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ADB to support Bhasha dam project
Site for Diamer-Bhasha dam.— INP file photo
ISLAMABAD: The Asian Development Bank (ADB) has said that despite its limited financing capacity it would support the Diamer-Bhasha dam to ‘the extent possible’.
This was a diplomatic message the Asian Development Bank President Takehiko Nakao conveyed to Pakistan during his meeting with President Mamoon Hussain and Finance Minister Ishaq Dar on Tuesday.
The ADB was earlier expected to be the lead financier and consortium leader of the $14 billion Diamer-Bhasha dam project. Wapda’s former chairman Shakil Durrani had told a parliamentary committee about two years ago that the ADB “on at least three occasions has committed to providing up to $4bn”.
The Diamer-Bhasha is an important project for managing water resources in Pakistan and ADB assured of all help.
The matter was taken up during a meeting with the ADB chief by Finance Minister Ishaq Dar who sought support for the country’s top priority project.
“We will need the support of the ADB on the Diamer-Bhasha dam because solving the energy crisis is the top priority of our government,” Mr Dar was quoted in an official statement as telling the visiting ADB chief.
Mr Dar said the World Bank would hold a Business Opportunity Conference in Washington on October 8 and government representatives would discuss the project there.
Mr Nakao said that although the ADB could lend only $1bn to a country for a development project, it would continue supporting Pakistan in projects like renewable energy, Jamshoro coal-fired plant and plans of regional connectivity.
He said his institution supported Turkmenistan-Afghanistan-Pakistan-India (TAPI) pipeline project which was important for Pakistan.
“The Diamer-Bhasha is also an important project for managing water resources in Pakistan and we will help to the extent possible,” he told the finance minister.
Also read: World marketing of Bhasha dam planned
As far as the rehabilitation of Internally Displaced Persons is concerned, the ADB would gladly extend its expertise for the reconstruction work, he said.
Dar said that Pakistan wanted to proceed with the TAPI and CASA 1,000 (Central Asia South Asia electricity import project) for meeting the country’s future energy needs.
The minister said on the economic condition of the country, the government had been following a pro-development macro-economic agenda and improvements could be seen in 16.44 per cent growth in revenue collection, decrease in budget deficit to 5.7pc of GDP, 13.7pc growth in foreign remittances, 4.2pc improvement in large-scale manufacturing output and a 16pc increase in the disbursement of agricultural credit.
The ADB chief was informed that the government had also increased the allocation for social safety net from a mere Rs40bn to Rs118bn over the past 14 months.
He said the government could have added $2.4bn to foreign exchange reserves but recent political situation had delayed three important transactions; the issue of Sukuk, divestment of the OGDCL shares and IMF’s next release but he hoped to resolve the issue amicably because a committee had already been constituted on electoral reforms.
The ADB delegation was also briefed on the damage cause by flood in Punjab, AJK and Gilgit Baltistan.
Mr Nakao said the ADB would like to assist in the rehabilitation process for flood-affected persons.
Hydrocarbons discovered in Hala
Gas flare at Adam West X-1 well.
KARACHI: Pakistan Petroleum Limited (PPL) has announced discovery of hydrocarbons from exploratory well Adam West X-1 in Hala Block.
In order to comply with material information provision in terms of section 15D(1) of the Securities and Exchange Ordinance, 1969 and clause (xx) of the Code of Corporate Governance, the company secretary Saqib Ahmed disclosed: “This is to inform that PPL, operator of Hala Exploration Licence (having 65 per cent working interest) has discovered hydrocarbon from its exploratory well Adam West X-1, located in district Matiari, Sindh”.
The PPL stated that Adam West X-1 well was drilled to test the potential of sands of Lower Goru Formation.
“During testing, the well flowed 18.6 MMscfd gas along with 31 STBbl/d condensate at 32/64inch choke size”, the company secretary said and asserted that Adam West X-1 was the second discovery made by PPL in Hala Block.
Asad I.Siddiqui, Senior Investment Analyst at AKD Securities worked out that the discovery would augment PPL’s bottom-line by Rs594 million, translating into earnings per share (eps) at Re0.30, upon successful commissioning of the project.
Analyst Hassan Amin at brokerage Summit Capital thought that the discovery would have an annualised eps impact of Re0.45 per share on PPL
Pakistani fabrics exhibition in Paris
PARIS: Ambassador of Pakistan to France Ghalib Iqbal (L) visits pavilion and entrepreneur’s stalls at exhibition of Pakistan Fabrics.—INP
ISLAMABAD: The Ambassador of Pakistan to France Ghalib Iqbal has said that Pakistani textile products have great potential of finding more space in European markets.
He was talking to Michal Scherppe, President of Taxworld Fair, being held in Paris. The ambassador visited Pakistani pavilion and Pakistani entrepreneurs’ stalls, according to a message received here from Embassy of Pakistan in Paris.
Iqbal discussed with the exhibitioners prospects of business development in France and assured them of continuation of full support and cooperation from the mission. The exhibitioners told the ambassador that the response of the buyers was encouraging.
This is 35th edition of Taxworld being held in Paris, in which 881 exhibitors are participating from all over the world, including China, Thailand, India, Indonesia, Turkey and Bangladesh. A large number companies are exhibiting their products. There was substantial presence of Pakistani manufacturers and exporters of denim and cotton fabrics.
The Trade Development Authority of Pakistan (TDAP) has arranged national pavilion in the exhibition.
Nine Pakistani companies are participating under the TDAP while others are exhibiting their fabrics on their own. In total, 43 Pakistani companies are participating in the fair.
Lucky to invest Rs27bn in power project
— File photo
KARACHI: The Lucky Cement Limited declared on Tuesday that the company board had approved equity investment of around Rs27 billion to set up a 660MW coal-based power project in Karachi.
“The project will be set up and owned 100pc by the company and equity investment will be made into ‘Lucky Electric Power Company Limited’ (LEPCL),” the directors said. It represented departure from the previous plan of setting up the project through Lucky Holdings Limited, a subsidiary three-quarters owned by the company. Lucky Cement further stated that the power project would be set up with an estimated project cost of $1.08bn and financed in the debt/equity ratio of 75:25.
“The company will be the exclusive sponsor of LEPCL investing an amount of Rs27bn for the project and holding 100pc equity stake in LEPCL, through a 100pc owned subsidiary,” the company reiterated and noted that the implementation of the power project was subject to all necessary regulatory approvals and required consents. The plan to invest $200m in setting up the 660MW coal-based power project in Karachi was first disclosed by the company back on July 16.
The announcement had then come soon after the Nishat Group expressed intentions to set up two 660MW coal power projects in Punjab.
Experts say that to optimise power generation facilities at their plants and keeping in view future opportunities in domestic and export markets, the cement industry has embarked upon ambitious plans to construct Captive Power Plants (CPPs) that are based on coal. Most mills have already switched over to coal as the basic fuel. “Currently, bigger portion of the cement industry’s coal requirement is met through imports from Indonesia and South Africa”, asserted a market watcher.
The news of Lucky deciding to fully own the new coal-based power project was received well by the investors at the stock market on Tuesday where the Lucky stock gained Rs14.54 to close at Rs402.67.
DGK Cement earns Rs6bn profit
DGK Cement Plant.— Photo: DGK Cement facebook page
KARACHI: D.G. Khan Cement (DGKC) posted profit after tax (PAT) at Rs5.965 billion which translated into earning per share (eps) at Rs13.62.
