Infrastructure and Transport News

[bhangra12345]

Apart from prestige there's not much A-380 can add to Pakistani airports. The long distance trunkliner is ideal for high density routes such as Sydney-Singapore, Delhi-Los Angeles, Tokyo-New York, London-Bangkok etc.

Pakistani airports haven't developped themselves as major regional hubs yet, designs like B743/4, B772/3 and A333/343 are much more effective serving Karachi and Lahore.

Do you build a runway every second day? You are in the airline business I believe, what do you think is the avg time between major upgrades of runway? I do not know, could you please indicate it, If it is more than say 10 years, then the infrastructure should be built for all runways being built now, otherwise if less than 5 years, then it is no brainer that Pakistan does nt need to invest in them right now.

 

[Neo]

BA doubles flights ​

Thursday, November 01, 2007

ISLAMABAD: British Airways is spreading its wings to Pakistan by doubling its flight schedule between Islamabad and London to six flights a week, to cater to the increased passenger demand between the two countries.

Addressing a press conference here, BA Commercial Manager for Pakistan Paul Dhami said the six flights a week would commence with the airline’s winter schedule, and was the result of a growing demand from both business and leisure travellers for flights between Pakistan and Britain.

The new schedule would be operated using Boeing 777s, scaling up overall capacity by 52 per cent compared to the present schedule, with premium capacity increasing by 44 per cent. As a result of the additional flights, the airline hoped that its world cargo capacity from Islamabad will increase by 100 per cent and these new rotations come on the back of new Pakistan freighter routings that were introduced earlier this year. He further said that the flights would offer alternating flights times on different days at 0818AM and 1230PM for even greater choice.

BA doubles flights

 

[Neo]

Lufthansa willing to operate cargo flights from Sialkot ​

SIALKOT (November 01 2007): German Ambassador to Pakistan Dr Gunter Mulack has said that German Airline Lufthansa is ready to operate three cargo flights weekly from Sialkot to facilitate the business community.

Addressing the members of Sialkot Chamber of Commerce and Industry (SCCI) here on Tuesday night, he stressed upon the business community of this export-oriented city and hub of cottage industry to concentrate on producing quality products for competing with the global market more easily.

The quality production had become more imperative because the buyers were become more quality conscious and under the present global scenario global market could only be competed with quality and standard products, he said. The German ambassador assured the house that Germany would extend all possible support and assistance for upgrading the industrial sector of Pakistan.

Dr Gunter revealed that Germany was also ready to provide services of its senior citizens (Expertise) to business community of Sialkot enabling them to upgrade their workplaces, quality and production in the field of surgical instruments and sports goods etc.

He added that their expanses would be borne by the government while the business community would ensure accommodation facilities. He said that German Engineering University Lahore would be completed in two year, which would provide modern education facilities to the masses as well as help the industrial sector.

In his address of welcome, SCCI President Sheikh Abdul Waheed Sandal said that Pakistan and Germany had a tradition of good and amicable relations and it was encouraging that foreign ministers of both the countries were holding regular bilateral policy consultations that helped in further improving the relations.

The SCCI president suggested that exchange of trade delegation and one-to-one meeting of businessmen of both the sides for which the two countries must ensure simple visa process enabling the businessmen get visas easily and meet each other as and when required.

Later, the German ambassador visited Iqbal Manzil (the birthplace of Allama Iqbal) to pay homage to great philosopher, poet and thinker. He went round of different areas of Iqbal Manzil. The German ambassador on Wednesday morning also visited a renewed soccer ball industry and appreciated the skill and craftsmanship of the workers.

Business Recorder [Pakistan's First Financial Daily]

 

[Neo]

Thai Airways launches new winter direct service ​

KARACHI (November 01 2007): Thai Airways announced the imminent launch of its new winter 2007 direct service between Karachi, Lahore, Islamabad and Bangkok. The airline's country general manger, Kittiphong, made this announcement at a press conference held at a local hotel on Wednesday.

The new schedule will give more convenience and flexibility of travel to passenger in both business and leisure segment in Pakistan, which will be smoother than ever before.

