difficulties when the river flooded. They are being allotted 80 square yards plots, with cash Rs 50,000.

These people will come out of unhealthy conditions and rehabilitated at a place where they will have schools, dispensaries, electricity, sewerage, Sui gas and other facilities and they will have ownership of their houses and still if it is being projected adversely, it is unfortunate.

He then referred to review made with regard to 100 mgd K-III water supply project for Karachi and said on completion, the water supply problem of Karachi would be resolved to a great extent.

MANGLA DAM LEVEL TO BE RAISED: MUSHARRAF

President Gen Pervez Musharraf said on Tuesday the government would increase the level of Mangla Dam by 30 feet which would ensure the availability of an additional 300mft water for Sindh.

Addressing the Nazims of Khairpur, Sukkur and Ghotki and some councillors at the Governor's House, the president said he would lay foundation of the project later this month and it would be completed in four years.

The president said that Allah had blessed Pakistan with plenty of water and "our problem is not its shortage but its equitable distribution".

4 FOREIGN FIRMS PREQUALIFIED FOR THAR COAL STUDY

The government has prequalified four foreign firms for award of Rs198 million contract to conduct a feasibility study of Thar Coal deposits in Sindh province.

These companies include Rheinbraun Engineering and Deutsche Montance Technologie of Germany, Marston & Marston of the United States and Harworth Mining Consultancy of the United Kingdom.

All the four firms on Thursday made presentations to a special steering committee on Thar Coal bankable feasibility study. The steering committee meeting was presided over by director general of Geological Survey of Pakistan (GSP) and attended by senior officers of petroleum ministry, secretary and director general mines and mineral development, Sindh and officials of the Sindh Coal Authority (SCA).

JAPAN, PAKISTAN TO BOOST ECONOMIC TIES

Japan and Pakistan, agreed to enhance economic cooperation in a meeting between Seiken Sugiura, Sr Vice-Minister for Foreign Affairs, Japan, and Finance Minister, Shaukat Aziz, on Thursday.

The finance minister thanked the Japanese visitor for the US$300 million assistance and their support in many fields.

Japan is Pakistan's largest creditor and has about US$5.3 billion credits as outstanding. This debt is being re- profiled.

The Japanese authorities are finalizing a draft agreement in this regard.

CHASHMA N-PLANT TO BE CLOSED FOR REFUELLING

The Chashma Nuclear Power Plant (Chashnupp) will be shut down for refuelling and cleaning at the end of the current month. This outage is planned for 81 days.

The first refuelling outage (RFO), the Chashnupp officials said was always much longer because most of the equipment needs overhaul and inspection after first prolonged operation.

PAKISTAN STEEL PRODUCTION RATIO UP

Pakistan Steel has made a substantial achievement by increasing the ratio of steel production from 37 tons per employee to 59 tons per employee and Rs0.63 million to Rs1 million in terms of cost, during the last two years.

"During this period the Pakistan Steel also made a significant contribution towards development of environment," said chairman, Pakistan Steel, Lt-Col Mohammed Afzal, while speaking at the inaugural session of 8th training course on "Productivity improvement in foundry industry" on Monday.

OIL, GAS DISCOVERED NEAR SANGHAR

The Oil and Gas Development Company has struck sizable oil and gas quantities in Sinjhoro block, 20 kilometres from Sanghar town in Sindh province.

"Post completion short duration test on half inch choke size, the Resham well has produced 1,400 barrels of condensate and six million cubic feet of gas per day at a wellhead flowing pressure of 251 PSI having an API gravity of 52 degrees", the company announced on Sunday.

The discovery at Resham well-1 in Sinjhoro exploration licence is the second in a week's time and fourth in a row during the current year each from a distinctly different reservoir horizons. Orient Petroleum Inc is the joint venture partner with OGDCL in the Sinjhoro block.

On Wednesday last, the company had announced discovery of 425 barrels of condensate from its Chak-02 well in the same region.