The earnings represented improvement of 8 per cent over the PAT at Rs5.502bn and eps at Rs12.56 the previous year.
The results were accompanied by final cash dividend of Rs3.50 per share, which was higher than Rs3 per share paid last year.
The DG results were thought to be better than consensus market expectations, which gave fillip to both the share price as well as the stock market.
Cement sector analyst Vahaj Ahmed at Topline Securities commented that although net retention prices in FY14 increased by 8pc, per ton cost of sales increased by 12pc mainly due to rise in electricity charges, resulting in gross margins to decline by 3pps. Moreover, dip in distribution expenses by 17pc improved operating income by 5pc to Rs8.4bn.
Additional support to company’s bottom-line was provided from reduced financial charges and higher other income. Financial charges fell by 39pc to Rs609m while higher dividend income from investments resulted in 12pc rise in other income to Rs1.6bn.
Consul general reveals: Swiss airline to consider resuming operations
Swiss Business Council is also planning to have a trade show at the Karachi Airport.
LAHORE:
Swiss International Airlines is considering resuming operations in Pakistan, said Swiss Consul General Emil Wyss during his meeting with high ups of Punjab Board of Investment and Trade (PBIT) along with head of Commercial Section Jordan James Din and Commercial and Administrative Officer Ajwat Arsalan Khan.
He said the Swiss Business Council is also planning to have a trade show at the Karachi Airport where businessmen from both countries will participate.
The delegates were welcomed by the PBIT CEO Mohammad Ilyas Ghauri, director general policy, projects and research and director communication.
A brief presentation on PBIT and Pakistan-Switzerland trade relations was given to the Consul General and his team. It was also proposed that a MoU should be signed to further enhance cooperation between the two organisations. The Swiss Business Council has already planned to introduce Pakistani companies, extending an invitation to PBIT to nominate companies for the delegation.
Hasanabdal-Havelian: $200 million ADB-funded expressway agreements signed
Prime Minister Nawaz Sharif Wednesday witnessed signing of $200 million for the 59-km Hasanabdal-Burhan-Havelian Expressway (E-35) project here at the PM House, to be built with the co-operation of Asian Development Bank. The project, part of the National Trade Corridor, will connect existing M-1 Motorway at Hasanabdal with Havelian and will further extend it to Abbottabad and Mansehra.
The loan agreement was signed by Secretary Economic Affairs Division while the project agreement was signed by Chairman National Highway Authority. From the Bank's side, both the agreements were signed by Country Director ADB Pakistan, Werner Liepach. President ADB Takehiko Nakao was also present on the occasion.
The expressway will be constructed almost parallel to the existing N5 whose many sections have been urbanised. Due to high traffic volume and poor road conditions, construction of E-35 has become necessary to develop inter-provincial linkages to improve sub-regional connectivity within Pakistan.
Proposed project will create a north-south access controlled expressway system to link the northern area of the country to existing motorway network and create better connectivity and linkages with neighbouring countries like China and Afghanistan and Central Asian States. Federal Minister for Finance Ishaq Dar, Secretary Finance and Secretary Communications also witnessed the ceremony. Earlier, President ADB called on the Prime Minister and discussed matters of mutual interest.
Illegal obstruction: Over 1,500 occupants warned to vacate government land
Encroachments being removed along Karakoram Highway in Mansehra. PHOTO: INP
MANSEHRA: To reclaim encroached government land and facilitate an extension of Karakoram Highway, notices were served to 1,500 occupants from Datta Barrier to Chattar Plain on Monday.
Following the identification of encroachment on both sides of the highway by the National Highway Authority (NHA), engineers of Mansehra district council and Mansehra tehsildar, at least 1,500 illegal occupants were issued warnings over the last three months.
The occupants have encroached upon at least two feet to 12 feet of land beyond their properties and constructed cemented structures.
In some areas, entire markets have emerged on government property and the occupants refuse to vacate the land despite warnings.
The obstruction disturbs the flow of traffic and causes accidents. Authorities had earlier demarcated 33 feet on both sides of the highway, said officials of NHA and the district council. Ziauddin, a Mansehra district council engineer, said the government has now decided to clear at least 66 feet to 120 feet of land along the highway from Datta Barrier to Chattar Plain.
During the first phase of action, the anti-encroachment squad, headed by assistant commissioner Dr Qasim Jadoon, demolished the extended portions of over a dozen shops between Datta and the Elementary College stop on Saturday.
While answering a question, Jadoon said authorities want to clear the highway of encroachment within the shortest possible time so work can start to expand the road.
As the main trade route between Pakistan and China, broadening the highway will help with more traffic. Jadoon said the encroachments will be removed without respite or discrimination.
The operation could not continue on Monday because of a mechanical fault in the machinery being used to clear the land. However, some shopkeepers vacated the encroached space voluntarily.
Online security: Pakistani helps Google avoid privacy disaster
While Baloch’s research led to the fixing of the bug, Google disqualified him for any reward for his contribution. DESIGN: ESSA MALIK
KARACHI: A Pakistani security researcher has helped Google fix a major security flaw in its Android operating system for smartphones, protecting the personal data of millions of smartphone users across the world.
Professional penetration tester and author of the book ‘Ethical Hacking and Penetration Testing Guide’, Rafay Baloch identified a major vulnerability in the Android Open Source Platform (AOSP) Browser and reported it to Google on August 13.
The 21-year-old also shared a proof of concept (PoC) for the security bug – which he defined as a Same Origin Policy (SOP) bypass – with the company but the California-based internet giant could not reproduce it for over two weeks, according to his email correspondence with the Android security team.
It was only after August 31, when the young techie released this information on his blog that Android was able to reproduce the bug and released patches for the AOSP Browser. The issue, however, was already picked up by the world’s major technology blogs and publications before the company could fix it.
“Right at the start of September, security researcher Rafay Baloch released details on an Android bug that has now been called a ‘privacy disaster’,” www.forbes.com said in a September 16 report.
The report added that anyone not running the latest release, Android 4.4, is affected. “That means as many as 75% of Android devices and millions of users could be open to attack,” it said quoting Google’s stats; though not all are likely to be using the affected browser, the report said.
The flaw can allow a bypass of the Same Origin Policy (SOP) protection, which is implemented in most browsers, such as Internet Explorer, Mozilla Firefox and Google Chrome, Baloch toldThe Express Tribune.
The SOP “stops malicious code from spilling over from one site to others open on separate tabs,” the Forbes report said.
“It was a really nasty bug. The mere fact that it potentially gives access to private data is a huge problem, after all it’s that data can then be used to commit further crimes against you,” it quoted Professor Alan Woodward, a security expert from the University of Surrey’s computing department, as saying.
This is not the first time Baloch has reported a major security flaw in a global technology company’s software. He has been participating in various bug bounty programmes to help several major internet corporations improve their internet security.
For example, he was rewarded with $10,000 in cash and a job offer from PayPal for finding remote code execution vulnerability along with several other high-risk vulnerabilities inside the online money transfer service.
While Baloch’s research led to the fixing of the AOSP Browser bug, the internet giant disqualified him for any reward or credit for his contribution.
“Android does not currently have a vulnerability rewards programme. Android is covered in the Patch Rewards Programme though,” Josh Armour from Android Security told Baloch, according to the email correspondence between the two. “Given that this [the bug] was published before we had a chance to provide patches, this specific report would not qualify,” Armour wrote to Baloch.
