Islamabad—Ministry of Water and Power has
said that around 706 mega watt (MW) power would
be added to the national grid in the next three
month when six Rental Power Plants(RPPs) would
start functioning. According to the sources,
three rental power plants were in the final
processing stages with a total capacity of 405
MW. These plants included Sahauwal, Sialkot and
Ruba rental power projects, they added.
Karachi—Fauji Fertilizer Bin Qasim Ltd.,
Pakistan’s only maker of di-ammonium phosphate,
a type of fertilizer, reverted to a profit in
the third quarter because of higher sales. Net
income was 1.31 billion rupees ($15.7 million),
or 1.40 rupees a share, in the three months
ended Sept. 30, compared with a loss of 173.9
million rupees, or 0.19 rupee, a year earlier,
the Rawalpindi-based company said in a statement
to the Karachi Stock Exchange today. Sales
increased to 12 billion rupees from 3.4 billion
rupees.
Lahore—Federation of Pakistan Chamber of
Commerce and Industry,its all affiliated
chambers and attached associations Wednesday
expressed their complete solidarity with
Pakistan armed forces,for fighting against Uzbek
terrorists, foreign elements and local militants
in South Waziristan.
Baku—World Bank
managing director Ngozi Okonjo-Iweala urged
Azerbaijan on Wednesday to diversify its economy
away from the oil and gas sector as the
ex-Soviet republic approaches peak energy
production. “There is a peak in oil recovery and
the passing of this peak makes it necessary to
take steps to diversify the economy,”
Okonjo-Iweala told an economic forum in the
Azerbaijani capital Baku.
New York—Morgan
Stanley posted Wednesday third-quarter earnings
of 757 million dollars, swinging to profit on
improved investment banking operations after
three straight quarterly losses. The profit
amounted to 38 cents a share, well ahead of
expectations of 27 cents a shares.
