Pakistan Economy - News & Updates - Archive

[niaz]

Major crops share in GDP hits alarmingly low level: World Bank

ISLAMABAD (January 29 2007): The World Bank has cautioned that Pakistan's share of major crops in GDP was down to an alarming level and suggested the government that it needs to go for diversification into high value crops and livestock to increase the rural income for a quick U-turn in this key area.

The World Bank report on the Pakistan's agriculture sector output mentions a number of reasons of farms shrinking share in GDP and suggests various measures to face the challenge upfront.

It says agricultural growth in Pakistan throughout most of the last three decades has depended to a large extent on the major crops (wheat, rice, cotton and sugarcane).

As someone from a village from the heart of Punjab ( Sargodha area) I can tell you that reason for this decline are three:

1. Lack of water - There has not been sufficient water to meet all of Punjabs needs for the last ten years. This has resulted in zero increase in total area under cultivation. Farmers simply area switch between crops, so if there is more wheat, there is less suger cane or cotton and so on. Pakistani people will however not agree to building Dams !!!. ( specailly Kala Bagh)

2. Lack of sufficient fertilizers and pesticides at cheap prices. After paying all the costs there is simply not enough return from the agriculture.

3. Lack of power avails. Farmer use tube wells to make up for the lack of canal water. Electricity outage is so much, specailly during the Rabi ( winter) crops that crops never get properly irrigated.

Every knows this, but do you think any one cares ???

 

[Neo]

As someone from a village from the heart of Punjab ( Sargodha area) I can tell you that reason for this decline are three:

1. Lack of water - There has not been sufficient water to meet all of Punjabs needs for the last ten years. This has resulted in zero increase in total area under cultivation. Farmers simply area switch between crops, so if there is more wheat, there is less suger cane or cotton and so on. Pakistani people will however not agree to building Dams !!!. ( specailly Kala Bagh)

Agree on all accounts.
Water and power shortage is the key issue here.
Last dam was built three decades ago and further delay in construction of new dams will only result in desertification of our soil and create severe food shortage.

2. Lack of sufficient fertilizers and pesticides at cheap prices. After paying all the costs there is simply not enough return from the agriculture.

US and many other countries have switched over to GM crops with higher yield.
Government should do more to promote GM cultivation, specially in arid area's where the yield is lower than average due watershortage.

3. Lack of power avails. Farmer use tube wells to make up for the lack of canal water. Electricity outage is so much, specailly during the Rabi ( winter) crops that crops never get properly irrigated.

Again the solution is building of those dams by 2015, more water more electricity.

 

[Neo]

Germany, Canada, Italy and Norway swap $750 million debt

ISLAMABAD (January 30 2007): Germany, Canada, Italy and Norway have so far swapped their $750 million loans for social, rehabilitation and infrastructure development in Pakistan.

Officials of Economic Affairs Division told Business Recorder here on Wednesday that Germany has debt swapped Euro 105 million through four separate agreements while it has offered fifth debt swap for Euro 20 million for which government of Pakistan has given its concurrence.

The earlier four Debt Swap agreements were (a) Euro 25.56 million for education in the Punjab province (b) Euro 25.56 million for education in NWFP, Euro 30 million for infrastructure in NWFP and Euro 25 million for construction of Middle schools in NWFP.

They said that Canadian Debt Swap was the first debt swap concluded with any government worth C$449 million for education sector particularly for teachers training. There are separate components for Federal Government and al the provinces for which PC-1s have been approved and assignment account are being opened.

Officials said that Italy has swapped/cancelled $170 million through two separate agreements. Under the first agreement Italy cancelled its loan of $85 million in lieu of the expenditure incurred on Afghan refugees. Under the second swap agreement government of Pakistan will utilise Swap funds of $85 million on projects in areas of rural development and poverty reduction.

They said that Norway has swapped $20 million that would be spent through Pakistan Earthquake fund (PEF) established at ADP in four equal instalments of $5 million each.

http://www.brecorder.com/index.php?id=523349&currPageNo=1&query=&search=&term=&supDate=

 

[Neo]

Pakistan and Belgium to expand trade relations

BRUSSELS (January 30 2007): Pakistan and Belgium on Monday decided to expand co-operation for increasing their political, diplomatic, trade, economic and cultural relations for the benefit of people of two countries.