Disappointed with Google’s response, the researcher said he disclosed the bug more than two weeks prior to publishing the same so it was “Google’s fault for not being able to reproduce it.”
“It was a serious security threat and should have been fixed immediately,” he said. “Yes, I can fix this quickly,” the white hat hacker said in response to a question.
The Express Tribune contacted Badar Khushnood, Google’s Country Consultant for Pakistan, but did not receive any response till the filing of this report.
Pakistanis to take part in Istanbul textile event
A small yarn section will also be set up comprising companies from Korea, Switzerland, China and Pakistan. PHOTO: STOCK IMAGE
KARACHI: Thirteen exhibitors from Pakistan will take part in the first edition of the Texworld Istanbul 2014 to be held in Turkey from November 4 to 6, 2014. The Trade Development Authority of Pakistan (TDAP) will have six, while seven individual exhibitors will be at the event.
Exhibitors from Pakistan such as Sapphire, Nishat Mills, Kohinoor Mills and Master Textile Mills will showcase products in the Lutfi Kirdar International Convention and Exhibition Centre.
Texworld Istanbul is an occasion for buyers from Turkey and the surrounding regions to satisfy demand for imported fabrics from leading Asian textile nations.
“The launch of Texworld Istanbul marks a very exciting point in the development of Messe Frankfurt in Turkey,” said Messe Frankfurt Exhibition GmbH’s Board of Management member, Detlef Braun.
The 2014 show is expecting 200 exhibitors from 15 countries, among which the main target countries are China, India, Pakistan, Taiwan, Korea, Vietnam, Bangladesh and Turkey.
Meanwhile, 5,000 attendees from 55 countries, mainly from Turkey and surrounding regions such as South-eastern Europe, the Middle East, the Gulf Countries, North Africa, Central Asia, as well as from Russia and other Eastern European and Asian markets are expected.
A small yarn section is also arranged at the fair which comprises of companies from Korea, Switzerland, China and Pakistan.
Texworld Istanbul will reflect all product groups that are part of all other apparel fabric brand events around the world: cotton and blends, denim, shirting, linen and hemp, wool and wool aspects, embroidery and lace, silk and silky aspects, prints, functional fabrics, knitted fabrics, trims and accessories.
Site for Diamer-Bhasha dam.— INP file photo
ISLAMABAD: The Asian Development Bank (ADB) has said that despite its limited financing capacity it would support the Diamer-Bhasha dam to ‘the extent possible’.
This was a diplomatic message the Asian Development Bank President Takehiko Nakao conveyed to Pakistan during his meeting with President Mamoon Hussain and Finance Minister Ishaq Dar on Tuesday.
The ADB was earlier expected to be the lead financier and consortium leader of the $14 billion Diamer-Bhasha dam project. Wapda’s former chairman Shakil Durrani had told a parliamentary committee about two years ago that the ADB “on at least three occasions has committed to providing up to $4bn”.
The Diamer-Bhasha is an important project for managing water resources in Pakistan and ADB assured of all help.
The matter was taken up during a meeting with the ADB chief by Finance Minister Ishaq Dar who sought support for the country’s top priority project.
“We will need the support of the ADB on the Diamer-Bhasha dam because solving the energy crisis is the top priority of our government,” Mr Dar was quoted in an official statement as telling the visiting ADB chief.
Mr Dar said the World Bank would hold a Business Opportunity Conference in Washington on October 8 and government representatives would discuss the project there.
Mr Nakao said that although the ADB could lend only $1bn to a country for a development project, it would continue supporting Pakistan in projects like renewable energy, Jamshoro coal-fired plant and plans of regional connectivity.
He said his institution supported Turkmenistan-Afghanistan-Pakistan-India (TAPI) pipeline project which was important for Pakistan.
“The Diamer-Bhasha is also an important project for managing water resources in Pakistan and we will help to the extent possible,” he told the finance minister.
Also read: World marketing of Bhasha dam planned
As far as the rehabilitation of Internally Displaced Persons is concerned, the ADB would gladly extend its expertise for the reconstruction work, he said.
Dar said that Pakistan wanted to proceed with the TAPI and CASA 1,000 (Central Asia South Asia electricity import project) for meeting the country’s future energy needs.
The minister said on the economic condition of the country, the government had been following a pro-development macro-economic agenda and improvements could be seen in 16.44 per cent growth in revenue collection, decrease in budget deficit to 5.7pc of GDP, 13.7pc growth in foreign remittances, 4.2pc improvement in large-scale manufacturing output and a 16pc increase in the disbursement of agricultural credit.
The ADB chief was informed that the government had also increased the allocation for social safety net from a mere Rs40bn to Rs118bn over the past 14 months.
He said the government could have added $2.4bn to foreign exchange reserves but recent political situation had delayed three important transactions; the issue of Sukuk, divestment of the OGDCL shares and IMF’s next release but he hoped to resolve the issue amicably because a committee had already been constituted on electoral reforms.
The ADB delegation was also briefed on the damage cause by flood in Punjab, AJK and Gilgit Baltistan.
Mr Nakao said the ADB would like to assist in the rehabilitation process for flood-affected persons.
Hydrocarbons discovered in Hala
Gas flare at Adam West X-1 well.
KARACHI: Pakistan Petroleum Limited (PPL) has announced discovery of hydrocarbons from exploratory well Adam West X-1 in Hala Block.
In order to comply with material information provision in terms of section 15D(1) of the Securities and Exchange Ordinance, 1969 and clause (xx) of the Code of Corporate Governance, the company secretary Saqib Ahmed disclosed: “This is to inform that PPL, operator of Hala Exploration Licence (having 65 per cent working interest) has discovered hydrocarbon from its exploratory well Adam West X-1, located in district Matiari, Sindh”.
The PPL stated that Adam West X-1 well was drilled to test the potential of sands of Lower Goru Formation.
“During testing, the well flowed 18.6 MMscfd gas along with 31 STBbl/d condensate at 32/64inch choke size”, the company secretary said and asserted that Adam West X-1 was the second discovery made by PPL in Hala Block.
Asad I.Siddiqui, Senior Investment Analyst at AKD Securities worked out that the discovery would augment PPL’s bottom-line by Rs594 million, translating into earnings per share (eps) at Re0.30, upon successful commissioning of the project.
Analyst Hassan Amin at brokerage Summit Capital thought that the discovery would have an annualised eps impact of Re0.45 per share on PPL
Pakistani fabrics exhibition in Paris
PARIS: Ambassador of Pakistan to France Ghalib Iqbal (L) visits pavilion and entrepreneur’s stalls at exhibition of Pakistan Fabrics.—INP
ISLAMABAD: The Ambassador of Pakistan to France Ghalib Iqbal has said that Pakistani textile products have great potential of finding more space in European markets.
He was talking to Michal Scherppe, President of Taxworld Fair, being held in Paris. The ambassador visited Pakistani pavilion and Pakistani entrepreneurs’ stalls, according to a message received here from Embassy of Pakistan in Paris.
Iqbal discussed with the exhibitioners prospects of business development in France and assured them of continuation of full support and cooperation from the mission. The exhibitioners told the ambassador that the response of the buyers was encouraging.
This is 35th edition of Taxworld being held in Paris, in which 881 exhibitors are participating from all over the world, including China, Thailand, India, Indonesia, Turkey and Bangladesh. A large number companies are exhibiting their products. There was substantial presence of Pakistani manufacturers and exporters of denim and cotton fabrics.
