AZHAR ALI KHAN
The multi-billion dollar Gas Pipeline Framework Agreement (GPFA) of Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project would be signed in Ashgabat, Turkmenistan, on September 20th (Monday).
The minister for Petroleum and Natural Resources, Syed Naveed Qamar would sign the agreement from Pakistan along with the counterpart ministers from Turkmenistan, Afghanistan and India.
TAPI gas pipeline project is being planned to bring natural gas from Turkmenistan through Afghanistan to Pakistan and India.
The ADB sponsored pre-feasibility study, conducted in 2004, indicated that the 1680 km pipeline project was economically and financially viable and estimated cost was US$ 3.3 billion (revised to US$ 7.6 billion in 2008).
The pipeline would be designed to carry 3.2 BCFD gas from Turkmenistan, delivering 0.5 BCFD to Afghanistan and 1.35 BCFD each to Pakistan and India. Pakistan would be able to produce 6000 MW electricity using 1.35 BCFD gas.
After the signing of GPFA in Ashgabad next week, the parties are planning to convene rigorous rounds of negotiations so as to finalize the Gas Sales Purchase Agreement during a proposed TAPI summit in Ashgabad. The renewed attention to this project from the present government would lead to significantly improving energy availability for Pakistan and help resolve the energy crisis.
Friday, September 17, 2010
Govt sees 1.2mn tons sugar shortfall next year
AZHAR ALI KHAN
The government has officially indicated that the ongoing sugar crisis will continue in the next fiscal year as well due to production shortfall, sources said on Friday.
"We are expecting repeat of 1.2 million tons sugar shortfall in 2010-11," said an official of the Ministry of Food, Agriculture & Livestock (MINFAL).
The ministry says that a gap of around 1.2 million tons between sugar production and its consumption during the year 2010 and 2011.
In its earlier calculation which was carried out before the floods - which has devastated crops cultivation at at least 5 million acres, the sugarcane production at 54 million tons and white refined sugar output at 3.4 million tons.
Pakistan annually consumes nearly 4 million tons of sugar, while the aggregate production stands at around 3.6 millions tons.
The government has officially indicated that the ongoing sugar crisis will continue in the next fiscal year as well due to production shortfall, sources said on Friday.
"We are expecting repeat of 1.2 million tons sugar shortfall in 2010-11," said an official of the Ministry of Food, Agriculture & Livestock (MINFAL).
The ministry says that a gap of around 1.2 million tons between sugar production and its consumption during the year 2010 and 2011.
In its earlier calculation which was carried out before the floods - which has devastated crops cultivation at at least 5 million acres, the sugarcane production at 54 million tons and white refined sugar output at 3.4 million tons.
Pakistan annually consumes nearly 4 million tons of sugar, while the aggregate production stands at around 3.6 millions tons.
Wednesday, September 15, 2010
Leverage product approved for the stock exchanges
AZHAR ALI KHAN
KARACHI
Securities and Exchange Commission of Pakistan (SECP) has approved the concept of Margin Trading System (MTS) for the stock exchanges with additional risk mitigating measures.
An official statement of the regulator said that the concept of MTS was earlier proposed by the Karachi Stock Exchange (KSE) and later reviewed by an independent committee of professionals constituted by the SECP.
The Committee submitted its report in July 2010. The Report of the Committee was approved by the Board of Directors of the three stock exchanges and the National Clearing Company in their subsequent meetings. "The recommendations of the Committee in relation to the MTS were reviewed in detail by the SECP in the commission meeting," the statement reads.
It further said the SECP approved MTS with certain amendments to further strengthen risk management and provide for measures to curtail systemic risk, in the interest of the market.
"The approval of the commission will be followed by carrying out necessary amendments to the draft Securities (Margin Financing, Securities Lending and Borrowing and Pledging) Rules, 2010 and thereafter, the same will be forwarded to the government for promulgation," the official remarked.
KARACHI
Securities and Exchange Commission of Pakistan (SECP) has approved the concept of Margin Trading System (MTS) for the stock exchanges with additional risk mitigating measures.
An official statement of the regulator said that the concept of MTS was earlier proposed by the Karachi Stock Exchange (KSE) and later reviewed by an independent committee of professionals constituted by the SECP.
The Committee submitted its report in July 2010. The Report of the Committee was approved by the Board of Directors of the three stock exchanges and the National Clearing Company in their subsequent meetings. "The recommendations of the Committee in relation to the MTS were reviewed in detail by the SECP in the commission meeting," the statement reads.
It further said the SECP approved MTS with certain amendments to further strengthen risk management and provide for measures to curtail systemic risk, in the interest of the market.
"The approval of the commission will be followed by carrying out necessary amendments to the draft Securities (Margin Financing, Securities Lending and Borrowing and Pledging) Rules, 2010 and thereafter, the same will be forwarded to the government for promulgation," the official remarked.
Tetra pack prices up by Rs4/litre
AZHAR ALI KHAN
Companies have raised tetra pack prices by Rs4 per litre, retailers said on Wednesday.
The new price of a litre tetra pack is now Rs69, which was earlier tagged at Rs65.
"Half litre tetra pack prices have increased by Rs2 a litre and now it is being sold at Rs37," they said.
The price of a quarter pack is now Rs19 after an increase of Re1 a litre.
According to the retailers, tetra pack companies have not quoted a valid reason behind recent price hike.
Companies have raised tetra pack prices by Rs4 per litre, retailers said on Wednesday.
The new price of a litre tetra pack is now Rs69, which was earlier tagged at Rs65.
"Half litre tetra pack prices have increased by Rs2 a litre and now it is being sold at Rs37," they said.
The price of a quarter pack is now Rs19 after an increase of Re1 a litre.
According to the retailers, tetra pack companies have not quoted a valid reason behind recent price hike.
Subscribe to:
Posts (Atom)