Speaking at the conference, Kittiphong said, "Being the only airline from the South East Asia that operates covering the three major cities in Pakistan, we are trying our level best to provide more convenience, more flexibility and better services to our passengers in all possible aspects by applying the localisation into our services. Thai on its all network serves with Halal foods on board."

Starting October 29, Thai will operate four direct flights a week from Karachi to Bangkok on Monday, Wednesday, Friday and Saturday; by departing Karachi as TG502 at 11.55 pm to arriving Bangkok at 06.30 am next day. The return flight, TG501 that also operates on Monday, Wednesday, Friday and Saturday; is leaving Bangkok at 07.10 pm and will be arriving Karachi at 10.45 pm same day. There will be no more service from Karachi to Muscat vice versa as from winter schedule.

"We consider Pakistan a very important market. We have been serving the Pakistani nation for more than 30 years since 1976. We believe that our new improved winter 2007 schedule will benefit to all passengers and we will continue doing our utmost to ensure the passengers in Pakistan can enjoy our renowned Royal Orchid Services as smooth as silk," said Kittiphong.

The major change in Karachi operations are day of operation and earlier timing that will give passenger more convenience as Thai used to leave Karachi very early in the morning. The new schedule for Karachi flights will improve flight connections at Bangkok so that passenger can enjoy the immediate connection from Bangkok to many destinations in Asia and Australia especially Japan, China, Korea, Malaysia, Hong Kong and Indo-China four times a week.

Lahore operations are also increased by adding two more frequencies on Monday and Wednesday to accommodate the growing demand of the northern business hub city. Islamabad operations, however, will add one additional flight on Saturday to the existing three flights weekly on Monday, Wednesday and Friday at Islamabad starting from February 2008 onward that will be total of four times a week in 2008 from Islamabad to Bangkok.

Thai Airways International Public Company limited is the national carrier of Thailand. Found in 1960, serving 74 destinations (including domestic destinations) in 35 countries around the world. Thai has over 25,000 employees and a total of 90 aircraft in its fleet. The airline is continuing to strengthen its services through outstanding level of travel comfort. Thai Airways is among the first airlines to have certified Halal foods on board and recently received 2007 world best first class lounge award from Skytrax. Thai is one of the founding members of Star Alliance, the airline network for earth.

Business Recorder [Pakistan's First Financial Daily]

 

[Neo]

Rs7.6bn rail project to link Quetta with Peshawar​

ISLAMABAD, Nov 1: The government will lay a broad-gauge railway track at an approximate cost of Rs7.6 billion to link Balochistan with the North-West Frontier Province.

Sources told Dawn on Thursday that the project would reduce the travel distance between Quetta and Peshawar by more than 400 kilometres.

The two-phase project, it may be mentioned, was approved by the PML-led coalition government in 2005 and at one stage it appeared to have been shelved. The project will link Quetta with Peshawar via Bostan, Zhob, Dera Ismail Khan, Bannu and Kohat.

On completion, the project will provide shortest rail route from Gwadar to Peshawar for the Afghan traffic and to Havelian for onward connection with China via the Khunjerab Pass.

“It will help in realising the dream of turning Pakistan into an economic hub and centre of trade and business,” claims the ministry of railways.

In the first phase, track will be laid from Bostan to Qila Saifullah (152.5km) and in the second phase from Qila Saifullah to Zhob (142.5km).

The narrow gauge track on the 295km Bostan-Zhob section was laid in 1939. It was a low-speed track, with sharp curves and steep gradients.

The Planning Commission was informed that train operation on the sector had become inefficient, uneconomical and very slow. Operation on the route had been completely stopped in 1991 because of huge financial losses.

The project was first announced during President Gen Pervez Musharraf’s visit to Balochistan in April 2005.

Rs7.6bn rail project to link Quetta with Peshawar -DAWN - Top Stories; November 02, 2007

 

[Neo]

PIA should be privatised, says Zafar A Khan​

* Management is exploring other plans to save PIA from losses

KARACHI: Chairman and Managing Director of Pakistan International Airlines (PIA) Zafar A Khan has said that the government should privatise the national flag carrier.