The Trade Development Authority of Pakistan (TDAP) has arranged national pavilion in the exhibition.
Nine Pakistani companies are participating under the TDAP while others are exhibiting their fabrics on their own. In total, 43 Pakistani companies are participating in the fair.
Lucky to invest Rs27bn in power project
— File photo
KARACHI: The Lucky Cement Limited declared on Tuesday that the company board had approved equity investment of around Rs27 billion to set up a 660MW coal-based power project in Karachi.
“The project will be set up and owned 100pc by the company and equity investment will be made into ‘Lucky Electric Power Company Limited’ (LEPCL),” the directors said. It represented departure from the previous plan of setting up the project through Lucky Holdings Limited, a subsidiary three-quarters owned by the company. Lucky Cement further stated that the power project would be set up with an estimated project cost of $1.08bn and financed in the debt/equity ratio of 75:25.
“The company will be the exclusive sponsor of LEPCL investing an amount of Rs27bn for the project and holding 100pc equity stake in LEPCL, through a 100pc owned subsidiary,” the company reiterated and noted that the implementation of the power project was subject to all necessary regulatory approvals and required consents. The plan to invest $200m in setting up the 660MW coal-based power project in Karachi was first disclosed by the company back on July 16.
The announcement had then come soon after the Nishat Group expressed intentions to set up two 660MW coal power projects in Punjab.
Experts say that to optimise power generation facilities at their plants and keeping in view future opportunities in domestic and export markets, the cement industry has embarked upon ambitious plans to construct Captive Power Plants (CPPs) that are based on coal. Most mills have already switched over to coal as the basic fuel. “Currently, bigger portion of the cement industry’s coal requirement is met through imports from Indonesia and South Africa”, asserted a market watcher.
The news of Lucky deciding to fully own the new coal-based power project was received well by the investors at the stock market on Tuesday where the Lucky stock gained Rs14.54 to close at Rs402.67.
DGK Cement earns Rs6bn profit
DGK Cement Plant.— Photo: DGK Cement facebook page
KARACHI: D.G. Khan Cement (DGKC) posted profit after tax (PAT) at Rs5.965 billion which translated into earning per share (eps) at Rs13.62.
The earnings represented improvement of 8 per cent over the PAT at Rs5.502bn and eps at Rs12.56 the previous year.
The results were accompanied by final cash dividend of Rs3.50 per share, which was higher than Rs3 per share paid last year.
The DG results were thought to be better than consensus market expectations, which gave fillip to both the share price as well as the stock market.
Cement sector analyst Vahaj Ahmed at Topline Securities commented that although net retention prices in FY14 increased by 8pc, per ton cost of sales increased by 12pc mainly due to rise in electricity charges, resulting in gross margins to decline by 3pps. Moreover, dip in distribution expenses by 17pc improved operating income by 5pc to Rs8.4bn.
Additional support to company’s bottom-line was provided from reduced financial charges and higher other income. Financial charges fell by 39pc to Rs609m while higher dividend income from investments resulted in 12pc rise in other income to Rs1.6bn.
Consul general reveals: Swiss airline to consider resuming operations
Swiss Business Council is also planning to have a trade show at the Karachi Airport.
LAHORE:
Swiss International Airlines is considering resuming operations in Pakistan, said Swiss Consul General Emil Wyss during his meeting with high ups of Punjab Board of Investment and Trade (PBIT) along with head of Commercial Section Jordan James Din and Commercial and Administrative Officer Ajwat Arsalan Khan.
He said the Swiss Business Council is also planning to have a trade show at the Karachi Airport where businessmen from both countries will participate.
The delegates were welcomed by the PBIT CEO Mohammad Ilyas Ghauri, director general policy, projects and research and director communication.
A brief presentation on PBIT and Pakistan-Switzerland trade relations was given to the Consul General and his team. It was also proposed that a MoU should be signed to further enhance cooperation between the two organisations. The Swiss Business Council has already planned to introduce Pakistani companies, extending an invitation to PBIT to nominate companies for the delegation.
Hasanabdal-Havelian: $200 million ADB-funded expressway agreements signed
The loan agreement was signed by Secretary Economic Affairs Division while the project agreement was signed by Chairman National Highway Authority. From the Bank's side, both the agreements were signed by Country Director ADB Pakistan, Werner Liepach. President ADB Takehiko Nakao was also present on the occasion.
The expressway will be constructed almost parallel to the existing N5 whose many sections have been urbanised. Due to high traffic volume and poor road conditions, construction of E-35 has become necessary to develop inter-provincial linkages to improve sub-regional connectivity within Pakistan.
Proposed project will create a north-south access controlled expressway system to link the northern area of the country to existing motorway network and create better connectivity and linkages with neighbouring countries like China and Afghanistan and Central Asian States. Federal Minister for Finance Ishaq Dar, Secretary Finance and Secretary Communications also witnessed the ceremony. Earlier, President ADB called on the Prime Minister and discussed matters of mutual interest.
Illegal obstruction: Over 1,500 occupants warned to vacate government land
Encroachments being removed along Karakoram Highway in Mansehra. PHOTO: INP
MANSEHRA: To reclaim encroached government land and facilitate an extension of Karakoram Highway, notices were served to 1,500 occupants from Datta Barrier to Chattar Plain on Monday.
Following the identification of encroachment on both sides of the highway by the National Highway Authority (NHA), engineers of Mansehra district council and Mansehra tehsildar, at least 1,500 illegal occupants were issued warnings over the last three months.
The occupants have encroached upon at least two feet to 12 feet of land beyond their properties and constructed cemented structures.
In some areas, entire markets have emerged on government property and the occupants refuse to vacate the land despite warnings.
The obstruction disturbs the flow of traffic and causes accidents. Authorities had earlier demarcated 33 feet on both sides of the highway, said officials of NHA and the district council. Ziauddin, a Mansehra district council engineer, said the government has now decided to clear at least 66 feet to 120 feet of land along the highway from Datta Barrier to Chattar Plain.
During the first phase of action, the anti-encroachment squad, headed by assistant commissioner Dr Qasim Jadoon, demolished the extended portions of over a dozen shops between Datta and the Elementary College stop on Saturday.
While answering a question, Jadoon said authorities want to clear the highway of encroachment within the shortest possible time so work can start to expand the road.
As the main trade route between Pakistan and China, broadening the highway will help with more traffic. Jadoon said the encroachments will be removed without respite or discrimination.
The operation could not continue on Monday because of a mechanical fault in the machinery being used to clear the land. However, some shopkeepers vacated the encroached space voluntarily.
Online security: Pakistani helps Google avoid privacy disaster
While Baloch’s research led to the fixing of the bug, Google disqualified him for any reward for his contribution. DESIGN: ESSA MALIK
KARACHI: A Pakistani security researcher has helped Google fix a major security flaw in its Android operating system for smartphones, protecting the personal data of millions of smartphone users across the world.
Professional penetration tester and author of the book ‘Ethical Hacking and Penetration Testing Guide’, Rafay Baloch identified a major vulnerability in the Android Open Source Platform (AOSP) Browser and reported it to Google on August 13.
The 21-year-old also shared a proof of concept (PoC) for the security bug – which he defined as a Same Origin Policy (SOP) bypass – with the company but the California-based internet giant could not reproduce it for over two weeks, according to his email correspondence with the Android security team.
It was only after August 31, when the young techie released this information on his blog that Android was able to reproduce the bug and released patches for the AOSP Browser. The issue, however, was already picked up by the world’s major technology blogs and publications before the company could fix it.
