Pakistan Economy - News & Updates - Archive

[Neo]

'Exports to traditional markets remain marginal'

KARACHI (May 15 2007): Country's exports to its traditional markets North America, European Union and Middle East remained marginal in first eight months of current financial year, region-wise export figures said. Although Pakistan could not post high growth in its export to these markets.

However, there was impressive growth to some non-traditional markets but due to low volumes of export to these regions, the growth could not boost the overall exports much.

According to details, the overall exports to traditional markets like North America increased by 2.8 percent whereas exports were up by only 3.5 and 8.6 percent to its other major trading partners Middle East and European Union (EU) respectively.

On the other hand, the growth to its non-traditional markets was quite encouraging and impressive as there was increase of 43 percent to South America, 54 percent to Central America and 21 percent to Eastern European region during the first eight months of current financial year.

The export figures suggest that export of the country to African market was almost negligible, as there was only 0.54 percent growth in its export to countries of Africa. Whereas there was 7.3 percent decline in export to Asian countries other than the Middle East during the period under review and export dipped by 6.7 percent in Oceania region in this period.

The country-wise exports also showed mixed trend during the first eight months of current financial year. A quick look on country-wise export shows that the exports to USA, the major trading partner of Pakistan was up by 8.2 percent during this period.

http://www.brecorder.com/index.php?id=564513&currPageNo=2&query=&search=&term=&supDate=

 

[Neo]

Oil and gas discovered in Khipro

ISLAMABAD (May 15 2007): Orient Petroleum International inc (OPI led joint venture partners BowEnergy Resources (Pakistan) (SRL) Zaver Petroleum Corporation Limited and the Government Holdings (Private) Limited on Monday announced positive testing of Rahim well 1 in block 2568-6 (Khipro), Sindh.

An announcement made by the joint venture partners said that the well flowed around 800 barrels per day of oil and 0.35 MMscfd of gas at a fixed choke of 20/64" with a flowing wellhead pressure of around 730 psig. The calorific value of the gas is 1054 btu/ft3. Its sixth major discovery at Khipro block and 11in Mirpur Khas and Khipro blocks of the joint venture.

Orient Petroleum International Inc is the operator of Mirpur Khas, Khipro Blocks, Sakhi Sarwar, Maharvi and Marwat Exploration Blocks and is producing from ten discoveries from ten discoveries in Mirpur Khas and Khipro Blocks. In addition, OPII is also operator of three producing properties located in the northern region of Pakistan namely Dhurnal, Ratana and Soan.

http://www.brecorder.com/index.php?id=564476&currPageNo=2&query=&search=&term=&supDate=

 

[Neo]

New technologies to enhance oil and gas discovery rate: Jadoon

ISLAMABAD (May 15 2007): Chairman of Dynavest Company of Switzerland, Dr Anton E. Schraff accompanied by members of his delegation called on Minister for Petroleum and Natural Resources, Amanullah Khan Jadoon here on Monday. During the meeting, both sides discussed matters related to investment potential in the exploration sector.

The minister said the government was according priority to tap the unexplored sedimentary area of 6,27,000 sq. km. aimed at accelerating the exploration activities in onshore and offshore blocks. He said, "Pakistan is an ideal place for the foreign investment in oil and gas exploration and production having excellent discovery rate."

The government has introduced far- reaching policy of deregulation of the petroleum sector and foreign participation in oil and gas exploration activities was being encouraged, he added.

Jadoon said the government would welcome Dynavest's co-operation in oil and gas explorations possessed with high technologies in the drilling and reservoir fields which was pre-requisite for achieving high success in drilling wells. Dr Anton briefed the minister about his company's profile and world-wide activities in the drilling field.