The decision was made during a meeting between Prime Minister Shaukat Aziz and Prime Minister of Belgium Guy Verhofstadt, held here at the office of Prime Minister in Brussels.

Both the leaders discussed bilateral relations, regional and international situation with special reference to Middle East, Lebanon, Iraq and Afghanistan situation. The prime ministers of the two countries also discussed trade and economic co-operation and Prime Minister Aziz said there is a great potential for trade and investment by Belgian private sector in Pakistan due to liberal economic policies.

Shaukat Aziz said Pakistan wanted to sign Free Trade Agreement (FTA) with European Union and wanted support and co-operation from Belgium in this regard.

He also gave an over view of economic development and said that size of the economy has doubled and Pakistan received $3.5 billion in the first six months. The figure will touch $5 billion by the end of current fiscal year as compared to just dollars 300 million seven years ago.

The Belgian Prime Minister appreciated the progress made by Pakistan in the economic sector and assured his country will extend full support and co-operation to Pakistan for entering FTA with EU.

Both the leaders agreed to further promote trade and investment between the two countries. Shaukat Aziz said one third of Pakistan's trade is with the European Union and the government wanted to promote it further.

They also discussed regional situation and Prime Minister Shaukat Aziz underscored Pakistan's interest in the stability and security of Afghanistan.

He briefed the Belgian Prime Minister about Pakistan's efforts to ensure peace and stability in the region. He said that Pakistan wants a stable, strong and developed Afghanistan as it is in the interest of Pakistan and the region.

He said Pakistan has deployed 80,000 troops along Pak-Afghanistan border and now considering selective fencing to stop movement of unwanted elements.

Giving more details about these measures, the Prime Minister said Pakistan has also given $300 million financial aid to Afghanistan, despite being a non-aid giving country. He said a new biometrics system was also being introduced to check the movement in the border area.

The Prime Minister said there is a need to adopt economic strategy through a Marshal type development plan for development in Afghanistan. He also mentioned the nexus between opium dealers and terrorists as it is very dangerous not only for the area but for the whole world. The Belgian Prime Minister said Pakistan has to play an important role in Afghanistan.

The Belgian Prime Minister appreciated the role of Pakistanis working in Belgium. They are playing a very effective and important role in the Belgian economy, he said.

Pakistan and Belgium also signed Debt Swap Agreement for euro 30 million assistance being provided by the Belgium government to Pakistan, following the October 2005 earthquake for the rehabilitation and reconstruction in the affected areas.

Prime Minister Shaukat Aziz thanked the Belgian government for assisting Pakistan in the rehabilitation and reconstruction in the earthquake-affected areas.

The Debt Swap Agreement, was signed by Minister of State for Economic Affairs of Pakistan Hina Rabbani Khar and Deputy Prime Minister and Finance Minister of Belgium Didier Reynders on behalf of their respective governments, in the presence of Prime Minister Shaukat Aziz and Belgian Prime Minister Guy Verhofstadt and other members of the delegation.

Under the agreement, the Belgian government has written off the euro 30 million loan given to Pakistan, which was to be paid in 30 years. Under the agreement signed today between Pakistan and Belgium, the amount of euro 30 million swap-generated funds shall be allocated to earthquake fund of the Asian Development Fund for rehabilitation and reconstruction efforts in the affected areas of NWFP and Kashmir.

Members of Pakistan's delegation including Trade Minister Humayun Akhtar, Railways Minister Sheikh Rashid Ahmed, Minister of Privatisation and Investment Zahid Hamid and Minister of State for Economic Affairs Hina Rabbani Khar also participated in the talks.

http://www.brecorder.com/index.php?id=523327&currPageNo=1&query=&search=&term=&supDate=

 

[Neo]

'Pakistan now better placed for foreign investors'

LAHORE (January 30 2007): Reforms introduced in last three years have transformed Pakistan into an attractive destination for foreign investment and the country is attracting foreign investment as compared to other countries of the world.

In the WB report, which takes into account overall ease of doing business, based on a number of factors, including the degree of difficulty in starting a business, employing workers, protecting investors, trading across borders, and enforcing contracts, Pakistan scored better than even Italy, Greece and Brazil, it noted.

The financial sector reforms were providing a lot of incentives to the potential investors from across the globe, said official sources talking to Business Recorder.

"Pakistan is among the most dynamic countries which have grown rapidly during the past few years. Pakistan is one of the four or five countries that show most dynamism now in the global economy,' they said".