“Right at the start of September, security researcher Rafay Baloch released details on an Android bug that has now been called a ‘privacy disaster’,” www.forbes.com said in a September 16 report.
The report added that anyone not running the latest release, Android 4.4, is affected. “That means as many as 75% of Android devices and millions of users could be open to attack,” it said quoting Google’s stats; though not all are likely to be using the affected browser, the report said.
The flaw can allow a bypass of the Same Origin Policy (SOP) protection, which is implemented in most browsers, such as Internet Explorer, Mozilla Firefox and Google Chrome, Baloch toldThe Express Tribune.
The SOP “stops malicious code from spilling over from one site to others open on separate tabs,” the Forbes report said.
“It was a really nasty bug. The mere fact that it potentially gives access to private data is a huge problem, after all it’s that data can then be used to commit further crimes against you,” it quoted Professor Alan Woodward, a security expert from the University of Surrey’s computing department, as saying.
This is not the first time Baloch has reported a major security flaw in a global technology company’s software. He has been participating in various bug bounty programmes to help several major internet corporations improve their internet security.
For example, he was rewarded with $10,000 in cash and a job offer from PayPal for finding remote code execution vulnerability along with several other high-risk vulnerabilities inside the online money transfer service.
While Baloch’s research led to the fixing of the AOSP Browser bug, the internet giant disqualified him for any reward or credit for his contribution.
“Android does not currently have a vulnerability rewards programme. Android is covered in the Patch Rewards Programme though,” Josh Armour from Android Security told Baloch, according to the email correspondence between the two. “Given that this [the bug] was published before we had a chance to provide patches, this specific report would not qualify,” Armour wrote to Baloch.
Disappointed with Google’s response, the researcher said he disclosed the bug more than two weeks prior to publishing the same so it was “Google’s fault for not being able to reproduce it.”
“It was a serious security threat and should have been fixed immediately,” he said. “Yes, I can fix this quickly,” the white hat hacker said in response to a question.
The Express Tribune contacted Badar Khushnood, Google’s Country Consultant for Pakistan, but did not receive any response till the filing of this report.
Pakistanis to take part in Istanbul textile event
A small yarn section will also be set up comprising companies from Korea, Switzerland, China and Pakistan. PHOTO: STOCK IMAGE
KARACHI: Thirteen exhibitors from Pakistan will take part in the first edition of the Texworld Istanbul 2014 to be held in Turkey from November 4 to 6, 2014. The Trade Development Authority of Pakistan (TDAP) will have six, while seven individual exhibitors will be at the event.
Exhibitors from Pakistan such as Sapphire, Nishat Mills, Kohinoor Mills and Master Textile Mills will showcase products in the Lutfi Kirdar International Convention and Exhibition Centre.
Texworld Istanbul is an occasion for buyers from Turkey and the surrounding regions to satisfy demand for imported fabrics from leading Asian textile nations.
“The launch of Texworld Istanbul marks a very exciting point in the development of Messe Frankfurt in Turkey,” said Messe Frankfurt Exhibition GmbH’s Board of Management member, Detlef Braun.
The 2014 show is expecting 200 exhibitors from 15 countries, among which the main target countries are China, India, Pakistan, Taiwan, Korea, Vietnam, Bangladesh and Turkey.
Meanwhile, 5,000 attendees from 55 countries, mainly from Turkey and surrounding regions such as South-eastern Europe, the Middle East, the Gulf Countries, North Africa, Central Asia, as well as from Russia and other Eastern European and Asian markets are expected.
A small yarn section is also arranged at the fair which comprises of companies from Korea, Switzerland, China and Pakistan.
Texworld Istanbul will reflect all product groups that are part of all other apparel fabric brand events around the world: cotton and blends, denim, shirting, linen and hemp, wool and wool aspects, embroidery and lace, silk and silky aspects, prints, functional fabrics, knitted fabrics, trims and accessories.
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Pakistan to join the CERN club
CERN Labs on the Swiss-French border. — File Photo
ISLAMABAD: Pakistan is a signing ceremony away from becoming the associate member of the European Organisation for Nuclear Research (CERN).
The associate membership to the world’s top most particle physics will open the doors to science experiments and enable the country to participate in bids for contracts.
In a statement on Friday, the National Centre for Physics (NCP) said the CERN council at its meeting on September 18 had unanimously approved the application of Pakistan for the associate membership.
“The only remaining practical step towards the associate membership is the signing of an official document which will be done during the visit of the director general CERN to Pakistan, which is expected in the last quarter of this year. The application from Pakistan for the associate membership was submitted in February, 2013,” said a spokesman for the NCP.
The CERN members include 21 countries mostly from Europe. It has three associate members and five observer states.
In February this year, a four-member CERN technical team led by its director for research and scientific computing, Dr Sergio Bertolucci, visited Pakistan as part of the evaluation process for the associate membership.
The status of an associate member is also the pre-stage to full membership. The NCP said as an associate member Pakistan would be entitled to attend open and restricted sessions of the CERN Council, the topmost decision making body.
After becoming the associate member, there were numerous benefits including staff positions for scientists and engineers, access to various educational programmes (summer student, doctoral student and technical student) and engineering contracts for Pakistani industry. It would also help in technology transfer in key areas of accelerator technology, radiofrequency technology, development of magnets and ion-beam optics, cryogenics.
According to the spokesman, the associate membership would also open the doors of mega science experiments for Pakistani scientists besides allowing Pakistani industry to participate in bids for CERN contracts across various sectors.
Pakistani companies would be able to cater to the organisation’s demands individually by picking up tenders advertised by CERN for the growth of the industry and economy.
The spokesman explained how Pakistan was already contributing to CERN projects, including designing detection technology and providing personal support for the LHC’s maintenance.
High-energy physicists and engineers from Pakistan mainly from the Pakistan Atomic Energy Commission (PAEC), NUST, CIIT, GIKI, the QAU and the National Centre for Physics (NCP) have been participating in experiments at CERN since 1994. The physics group from the NCP joined the CMS experiment in 1999 contributing hardware for this experiment and manufacturing of RPC indigenously.
BALOCHISTAN: Upgradation, widening and reconstruction of 447.60 km long 4-lane highway (Surab - Basima - Nag - Panjgur - Hoshab) with 16 bridges and 1557 culverts
Fruits and vegetables: Russian officials agree to support Pakistan’s exports
A group of 20 exporters went to Russia this week to participate in the ‘World Food Moscow’. PHOTO: STOCK IMAGE
KARACHI: Pakistani fruit and vegetable exporters have announced that Russian quarantine officials have agreed to support their companies in an attempt to increase exports to the country.
This was stated by the exporters after they returned from an exhibition in Russia.
Both parties also agreed to sign a Memorandum of Understanding (MoU) to help keep track of their activities, while the Russian government official also said that a visit to inspect facilities in Pakistan would also be made.
A group of 20 exporters went to Russia this week to participate in the 23rd ‘World Food Moscow’, Russia’s premier international exhibition for the food and drink industry, where participants from 70 countries took part.
“We informed the Russian officials about the progress Pakistan had made in improving the quality of its fresh food exports to the European Union (EU),” said PFVA Co-Chairman Waheed Ahmed. “They were also informed how Pakistan Fruits and Vegetables Association (PFVA) successfully avoided the looming ban from the EU on fruit and vegetables exports. “Now that they have seen that Pakistan is following the protocol to increase its fresh food exports, they will visit to explain local companies about the Russian quality requirements.”
