Monday, December 13, 2021
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Chinese company to invest $360m in Pakistan

ISLAMABAD: Chinese company Century Steel has decided to make a $360 million investment in Pakistan for which the government has allotted 20 acres of land in the Rashakai SEZ.

According to details, the government commenced the sale of plots in Rashakai SEZ in January and has since then, allotted 585 acres of land to 24 zone enterprises with a planned investment of Rs136.7 billion, including FDI of $5.21 million in Allama Iqbal Industrial City, Faisalabad.

Documents state that four out of nine CPEC SEZs are at an advanced stage of development. These include the Rashakai SEZ, Allama Iqbal Industrial City, Faisalabad  Bostan SEZ and Dhabeji SEZ.

The government has also approved PC-ls worth over Rs16 billion for gas and electricity providers in the above-mentioned SEZs which are in the advanced stage of development.

According to details, 10 MW electricity was provided to Rashakai SEZ in October 2020 as a short term arrangement and 50 MW is to be provided by June 2022, while gasification of the zone is to be completed by December 2021.

Similarly, the government provided 10 MW of electricity in Allama Iqbal Industrial City in December 2020 whereas the construction of grid stations for the provision of 20 MW of electricity is in progress with work expected to be completed by December.

On the other hand, the government provided 5 MMCFD gas as a short-term arrangement in December 2020 in this economic zone. It will also provide 5 MW electricity in Dhabeji SEZ till December 2021 whereas work is in progress for the provision of 13.5 MMCFD gas.

On the other hand, 5 MW electricity will be provided to the Bostan SEZ by December while an amount of Rs731 million has been approved and allocated in PSDP 2021-22 for gasification of the zone which will be completed in 18 months’ time from the release of funds to SSGCL.

It is pertinent to note here that the government has identified nine SEZs under the cooperation of industrial development, including Rashakai SEZ, Allama Iqbal Industrial City, Faisalabad Bostan SEZ, Dhabeji SEZ, Model ICT SEZ, Pak Steel Mills SEZ, Karachi  Moqpandas SEZ, GB Mirpur SEZ, and AJK and Mohmand Marble City.

Govt saved Rs5.2bn by detecting 272,149 gas theft cases

The government saved Rs 5.2 billion on account of detecting 272,149 gas theft cases with total volume of 6,365 million cubic feet (MMCF).

According to three-year performance report released on Thursday, the average monthly loss of high Unaccounted For Gas (UFG) areas was 1,348 MMCF in Fiscal Year 2019-20 which has now been reduced to 859 MMCF during current FY 2020-21.

In order to reduce UFG losses, project regarding Extension and Rehabilitation of gas network in Oil and Gas Producing Districts (Karak etc) under 14 Sales Meter Stations (SMSs) at a total cost of Rs. 9.0 billion (with Rs. 4.7 billion as SNGPL share & Rs. 4.3 billion as KPK Govt. share) was prepared. In July, this year, Sui Southern Gas Company Limited commissioned a new gas pipeline to augment gas supply for its customers residing in Defence Housing Authority (DHA) and Clifton areas/ The 7-Km, 20-inch diameter, main link distribution project was undertaken by the Company’s Projects and Construction Department.

Work on the project started in December 2020 from the vicinity of Dolmen Mall Clifton.

Open access was granted to private sector to import LNG and Private sector has been allowed to set up terminals in the country with no involvement from Government. Similarly, two new modern refineries are under development while incentives package is being provided for upgradation of existing refineries. Meanwhile, 39 new discoveries in oil and gas sector have been made since 2018 while 40 new blocks for oil exploration in process. New downstream oil policy has also been finalized, the report said.

Dualization of white oil pipeline reducing road traffic to be operational soon. Professional CEOs were appointed in PSOCL, OGDCL, SNGPL, SSGCL, PARCO and GHPL and institutional arrangements have been put in place to provide technical training to ex-cadre employees of Petroleum Division. The Petroleum Division has also initiated scores of Public Sector Development Projects (PSDP) for ensuring energy security of the country in last three years.

The projects included exploration and evaluation of coal in Nosham and Bahlol Areas Balochistan, Geological Mapping of 50 Toposheets out of 354 unmapped Toposheets of outcrop area of Balochistan province, Legal Consultancy Services for drafting of Model Mineral Agreement and updating of Regulatory Framework, supply of 40 MMCFD gas/RLNG to Allama Iqbal Industrial City Special Economic Zone (SEZ), Faisalabad, supply of 10 MMCFD RLNG to Bostan Special Economic Zone, supply of 13 MMCFD RLNG to Bin Qasim Industrial Park, Pakistan National Research Programe initiated on Geological Hazards (Earthquakes and Landslides) Data Acquisition along Active Faults and Identification of Potential Landslides Hotspot Zones, Development of Strategic Underground Gas Storages (SUGS), expansion and up-gradation of Pakistan Petroleum Core House (PETCORE), supply of 13.5 MMCFD Gas at Doorstep (Zero Point) of Dhabeji Special Economic Zone (SEZ) Sindh, supply of 30 MMCFD Gas at Doorstep (Zero Point) of Rashakai Special Economic Zone.

