As a result of berthing facility given to these
vessels, Korangi Fish Harbour has earned about Rs9 million in revenue
during this period.
A spokesman for the harbour told that during four
months it earned around Rs3.225 million towards commission on landed
fish catch at a rate of $40 per ton, around Rs95,000 as berthing fee and
development cess Rs5.725 million.
Under the Fishing Policy 2001, the government has
allowed 20 medium sized and 10 large sized trawlers to operate between
12 to 35 nautical miles (NM) of the Exclusive Economic Zone (EEZ).
However, so far 15 medium sized vessels, each having
a capacity between 100 and 250 GRT (gross registered tonnage), were
issued licences to operate for deep-sea fishing in zone II of the EEZ,
while no owner of large sized trawler with 300 to 500 GRT has so far
approached for getting licence.
Most of these trawlers are of Chinese and Korean
origin. In total, 27 trips have been made by ten vessels from July 2002,
and unloaded a fish catch of around 1,334 tons. Therefore, average fish
catch of each trawler came to around 55 ton.
Out of the remaining five vessels two are under
licensing and documentation process, while three made single trip
bringing in a total catch of around 122 ton.
At present an average price of fish in the world
market stands at around $1,000 per ton, which means fish catch worth
$1.456 million has been exported during the last four months.
OIL, GAS DISCOVERED IN SINDH
The Oil and Gas Development Company Limited (OGDCL)
has succeeded in discovering considerable oil & gas from its
exploratory Norai Jagir well No 1 in Sindh.
According to an announcement, the company has struck
fifth consecutive discovery in a row in the Southern Indus Basin and
sixth major discovery over last one year, each from distinctly different
Norai Jagir structure was delineated in Nim
Exploration license area, drilled and tested by OGDCL's inhouse
expertise. Significant reserves of hydrocarbons have been found at Norai
Jagir which is located at a distance of 26km south-east of Hyderabad.
During the initial testing, the well has flowed 410
bp (barrels) of condensate per day and about 10 MMCFD of gas through
32"/64" choke. The Well Head Pressure was recorded as 2100 PSI.
SUGAR OUTPUT RISES BY 7.85PC
Pakistan Sugar Mills Association (PSMA) said that the
production of sugar in the country over the year has gone up by 7.85 per
cent, while 83.50 per cent of the commodity has been lifted from the
mills by October 15.
The total production of the sugar this year was
3,249,029 tons compared to 3,012,390 tons produced last year. Out of
this, 2,722,541 tons were lifted from the mills, leaving 526,488 tons in
The production in 38 sugar mills of Punjab during the
said period was 2,158,053 tons out of which 1,868,520 tons were lifted
(88.66 per cent), leaving 287,532 tons in stock.
The six sugar mills of NWFP produced 135,689 tons of
sugar out of which 122,545 tons were lifted (90.33 per cent), leaving
behind 13,124 tons in stock.
Out of 32 total sugar mills in Sindh, 27 operative
mills have produced a total of 957,306 tons of sugar out of which
731,476 tons have been lifted (76.41 per cent), leaving behind 225,832
tons in stock.
SMEDA UNDERTAKES GINNING INDUSTRY UPGRADATION
Small and Medium Enterprise Development Authority (Smeda)
with the assistance of French expert has undertaken the task of
upgradation of ginning industry. And it is expected that around $500
million would be earned after producing better quality and clean cotton
on the modification of ginning industry.
This was stated by chief executive officer of Smeda,
Iqbal Mustafa at a press conference at Smeda's head office.
Sindh Engineering Limited (SEL) has signed a
franchise and technical cooperation agreement with Dong Feng Motors
Company (DFMC) of China to roll out Chinese 1.5, 3.5 and 15 tons
capacity vehicles, fitted with Cummins engines, from July 2003 at
This was stated by chairman Pakistan Automobile
Corporation Limited (PACO), Azhar I. Jaffery at a press conference at
the SEL's head office at West Wharf.
PRESIDENT APPROVES SEVERAL GAS PROJECTS
President General Pervez Musharraf asked for
increasing gas production to meet the rising demand and focusing on
country's huge coal reserves for future gasification.
He gave this directive during a briefing on natural
gas resources, supply and demand, exploration activities and options to
import gas by the Ministry of Petroleum and Natural Resources.
ADB OKAYS $150 MILLION PROJECT
The Asian Development Bank (ADB) has okayed a project
of $150 million for the development of roads in Punjab.
The amount would be used for the upgradation and
rehabilitation of provincial highways and road networks, says an ADB
press release. The project was estimated to be completed by June 30,
The plan would help alleviate poverty by enabling the
poor to benefit from the economic opportunities and enhancing their
access to social services and stimulating economic growth.
The scheme would also help save vehicles' operation
costs and passenger time.
The economic rates of returns for the rehabilitation
of the highways were estimated to be in the range of 14 to 31 per cent
while 12 per cent for the rehabilitation of rural roads, the press