Addressing a press conference after the announcement of financial results for third quarter on Thursday, the PIA chief said the government has decided to privatise many public sector organisations including PIA but, “I have very limited knowledge regarding government policy and PIA privatisation.”

Though he was of the view that such commercial organisations should be privatised.

Results for the third quarter ending in September revealed that the financial health of national flag carrier is moving from bad to worse as its losses aggravated by more at Rs 3.2 billion during the period, making the accumulated financial losses of the whole year up to Rs 10.9 billion. Hence, the overall financial losses of PIA have enhanced to Rs 35.5 billion in the current year against Rs 24.6 billion lost a year ago.

“I am disappointed with the results because they are below our expectations. We were thinking that we would cope up with PIA’s growing financial losses, but we failed to do so. Now we are exploring new game plans and strategies to save the airline,” Chairman PIA affirmed. He said that PIA has suffered big financial losses due to decrease in service sales, rising oil prices and investment in infrastructure. “PIA has lost its passengers on the United Kingdom route and it could not provide services to maximum Umra pilgrims so far this year,” Mr Khan said. Responding to a query, he said that the PIA management was deliberating to hedge Jet fuel in the past but it could not take any step in this direction and was waiting to see crude oil prices less at less than $70 per barrel in the international market.

He explained that the oil prices was uncertain in the global market and if we hedge at this moment when oil prices have mounted to $90 per barrel then it could aggravate losses of the national flag carrier. Currently, he informed, advisors are not supporting the idea of oil hedging. He detailed that Saudi Arabia has changed its “Umra Policy” for the current year and issued less number of Umra visa for Pakistani pligrims and it also changed its definition of “mehram” that resulted in widening the deficit of the state-owned airline.

But, Mr Khan said that he and the PIA management is satisfied what they invested on the improvement of infrastructure and services on the airline and up-gradation of the brand in the world.

He said flight punctuality and services have improved by a great extend as PIA has registered best punctuality performance in September. He added that PIA introduced Revenue Management System to improve our customer and sales service.

Now, he added, our priority is to facilitate 130, 000 Hajj pilgrims in the next few months and we have invested big amount on infrastructure particularly for this sole purpose.

“All efforts have been made to provide better services to Hajj pilgrims by the management of PIA,” he added.

He said that PIA will purchase seven Airbus A-320 aircraft worth $50 million each by 2009, which are highly fuel effective and will save the airline from huge expenses of maintaining and repairing.

Daily Times - Leading News Resource of Pakistan

 

[Neo]

'New transport policy to be implemented next year' ​

FAISALABAD (November 02 2007): Pakistan Government is preparing National Transport Policy (NTP), which will be implemented next year 2008 with the co-operation of Asian Development Bank. According to official sources, the Ministry of Communications (MoC) is working with National Highway Authority (NHA) and ADB on this objective and final draft of Policy has already been produced and circulated to relevant agencies for review.

NHA sources mentioned that Pakistan Government's 10-year road development programme was estimated at 2.3 billion dollar. The first phase costing almost 1 billion dollar, of which ADB is financing 770 million dollar. The first phase is being financed by ADB under an MFF modality, with multiple loans extended for the purpose of sub-projects included in the three batches. ADB is also providing an Asian Development Fund loan of 3 million dollar to support capacity and institutional strengthening work.

Meanwhile, NHA agreed to complete a business plan for 2007-2011. The plan will provide a vision for network development, performance, and financing. According to official sources, the Highway Development Sector Investment Programme supported by the Asian Development Bank (ADB) under a multi-tranche financing facility

(MFF) approved in 2005 is designed to rehabilitate existing road assets, create new ones, advance policy reform, and define other enabling environment conditions for the running of an efficient and sustainable national highway network for Pakistan. The programme will improve connectivity, promote trade and implement the policy changes included in the Road Sector Development Framework developed by the National Highway Authority (NHA), the Programme's Executing Agency (EA).