According to them, Pakistan is persistently showing good performance and moved upwards around 20 ranks during the past two to three years. Pakistan's policy of deregulation, a talented workforce and ease of doing business make it investment-friendly. They said Pakistan's leadership under President Pervez Musharraf has taken steps to deregulate Pakistan's telecom sector, facilitating companies to conduct business. The World Bank in its report, titled Doing Business 2007, showed Pakistan is in a better position than other regional economies.

http://www.brecorder.com/index.php?id=523373&currPageNo=2&query=&search=&term=&supDate=

 

[Neo]

January 30, 2007
Malaysian company to complete $100m project

By Shahid Iqbal

KUALA LUMPUR, Jan 29: Malaysian telecom giant is set to complete its $100 million country-wide fibre optic project in Pakistan by October this year. Telekom Malaysia (TM), a company worth $1.4 billion, has found tremendous potential in Pakistan and is interested in buying the Pakistan Telecommunications Company (PTCL). It is also keen to buy Paktel, a cellular company which was recently bought by a Chinese company.

“We will complete our joint venture as “Multinet” in Pakistan by October this year,” said TM International chief executive Yousuf Annuar Yacob, who looks after international operations of the company.

Speaking at a press conference attended by media men from eight countries, he said the quantum of investment was around $80 to $100 million, which would be the largest fibre optic network in Pakistan.

Multinet is a licensed electronic information services (EIS) and data network operation services (DNOPS) provider in Pakistan. Its activities include local loop, LDI and other value-added services, such as DSL, broadband, gigabit metro area broadband, wireless broadband and allied services.

The TM International has investment in nine countries, including Pakistan, Sri Lanka, Bangladesh, Cambodia, Singapore, Indonesia, Thailand, India and Iran. In February 2005, it announced a joint venture fibre optic backbone project with Multinet. The deal concluded in April 2005.

“Cellphone is the fast growing sector in Pakistan and has enormous potential for investors,” said Telekom Malaysia group chief executive Mr Wahid.

Overseas investments of the company contribute 30 per cent profits to the TM group which is substantially high, especially when the TM has monopoly in the fixed telephone sector. It has over 90 per cent share in this sector and 35 per cent in the mobile phone sector within Malaysia.

http://www.dawn.com/2007/01/30/top20.htm

 

[Neo]

Tuesday, January 30, 2007

Pakistan to face shortage of capable workforce: report

By Fida Hussain

ISLAMABAD: Pakistan will face serious challenges in retaining talented and keen minds necessary for future economic development and the government will be required to give incentives for attracting human talent from other countries and retaining intellects from among own people, said a draft report of the Planning Commission.

The report titled “Vision 2030” said that apart from natural resources, the battles of the future would be battles for talents among companies and countries. Talent hunt is the highest priority everywhere and is at its fiercest in high-tech industries.

The report has been submitted to the line ministries and organizations for their inputs and comments and is expected to be approved by the National Economic Council (NEC) during the last quarter of the current financial year. “Legal frameworks notwithstanding, knowledge and information flow to places where demand is the highest, the barriers are lowest and merit is appreciated,” said the report.

Attracting keen minds from other countries would be necessary. The immigrants are generally more productive and innovative. The report argued that intangible assets accounts for more than half of the market capitalization. Many corporations have started moving better jobs offshore, capitalising on high-grade workers with local knowledge. There could be a challenge for the country if the companies and foreign corporations faced with talent shortages, said the report.

The governments across the world have got the talent bug, and rich countries have progressed from simply relaxing their immigration laws to actively luring highly qualified people. The challenges as well as opportunities for Pakistan are very real, according to the report.

Pakistan must stress on vocational and technical education by keeping in mind the successful example of Ireland. Ireland is becoming a hub for high technology good and services—a shift away from a rural economy to one with highest growth of industrial productivity and technology in Europe. The key driver of this transition has been the change in educational attainment in the Irish work force, from predominantly primary education to one with higher tertiary skills.

The report called for enhancing the scale and quality of education in general and the scale and quality of scientific/technical education in Pakistan in particular. Pakistan must increase public expenditure on education and skills generation from present 2.7 percent of GDP, to 5 percent of the GDP by 2010 and further doubling by 2015.

