Wednesday, June 06, 2012, Rajab 15, 1433
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Business & Finance
Pak, WB sign $200m gas efficiency projectStaff Reporter Islamabad—Pakistan and the World Bank (WB) Tuesday signed a loan agreement under which the bank would provide US$200 million assistance for Natural Gas Efficiency Project to enhance over all gas supply in the country.
The financing agreement was signed by Secretary Economic Affairs Division, Dr. Waqar Masood Khan and Country Director, WB, Rachid Benmessaoud, while the project agreement was signed by WB Country director and Company Secretary, Sui Southern Gas Company Limited (SSGC), Yusuf J. Ansari.
Pakistan, Brazil to promote economic activities: AmbassadorStaff Reporter Islamabad—Pakistan and Brazil will sign a number of agreements and memorandum of understandings to promote trade and economic activities and strengthen bilateral ties during the forthcoming visit of Prime Minister Syed Yusuf Raza Gilani to Rio de Janeiro in second week of June.
Talking to media here, Brazilian Ambassador to Pakistan Alfredo Leoni said, although Prime Minister Gilani will visit Brazil to attend the United Nations Sustainable Development Conference but there will be bilateral talks between Pakistani and Brazilian leadership during this visit.
USF supporting Balochistan through ICT related services: AshrafStaff Reporter Islamabad—Raja Pervaiz Asharaf, Federal Minister for Information Technology in a statement said that USF has recently awarded projects for providing basic telephony and data services in Mastung Lot (Balochistan) and broadband services in Southern Telecom Region-V (Sindh). He further said that through the Rural Telecom Project in Mastung, basic telephony and data services will be provided to a population of 74,831 people which resides in 102 unserved muzas of Balochistan. This Lot consists of Mastung, Nushki and Ziarat Districts. He praised the USF team for following Public Procurement Regulatory Authority (PPRA) rules throughout the bidding process.
Euro-II to control transport emission but at higher costAmanullah Khan Karachi—As Pakistan moves toward Euro II regime, consumer will have to bear the additional cost for compliance with the Euro II emissions for Fuel, transportation and the motorists in general.
A major source of air pollution, namely emissions from road traffic, can be reduced through enforcement of control standards. A standardized evaluation scale was set up by the European Union back in 1992. These standards are generally known as the European Emission Standards (or Euro Standards). They provide limits for exhaust emissions of all new vehicles. The limits are set at various degrees for various types of vehicles.
Conergy partners with Ensunt for largest park in countryStaff Reporter Islamabad—Conergy has joined forces with energy solutions provider and project developer Ensunt to realize a 50 megawatt solar power plant for the DACC Power Generation Company Limited (DPGCL).
The project will be the largest solar power plant in Pakistan and one of the landmark projects in the entire Middle East and Indian region. The project in Bahawalpur, situated in the Cholistan region, is owned by DPGCL and the Pakistani Government, which have now taken on Conergy to provide the overall planning, engineering and design of the solar park.
Cash dividend: SECP facilitates shareholdersStaff Reporter Islamabad—In order to facilitate the shareholders of the companies and to encourage payment of dividend through direct credit in the shareholders’ bank accounts, the SECP has introduced certain amendments to the existing Form of the “Transfer Deed”.
It has been observed that shareholders of companies are facing various problems with respect to receipt of cash dividend through dividend warrants. These problems include misplacement of dividend warrants, delay in encashment of dividend warrants, fraudulent encashment of dividend warrants, delays/loss of dividend warrants in postal service etc.
Yaseen blames failed corporate governance for global crisisM M Alam Karachi—Governor State Bank of Pakistan Yaseen Anwar has opined that the recent financial crisis that had shattered major global financial markets appeared to be the result of failures in corporate governance practices. He was speaking after inaugurating the Bank Governance Program for Directors/Senior Management held here jointly by Pakistan Institute of Corporate Governance, International Finance Corporation & Hikmah Consulting.
Relief in power loadshedding top priority: MukhtarSalim Ahmed Lahore—Federal Minister for Water & Power Chaudhry Ahmad Mukhtar has said that optimal utilization of the existing power generation capacity and provision of relief to the masses by minimizing electricity shortfall in the country is his ministry’s foremost priority.
He expressed these views while presiding over a meeting at WAPDA House here on Tuesday to review electricity situation in the country and progress on the water and power sector projects.
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