The Programme comprises both improvements of national highway assets (existing and new ones) and institutional strengthening. It aims to achieve two specific objectives. The first is to improve transport efficiency by (i) executing a national transport policy, (ii) strengthening NHA performance in managing the national highway network, (iii) improving road safety, and (iv) improving road maintenance management and funding. The second aim is to

enhance private sector participation in the road sector by (i) outsourcing road works, and (ii) private operation of NHA assets and activities. Pakistan government had prepared a 10-year road development programme, which will be implemented in three batches. The programme has two main components. (i) National highway improvement. This covers road construction to improve national highways serving inter-provincial traffic and regional connectivity between Pakistan and its neighbouring countries. (ii) Institutional strengthening of NHA. This includes advisory assistance for NHA to refine the highway sector policy; facilitate public-private partnerships (PPPs); and build institutional capacity in business planning, road safety, and road maintenance.

According to update project report, civil works for batch-1 projects are being financed by a loan amounting to 180 million dollar from ADB's ordinary capital resources. This loan was approved on December 13, 2005 and became effective on July 27, 2006.

Procurement of the civil works contracts is well under way. Bidding for four civil works Packages, had been carried out, with two contracts awarded in December 2006 and one in January 2007. The bid for the fourth package is still being evaluated. Two teams of supervision consultants were mobilised in November 2006. NHA is recruiting individual consultants to assist the general manager responsible for ADB-funded projects with the strengthening of project management skills and capacity.

Giving details, NHA sources revealed that Hub-Uthal (N25) project upgrades 85 kilometers of an existing road to a 7.3km carriageway. The actual physical progress of 6 percent is behind the planned target of 18 percent primarily due to delays in the start-up following a change in the road design. It is expected that work will catch up fast in months to come.

Official sources pointed out that NHA proposed a change in the road design after the contract was awarded, from improvement of the existing road to construction of a new carriageway parallel to the existing road. The proposed design change will maintain the alignment along the existing road and will be within the existing right-of-way owned by the government. The original project objective is thus maintained. There are no additional safeguard impacts, while the scope of civil works remains the same but with a cost increase of about 15 percent of the existing contract, said ADB report.

Multan-Muzaffargarh (N70) project involves (i) widening of 19 km of an existing road from a two - to a four-lane road, and (ii) construction of 16 km of a four-lane bypass road in Muzaffargarh city. The actual physical progress of 8 percent is behind the planned target of 11 percent primarily due to resettlement issues.

A resettlement complaint was filed with ADB's Office of the Special Project Facilitator (OSPF) by a group of people affected by the Multan-Muzaffargarh project. ADB examined the complaint and stopped all project activities while looking at the issue. While no land acquisition has begun in the bypass section, a key concern has been to ensure that NHA followed due process in relation to consultations, and ultimately to resettlement and compensation.

NHA has addressed the concerns raised by people in the bypass area by making changes to the corridor, and is presently implementing a time-bound action plan agreed with ADB. NHA is focusing on improved communication and information dissemination and is presently in the final stages of updating the resettlement plan. In conjunction with these activities, a facilitation process led by OSPF is going on. NHA has learned from this process and is now setting up a safeguards team within the institution. A national resettlement policy review is also to be launched by the Planning Commission (with ADB help).

Muslim Bagh-Qila Saifullah (N50) project will upgrade 50 km of the existing road to a 7.3km carriageway. The project has been progressing well, with the actual physical progress of 5 percent against a planned target of 8 percent. There are no specific issues on this project. Work is expected to accelerate in the months to come.

Qila Saifullah-Zhob (N50) project will upgrade the existing road to a 7.3m carriageway. The bids were opened on October 19, 2006. The bid evaluation is still ongoing. NHA is considering the single responsive bid received for negotiation. There is also a strong possibility of rebidding to comply with ADB policies and procedures.

Business Recorder [Pakistan's First Financial Daily]

 

[Neo]

President to inaugurate Sialkot airport on Tuesday ​

SIALKOT (November 04 2007): The decades old dream of local business community of having an international airport at Sialkot would become true on November 6, 2007 when the cargo flights and regular domestic flights across the country from this International Airport will commence.

