PM lauds successful auction of 3G/4G spectrums islamabad (Staff Reporter): Prime Minister Muhammad Nawaz Sharif has said that successful auction of 3G and 4G spectrums have opened up new world of exploration and achievement. This, much delayed, initiative has brought Pakistan to the cutting edge of technology upon which our nation will achieve new frontiers of advancement, said the Prime Minister, adding; “My most earnest congratulation to the people who have made this possible.” Prime Minister further said that the team led by Finance Minister Ishaq Dar and Minister of IT Anusha Rehman made this possible in a transparent and most competitive manner. Not only will the adoption of this technology improve service delivery in every area but will open up new opportunities for employment business and income generation, said the Prime Minister.Prime Minister commended Pakistan Telecommunication Authority (PTA) officials for successful execution of the auction.
Wapda chairman visits Bhasha Dam, meets GB Chief Secretary Lahore (Staff Reporter): The Pakistan Water and Power Development Authority (Wapda) Chairman Zafar Mahmood has visited Diamer Bhasha Dam site to have first-hand knowledge about the project and witness the progress on the preparatory works that are underway there. Speaking on the occasion, the chairman said that Diamer Bhasha Dam was of immense importance because of its water storage capacity, generation of much-needed low-cost hydel electricity and flood mitigation. He said initiation of construction work on the main dam in the shortest possible time was one of his priorities in view of the project’s strategic importance for economy, especially food and energy security of the country.During his visit, the chairman had a detailed round of the dam site, under construction model village for affectees at Harpin Das, Wapda colony at Thor Valley and Shatial Bypass. The project authorities apprised Chairman Wapda about salient features of Diamer Bhasha Dam. They told that the project will have a gross storage capacity of 8.1 million acre feet of water and power generation capacity of 4500 MW. He was further informed that more than 18 billion units of low-cost hydel electricity will be provided to the national grid per annum by Diamer Bhasha Dam. They said that in addition to this, the construction of Diamer Bhasha Dam will increase the generation capacity of Dasu Hydropower Project by about 5 billion units, a project to be constructed downstream, while additional hydel electricity of 2 billion units will also be produced from the existing Tarbela, Ghazi Barotha and Chashma Hydel Power Stations due to regulated water flows from Diamer Bhasha Dam. Besides, the project will extend the life of Tarbela reservoir by 35 years. It was further briefed that construction of Wapda offices and colony, contractor’s camp and allied infrastructure in the project area is being carried out through 12 different contracts. The Chairman was informed that Shatial Bypass is being constructed at higher altitude to facilitate initiation of construction work on the main dam. The Chairman directed the project authorities to accelerate the pace of construction work and ensure its completion without any further loss of time. Earlier, Wapda Chairman had a detailed meeting with GB Chief Secretary at Chillas and discussed the matters relating to Diamer Bhasha Dam Project. The meeting reviewed, at length, the process of land acquisition for Diamer Bhasha Dam, progress on implementation of resettlement and social action plan and ongoing preparatory works in the project area. The Chairman emphasised that the process of land acquisition for the project should be accelerated by the GB Government. The Chief Secretary assured the Chairman Wapda of the GB Government’s full cooperation in all matters pertaining to Diamer Bhasha Dam Project including land acquisition.The chairman Wapda also met with the dam affectees and assured them of taking their justifiable demands into account. In addition to visiting Diamer Bhasha Dam, the Chairman during his two-day round of Wapda projects, also visited various existing as well as up-coming projects. These projects include the 121 MW-Allai Khwar, the 72 MW-Khan Khwar, the 130 MW-Duber Khwar, the 122 MW-Keyal Khwar, the 2000-MW Pattan and the 4320 MW-Dasu hydropower projects.
11th My Karachi expo in JuneKarachi (Staff Reporter): Chairman Businessmen Group and former President of the KCCI, Siraj Kassam Teli has said that KCCI’s 11th My Karachi Oasis of Harmony exhibition will be organised with same zeal and enthusiasm from 20th to 22nd June, 2014. The event will be inaugurated by the President of Pakistan, Mamnoon Hussain. Speaking at a press conference at KCCI , Siraj Teli added that the prime objective of holding this exhibition is to project the true and soft image of Karachi in particular and Pakistan in general. BMG Chairman Siraj Kassam Teli said that this year’s exhibition will give a perfect platform for business-to-business, Business-to-consumer meetings., besides providing recreational facilities to Karachiites who densely participate in this glittering event every year.Earlier, President KCCI Abdullah Zaki highlighted the basic theme of My Karachi Exhibition which is to promote the positive and soft image of Karachi by inviting maximum number of foreign delegates and exhibitors at this mega event.He also urged the media to support this event in order to help KCCI in its mission to promote Karachi as peaceful and business friendly city.Vice Chairman BMG, Zubair Motiwala, Senior Vice President KCCI, Muffasar A. Malik, Vice President KCCI, Muhammad Idrees and Managing Committee members were also present on the occasion.
Forex reserves stand at $11.75b: SBPKARACHI (APP): The total liquid foreign reserves held by the country stod at $11,753.8 million on April 18, said a press release issued by State Bank of Pakistan (SBP) here on Thursday. The break-up of the foreign reserves position was as under. (i) Foreign reserves held by the SBP: $ 7,010.0 million, (ii) Net foreign reserves held by banks $ 4,743.8 million, (iii) Total liquid foreign reserves $ 11,753.8 million During the week ending April 18, SBP’s liquid FX reserves increased by $2,026 million to $7,010 million compared to $4,984 million in the previous week. The increase in the central bank reserves is attributed to receipts of $2 billion from issuance of Sovereign Bonds in International Capital Market and $139 million from Islamic Development Bank.On account of external debt servicing and other official payments, SBP has made payments of $96 million from its reserves during the week under review.
Conference on e-banking heldKARACHI (Staff Reporter): Pakistan will be the sixth country in the world which will be launching Direct Debit Service (DDS) in electronic-banking domain, said Faisal Ejaz Khan, Chief Executive Officer of 1Link Guarantee Limited. He was speaking at the one-day conference on E-Banking. Conference and exhibition was arranged by Total Communications in collaboration with Pakistan Software Export Board (PSEB) and support of Pakistan Software Houses Association (P@SHA) and 1Link. Amir Malik, Managing Director PSEB and member IT Ministry, said that IT firms, mobile companies and third party solution providers in IT field were doing tremendous job here. Also, telephone and mobile companies were playing a pivotal role in increasing use of e-banking in the country, he said.Ricardo Marques, senior management executive Wincor Nixdorf, said that IT firms and banks should be available to customers round the clock.