Shedding more light on the MoU, Waheed said it would help Pakistani exporters resolve export-related issues promptly and pave the way for a greater share in the Russian market where doors have been closed for the EU, US, Australia and Canada.
“Improved trade relations with Russia would also benefit the whole chain including farmers, traders and definitely exporters,” Waheed said.
A delegation, led by Waheed, also had a fruitful meeting with the Russian Federal Service for Veterinary and Phytosanitary Surveillance (Rossellkhoznadzor) Head Alexander Isayev.
According to fruit and vegetable exporters, lack of understanding and collaboration between Russia and Pakistan on quarantine protocols has often created problems for Pakistani exporters. Despite huge potential, Pakistani exporters have been unable to overcome their shortcomings.
Pakistan’s noticeable exports to Russia are kinnow (mandarin) and potato while some other fruits and vegetables are also sent to Russia but in small quantities.
CERN Labs on the Swiss-French border. — File Photo
ISLAMABAD: Pakistan is a signing ceremony away from becoming the associate member of the European Organisation for Nuclear Research (CERN).
The associate membership to the world’s top most particle physics will open the doors to science experiments and enable the country to participate in bids for contracts.
In a statement on Friday, the National Centre for Physics (NCP) said the CERN council at its meeting on September 18 had unanimously approved the application of Pakistan for the associate membership.
“The only remaining practical step towards the associate membership is the signing of an official document which will be done during the visit of the director general CERN to Pakistan, which is expected in the last quarter of this year. The application from Pakistan for the associate membership was submitted in February, 2013,” said a spokesman for the NCP.
The CERN members include 21 countries mostly from Europe. It has three associate members and five observer states.
In February this year, a four-member CERN technical team led by its director for research and scientific computing, Dr Sergio Bertolucci, visited Pakistan as part of the evaluation process for the associate membership.
The status of an associate member is also the pre-stage to full membership. The NCP said as an associate member Pakistan would be entitled to attend open and restricted sessions of the CERN Council, the topmost decision making body.
After becoming the associate member, there were numerous benefits including staff positions for scientists and engineers, access to various educational programmes (summer student, doctoral student and technical student) and engineering contracts for Pakistani industry. It would also help in technology transfer in key areas of accelerator technology, radiofrequency technology, development of magnets and ion-beam optics, cryogenics.
According to the spokesman, the associate membership would also open the doors of mega science experiments for Pakistani scientists besides allowing Pakistani industry to participate in bids for CERN contracts across various sectors.
Pakistani companies would be able to cater to the organisation’s demands individually by picking up tenders advertised by CERN for the growth of the industry and economy.
The spokesman explained how Pakistan was already contributing to CERN projects, including designing detection technology and providing personal support for the LHC’s maintenance.
High-energy physicists and engineers from Pakistan mainly from the Pakistan Atomic Energy Commission (PAEC), NUST, CIIT, GIKI, the QAU and the National Centre for Physics (NCP) have been participating in experiments at CERN since 1994. The physics group from the NCP joined the CMS experiment in 1999 contributing hardware for this experiment and manufacturing of RPC indigenously.
BALOCHISTAN: Upgradation, widening and reconstruction of 447.60 km long 4-lane highway (Surab - Basima - Nag - Panjgur - Hoshab) with 16 bridges and 1557 culverts
Fruits and vegetables: Russian officials agree to support Pakistan’s exports
A group of 20 exporters went to Russia this week to participate in the ‘World Food Moscow’. PHOTO: STOCK IMAGE
KARACHI: Pakistani fruit and vegetable exporters have announced that Russian quarantine officials have agreed to support their companies in an attempt to increase exports to the country.
This was stated by the exporters after they returned from an exhibition in Russia.
Both parties also agreed to sign a Memorandum of Understanding (MoU) to help keep track of their activities, while the Russian government official also said that a visit to inspect facilities in Pakistan would also be made.
A group of 20 exporters went to Russia this week to participate in the 23rd ‘World Food Moscow’, Russia’s premier international exhibition for the food and drink industry, where participants from 70 countries took part.
“We informed the Russian officials about the progress Pakistan had made in improving the quality of its fresh food exports to the European Union (EU),” said PFVA Co-Chairman Waheed Ahmed. “They were also informed how Pakistan Fruits and Vegetables Association (PFVA) successfully avoided the looming ban from the EU on fruit and vegetables exports. “Now that they have seen that Pakistan is following the protocol to increase its fresh food exports, they will visit to explain local companies about the Russian quality requirements.”
Shedding more light on the MoU, Waheed said it would help Pakistani exporters resolve export-related issues promptly and pave the way for a greater share in the Russian market where doors have been closed for the EU, US, Australia and Canada.
“Improved trade relations with Russia would also benefit the whole chain including farmers, traders and definitely exporters,” Waheed said.
A delegation, led by Waheed, also had a fruitful meeting with the Russian Federal Service for Veterinary and Phytosanitary Surveillance (Rossellkhoznadzor) Head Alexander Isayev.
According to fruit and vegetable exporters, lack of understanding and collaboration between Russia and Pakistan on quarantine protocols has often created problems for Pakistani exporters. Despite huge potential, Pakistani exporters have been unable to overcome their shortcomings.
Pakistan’s noticeable exports to Russia are kinnow (mandarin) and potato while some other fruits and vegetables are also sent to Russia but in small quantities.
Sulman Badshah
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Sulman Badshah
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KARACHI: Render of the new Sindh Government Secretariat
Sulman Badshah
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E-Commerce: IT-intensive logistics provider sees room to expand
70% of e-commerce is based on cash in China and Pakistan has a similar trend where most of the online shopping is done in cash. PHOTO: STOCK IMAGE
KARACHI:
There is every reason for Imran Baxamoosa to think big about his business. A few years ago, he along with few other like-minded individuals started a company that helps connect customers with vendors like Liberty Books.
Now as people spend more time online – thanks to spreading mobile phone coverage – he sees previously unimaginable opportunities.
“It took a couple of years for the buyers to use e-commerce,” says Baxamoosa, CEO of BlueEx. “Pakistan is still in the transitional phase. So this online shopping trend will set in slowly.”
BlueEx, an IT-intensive logistics provider, took inspiration from the food delivery model. “We improvised on that, helping sellers like a clothing vendor from Zamzama to reach a broader clientele in another city,” says Baxamoosa.
A company that started with just four entrepreneurs, BlueEx now employs 500 people, most of them associated with operations side of the business.
Improvising on the peculiarities of the domestic market has been a key for the company, he says. “For us, e-commerce has a broad meaning. It’s a transaction that involves online booking, telephone orders and cash-on-delivery.”
But anyone having the slightest idea of how the logistics and distribution business works, would know that controlling costs could be a particular challenge, especially when products have to be moved around the country.
While some large logistics companies have finances to support warehouses at strategic locations like airports, BlueEx and some others are relying on IT solutions to keep the cost down.
“It’s a mix of call centre, IT infrastructure and in-house solutions that help us cut the cost,” Baxamoosa says. “For instance, the vendor doesn’t need to call us to tell where the product has to be delivered. As soon as people provide the input, the system does the calculation.”
The company does keep inventories, spreading them over different stations, depending on the nature of the product.
Baxamoosa says the most important outcome of e-commerce penetration has been the opportunities provided to small-sized entrepreneurs. “Women who used to make clothes at home didn’t have a wide market. We helped them reach a large customer base by building websites for them.”