Chief Executive of Sialkot International Airport Limited (SIAL) Khawar Anwar Khawaja stated this while talking to the newsmen here on Saturday. He said that the President General Pervez Musharraf will formally inaugurate Sialkot International Airport on November 6 during a ceremony scheduled to be held at the airport site near Sambrial-Sialkot, amid airtight security arrangements.

He said that the personnel of the Airport Security Force (ASF) have taken their charge at airport for commencing the regular cargo and domestic passenger flights from it on November 6.

Business Recorder [Pakistan's First Financial Daily]

 

[Neo]

PIA to lease seven new planes from Kuwait company: LoI ready for government approval​

ISLAMABAD (November 07 2007): Pakistan International Airlines (PIA) has finalised a Letter of Intent for leasing seven new A-320-200 Airbus aircraft from a Kuwait-based leasing company.

PIA spokesman told reporters here on Tuesday that the national flag carrier has finalised the agreement for leasing seven new A-320-200 Airbus from 'Aviation Lease and Finance Company' (Alafco), of Kuwait, to modernise its fleet by replacing Boeing 737-300. The delivery of new Airbus planes would be completed in 2009.

He said the PIA management has submitted a financial restructuring plan, based on multiple financial instruments, to the government to boost financial health of the airline.

PIA has entered into cost cutting measures, route rationalisation, cut in administrative expenditure to offset the ongoing financial crisis which now stands at Rs 34 billion, he added. About the recent strike by PIA aircraft engineers, he said the airline would have to bear an amount of more than Rs 800 million per annum if the demands of the aircraft engineers were accepted.

The spokesman said that salaries of PIA aircraft engineers were revised by 35 percent last year, followed by a 10 percent merit increase in salaries during last January. Therefore, he added, further revision of the salary package would be considered once the PIA moves on to better financial health.

He said that PIA authorities were calculating the loss which the national flag carrier suffered last week due to the strike. "We are still calculating the loss, but it would be in millions (of rupees), he added. About the financial crisis of PIA, he said that unprecedented increase in fuel prices in the international market was one of the basic reasons of PIA's cumulative losses.

He said the authorities have planned to reduce the overall fleet age from 21 years to 10 years in the next five years. The size of PIA fleet is currently 42 aircraft. The spokesman said that there were no more questions of safety of PIA planes, as the European Union has lifted its operating restrictions.

Business Recorder [Pakistan's First Financial Daily]

 

[Neo]

Rs 14 billion allocated for roads widening, construction ​

SIALKOT (November 07 2007): Punjab government has set aside more than Rs 14 billion during current fiscal period for the construction of news roads and widening of existing roads in the province. Official sources told Business Recorder here on Tuesday that under the programme 600 km long news roads would be constructed while existing 700 km roads would be widened in various parts of the Punjab.

Under the programme about 10 feet roads would be widened to 20 feet while 12 feet roads would be widened to 24 feet. The step was being taken for further improving the means of communication system and to ensure safe and hassle-free travelling facility to the masses in the Punjab, sources added.

Business Recorder [Pakistan's First Financial Daily]

 

[Neo]

New Islamabad airport to enable A-380 to land comfortably ​

KARACHI (November 10 2007): The first phase of ground levelling of the Rs 24 billion new International Islamabad Airport (NIIA) will be completed before the dawn of the new year, according to Civil Aviation Authority (CAA) sources. The second phase will encompass construction of passenger terminal building, and the airport would be operational by 2010.

The new runways and allied facilities would enable world's largest aircraft, like A-380, to wing their way with ease and comfort, they added. NIIA would be Pakistan's first green field airport, fully equipped with state-of-the-art facilities to provide maximum passenger comfort and convenience, with sufficient space to cater to the high ratio of visitors that accompany passengers.

Technical facilities, terminal building, aprons, taxiways, etc, have been planned in a way to match such facilities available anywhere in the world to meet the increased air traffic.

The NIIA project has been designed according to global benchmarks and would be a step forward towards making Pakistan a major regional hub for trade, tourism and communication. "The completion of this airport will herald a new era of modern aviation facilities in Pakistan, " says CAA Director General Farooq Rahmatullah.