CPEC helping broaden scope of govt to industrial, IT, Agri sectors

China-Pak-_CPEC-1The Pakistan Tehreek-e-Insaaf (PTI) government’s special focus on multi-billion dollar projects of China Pakistan Economic Corridor (CPEC) has helped broaden its scope from infrastructure and energy to industrial, information technology (IT) and agriculture sectors.

During the first three years of the incumbent government, new infrastructure projects started with particular emphasis on the western alignment of CPEC which connects the most underdeveloped regions with Gwadar and major urban centers of the country.

In addition, based on the government’s emphasis on clean energy, work on hydel power projects such as Azad Pattan and Kohala has also been initiated.

With respect to Gwadar’s development, a three-year performance report launched by the government on Thursday said a new international airport in the city is under construction; the connection with national power grid is in advance stages of completion; dams for increased water supply have been built; Eastbay Expressway is nearly completion and a number of socioeconomic projects for the people of Gwadar and nearby areas are being implemented.

The first Special Economic Zone (SEZ) under CPEC became operational in Faisalabad in 2020. The second SEZ has been set up in Rashakai in Khyber Pakhtunkhwa by a Chinese developer, who is also responsible for marketing this SEZ to Chinese and other investors. The third SEZ is expected to become operational at Dhabeji in Sindh soon. Major industrial investment is expected in these SEZs which will make the industrial cooperation strand of CPEC the most vibrant element of the Corridor.

The agriculture Joint Working Group (JWG) under CPEC was set up in March 2020. One of the first projects being taken up is high quality cotton seed production.

Collaborative investments by Chinese and Pakistani companies for different high value crops and large-scale dairy farming are being worked out. This injection of new vitality and global connection is absolutely vital for our agricultural transformation, the report added.

Steps taken to boost investment: CM aide

SWABI: The Pakistan Tehreek-i-Insaf government has taken numerous steps for boosting investment and trade activities in Khyber Pakhtunkhwa.

This was stated by adviser to chief minister on industry Abdul Karim while speaking at the oath-taking ceremony of Anjuman-i-Tajaran, Swabi, on Friday.

The gathering was also attended by leaders of different political parties, members of Swabi Chamber of Commerce and Industry and officials of the district administration.

Mr Karim said the provincial government had provided various opportunities to investors in the Rashakai Economic Zone, which was situated at the junction of Swabi, Nowshera and Mardan districts. “The economic zone offers the best investment and profiting opportunities to entrepreneurs,” he added.

Mr Karim, who is also a businessman, said traders of the district should contribute to the economic progress of the province. He said there were various opportunities for flourishing business, and asked entrepreneurs to invest in different sectors.

“The present era is an era of competition and those who are lagging behind will be big losers,” he said.

Mr Karim spoke about the provision of Sehat and Kisan cards and said Education Cards would be provided to the talented students to acquire knowledge in the premier institutions of the province. “We are encouraging talent and merit,” he said.

Land allocated to nine more investors in Rashakai SEZ

In a major step towards the development of the Rashakai Special Economic Zone, the government approved applications of nine investors for a total of 25 acres of land in the flagship industrial estate of China-Pakistan Economic Corridor (CPEC).

According to Gwadar Pro, the applications were approved during second meeting of the Rashakai SEZ Committee held here this week the KP Board of Investment and Trade (KPBOIT) revealed in a tweet. KPBOIT is responsible for promoting industrialisation and trade potential in the KP province. According to Arbab Haroon, spokesperson for KP Economic Zones Development and Management Company (KPEZDMC), the following firms have been awarded land in the Rashakai SEZ. GEO Crete Absolute Construction Co. has been awarded 2 acres of land. The company will manufacture a chemical to stabilise land for construction of roads, buildings and other structures. One acre land has been awarded to Gul Steel, while 10 acres have been allotted to Wah Nobel, a chemical manufacturer.

Industry to provide 15,000 jobs to youth, says CM’s aide

SWABI: Adviser to the chief minister on industry Abdul Karim has said about 15,000 jobless educated youth will get employment in the industrial sector, enabling them to earn their livelihood with dignity and honour.

Addressing a function in Chota Lahor here on Monday, he said Prime Minister Imran Khan had asked his ministers and advisers to deliver according to the people’s expectations.

He claimed that the country’s economy was improving as all the indicators were encouraging. “Incentives given to the entrepreneurs by the government will prove beneficial for the country’s feeble industrial sector.”

Mr Karim said initiation of work on the Rashakai Economic Zone would hugely benefit the districts of Mardan, Nowshera and Swabi. Former tehsil nazim Sohail Khan and other PTI leaders also spoke on the occasion.

In a separate development, 70 local leaders and workers of Awami National Party joined the ruling Pakistan Tehreek-i-Insaf in Yar Hussain region on Monday. They made the decision at a function. Yar Hussain area is considered a stronghold of ANP.

PTI leaders welcomed the new entrants to the party, saying they won’t be disappointed.

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