Articles by "Investment"
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on January 05, 2019 1
Saudi Arabia keen to invest in renewable energy in Pakistan
Saudi Arabia is interested in undertaking renewable energy projects in Pakistan, announced Saudi Adviser for Energy and Mineral Resources Ahmad Al-Ghamdi.
During his visit to the Karachi Chamber of Commerce and Industry (KCCI), he said representatives of a Saudi company, Aqua Power, would soon be visiting Pakistan to introduce renewable energy technologies including solar, wind and other technologies.
“We have also discussed investment opportunities in Pakistan’s mining sector and in this regard, a memorandum of understanding is at final stages, which will soon be signed between both the countries, signifying commencement of new relations between Pakistan and Saudi Arabia,” the adviser said.

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on January 05, 2019 6

Defence Housing Authority DHA  Quetta to Be Launched Soon
The first ever Defense Housing Authority (DHA) housing scheme for Balochistan will be launched soon. DHA Quetta, its organizers say, will be a state of the art housing project of Pakistan.
This was disclosed by Administrator DHA Quetta Brigadier Muhammad Javed Iqbal in an event organized at the DHA Golf & Country Club, Karachi. People associated with the Real Estate and business community attended the event.
Furthermore, Crig Iqbal stated that land for the DHA Quetta has been provided by corporate Estate and Asset Management.
Brigadier Muhammad Javed Iqbal said that land acquisition for the project is under process and DHA Quetta has already acquired large chunks of land. Modern residential structures with health, education and other allied facilities will be developed as part of the housing project.
“We are keen to provide better residential, educational and business facilities to people from all walks of life.” Javed Iqbal added.
He also highlighted that the capital of Baluchistan needs a modern housing society to fill in the existing vacuum for a modern housing project in the city.
The concept of DHA Quetta was conceptualized to address the needs of the capital of the largest province of Pakistan in 2015.
Bids for the gatehouse design at the main entrance are already open for submissions. The groundbreaking ceremony for this gatehouse will be held very soon



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on January 04, 2019 0
World’s Biggest Oil and Gas Company Re-Enters Pakistan After 27 Years
World’s largest oil and gas company ExxonMobil, has re-entered Pakistan after a gap of nearly three decades. ExxonMobil’s offshore deep sea drilling equipment has just reached the Karachi Port.
A source told that ExxonMobil’s offshore drilling equipment includes a SIAPAM mothership with a RIG and three supply vessels docked at Karachi Port.
These ships will start their drilling operations from Jan 6, 230 KM from Karachi coastline in open sea. The drilling activity will be done at a depth of 6200 feet. This is the first operation of ExxonMobil in Pakistan after 27 years, the company exited the country in 1991 after a change in its policy.
ExxonMobil has opened a new venture office in Islamabad on Nov. 27, 2018, to start oil and gas explorations activities in the country.
The company holds a 25 percent interest in Block G located offshore Pakistan which is operated by Eni Pakistan Limited. ExxonMobil is working with its partners and the government of Pakistan.
In Jan 2010, the first attempt was made for hydrocarbon exploration in Pakistan. Shark 1 is the first exploratory well, being drilled in Indus ‘M’ Block, located 87 KM south-west of Karachi. The Block is a joint venture (JV) between ENI with a 70 percent working interest, and PPL holding the remaining 30 percent.
Liquefied Natural Gas (LNG)
ExxonMobil and the Pakistani consortium Energas signed an agreement to support the development of a liquefied natural gas (LNG) import terminal and to support securing the supply of LNG.

The agreement is an important milestone for the project, which will help meet the country’s energy needs and drive economic growth by providing a reliable supply of cleaner-burning natural gas.
ExxonMobil is working and cooperating with all the stakeholders to help realize this strategically important project for Pakistan.



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on January 04, 2019 1
Suzuki’s 2019 Gixxer 150CC SF Sports Bike is Coming to Pakistan
Pak Suzuki’s all-new 2019 Gixxer 150CC SF is coming to Pakistan this year.