Initially, the project would support a capacity of 6.5 million people, which may be increased in the future to cope with additional needs. Unlike any other airport in the country, NIIA would be equipped to handle landing of all types of aircraft, including A-380, the runway capacity for which exceeds all airports of Pakistan. A runway sized 12,000 feet length has, therefore, been especially planned to take aircraft of this types.

Located about 30 km south-west of Islamabad, NIIA sprawls across an area of 3200 acres. Approximately, 2,000 acres area has been earmarked for aviation-related activities, including a passenger terminal building (capable of handling 6.5 million passengers annually), control tower, single runway (with provision of a secondary runway), taxiways, apron and parking bays for wide body aircraft, cargo complex (capable of handling 100,000 tons annually). A large area has also been earmarked for commercial development, which would include a four-star hotel, duty-free shopping plaza, business centre, food courts and an international convention centre.

NIIA would be a blessing for the locals as it would bring them new employment opportunities, and preference will be given to them. World-renowned international design consultants ADPI and Louis Berger Groups who have been involved in the project. They are currently engaged in developing the airport design for NIIA. CAA has already approved the conceptual and preliminary designs.

The unique design would ensure a technologically advanced interpretation of the rich cultural heritage, including the cradle of the Ghandhara civilisation as well as the long Islamic history.

The CAA also plans to construct an airport city alongside NIIA, which would comprise hotels, restaurants, business centres and other facilities catering to consumer need. The airport city would not only facilitate people, but would also serve as a great non-aeronautical revenue generator for CAA.

Business Recorder [Pakistan's First Financial Daily]

 

[Neo]

Air Blue places $700 million orders for 14 A320-200s ​

KARACHI (November 12 2007): Pakistan's fastest growing private sector carrier, Air Blue, has placed orders worth $700 million for purchase of 14 new A320-200 aircraft. This is the second largest order for outright purchase of brand new aircraft after national carrier PIA's $1.2 billion order placed in 2005 for purchase of eight Boeing aircraft--three 777-ER-200, three 777-ER-300 and two 777-LR-200.

There is, however, a marked difference in the purchase of aircraft by Air Blue and PIA, as the government had to provide sovereign guarantee to the Eximp Bank for the purchase of aircraft by PIA, and the private sector carrier Air Blue provided only Company's guarantee.

Shahid Khaqan Abbasi, Air Blue Chief Executive Officer, told Business Recorder here on Saturday that a formal agreement for the purchase of 14 new A-320-200 would be signed between Airbus Industrie and Air Blue in Dubai on November 13 during the five-day air show, which started on November 11. The Airbus Chairman Industrie would sign the agreement on behalf of the aircraft manufacturer and Shahid Khaqan Abbasi would sign on behalf of Air Blue .

Abbasi left for Dubai late on Saturday afternoon to attend the air show and to sign the agreement.

He said that the first A320-200 aircraft would be delivered in July, 2009, and thereafter one aircraft would be delivered after every three months thus completing the delivery of 14 aircraft by the end of 2012. Following induction of the new aircraft, the Air Blue fleet at present comprising three A-320s and three A-321s, which are on lease, would be returned to the lessor companies.

About the financial health of Air Blue, Abbasi said that from the word 'go', three years back "we have not, for once looked back". Despite the fact that Pakistani carriers, to cover up their failures, have been crying hoarse about the galloping increase in fuel prices, Air Blue, he said, had posted profits year after year in the face of high fuel costs and other expansion expenses.

The annual accounts, which are now being audited, would be announced by the end of next month, Abbasi said, adding that the airline would end up with a profit of around Rs 150 million and a 20 percent return on equity.

He said that Islamabad to Manchester Air Blue flights have proved a roaring success. The seat occupancy, both ways, has been hundred percent, although high season has not yet started, he added.

Similarly, he said, Dubai flights were also doing good business. About future expansion plans, he said that once the new aircraft are inducted into the airline, "we would expand towards West as well as East ie, Europe, Middle East, India, Bangladesh, Malaysia and Thailand would be our future destinations."