The report opines that it is imperative that employment and employability of scientists in industry should be increased substantially. One reason is that strategic organizations, mostly in public sector, cannot continue to absorb the scientists to absorb them indefinitely. The existing engineering universities have been totally ineffective in inculcating or sustaining a culture of research and development due to absence of a strong programme in the basic sciences at their campus, which deprives them of core competency and confidence in physics, mathematics, chemistry and even biology.

http://www.dailytimes.com.pk/default.asp?page=2007\01\30\story_30-1-2007_pg5_5

 

[Janbaz]

Japan to assist in transport sector

HAQ NAWAZ
ISLAMABAD - Japan has shown willingness to provide financial and technical assistance to Pakistan for the launching of mega projects of intra-metropolitans and long distance inter-cities tunnel train services to reduce burden on the transport sector, a government official told TheNation.
The private sector companies from Japan, having expertise in tunnel train services, are taking interest in investing in the railway sector, especially of jointly initiating the ventures of intra-cities tunnel train service. They have also indicated to invest in the long-distance tunnel train service among the various major cities.
The official said the Japanese investors have communicated to government of Pakistan about their interests in the said areas to help both financially and technically in setting up such train services. The proposal in this respect has been under review in the Ministry of Railways and the experts are looking its feasibility and also viability. The decision will be taken shortly after discussing every aspect of these projects.
He maintained the investors’ interest in these railways projects reflects the stability in the construction sector as such projects are directly linked with the availability of construction materials like cement. The huge construction projects of building tunnels required larger stocks of cement and the government is confident to fulfill the needs of the investors. “If the production of cement, the main component in construction, continued at this level then there would more investors to come in Pakistan,” the official hoped.
Train service in Pakistan is totally under state control due to its strategic importance and the government has not yet put Pakistan Railways on the privatisation list and no sign in the near future. Pakistan Railways still maintains its significance of larger network and accessibility to various small towns and villages across the country, especially in Sindh and Punjab.
Carrying goods from various major important trade centres like Karachi and Lahore etc to other parts of the country presently uses railways service. Pakistan Army is also using train service for mobilization and supplying of goods from one place to other.

The Nation.
http://www.nation.com.pk/daily/jan-2007/30/bnews1.php

 

[Owais]

Govt to establish four industrial zones at Faisalabad, Sialkot


LAHORE: Chief Minister of Punjab Chaudhry Pervaiz Elahi has said four industrial zones were being established in Faisalabad and Sialkot after an industrial estate in Lahore, to accelerate the trade activity in the area.

He said that the government’s measures and projects for the industrial and social development have started yielding results.

He was talking to reporters after his visit to the Sundar Industrial Estate. He said the estate was the best in the country and it would directly create 60,000 jobs and 0.6 million indirectly. He said industrial estates were being established across the province to spur development and generate jobs.

“The industrial development and the provision of employment are part of the government’s Vision 2020,” he said, adding that according to the Vision, one million jobs would be generated every year. He said the industrial estate sprawling over 1,500 acres had been provided with the state-of-the-art infrastructure. “

Pharmaceutical, chemical, pesticides, plastic, food, beverage and other industries are being set up in the industrial estate,” he added.

The CM said work on the M-III Industrial Estate, Faisalabad was on the progress. “The M-III Industrial Estate will spread over 4,500 acres. The Chinese will invest $200 million in it,” he added.

He said three industrial zones were being established along the Lahore–Sialkot motorway to accelerate the trade activity in the nearby areas. He said that a university would be set up near Sialkot. An industrial park spread over 100 acres would be set up besides the university. “The university will be a milestone in the promotion of the technical sector.”


http://geo.tv/geonews/details.asp?id=1459&param=3

 

[Janbaz]

Liquid reserves of Pakistan cross $ 12.9 bln mark

KARACHI: The total liquid foreign reservesof the country crossed 12,952.8 million dollars mark on January 20, 2007, State Bank of Pakistan announced here Thursday.

According to the break up, dollars 10,596.2 million were held by the central bank whereas other banks held dollars 2,356.6 million on the said date .

Geo TV.
http://www.geo.tv/geonews/details.asp?id=1262&param=3

 

[Owais]

Belgium turns $13 million Pakistani debt into quake aid


ISLAMABAD (updated on: January 31, 2007, 16:11 PST): The Government of Belgium has agreed to cancel about 10 million euro based on net present value (about US$13 million) in debt owed by Pakistan, which will in turn transfer the equivalent funds into ADB's Pakistan Earthquake Fund (PEF).