Reportedly, the vehicle manufacturer has already showcased its bike at an Auto Show in Karachi held on December 23, 2018. According to the available details, the bike will sport a 4-Stroke single cylinder air-cooled engine.
As for the color, this bike has the same theme used by Suzuki for the bikes participating in MotoGP racing. Furthermore, this all-new bike has 56.0 x 62.9 mm Bore and Stroke with 9:1 compression ratio.
Both self-start and kickstart options are available. The fuel tank capacity of this bike is around 12 liters, and has 130 kg dry weight.
As for its launch date, the company has not announced any. However, chances are it will enter the market in the second or third quarter of this year. Apart from the launch date, no price has been divulged yet


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on January 04, 2019 0
UAE Delegation is Arriving in Pakistan to Resolve Etisalat’s Pending $800 Million PTCL Payment
A high-level UAE delegation is due in next few days where the matter pertaining to the much-awaited $800 million outstanding dues on account of privatization of Pakistan Telecommunication Company Limited (PTCL) is likely to be resolved.
This was stated by Secretary Privatization Rizwan Malik while briefing the Senate Standing Committee on Information Technology and Telecommunication.
The committee met with Rubina Khalid in the chair on Wednesday where Privatization Division briefed the committee on the privatization of PTCL along with the sale, purchase agreement.
Malik said that due to lack of proper homework for identifying properties by the concerned departments, issues were created for the government of Pakistan. During the last high-level interaction, it was evident that for the first time Etisalat has shifted their position and shown interest to resolve the matter amicably.
According to the agreement in case of non-transferable of properties, both sides would independently evaluate its prices and the highest would be adjusted. According to Pakistan’s side evaluation, the remaining 34 properties have a value of $87 million as made by independent valuers, which was also shared with Etisalat and the Escrow Agent. However Etisalat shares its findings with the Escrow agent but not with the government of Pakistan, Secretary added

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on January 04, 2019 0
Pakistan, KSA set to ink multi-billion dollar Aramco oil refinery deal
A 15-member Saudi delegation visited Gwadar the port city in Balochistan as part of the finalization process of MoU for the Aramco oil refinery.
Pakistani authorities expect to sign a number of investment deals including the construction of mega oil refinery during the upcoming visit of Saudi crown prince to Pakistan.
Pakistani authorities are briefing visiting delegation of SaudiArabia at Gwadar, 
Pakistani authorities are briefing visiting delegation of Saudi Arabia at Gwadar, Balochistan.

MoU for construction of mega oil refinery will be inked in February, says information minister
Pakistan expects $15 billion investment from Saudi Arabia in the next 3 years

KARACHI: Pakistan and the Kingdom of Saudi Arabia have finalized the Memorandum of Understand (MoU) for the construction of multi-billion dollar Saudi Aramco oil refinery in Gwadar deep seaport city, located in Balochistan province, officials said on Thursday.
Pakistan is expecting to sign a number of investment deals including the construction of mega oil refinery in the month of February in the presence of a high-level Saudi delegation, confirmed Information Minister Fawad Chaudhry. 
“The oil refinery project is the biggest investment project of Saudi Arabia in Pakistan,” he added.
Pakistan and Saudi Arabia have lately expressed renewed interest in enhancing bilateral strategic and trade engagements while the Kingdom also pledged $3 billion in a financial assistant to help Pakistan out of its economic woes. 
“A 15-member delegation of Saudi Arabia visited Gwadar from Karachi as part of the finalization process of the MoU for Aramco oil refinery,” Haroon Sharif, Minister of State and Chairman of Pakistan Board of Investment (BoI), told Arab News.
“We have finalized the MoU for the construction of Aramco oil refinery,” Sharif said adding that “overall directions have been agreed upon and the agreement will be signed at an ‘appropriate time’.”
Pakistani authorities expect $15 billion investment from Saudi Arabia after Prime minister Imran Khan chose the Kingdom for his maiden visit and consequently made two official visits.
Earlier, the BoI chief had said that “We are going to sign MoUs with Saudi Aramco and Acwa Power within few weeks. Saudi Aramco is going to set up oil refinery and petrochemical complex in Pakistan while Acwa Power will invest in Pakistan renewable energy sector”, Sharif informed.
As part of the investment plan, the Saudi Aramco will construct petrochemical complex housing multi-billion dollar oil refinery.
“I am expecting around $15 billion investment from Saudi Arabia in the next 3 years. The inflow of investment for oil refinery and petrochemical complex in Pakistan is estimated to be between $6 billion to $10 billion,” BoI Chairman told Arab News. 
Pakistan hopes to attract more than $40 billion in Foreign Direct Investment (FDI) during the next five years. “We estimate that roughly around $40 billion investment will be made by these three countries (Saudi Arabia, UAE, and China) in the next three to five years,” Sharif had told Arab New during his recent interview. 
During the recent visit of the Saudi delegation to Gwadar, the Chairman of Gwadar Port Authority, Dostain Khan Jamaldini, on Wednesday gave a briefing about the current developments including the port, progress on China-Pakistan Economic Corridor (CPEC) and Gwadar Master Plan

