Self-managing energy system

  

ISLAMABAD (APP): A Self-Managing Energy System (SES), capable of conserving energy usage in building has been developed to make consumers aware of their energy usage patterns.    The buildings such as houses, offices and other structures are the biggest consumers of energy and as per statistics, out of all consumers of energy in most developed countries 37 per cent of energy is consumed by buildings. This is ahead of energy consumption in industrial sector which consumes 28 per cent and transportation sector which consumes 32 per cent. Project is funded by National ICT Research and Development Fund, Ministry of Information Technology (MoIT) and executed by Lahore University of Management Sciences (LUMS).

 Lahore is also aimed at using a very simple user interface to allow the consumers to state goals, priorities, and constraints on energy usage in a typical building to automatically plan the energy usage through controlling devices. The cost of the project was Rs. 12.95 million.

   Official sources on Tuesday said the other benefits of the SES are to developing a localized low cost Home Area Network (HAN) implementation for controlling heavy duty electric appliances for energy conservation. It is also able to seamlessly integrate alternate sources of energy such as solar energy in the overall energy systems of buildings.

   The sources said energy conservation has been cited as the ‘most important fuel’ in energy generation and added in view of this proposal SES has been developed.

   They said the conservation does not mean load-shedding as well as any other optimization method that in any way interferes with the normal day to day life of the building occupants. Therefore, in the proposal it was hypothesized that in order to conserve energy, the supply and usage in buildings must be treated as a self-managing system.

   The self-managing energy system (SES) in buildings is able to get goals, priorities and constraints from the consumers.

   The sources said using information on the energy supply and demand at grid-level, the SES optimizes energy usage. If alternate sources of energy such as solar cells, wind energy or PHEV (Plug-in Hybrid Electric Vehicles) are available then SES is able to incorporate it seamlessly into the system.

   To control heavy electric devices such as air conditioners the SES uses a Home Area Network (HAN) to communicate with the devices and set their usage appropriately.

FBR organises workshop

KARACHI (Staff Reporter):The Federal Board of Revenue (FBR) organised an exclusive workshop for training employees of the Overseas Investors Chamber of Commerce and Industry, (OICCI) member companies on Monday to explain the salient features of the newly launched “Declaration Module” for filing of Income Tax returns 2014-15.  The workshop was conducted by Raana Ahmed Member Information Technology, FBR along with FBR Member Facilitation Ms Riffat Shaheen Qazi and Rehmatullah Wazeer, DG Broadening Tax Base, FBR. Workshop highlighted salient features of the new online tax income tax return forms including the forms relating to statement of wealth, annual expenses and wealth and income reconciliation.

Many new features being added from this year and few user friendly initiatives in the new forms were fully explained to an audience of salaried class professionals from various corporate sectors and tax consulting firms.

FBR team highlighted the benefits accruing to tax return filers vs non-filers from the current fiscal year. It was also emphasized that paying full tax on salary, dividend and interest and other income does not absolve a person from filing a tax return which is mandatory requirement for all NTN holders.

M Abdul Aleem, Secretary General, OICCI thanked FBR for the initiative to simplify tax reporting requirements and urged the authorities to closely work with the private sector to further simplify reporting requirements, facilitate prompt settlement of issues of the business community whether it is pending tax refunds or any procedural issues so that Pakistan is able to regain its lost position on the World Bank’s Ease of Doing Business rating and seen as a attractive destination for FDI.

Trade seminar in Japan

TOKYO (INP): Embassy of Pakistan organised a “Pakistan Trade Seminar” in collaboration with Saitama Industrial Development Corporation (SIDC), Federation of Saitama Chamber of Commerce & Industry (FSCCI), JETRO and METI in  Saitama. This was the first of series of Trade Seminars being organised in the important cities of Japan as a “New Initiative” by the Ambassador of Pakistan, to look for possibility of developing linkages between Pakistani business community living in Japan and the Japanese businessmen. Hidejiro Akiyama Chairman SIDC  thanked the Ambassador for selecting Saitama as the first destination having maximum concentration of Pakistanis among the whole country.

He informed that SIDC is aiming development of next generation industries, development of life-support industry and support of SME’s overseas expansion and hence Pakistan to them was an active country for developing new relationships. He shared his optimism that this seminar would have important significance for all the participants.

