AJKCCI chalks out industrial

uplift plan

MIRPUR (APP): An integrated phased industrial uplift plan is being chalked by the AJK Chamber of Commerce & industry (AJKCCI) with the coordination of the AJK government to encourage and promote local and foreign investment in the trade and industrial sector. Newly-elected (AJKCCI) President, Ch. Javed Iqbal told APP here on Saturday that his chamber has already forwarded recommendations to the AJK government by devising a strategy for early revival of over 70 sick industrial units located in Mirpur and Bhimbher districts, to promote the industrialization process in both the districts as well as in other parts of the liberated territory.

He said that in the light of various proposals the AJK government has assured to encourage and boost the foreign investment in the trade and industrial sector in AJK and colossal funds have already been placed in the ongoing financial year 2014-15 AJK budget.

Iqbal said that the AJKCCI has also moved to the AJK government to provide all possible required facilities and compensation to the intending foreign entrepreneurs including the UK-based Kashmiri expatriates for establishing the industrial concerns in the area.

The AJKCCI President said  that massive and bright potential was available for launching investments in hydel power generation, mineral and tourism sector in AJK.

Cultivation of soybean by end

of Feb recommended

MULTAN (APP): The Agriculture department directed farmers to ensure cultivation of soybean by end of February to achieve bumper crop. According to Assistant Director Information Naveed Asmat Kohlun, “Soyabin” was used in nearly 200 different food items including oil, ghee, dried milk, butter and different items of bakery. He advised them to cultivate nearly 40 to 45 kilogram of seed in an acre. He also suggested cultivation of recommended varieties NARC-1,NARC-2, FS95, Walliams 82, and Fasial soyabin. Naveed Asmat said “Soyabin” could also be cultivated in gardens. He added that farmers could contact the department for more guidance in this connection.

Steps being taken to reduce

loadshedding: Minister

ISLAMABAD (NNI): Minister for Water and Power, Khawaja Muhammad Asif has said Pak-China Economic Corridor would bring progress and prosperity in Pakistan. Talking to a private news channel, he said Central Asian States and other countries would have access to warm waters for increasing business activity in this area. The Minister said transmission lines and railway sector are being improved so that industrial zones could be established in a proper manner. To a question, he said Pak-China economic corridor will connect the roads of Balochistan, Sindh, Khyber-Pakhtunkhwa and Punjab. He said steps are being taken to minimize the loadshedding.

Macroeconomic indicators of

economy on positive trajectory

ISLAMABAD (APP): Minister of State for Privatization Muhammad Zubair Saturday said that the macroeconomic indicators of Pakistan’s economy were on positive trajectory due to the economic reforms agenda of the government. He was addressing a dinner reception hosted by Pakistan’s High Commissioner to UK Syed Ibne Abbas, said a press release received here. He said that the government was committed to providing enabling environment to the business community and was determined to eliminating terrorism and extremism from the country. The minister also invited overseas Pakistanis to make the most of lucrative investment opportunities offered by Pakistan.

In his remarks, the High Commissioner welcomed the minister, KSE office bearers and the business delegation. He appreciated their efforts to promote investment in the capital market of Pakistan. He said that London was the hub of financial services and international trading and such visits could create critical awareness about investment potential of Pakistan in the UK. He said Pakistan High Commission would be happy to liaise with KSE and private sector in future to promote economic and trade interests of Pakistan.

Minister Muhammad Zubair thanked the High Commissioner for his hospitality and affording the delegates an excellent business networking opportunity.

The reception was also attended by Zamir Choudhry, Arif Hahbib, Abid Habib, Yasin Lakhani, Munir Kamal Chairman KSE, Nadeem Naqvi MD of KSE and others. Representatives of the FCO and the Lord Mayor of the City of London were also in attendance.

The minister and the business delegation are on an official visit to the UK where they have successfully held Investment Conferences in Manchester, Birmingham and London. The objective of the visit is to reach out to the Pakistani diaspora and to create awareness about the investment potential in Pakistan’s capital markets and other opportunities available in Pakistan.

PBIT participates in energy forum

LAHORE (Handout): Punjab Board of Investment and Trade (PBIT) participated in the “Pakistan Energy Forum 2015” in Islamabad. It was a 7th consecutive annual assembly of energy sector stakeholders particularly from the areas of oil &gas, renewable, power and investments. The theme of the conference was “streamlining energy priorities for development and economic growth”. Lubna Pathan, Director General, PBIT, being one of the guest speakers delivered a comprehensive presentation on the topic of “When and how we are going to leverage from investment opportunities in energy sector”. She highlighted Pakistan’s investment requirements in the power sector.

 which is estimated to be $8.8 billion, in comparison with the global investment requirements ($40 trillion) in the same sector.

She explained the building blocks of power sector development, ways of channelizing investment in power sector and public/private financing mechanisms. She stressed on the need to stop inefficient power transmission and distribution as country loses 25-30% of energy because of the poor infrastructure, mismanagement and theft. She also said that lack of standardization of project agreement leads to project delay so there is a dire need to improve the logistics, infrastructure, technology and regulatory framework.

      The key objectsives of the event were to dialogue and provide a practical road map for Pakistan to achieve self sufficiency in the energy sector for a long term sustainable economy in order to attract foreign direct investment and international companies that can work across industries and stakeholders to overcome the looming energy crisis in the country in order  to recommend future planning in exploration & production sector that can mitigate widespread energy shortages in the country and also   determine the best available proven physical assets and renewable resources that can provide alternate options in the energy sector.