Business Recorder [Pakistan's First Financial Daily]

 

[Neo]

Rs 500 billion to be spent on road projects ​

ISLAMABAD (November 12 2007): Over 500 billion rupees will be spent on 129 mega road projects including motorways, expressways and highways under the National Trade Corridor Programme.

The National Highway Authority (NHA) sources told that work on 63 projects costing over 150 billion rupees was in progress, while another 16 projects of over 60 billion rupees are in the final phase of completion, Radio Pakistan reported. Work on Faisalabad-Khanewal section of Motorway will be started soon. The project will be completed within four years at a cost of about 17 billion rupees.

Business Recorder [Pakistan's First Financial Daily]

 

[Neo]

Pakistan, Turkey, Iran ties: Prime Minister underlines progress in transport links ​

ISLAMABAD (November 11 2007): Prime Minister Shaukat Aziz stressed need for progress in establishing transport links between Pakistan, Turkey, Iran through land, air, sea to boost trade and economic activities as these are major drivers for building dependable relations.

He said this while talking to ambassadors of Turkey Engine Soysal and Iran, Mashaalah Shakeri on Saturday in Islamabad. He said Pakistan's relations with Turkey and Iran are based on shared faith, culture, history, geography including people to people contact, which combines to add depth to trilateral ties.

The challenges confronting the region today demand greater unity and solidarity among three countries. Prime Minister emphasised need for early signing of Free Trade Agreement (FTA) to leverage considerable potential of boosting trade, investment opportunities between Pakistan, Iran and Turkey.

He felt existing trade volume between three countries is way below its actual potential, which needs to be increased further through signing of FTA. Ambassadors thanked Prime Minister for his efforts to further promote economic, trade ties and hoped these would further strengthen in future.

Business Recorder [Pakistan's First Financial Daily]

 

[Spring Onion]

ECNEC approves 16 projects worth Rs98 billion



ISLAMABAD: The Executive Committee of the National Economic Council (ECNEC) has approved 16 projects worth about 98 billion rupees covering infrastructure, education, health, energy, environment and other sectors.



Prime Minister Shaukat Aziz who chaired the meeting here on Monday lauded performance of ECNEC during last eight years and said it greatly helped in creating a lot of economic activity, generating millions of jobs.



He noted that in the last eight years the ECNEC held 27 meeting and approved 649 projects worth 2.4 trillion rupees, which is a record in the history of the country. The projects covered all sectors of national activity including 403 projects in infrastructure and 207 in social sectors.



Later, briefing newsmen, Deputy Chairman Planning Commission Dr. Akram Sheikh said the projects approved today included KKH Up-gradation at a cost of about 31 billion rupees. The Chinese funded project envisages upgradation of 335 kilometers of high from Raikot to Khunjerab.


Another important project is doubling of track from Khanewal to Raiwind, Sahiwal, Okara and Kasur district of Punjab at a cost of 8.3 billion rupees.



West Bank Bypass Construction Project in Muzaffarabad city would cost 1.736 billion rupees, he said.



Other important projects cleared by the ECNEC included Development of Forestry Sector Resources for the four provinces at a cost of about 11.5 billion rupees; Strengthening of UET Lahore at a cost of about 6 billion rupees; Ph.D. Fellowship for five thousand scholars at a cost of 6.4 billion rupees; infrastructure development of COMSATS Institute of Information Technology Islamabad at 2.9 billion rupees and strengthening of NED university Karachi at 2.2 billion rupees.

Dr. Akram Sheikh said the emphasis of the Government is on technical training, higher education, national trade corridor and development of energy resources.

He said a core group chaired by Dr. Attaur Rehman has been assigned the task of identifying emerging and new technologies and disciplines to keep pace with the modern day requirements.



He said as part of the national trade corridor project, a deep container terminal is being established at Karachi at one billion dollars besides huge investment in Port Qasim and Gwadar.

He said as a result of economic activities about half a million jobs are being created annually in the country.


Report by Jana