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on January 02, 2019 0
Celebrating 2019?
 Suzuki Raises Prices for All Car Models by Up to Rs. 322,000
While many people have celebrated the eve of New Year with vigor, some are keeping the festive spirit on the first day of 2019 as well. Many people are celebrating the first Sun of the year in different ways. Pak Suzuki has decided to celebrate the occasion in its own way.
The car manufacturer has announced a hike in its prices of both locally manufactured cars and Completely Built Units (CBUs) by up to Rs. 40000 and Rs. 322,000 respectively.
According to the available details, the company has dispatched its circulars of new prices to its dealers all over the country. Here are the details of the revised rates. It needs to be noted here that the company had increased the prices of most of these models five times last year




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on January 02, 2019 0
Atlas Honda All Set to Launch A New 125CC Motorcycle in Pakistan

The country’s leading bike manufacturer, Atlas Honda, is all set to launch a new model of 125cc motorcycle. The bike is said to be a CB 125F, which was recently launched in China.
As per reports, the new model will be unveiled on January 4, 2019, in Lahore.

With regards to the launching of the bike, the company is going to organize an event for the dealers at Lahore’s Royal Palm Golf and Country Club. Dealers from across the country will attend the event, where the bike will be rolled out.
The company has not shared the specifications of the model, though it is expected that the two-wheeler will have the same specifications as the one launched in China. There are possibilities that it will come with some minor cosmetic changes.
The company has also not shared the date of its availability in the market.
There is no official word about the price of the motorcycle, but experts believe that it will be priced close to Yamaha and Suzuki’s 125cc offerings. A rough estimate puts it between Rs. 140,000 to Rs. 150,000.
Yamaha already offers different bikes in the surging 125cc category. Suzuki also recently launched its new contender for the category. Atlas Honda now aims to compete against Yamaha in the category with the launch of the new model.





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on January 02, 2019 0
China to Secretly Lend $2 Billion to Support Pakistan: Report
China is going to lend $2 billion to the country as balance of payments support. According to a report in international media, China will lend around $2 billion to bolster Pakistan’s foreign exchange reserves and avert further depreciation of the rupee against the US dollar.
The Financial Times, quoting two senior government officials, said China will be providing Pakistan with $2 billion to stabilize its currency and bolster its dwindling forex reserves.
The official said that China’s promise to Pakistan is an indication of their commitment to helping the country avoid a crisis.
According to the report, China isn’t officially announcing the financial support for Pakistan as the government faces high debt repayments, fiscal deterioration and sliding forex reserves.
Recently, Saudi Arabia and UAE have announced to extend support to Pakistan in a bid to avoid a possible balance of payment crisis.
Both countries are expected to deposit $3 billion in the State Bank of Pakistan to shore up Pakistan’s foreign exchange reserves.
The countries are also expected to supply oil to Pakistan on a deferred payment facility for three years as well


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on January 01, 2019 0
 
Pakistan Set to Receive Investments Worth Over $30 Billion From Close Allies

As the New Year celebrations are set to begin in Pakistan within hours, here is a reason for Pakistanis to celebrate the onset of the year with double joy.

The outgoing year has not been very conducive for the countrymen as far as the economic condition of the country is concerned. During the year, many economic indicators were showing a declining trend and the country was faced with an imminent balance of payment crisis.

However, the country is slated to ink investment deals with some of its close allies to the tune of billions of dollars, which will help revive the ailing economy of the country.

“We will be signing agreements with investors from SaudiArabia, the UAE, #Germany, Malaysia, and Korea in January which is worth more than $30 billion,” Haroon Sharif, Minister of State and Chairman, Board of Investment, told a Saudi newspaper.

The country has firm and solid commitments from three of its allies, namely Saudi Arabia, the UAE, and China, ensuring that the country becomes the hub of diversified investments in the coming years, Sharif said.

“We are going to sign several Memorandum of Understanding (MoU) with Saudi Aramco and Acwa Power within a few weeks. Saudi Aramco is going to set up an oil refinery and petrochemical complex in Pakistan while Acwa Power will invest in Pakistan’s renewable energy sector,” Sharif told the newspaper.

The country is expected to receive around $15 billion in investment from Saudi Arabia in the next three years. “The inflow of investment for the oil refinery and petrochemical complex in Pakistan is estimated to be between $6 billion to $10 billion.”

Islamabad is also expecting a substantial amount of investment from the UAE, with major focus sectors continuing to be petrochemical, real estate, port and shipping development, agriculture, and corporate farming.

“I am expecting a similar amount ($15 billion) from the UAE in the next three to five years. We will sign a MoU with UAE’s companies in January 2019,” Sharif said, adding that the “Abu Dhabi National Oil Company (ADNOC), DP World, and Emaar Properties are among the prominent names who have committed to investing in Pakistan”.