Farukh Amil, Ambassador of Pakistan shared with the audience “The New Initiative” of Pakistani and Japanese business community joining hands for enhancing bilateral trade and investment,  as a modest beginning towards giving some kind of exploratory framework a positive direction. In his presentation he highlighted the history of Pakistan-Japan’s friendship, socio-cultural bond, the strong business relations and the focused priorities of the new Government on business.  He said Pakistan offered immense opportunities for business and investment.  Although there were many areas where investment could be made but he specifically stressed the energy and infrastructure sectors because of the fast developing N-11 economy, Pakistan required more regional connectivity and electricity for its emerging industrial and commercial needs.  In this context the Ambassador highlighted the Government’s top priority for the energy sector.

Oil prices mixed after Brent drop

LONDON (AFP): The oil market diverged on Tuesday as traders paused for breath, one day after Brent crude hit a 16-month low under $100 on the back of ample supplies. Brent North Sea crude for October dropped 14 cents to $100.06 per barrel nearing midday deals. The contract had plunged on Monday under the psychological barrier of $100 to strike an intra-day low of $99.36 — a level last seen on May 1, 2013. US benchmark West Texas Intermediate (WTI) for October delivery rose 79 cents to $93.45 a barrel. “Brent is continuing on the downward trajectory that it has followed since mid-June despite the geopolitical unrest — after all, so far these risks have had little impact on the short-term supply situation,” said Commerzbank analysts in a note.

“Indeed, the once again fragile ceasefire appears to be giving rise for the first time in months to some sense of calm in the conflict in Ukraine.

“The Iraqi parliament has confirmed the new government of Prime Minister al-Abadi, which should go some way to easing the situation there.

“In Libya too, production is recovering quickly despite ongoing fighting,” they added.

Crude futures had also fallen sharply on Monday on concerns over fragile energy demand — following weak Chinese and Japanese data — and on the back of the strengthening dollar.

Imports by China showed a surprising drop of 2.4 percent, while Japan said its economy shrank 1.8 percent on-quarter in April-June, worse than the previously estimated contraction of 1.7 percent.

The dollar has meanwhile climbed sharply following disappointing US non-farm payrolls data on Friday.

The yen also hit a six-year dollar low on Tuesday following weak Japanese growth figures and anaemic Chinese trade statistics.

“The strong dollar currently weighs heavily on market sentiment,” added Sucden analyst Myrto Sokou.

The rebounding greenback makes dollar-denominated commodities more expensive for buyers using weaker currencies. That tends to weigh on demand and prices.

Sokou added that the key $100-per-barrel level was a “crucial” level for the 12-nation Organization for Petroleum Exporting Countries (OPEC).

“The psychological level of $100 per barrels is considered to be a crucial point for the oil market,” she said.

“If crude prices continue their sharp downtrend in the coming trading sessions, we could expect an imminent response/action from OPEC members regarding the current oil production levels.”

OPEC, which holds its next scheduled production meeting in Vienna on November 27, accounts for about one third of global oil production.

PBC gets new chief

KARACHI (APP): A founding director of Pakistan Business Council (PBC) Bashir Ali Muhammad has taken over as new chairman of the PBC. He was previously vice chairman of Pakistan Business Council (PBC) and replaced Sikander Mustafa Khan on completion of the latter’s term, said a release here on Tuesday. The PBC board appreciated the services of the out-going chairman Sikander Mustafa Khan in projecting the PBC’s policies and stance at various forums. The new PBC chairman also acknowledged that Sikander Mustafa Khan has contributed a lot in strengthening the PBC and expressed his desire that the PBC would continue to benefit from  Khan’s knowledge and experience.

Bashir Ali Mohammad, who is the Chairman of Gul Ahmed Group,also serves as a director on the boards of Gul Ahmed Energy Ltd.,Habib Metropolitan Bank Ltd.

He is a member of economic advisory council of the Ministry of Finance and also served as the President of the International Textile Manufacturers Federation.

Previously, he has served as Chairman, All Pakistan Textile Mills Association (APTMA) besides having been part of a number of government committees for improving Pakistan’s global trade competitiveness.