Rs185 million for textile sector development under EDF

ISLAMABAD (APP): The government has approved Rs185 million under EDF for the development of textile sector in the country. The meeting of EDF was held here under the chairmanship of Secretary Ministry of Textile Industry which approved various development projects for promotion of textile sector and boost its exports. Later talking to APP, a senior official of Ministry of Textile Industry said in allocation of Rs 100 million has been approved for washing facilities in Karachi garments institute while Rs 75m was also approved by the EDF for land acquisition of new training institute in Sailkot and also was allocated Rs 10 million for garment training institute in Lahore. He said the production of up to 11.2m bales of cotton was expected in this crop season as compared to 10m bales produced in the same period of previous year. He said the selling price of cotton seeds was also decreased from Rs 3,200 to Rs 3,000 per 40-KG in order to encourage farmers to cultivate cotton crops on more land and enhance the cotton production in this season.

The senior official said the experts and scientists helped in providing training to more than 8,000 farmers to overcome losses of cotton crops and evolved measures against the virus which harmed the cotton crops in the past.

This year, he said farmers were likely to get good prices for the cotton crop as the increased cotton prices in international market would benefit farmers as compared to previous years when they suffered huge financial losses.

He, however, said the government had set the target of 14.1 million bales of cotton for this year which had to be revised as some of the growers in cotton producing areas opted to cultivate sugarcane crop.

 UBG vows to field best candidates in FPCCI election

LAHORE (APP): United Business Group (UBG) will field educated, dedicated and best candidates having highest degree of integrity especially youth on merit with consensus in forthcoming annual elections of Federation of Pakistan Chambers Of Commerce and Industry (FPCCI). The UBG is the largest alliance of chambers in the country enjoying over 90 per cent overwhelming majority in FPCCI, the Group Chairman Iftikhar Ali Malik expressed these views while talking to commerce reporters here on Tuesday. He said the names of new candidates for various positions in the chambers would be announced with consensus in true democratic manner. He said that young talented entrepreneurs with inherited spirit to promote trade, serve the country and help strengthen the national economy would be fully encouraged while awarding the tickets. A high-level committee comprising senior trade leaders from across the country would finalize nominees with consensus on merit.

, keeping in view their professional standing in private sector and contribution towards national development, he maintained.

Before giving final shape to the list, he mentioned, all senior local trade leaders throughout the country would also be taken into confidence. He said no body would be allowed to dent unity of alliance or sabotage transparent and democratic process of the chamber polls, adding that smooth transfer of power in democratic ways would be ensured in chamber.

He said that preliminary meetings to review chambers elections was held in Islamabad a couple of days ago followed by another here yesterday which was participated in by senior trade leaders for developing consensus in the larger interest of business community.

 Karot hydropower project to become operational by 2020

ISLAMABAD (APP): The 720MW Karot Hydropower Project, being built from Silk Road Fund initiated by Chinese President Xi Jinping, would become operational by the year 2020. The construction work on this project has already been started at Karot village of Rawalpindi district in January this year and is expected to be completed in 2020, a senior official in the Ministry of Planning, Development and Reforms said. He said, it is the first hydropower project financed by China's Silk Road Project for which land acquisition is being completed at a fast pace. After completion in 5 years, the Karot Power Company will run and maintain the project for 30 years after which it will be transferred to the Punjab government. The Project site is accessible through the road from Islamabad- Kahuta - Kotli Road approximately 29 kilometers from Kahuta village, and 65 kilometers from Islamabad. The major project features included construction of concrete gravity 91 meters high dam with a crest length of 320 meters near the village of Gohra.

 The dam's reservoir will be approximately 152 million cubic meters in volume, with a length of 27 kilometers.  However 72 homes and 58 businesses are expected to require relocation as a result of construction, while 2.8 kilometers of the Karot-Kotli road, and 8.9 kilometers of the Azad Pattan-Kahuta road will need relocation.

The power intake structure will be constructed on right bank of the river immediately upstream of Dam site and will divert the water into headrace tunnels entering into Cavern Powerhouse.

 Sialkot to have skill development centre

 SIALKOT (APP): A skill development centre will be established in the city to facilitate the local business community engaged with leather garments industry. Talking to APP here on Tuesday, newly elected PLGMEA (North Zone) chairman Muhammad Aslam Chaudhry said the the federal government had provided Rs 180 million, out of EDF for setting up Common Facility Centre, Display Centre and establishing office of the association in Sialkot and work on the project would soon be launched. Under the project, he said, special attention would be focused on up-gradation of the industry to enable it to cope with fast changing global trends of fashion and compete the world market easily. The local business community engaged with leather garments had great potentials and ability to compete with its competitors and we are making adequate efforts to exploit the potential for fetching maximum foreign exchange for the country, he said. The PLGMEA Chairman further stated the local business community was committed to enhance export to manifolds and was mobilizing their resources for the purpose.

About Sialkot Tannery Zone, he said that work on this mega project was in full swing and would be completed in near future. The Sialkot Tannery Zone project would help in shifting tanneries to the zone located in and around the city which would help reduce air, water pollution and degradation of the environment, he said. The PLGMEA Chairman thanked the government for providing grant, out of Export Development Fund (EDF) to facilitate the business community engaged with the leather industry.