Tehran—Iran said on Sunday that three belated
gas projects in its giant South Pars field will
go on stream from July. The state-run Pars Oil
and Gas Company (POGC) also said that South Pars
phases six to eight, after a nearly two-year
delay, was expected to be fully operational by
the end of the current Iranian year (March 19,
2009). “The first stage of the three phases will
start production with 400 million cubic feet
(11.32 million cubic metres) of gas per day in
the (Iranian) month of Tir this year,” project
manager Mohammad Javad Shams told reporters.
Karachi—France has decided to set French
Development Agency (FDA) in Pakistan to boost
existing strong bilateral economic and trade
relations between the two countries mainly in
energy, education and health sectors and to help
in infrastructure development. This was stated
by the French Ambassador to Pakistan Regis de
Belenet while speaking at a meeting of the
English Speaking Union of Pakistan at a hotel
here on Saturday.
Karachi—Speakers at a pre-budget seminar have
underlined that restoration of law & order,
burgeoning trade deficit and high inflation are
major challenges for the new government. The
seminar was organised by the Institute of Cost
and Management Accountants of Pakistan (ICMAP)
here. Addressing the first session of the
seminar, Director General Regional Tax Office
Karachi, Asrar Rauf gave details of the reform
process in the Central Board of Revenue (CBR),
now replaced by the Federal Board of Revenue (FBR).
He said that the CBR had planed to enhance the
tax-to-GDP ratio by 16, 17 and 20 per cent
respectively and total revenue might cross the
one trillion rupee mark this year.
Karachi—Federal
Commerce Minister Shahid Khaqan Abbasi said here
that the government would initiate free trade
agreements (FTAs) with various countries.
Foreign investors would also be invited to set
up industries for boosting economic activities
so that the country could be put to the road of
progress, the minister said while speaking at
the South-Asian Tax Summit 2008. The minister
said that the country was facing many problems,
including power shortage and fiscal and trade
deficits.
Islamabad—Efforts are under way to find an
alternative airline to provide direct flights
between Leeds Bradford Airport and Pakistan. The
move follows the suspension of the
three-times-a-week service to Islamabad by
Shaheen Air International due to the
unavailability of aircraft, CNBC reported.