In addition to Saudi Arabia and the UAE, Pakistan has also signed an agreement with China which is being described as the second phase of the China Pakistan Economic Corridor (CPEC) project. “We had signed an industrial cooperation agreement with China two weeks ago. Under the agreement they will put up industries in Pakistan’s economic zones which are located in Sindh, Punjab, and Khyber Pakhtunkhwa (KP),” Sharif, who had signed the agreement, said, adding that five priority areas have been identified, namely “food and agriculture, value-added textile, mining, and emerging technologies”.

Apart from Saudi Arabia, the UAE and China, the BOI has received written commitments from Malaysian, German, and Korean investors.




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on January 01, 2019 0

Financing deal signed for 330MW power project

Fauji Fertiliser Company (FFC), along with other equity partners including Hub Power Company (Hubco), has signed a financing agreement for its 330-megawatt power project, Thar Energy Limited, at the 8th Joint Coordination Committee (JCC) meeting in Beijing.
China Development Bank was appointed lead arranger of foreign financing and Habib Bank Limited was selected lead arranger of local financing.

Federal Minister for Planning Khusro Bakhtiar, Sindh Chief Minister Syed Murad Ali Shah, Hubco Chief Executive Khalid Mansoor, Thar Energy Chief Executive Saleemullah Memon were present at the signing ceremony.



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on December 28, 2018 0

Inland water transport

Vice President of Federation of Pakistan Chambers of Commerce and Industry (FPCCI), Tariq Haleem has said that the FPCCI Standing Committee on Inland Water Transport & Flood Management has prepared a working paper and it will be presenting this to the Prime Minister of Pakistan sometime during February 2019. He said it is a historical fact that during the British Raj in 1800's, the British troops moved from Karachi to Khyber by the Inland Waterways on boats.

It is only after the start of railway that this practice stopped. When you re-commission your inland waterways then automatically flood management is done and wastage of water is curtailed. He said that lack of general awareness, absence of right policies and counterproductive regulations are the impediments of maritime sector that need to be addressed.

He said that Pakistan's maritime, seaboard and logistic sectors have enormous potential to earn for the country. However, these sectors have not been harnessed and needs government's focus, he added. He said that even a single rupee of extra cost at the ports trickles down to our masses, if a rupee is saved that saving also trickles down to the masses. We need to bring down the cost of doing business and improve our efficiency at all the ports of Pakistan, he emphasised.

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on December 28, 2018 0


    Air Sial Gets Approval from Prime Minister to Launch Its Operations

The government has granted approval to the launch of a new private airline, which will be starting its operations next year.
AirSial, which is a venture of Sialkot Chamber of Commerce and Industry (SCCI), was given the go-ahead by Prime Minister Imran Khan to launch its operations.

The airline will be based in Sialkot. Chairman of AirSial, Fazal Jillani said it would become operational within the next year.

The Prime Minister granted the approval during a meeting with local businessmen including AirSial Chairman Fazal Jillani. The delegation was led by the Special Assistant to the Prime Minister on Youth Affairs Usman Dar, who called on the premier and Minister for Privatization and Aviation Muhammad Mian Soomro in Sialkot.

The local businessmen thanked the Prime Minister for extending cooperation for the launch of the airline.
The airline is being launched jointly by the Sialkot Chamber of Commerce and Industry (SCCI) and Sialkot International Airport.

The local business community of Sialkot had established the Sialkot International Airport on a self-help basis. Following the establishment of the airport, the business community in 2009 had decided to launch an airline to provide a cost-effective and reliant travelling facility to the community and others on both domestic and international routes.

The new airline secured an aviation license (Regular Public Transport – RPT) from the Civil Aviation Authority (CAA) in October 2017. The airline plans to operate services to key destinations in Pakistan and the Middle East with three Airbus A320 aircraft.

During the meeting with the businessmen, the Prime Minister observed that Sialkot is fast becoming a major hub for investment and that the government would provide additional facilities to the area.

“The airline’s launch will create jobs and stimulate business activity in the region,” Khan added.

The Sialkot business community has also planned to set up a food and vegetable processing/packing centre close to the airport in order to boost exports

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on December 27, 2018 0


COMPARING PORT CAPACITIES
By Mehreen Nadeem


Trade activities fuel a countries economy. Generically, a system of imports and exports is developed through land routes whereas maritime routes are only available to geographically fortunate countries.

Gwadar, the crown of CPEC, comprises of a core city as well as a port side. Largest in the world, Gwadar Port is adequately constructed and fully equipped to handle, store as well as clear an aggregate of 400 million tonnes of cargo, annually.

