Newsbrief

2018-09-12T05:46:01+05:00

Shale oil, gas pilot project in limbo for four years

ISLAMABAD (APP): Despite the fact that the country is passing through severe energy crisis, the previous government could not launch the pilot project to assess the cost of already discovered world’s 9th largest shale gas and oil reserves in the country. Soon after the discovery, the Ministry of Petroleum and Natural Resources had assigned the task to two state-owned companies to launch a pilot project, but no significant headway has been made in this regard. A study completed in cooperation with the USAID had confirmed presence of 10,159 trillion cubic feet (TCF) Shale gas and 2,323 billion of stock tank barrels (BSTB) Shale oil. The study covered lower and middle Indus Basin which geographically spread over Sindh, southern parts of Punjab and eastern parts of Balochistan. Total area under the study was 271,700 kilometres, which is 33 percent of total sedimentary area of the country. Pakistan has world's 9th largest shale gas and oil reserves which are far greater than the total resources available in Central Asian states.

The project was delayed due to technical reasons. At present, there is no significant development on the project, sources aware of the project updates told APP.

The sources termed the deposits a 'game-changer' and future source for abundant petroleum products in the country.

They expressed the hope that the new government would speed up work on the project keeping in view the energy crisis.

Construction of dams vital for country’s future: Experts

ISLAMABAD (APP): Energy expert Dr Gulfaraz Ahmed has said that construction of news dams on immediate basis is need of the hour. Talking to Radio Pakistan, he said Diamer Bhasha and Mohmand Dam could be great source of energy as it has power generation potential of over 5300 MW. He said Prime Minister Imran Khan has started a great initiative and appealed the nation including overseas Pakistanis to donate in this regard. Former MD, PEPCO Tahir Basharat Cheema also said that the per capita water availability is dwindling with every passing day as per capita water availability has decreased from 5260 m3 in 1951 to 1050 m3 by the year 2010. He said that it is unprecedented that any PM in Pakistan has requested the nation to donate for the construction of dams. He said the government should also depute highly professional team in order to complete the dams within speculated time period. Pakistanis must contribute for this noble cause to muster the estimated cost of dams’ around 1500 billion rupees, he added.

PTI leader Umer Ayub also said that construction of new dams is call of the hour and essential for a vibrant economy. He said Pakistan has overgrown population of over 200 million people and the numbers are increasing rapidly that can pose great threat to underground water reservoirs.

As an agrarian society our major chunk of population is dependent on agriculture and water scarcity can cast devastating effects on this sector. Overseas Pakistanis should donate generously to overcome this serious threat, he added.

TDAP expresses commitment to promote bangle industry

HYDERABAD (APP): The Trade Development Authority Pakistan (TDAP) is fully committed to promote home based industry including bangle manufacturing and the present federal government has started preparation of effective plans to introduce the Pakistan products at the international markets. These views were expressed by the Deputy Director TADP while addressing the traders and manufacturers at a seminar on “Export potential for glass bangles” organised by Hyderabad Chamber of Small Traders and Small Industry here. He said that on the directives of the federal government, the TDAP is ready to provide opportunity for bangles manufacturers to establish stalls on easy rates in national and international expos of TDAP. He, on the occasion, also sought suggestions from President HCSTSI Muhammad Akram Ansari and representatives of different organizations of bangle manufacturers for rapid promotion of the bangle industry.

The representatives of different organisations of bangle manufacturers gave details about the problems being faced by the industry which included the shortage of labour, gas and electricity loadshedding and difficulties in getting gas connections.

The President HCSTSI Muhammad Akram Ansari also highlighted the problems being faced by the bangle industry and appealed to the federal government to take serious notice for addressing the issues so that the industry could flourish again.

Surgical goods, medical instruments exports down

ISLAMABAD (NNI): Surgical goods and medical instruments worth $28.548 million were exported during first month of current financial year as compared to exports of the corresponding month of last year. Surgical goods and medical instruments worth $30.022 million were exported in the same period last year, witnessing about 4.96 percent decrease as compared to exports of first month of fiscal year 2018-19. Meanwhile, cutlery products valuing $6.940 million were exported in month of July, 2018-19 as compared to exports of $7.415 million of same month of last year, showing negative growth of 6.41 percent. According the data of Pakistan Bureau of Statistics, chemicals and pharmaceutical products worth $80.601 million were exported as against $86.528 million of same period of last year. Meanwhile, country earned $16.397 million by exporting the pharmaceutical products, which stood at $19.621 million of same period of last year, the data added.

During the period under review, 657 metric tons of pharmaceutical products were exported as compared to 959 metric tons of same period of last year.

During first month of current financial year, country earned $43.111 million by exporting other chemicals as compared to $44.600 million of same month of last year.

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