"We are very pleased to conclude this innovative co-financing approach with Belgium to finance additional reconstruction works particularly in the health and education sector," says Werner Liepach, Principal Director of ADB's Office of Co-financing Operations in a release from Manila on Wednesday.

The earthquake that struck the northern areas of Pakistan in October 2005 was the most devastating in its history. Official figures estimate that at least 80,000 people were killed and more than 200,000 were injured in the North West Frontier Province and Azad Jammu and Kashmir (AJK).

Some 2.6 million were left without shelter and an estimated 1.6 million without adequate food security or means of livelihoods. There was extensive damage to economic assets, and infrastructure, with hospitals, schools and transport systems debilitated or destroyed.

A preliminary damage and needs assessment report prepared by ADB and the World Bank only 19 days after the quake estimated that about $5.2 billion was needed to effectively carry out a relief, recovery, and reconstruction strategy.

During the donor conference of 19 November 2005, ADB pledged $1 billion for Pakistan's reconstruction efforts from the quake. Before the conference, ADB had reallocated $80 million from various ongoing projects and also established PEF, which included an initial contribution from ADB of $80 million in grants.

Similar to ADB's Asian Tsunami Fund, PEF aims to pool and promptly deliver grant financing for projects that support immediate reconstruction, urgent rehabilitation, and other associated development activities.

Belgium's debt-for-development swap, totalling 9.92 million euro based on net present value in debt owed by Pakistan, follows a similar move in December by Norway, which cancelled $20 million equivalent in debt to be remitted to the PEF. Agreements have also been signed with Finland to contribute $12 million and Australia $15 million to the PEF.

brecorder.com

 

[Owais]

AlBaraka bank to double branches in Pakistan


LONDON (updated on: January 31, 2007, 21:05 PST): Bahrain-based AlBaraka Islamic Bank (AIB), a division of the AlBaraka Group, plans to almost double its branch network in Pakistan to 20 over the next year, the bank's general manager said on Wednesday.

'Outside (of Bahrain) we have branches in Pakistan. Right now we have 11 branches and we hope to bring it up to 20 branches within one year. It is a little bit ambitious,' said Salah Zainalabedin, general manager of AIB.

"In Bahrain we have currently three branches and we are planning a couple more .... Another three branches in the next three to four years," he told Reuters on the sidelines of an Islamic finance conference in London.

AlBaraka said in December it plans to float 25 percent of its unit in Pakistan to bring its capital to $100 million.

brecorder.com

 

[Owais]

CFH, PEL to invest $200 million in exploration, power sectors


ISLAMABAD (updated on: January 31, 2007, 17:59 PST): President of Canadian Frontier Holdings (CFH) Nigel McCue accompanied by Chairman Petroleum Exploration Limited Zaheeruddin called on Minister for Petroleum and Natural Resources Amanullah Khan Jadoon here on Wednesday and briefed him about the joint venture investment plan of $200 million in oil and gas exploration and power sectors.

During the meeting, Nigel McCue informed the minister that the CFH has entered into partnership with a Pakistani company Petroleum Exploration Limited (PEL) that has resulted in acquiring working interests in seven concessions held by the PEL.

He told that the joint venture intends to set-up a power plant of 60-120 MW at Sukkur based on the huge low BTU reserves of its Kandra gas field.

He said the development of Kadra gas field resources of 3.4 trillion cubic feet will be main source of gas supply to the power facility.

They have also planned the drilling of development wells with a view to ensuring a sustained gas supply to power plant by investing $ 160 million, which is expected to be commissioned in 2009 involving further investment of $60 million.

Chairman PEL Zaheeruddin informed that the Canadian company would not only bring new technology to Pakistan but also utilise its expertise in drilling a number of exploration development wells during next three years in concessions blocks required by the Joint Venture.

Welcoming the Chief Executives of Canadian Frontier Holdings and PEL, the minister said the government was taking concrete steps to exploit the untapped hydrocarbon resources in order to meet the growing energy needs of the country.

He said that the government was opening new blocks in the coming days which would promote the oil & gas exploration in the country.

Jadoon appreciated the PEL's contribution for promoting the oil and gas exploration activities in the country and invited the joint venture to avail the investment opportunities in the upcoming projects for the mutual advantage.