This is the side of the business, which offers vast potential for growth, he says. “The future of e-commerce lies in international penetration. Imagine how much Pakistan’s economy will benefit when someone from here can easily sell a product to someone in Australia.”
Even though e-commerce in Pakistan mostly banks on cash-based transactions, Baxamoosa says that wouldn’t hamper growth in any way.
“This is a cultural problem in this region. Interestingly, 70% of the online deliveries in China involve cash. So instead of getting bogged down, we should use this to our advantage,” he said.
E-Commerce: Making inroads before roads are built
Giants eyeing huge market segment in rural areas. PHOTO: STOCK IMAGE
LAHORE:
The fact that most of Pakistan’s population is concentrated in rural areas makes that particular market segment crucial to the growth of e-commerce.
Major players state that they have witnessed high growth that is likely to continue — at least for now. But, like any industry, the room for growth would remain limited if e-commerce services remain restricted to urban centres. Its true potential lies in the rural areas where there is an absence of shopping malls.
And this is what some players are now focusing on.
An overwhelming response from semi-urban and rural areas is helping these portals to simultaneously shift their paradigm to such areas as part of their future growth strategy. Some leading portals are using all possible measures to address issues faced while delivering orders in rural areas.
“The positive response from second-tier and other rural areas forced us to streamline issues including logistics and mode of payment,” said Kaymu.pk’s Regional Managing Director Asia Ahmad Khan.
The main mode of payment in these areas remains cash on delivery, which is the model portals follow in urban centres as well. However, some of them are also engaging cellular mobile operators (CMO) to facilitate rural customers as they are better-versed with this kind of method. The International Monetary Fund’s survey already revealed Pakistanis’ financial access remains limited.
This level of engagement with CMOs not only facilitates customers in rural areas but also benefits the online portals in sorting out, to some extent, their cash flow problem. In addition, some groups like Rocket Internet are also in the process of introducing their own payment solutions to further facilitate masses.
But like any other model, this penetration depends on the company itself. The major beneficiaries continue to be shopping portals that provide a wide array of items, ranging from apparel to electronics.
Khan said that the penetration in rural areas is likely to be higher with increasing awareness.
It is tough to find a consolidated figure of how many online portals have penetrated into rural areas. However, Kaymu.pk says that 29% of their orders are placed by customers in rural areas including areas in Sindh, Punjab, Azad Kashmir. On the other hand, Daraz.pk says that around 48% of their orders are from second-tier cities or other rural areas in the country.
A potential market that is yet to make inroads is the food delivery market. Due to obvious reasons, they are yet to gain popularity.
Real estate portals have just recently entered this market segment and it would take a while for them to make their presence felt.
“It would be a few years before these second tier cities shifted from the conventional mode to the online mode,” said Zeeshan Ali Khan, co-founder and chief executive officer at zameen.com. “These markets are less educated and we have to educate them as we did in mega cities.”
Industry experts now believe that the booming period has started with rural Pakistan due to play a huge role.
70% of e-commerce is based on cash in China and Pakistan has a similar trend where most of the online shopping is done in cash. PHOTO: STOCK IMAGE
KARACHI:
There is every reason for Imran Baxamoosa to think big about his business. A few years ago, he along with few other like-minded individuals started a company that helps connect customers with vendors like Liberty Books.
Now as people spend more time online – thanks to spreading mobile phone coverage – he sees previously unimaginable opportunities.
“It took a couple of years for the buyers to use e-commerce,” says Baxamoosa, CEO of BlueEx. “Pakistan is still in the transitional phase. So this online shopping trend will set in slowly.”
BlueEx, an IT-intensive logistics provider, took inspiration from the food delivery model. “We improvised on that, helping sellers like a clothing vendor from Zamzama to reach a broader clientele in another city,” says Baxamoosa.
A company that started with just four entrepreneurs, BlueEx now employs 500 people, most of them associated with operations side of the business.
Improvising on the peculiarities of the domestic market has been a key for the company, he says. “For us, e-commerce has a broad meaning. It’s a transaction that involves online booking, telephone orders and cash-on-delivery.”
But anyone having the slightest idea of how the logistics and distribution business works, would know that controlling costs could be a particular challenge, especially when products have to be moved around the country.
While some large logistics companies have finances to support warehouses at strategic locations like airports, BlueEx and some others are relying on IT solutions to keep the cost down.
“It’s a mix of call centre, IT infrastructure and in-house solutions that help us cut the cost,” Baxamoosa says. “For instance, the vendor doesn’t need to call us to tell where the product has to be delivered. As soon as people provide the input, the system does the calculation.”
The company does keep inventories, spreading them over different stations, depending on the nature of the product.
Baxamoosa says the most important outcome of e-commerce penetration has been the opportunities provided to small-sized entrepreneurs. “Women who used to make clothes at home didn’t have a wide market. We helped them reach a large customer base by building websites for them.”
This is the side of the business, which offers vast potential for growth, he says. “The future of e-commerce lies in international penetration. Imagine how much Pakistan’s economy will benefit when someone from here can easily sell a product to someone in Australia.”
Even though e-commerce in Pakistan mostly banks on cash-based transactions, Baxamoosa says that wouldn’t hamper growth in any way.
“This is a cultural problem in this region. Interestingly, 70% of the online deliveries in China involve cash. So instead of getting bogged down, we should use this to our advantage,” he said.
E-Commerce: Making inroads before roads are built
Giants eyeing huge market segment in rural areas. PHOTO: STOCK IMAGE
LAHORE:
The fact that most of Pakistan’s population is concentrated in rural areas makes that particular market segment crucial to the growth of e-commerce.
Major players state that they have witnessed high growth that is likely to continue — at least for now. But, like any industry, the room for growth would remain limited if e-commerce services remain restricted to urban centres. Its true potential lies in the rural areas where there is an absence of shopping malls.
And this is what some players are now focusing on.
An overwhelming response from semi-urban and rural areas is helping these portals to simultaneously shift their paradigm to such areas as part of their future growth strategy. Some leading portals are using all possible measures to address issues faced while delivering orders in rural areas.
“The positive response from second-tier and other rural areas forced us to streamline issues including logistics and mode of payment,” said Kaymu.pk’s Regional Managing Director Asia Ahmad Khan.
The main mode of payment in these areas remains cash on delivery, which is the model portals follow in urban centres as well. However, some of them are also engaging cellular mobile operators (CMO) to facilitate rural customers as they are better-versed with this kind of method. The International Monetary Fund’s survey already revealed Pakistanis’ financial access remains limited.
This level of engagement with CMOs not only facilitates customers in rural areas but also benefits the online portals in sorting out, to some extent, their cash flow problem. In addition, some groups like Rocket Internet are also in the process of introducing their own payment solutions to further facilitate masses.
But like any other model, this penetration depends on the company itself. The major beneficiaries continue to be shopping portals that provide a wide array of items, ranging from apparel to electronics.
Khan said that the penetration in rural areas is likely to be higher with increasing awareness.
It is tough to find a consolidated figure of how many online portals have penetrated into rural areas. However, Kaymu.pk says that 29% of their orders are placed by customers in rural areas including areas in Sindh, Punjab, Azad Kashmir. On the other hand, Daraz.pk says that around 48% of their orders are from second-tier cities or other rural areas in the country.
A potential market that is yet to make inroads is the food delivery market. Due to obvious reasons, they are yet to gain popularity.