Welcoming its first liner in March 2018, Port of Gwadar is still in its early stages of development and hasn’t fully risen to its absolute potential. However, in juxtaposition with the Port of Karachi and the Port of Jebel Ali, an adequate estimation of Gwadar’s capability can be deduced.

Port of Karachi

Opened to activity in 1857 and since operated by Karachi Port Trust, it is Pakistan’s first sea port and consequently opened a myriad of vistas for the nation. With an aggregate of 30 available berths and 8 wharfs, it includes a deep natural harbour and provides safe navigation for vessels. Being the country’s largest metropolis, Karachi contributes to 53.38%** of the total collections of the Federal Board of Revenue. A major portion of the profits is generated through customs duty and sales tax on imports.

Port Of Jebel Ali

A century and 2 decades after the inauguration of the Port of Karachi, Jebel Ali in Saudi Arabia came in to existence. The 9th busiest port in the world with the largest man-made harbour to have ever been built the Port of Jebel Ali has an annual port capacity of 7.62 million tonnes.*

Owing to its strategic location the port provides a full market access to over 2 billion people and consequently plays an essential role in UAE’s economy.

Gwadar Port

Once a remote town of Baluchistan, Gwadar has now flourished and progressed to become one of the most lucrative cities in Pakistan. Under the China-Pakistan-Economic Corridor, Gwadar city and port is all set towards redeeming Pakistan’s crashing economy. It is strategically developed to handle 200 million tonnes of cargo each year while plans of expanding the venture in phase III entail a port capacity of 400 million tonnes annually.

Conclusion

In summation, Gwadar Port is the shining beam on the sombre horizon of Pakistan’s economy. The port will not only bring internal benefits in terms of its size but will also expedite trade activities, for China, as well as  lathe
ndlocked Central Asian countries.








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on December 24, 2018 0

Karachi-Lahore route: Railways, private sector to launch new cargo train
Pakistan Railways, in collaboration with the private sector, is set to launch a new cargo train service on the Karachi-Lahore route next week which will improve supply chain management in cross-border trade, cut freight cost and transportation time significantly.


“We are set to (initially) operate five cargo trains a week from December 25,” Marine Group of Companies Managing Director Aasim A Siddiqui, who represents the private sector in a joint venture with Pakistan Railways, told The Express Tribune on Saturday.


“This will be the first scheduled cargo train service in Pakistan,” he claimed, elaborating that the key to success of the new service would be its punctuality, accuracy and pre-defined timings for departure and arrival





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on December 24, 2018 0

Motorway ( M-8) is near completion


About 213 km Khuzdar-Shahdadkot Section of Gwadar-Rattodero Motorway ( M-8) is nearly completed and would likely to become fully functional in April 2019.


An official of National Highway Authority (NHA) told APP on Sunday that 188 Km of the section has been accomplished and already open for traffic and people of Baluchistan and Sindh are benefiting by transportation of vegetables and by generating other business. He said that only 5 km of Khori-Wangu Package is under construction.


In this five kilometer portion, the remaining work would be completed within three months, the official said.


He said that reason of delay was non availability of funds. As soon as the payment is released to the contractor, the 5 km portion will also be completed and opened for traffic, he said.


The Gwadar-Ratodero Motorway is divided into two sections; the first from Gwadar to Khuzdar and the second from Khuzdar to Ratodero.






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on December 23, 2018 0


Power Ministry to Hire 10,000 People to Prevent Power Theft


Minister for Power, Omer Ayub Khan, announced on Friday that the ministry is planning to hire more people in the power distribution companies through a transparent procedure to fill in the shortage of meter readers and technical personnel in order to prevent electricity theft.
The minister said that there will be as many as 10,000 hirings in this regard. He made this announcement in the question hour in the National Assembly.


Ayub further revealed that they will hire the new staff through advertisements in a transparent manner to improve the efficiency of the power distribution companies.


He apprised the House that the Power Division had clearly directed all the power distribution companies to ensure accurate billing and abstain from overcharging the public.


In case of overcharged electricity bill, the consumer can write to the relevant offices for their grievances’ redressal, said the minister.


He told the parliamentarians that vacancies of meter readers and technical staff remained unfilled for years. Due to the shortage of staff, incidents like overbilling and fictitious meter readings occurred, Ayub added.


The minister said that they will improve the financial condition of the power sector through technology, administrative measures, and better availability of human resources.


According to him, around 250 officials in the power companies have been terminated while 8000 first information reports (FIRs) have been filed. Moreover, they have sent 1250 officials to jail in lieu of FIRs on charges of power theft and other crimes.



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