Minister of State for Petroleum and Natural Resources, Mir Muhammad Naseer Mengal, Additional Secretary, Shaukat Hayat Durrani, Director General (Petroleum Concession), Naeem A. Malik were also present during the meeting.


brecorder.com

 

[Owais]

Rs200 million export order received from USA: minister


LAHORE (updated on: January 31, 2007, 17:52 PST): Punjab Minister for Industries Muhammad Ajmal Cheema said on Wednesday the response of 'one dollar shop programme' is positive and this programme is going on successfully and the export order from USA has been increased upto Rs 200 million so far.

Talking to a delegation at his office here on Wednesday, he said a number of industrialists showed great interest in 'one dollar shop programme' and now it was decided to increase the sphere of this programme.

He said more seminars are being organised for awareness of this programme, in which investors would be provided necessary information about the utility of this programme and manufacturing of various items so that they could get information regarding items which are being exported to USA.

He said more exhibitions regarding 'one dollar shop programme' are being arranged, adding that one dollar shop seminar will be held at Rawalpindi Chamber of Commerce and Industry on February 3.

The minister said training and facilities are being provided to investors regarding 'one dollar shop programme'. He said China was moving toward high tech industry from small items and Pakistan investors should come forward to fulfil this gap.

He said with the successful implementation of this programme, not only the foreign exchange reservoirs of the country would be increased but also new job opportunities would be created.

brecorder.com

 

[Neo]

January 30, 2007

200,000 cusecs of water going to waste

ISLAMABAD, Jan 29: About 200,000 cusec of water fell into the sea without being utilised for irrigation purposes during the last 10 days of the ongoing Rabi season owing to negligence on the part of Punjab and Sindh and electricity requirements of Wapda, it is learnt.

Sources at the Indus River System Authority (Irsa) said the two provinces had been placing indents since January 19 but did not utilise their water share and as a result about 0.4 million acre feet (MAF) of water has been wasted since then. Additionally, about 12,000 cusec of water was released for power generation by Wapda early last week.

This irresponsible approach of the two provinces and the power utility for not observing the approved water discharge plan and resultant wastage has worried the Irsa authorities, raising fears that such an attitude could result in water shortage by the end of the season or leave no carryover for the Kharif season.

The Irsa has convened a meeting of its advisory committee on February 1, 2007 to take stock of the situation and prevail upon the provinces not to seek withdrawals higher than their genuine irrigation requirements so that such a trend is stopped forthwith.

"The flow of 0.4 MAF of water below downstream Kotri and that too, in this season is nothing but criminal indifference towards prudent utilisation of natural resource," an official of the water and power ministry told Dawn. He said Irsa had projected water shortages for the season in the early days of Rabi, but later it emerged that there was no shortage. "But that does not mean the provinces and Wapda create shortage just because of their irresponsible behaviour," he said.

Informed sources said Irsa had recently written separate letters to the Punjab and Sindh irrigation authorities, conveying that "such wastages are unacceptable" and asked them to draw water according to their genuine needs.

The sources said Sindh had placed before Irsa an indent of 40,000 cusec for the last 10-daily withdrawal plan. However, Sindh’s water utilisation hovered between 23,000 and 30,000 cusec in the last 10 days and sizeable water quantities went downstream Kotri.

Similarly, the provincial irrigation authorities had informed Irsa that canal closure schedule in Punjab had come to an end and that it started withdrawing substantial quantities from its reservoirs. However, Irsa found out later that Punjab’s canal closure was still in place.

Likewise, on the request of the Punjab irrigation authorities, Irsa had reduced releases from the Mangla dam in the aftermath of a breach of Taunsa-barrage embankment about two weeks ago to about 16,000 cusec from 23,000 cusec. However, it later emerged that the Wapda authorities had released up to 28,000 cusec of water even a day after a cut was imposed, thereby wasting about 12,000 cusec of water.

Irsa has estimated about 14 per cent water shortage at the start of the Rabi season this year but timely rains at the sowing stage later resulted in improvement in the situation. Subsequently, the shortage estimates were brought down to zero and it was expected that even the next season would start with a carryover stock of about a million acre feet or so.

The power utility, which has been facing power shortages this year, has been minimising loadshedding through management of provincial water shares in the peak hours and in some cases went beyond the provincial requirements to contain blackouts.

The canal closures in Sindh and Punjab were put to an end from January 19 onwards, although the provinces have been drawing minor water quantities even during the closures.

http://www.dawn.com/2007/01/30/top6.htm