Railways overhauls 12 Chinese locomotives

ISLAMABAD, Apr 3 (APP): Pakistan Railways with the help of Chinese engineers has rectified 12 Chinese locomotives, which had developed cracks in its underframes. "These locomotives are running properly with satisfactory results, while their performance is still under observation," official sources in the Ministry of Railways told APP. Pakistan, they said, had received a fleet of 29 locomotives of 2,000 horse power, out of which 16 had developed the fault, but the Chinese company had been asked to examine all the engines as per the warranty. "Chinese engineers are available with the Pakistan Railways and removing the fault in the locomotives," the sources added.

It is pertinent to mention here that Chinese firm had accepted the responsibility and said that they would replace underframes of all the locomotives.

SCCI demands special

package of incentives

SIALKOT (APP): President SCCI Mansoor Ahmed said on Sunday that there was a great need of establishing organized mini industrial areas in this export-oriented city for extending the radius of industrial sector of the area. The setting mini estates would help further accelerating the pace of productivity and to accommodating manufacturers and vendors, he said In an interview with APP, he said that mini industrial areas should be developed on the outskirts of Sialkot for providing employment opportunities to industrial workers to their doorstep. The SCCI President further said that vending industry was an integral part of export industry which should be accommodated in the proposed mini estates for ensuring all facilities under one roof.

He pointed out that there was only one small industrial estate in Sialkot and there was clear industrial need for well-planned mini industrial estates with necessary infrastructure, adding that setting up mini estates were important to cater to the need of small, medium and micro level industry of the area.

He said the SCCI had focused special attention for the promotion of SME sector, aimed at enabling it to play its an instrumental role in boosting up export volume. "We are holding series of training workshops for the new exporters for creating awareness how to do business", he said.

Mansoor said, "We are focusing on reducing the production cost by obtaining modern technology and in this regard we are pursuing for setting up more common facility centres with the active support of Commerce Ministry and Trade Development Authority of Pakistan (TDAP) to facilitate the SMEs of the area".

The business community of this export-oriented city and hub of cottage industry, was confronting serious problems due to shortageof skilled workforce and there was immediate need of training centres for producing skilled labour in accordance with the local industry's requirements, he said.

Mansoor suggested that industrial machinery should be made tax free enabling the business community to modernize its workplaces to cope with modern industrial challenges easily. The SCCI President further stated that business community of Sialkot was playing a pivotal role not only in strengthening the national exchequer but also in providing employment opportunities to thousands workers.

4th Made-in-Pakistan Exhibition in Kabul from May 5

RAWALPINDI (APP): The fourth Made-in-Pakistan Trade Exhibition will commence at Kabul’s Intercontinental Hotel from May 5, under the auspices of Rawalpindi Chamber of Commerce and Industry (RCCI), said Chairman, Regional Trade Coordination Committee Khurshid Barlas on Sunday. Barlas, in a statement here, said it would be an industrial B2B exhibition, where Pakistani companies would get a chance to showcase their products and meet the industrial buyers from Afghanistan. “The companies from industrial and services sectors were participating in the event,” he said, adding, “The interested companies could contact the chamber by April 10.”

Ministry proposes Rs255 million

uplift schemes

ISLAMABAD(APP): The Ministry of Human Rights has proposed five new schemes under the PSDP for next Fiscal Year (FY) 2016-17 with a total allocation of Rs 255 million. The new schemes include `Establishment of National Institute of Human Rights at Islamabad' with the total cost of Rs 250 while the proposed allocation for FY 2016-17 will be Rs 150 million, official sources said. The second project is `Implementation of Action Plan on Human Rights in Pakistan' with the total allocation of Rs. 50 million and for next fiscal budget is the demanded amount is Rs. 25 million. The other project is `Establishment of Human Rights Management Information System' with a total cost of Rs. 50 million with an amount of Rs. 15 million for next PSDP.

The other project is `Construction/Purchase of land for National Child Protection Complex Islamabad', with a total allocation of Rs. 150 million including Rs43 million for the next financial year. The last project is `Establishment of two psycho Social Support/Child Protection Centres, Islamabad' with a total allocation of Rs. 59.397 million urging Rs. 22 million for the next fiscal year.

The ministry has also proposed two ongoing schemes worth Rs. 120 million for the budgetary allocation of next fiscal year. The ongoing schemes included `Establishment of Helpline for Legal Advice on Human Rights Islamabad' with a total allocation of Rs. 37.603 million, urging an amount of Rs. 20 million for the fiscal year 2016-17.

The other project is `Construction of working women hostel at G-6/2 and G-7/3 Islamabad' with a total amount of Rs. 273 million while the demanded allocation for the next PSDP is Rs. 100 million.

Iran oil exports surpass 2m

barrels per day: minister

Tehran (AFP): Iran's oil exports have surpassed two million barrels per day following the lifting of sanctions under its nuclear deal with world powers, Oil Minister Bijan Zanganeh said on Sunday. "Iran's oil and gas condensate exports are now at more than 2 million barrels per day" after rising by 250,000 bpd since March 1, the ministry's Shana news service quoted Zanganeh as saying. Iran has doubled exports since its nuclear accord took effect on January 16. Iran, an OPEC member, has the world's fourth-largest oil reserves but its exports were long hampered by sanctions over its nuclear programme. It has moved ahead with an increase in exports despite global concerns over a supply glut that has pushed oil prices below $40 a barrel.

, from more than $100 a barrel in mid-2014.

Top exporter Saudi Arabia has said it is willing to consider an output freeze to help shore up prices.

But in an interview published Friday, Saudi deputy crown prince Mohammed bin Salman reiterated Riyadh's position that other major producers, including Iran, would need to do the same.

His remarks drove down oil prices, with US benchmark West Texas Intermediate for delivery in May sliding $1.55 (4.0 percent) to $36.79 a barrel on the New York Mercantile Exchange.

Major oil producers led by Russia and Saudi Arabia are to meet in Doha on April 17 to discuss measures to stabilise prices, including a proposal not to pump out oil above a certain level.

But Tehran rejects any output freeze -- first mooted by Qatar, Russia, Saudi Arabia and Venezuela in February -- until it regains its pre-sanctions market share.

Zanganeh described the proposal in late February as a "very funny joke", as production levels vary widely among oil producers.

Under more than a decade of sanctions, Iran witnessed crucial global ties cut from its economy, including its lifeblood oil markets.

In January 2012, under hardliner Mahmoud Ahmadinejad's presidency, the European Union stopped buying oil from Iran and global banking networks blocked the Islamic republic from the SWIFT system.

Hope only returned after president Hassan Rouhani's election in 2013 that culminated in ending the nuclear standoff after two years of negotiations.

Since the nuclear deal's implementation, Tehran has resumed exporting to the European market.

But Asian countries China, India, Japan and South Korea remain the main customers of Iranian oil.