Real estate portals have just recently entered this market segment and it would take a while for them to make their presence felt.
“It would be a few years before these second tier cities shifted from the conventional mode to the online mode,” said Zeeshan Ali Khan, co-founder and chief executive officer at zameen.com. “These markets are less educated and we have to educate them as we did in mega cities.”
Industry experts now believe that the booming period has started with rural Pakistan due to play a huge role.
Sulman Badshah
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Pakistan Railways Subak Kharam Express (Lahore-Rawalpindi-Lahore). AC Parlour - Super Deluxe - Fare: Rs.840
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SNGPL to Provide Infrastructure for 500 Million LNG to CNG Stations all over in Pakistan
Federal Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi has said that consumption of liquefied natural gas (LNG) in the compressed natural gas (CNG) industry will prove to be a game changer as it will save $2.5 billion per annum in oil imports and ensure employment to about one million people.
Speaking at a press conference along with All Pakistan CNG Association supreme council Chairman Ghayas Paracha here on Monday, Abbasi said gas utilities – Sui Northern Gas Pipelines Limited and Sui Southern Gas Company – would provide infrastructure for transporting 500 million cubic feet of LNG per day (mmcfd) to CNG filling stations.
“Gas supply to CNG stations will be for seven days a week and CNG will be 30% to 35% cheaper than petrol,” he said, stressing Pakistan had a wide infrastructure network in place for CNG pumps and provision of LNG would lead to consumption of clean energy in the country.
He pointed out that CNG stations had provided jobs to 500,000 to 700,000 people and the number would go up to one million following revival of the industry on the back of LNG injection.
“The private sector will import LNG worth billions of dollars and 250 to 300 mmcfd will be left after its supply to CNG stations. This saved gas will be provided to power or fertiliser plants,” he said.
The private sector would also bear the impact of unaccounted-for-gas (UFG), he added, referring to gas theft and leakage.
The country can transport 500 mmcfd of LNG by using the current transmission infrastructure of gas utilities, but additional infrastructure will be developed to handle more LNG supplies.
The minister made it clear that LNG price would depend on market forces, ruling out any role for the Oil and Gas Regulatory Authority (Ogra) in that regard.
However, he said, it would be 30% to 35% cheaper than petrol and the government would give tax relief to make it affordable for the consumers. It will take 18 months to induct LNG into the CNG industry.
All Pakistan CNG Association Chairman Ghayas Paracha claimed that the CNG industry’s worth would jump from Rs450 billion to Rs600 billion after LNG supply to the filling stations.
“The number of CNG-powered vehicles will reach 4.5 million compared to existing 3.7 million and consumers will be able to save Rs12,000 per month in the wake of continuous LNG supply,” he said.
Federal Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi has said that consumption of liquefied natural gas (LNG) in the compressed natural gas (CNG) industry will prove to be a game changer as it will save $2.5 billion per annum in oil imports and ensure employment to about one million people.
Speaking at a press conference along with All Pakistan CNG Association supreme council Chairman Ghayas Paracha here on Monday, Abbasi said gas utilities – Sui Northern Gas Pipelines Limited and Sui Southern Gas Company – would provide infrastructure for transporting 500 million cubic feet of LNG per day (mmcfd) to CNG filling stations.
“Gas supply to CNG stations will be for seven days a week and CNG will be 30% to 35% cheaper than petrol,” he said, stressing Pakistan had a wide infrastructure network in place for CNG pumps and provision of LNG would lead to consumption of clean energy in the country.
He pointed out that CNG stations had provided jobs to 500,000 to 700,000 people and the number would go up to one million following revival of the industry on the back of LNG injection.
“The private sector will import LNG worth billions of dollars and 250 to 300 mmcfd will be left after its supply to CNG stations. This saved gas will be provided to power or fertiliser plants,” he said.
The private sector would also bear the impact of unaccounted-for-gas (UFG), he added, referring to gas theft and leakage.
The country can transport 500 mmcfd of LNG by using the current transmission infrastructure of gas utilities, but additional infrastructure will be developed to handle more LNG supplies.
The minister made it clear that LNG price would depend on market forces, ruling out any role for the Oil and Gas Regulatory Authority (Ogra) in that regard.
However, he said, it would be 30% to 35% cheaper than petrol and the government would give tax relief to make it affordable for the consumers. It will take 18 months to induct LNG into the CNG industry.
All Pakistan CNG Association Chairman Ghayas Paracha claimed that the CNG industry’s worth would jump from Rs450 billion to Rs600 billion after LNG supply to the filling stations.
“The number of CNG-powered vehicles will reach 4.5 million compared to existing 3.7 million and consumers will be able to save Rs12,000 per month in the wake of continuous LNG supply,” he said.
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Bahria Opal, Karachi
Bakht Tower, Karachi
Credit: @MWAhmed
Bahria Town Tower, Karachi
6 Under-construction apartment buildings, Karachi
47 Story Residential Project, Karachi
47-storeyed building approved
KarachiA plan for the construction of a ground-plus-47-storeyed residential building in Civil Lines was approved on Tuesday.
The decision was taken during the Sindh Density Development Board’s meeting, presided over by Chief Minister Qaim Ali Shah, at the CM House.
The plan was approved with the condition that the building would not pose any kind of security threat to the adjacent buildings. The building with double basement and a helipad at the rooftop will be executed by a private company. The ground floor will be used for commercial purposes, while the double basement and the first five floors will be used for parking.
The sixth floor will be used for entertainment and recreational activities, while the rest of the floors will be used for residential purposes.
Sindh Building Control Authority Director General Manzoor Qadir and architect Akbar Jameel briefed the meeting about the salient features of the building.
They said the building would be the first of its kind in Pakistan that would be capable of generating its own hydroelectricity.
The CM said the project would not only beautify the locality but also introduce new low-cost methods of power generation.
He told the chief secretary and other relevant officers to coordinate with the US-based management of the hydroelectricity generating company and, if feasible, use the technology for government institutions like the water board. The technology can be used even in Tharparkar, he added.
47-storeyed building approved - thenews.com.pk
Sector 7, Super Highway, Karachi
Bakht Tower, Karachi
Credit: @MWAhmed
Bahria Town Tower, Karachi
6 Under-construction apartment buildings, Karachi
47 Story Residential Project, Karachi
47-storeyed building approved
KarachiA plan for the construction of a ground-plus-47-storeyed residential building in Civil Lines was approved on Tuesday.
The decision was taken during the Sindh Density Development Board’s meeting, presided over by Chief Minister Qaim Ali Shah, at the CM House.
The plan was approved with the condition that the building would not pose any kind of security threat to the adjacent buildings. The building with double basement and a helipad at the rooftop will be executed by a private company. The ground floor will be used for commercial purposes, while the double basement and the first five floors will be used for parking.
The sixth floor will be used for entertainment and recreational activities, while the rest of the floors will be used for residential purposes.
Sindh Building Control Authority Director General Manzoor Qadir and architect Akbar Jameel briefed the meeting about the salient features of the building.
They said the building would be the first of its kind in Pakistan that would be capable of generating its own hydroelectricity.
The CM said the project would not only beautify the locality but also introduce new low-cost methods of power generation.
He told the chief secretary and other relevant officers to coordinate with the US-based management of the hydroelectricity generating company and, if feasible, use the technology for government institutions like the water board. The technology can be used even in Tharparkar, he added.
47-storeyed building approved - thenews.com.pk
Sector 7, Super Highway, Karachi
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