He said that Dynavest intends to introduce new technologies in Pakistan for achieving high success rate in the oil and gas exploration activities. Secretary Petroleum Ahmed Waqar, Chairman OGDCL Arshad Nasar and senior officials were also present.

http://www.brecorder.com/index.php?id=564548&currPageNo=1&query=&search=&term=&supDate=

 

[Neo]

CDWP to approve 52 projects worth over Rs37bn

By Khalid Mustafa

ISLAMABAD: The Central Development Working Party (CDWP) that will meet on May 17 with deputy chairman of Planning Commission Dr Akram Shiekh in chair is likely to accord approval to 52 projects of paramount importance valuing Rs37.893 billion.

According to the agenda of the meeting available with The News, in Transport & Communications sector, the meeting will take up 15 projects of Rs27.796 billion including the upgrading and realignment of Karakuram Highway (KKH) by National Highway Authority keeping in view the construction of Diamer-Bhahsa dam. The realignment of Karakuram Highway will cost Rs13.844 billion.

Other projects in Transport & Communications sector that will be taken up for approval include 1) setting up optical imaging payload facility, 2) setting up of design, development & testing of special metallic joint, 3) Attitude & Orbital Control System Centre, 4) Remote sensing data transmission facility, 5) Development of dynamic system test facility, 6)Design & development of a compact antenna test range, 7) Construction of Bostan-Zhob narrow gauge section into broad gauge, 8) Provision of railway tracks for setting up dry port at Prem Nagar, including acquisition of land, 9) Construction of grade separated interchange at Nagan Chorangi, 10) Construction of back top road from Tellimute to Doli Post and others.

In water sector, the meeting would take up four projects of Rs2.03 billion for approval including Resettlement Action Plan for Mirani Dam of Rs1.184 billion, Construction of Lougher dam and Karak dam in district Karak, and Darmalak dam in district Kohat. In the Physical Planning and Housing sector, the CDWP meeting is likely to approve nine projects.

In the energy sector, the meeting is to approve the construction of 132 KV grid stations in sector 1-16 Islamabad with the cost of Rs323.69 million. In Health sector, the meeting is likely to accord approval to two project of worth Rs918.861 million which include 1) Provision of sterotactic radio surgery system at JPMC Karachi, 2) Construction of surgical medical block, JCO ward and other allied facilities in Karachi.

The meeting will also approve the most important project about strengthening of regulatory infrastructure by applying innovative radioactive waste management technology that will cost Rs338 million.

In higher education sector, the meeting will take up three projects of Rs1.835 billion for approval that include 1) establishment of national law university, Islamabad, 2) strengthening of departments of Economics Business Administration, Commerce & Applied Economics Research centre at university of Karachi and 3) Provision of Higher Education opportunity for students of Balochistan and FATA.

http://www.thenews.com.pk/daily_detail.asp?id=55855

 

[Neo]

Chinese group eyes Pak steel sector

ISLAMABAD: The government is negotiating with China 40 new public and private sector joint venture projects in power, social and infrastructure sectors, to be executed in five years, boosting mutual trade and economic cooperation.

A visiting Chinese delegation of Shanghai Baosteel Group Corporation, Monday expressed their keen interest in investing Pakistan’s steel sector. The company is already in the process of setting up joint venture with a Pakistani company Sapphire Group in the field of steel manufacturing.

Federal Minister for Privatisation and Investment, Zahid Hamid while meeting the visiting delegation led by Feng Aihua, Vice Director of Business Development Department stated that Pakistan encourages private sector joint ventures for economic interaction and development of private sectors of the two countries.

Chinese public and private companies are already cooperating with Pakistan in executing 42 projects in the fields of fertilizers, mining, PVC integrate, light rail mass transit, motherhood TV Channel, technology transfer & industrial, friendship park, construction, power, housing, mega infrastructure, automobile, Gawadar airport, pesticides, hotels, cement plants, tourism, software maintenance.

Besides, the two countries are working jointly in the fields of oil & gas exploration, auto-motorcycle, production of human vaccines, bio pharmaceuticals, dairy, textile, steel mills, heavy duty trucks, communication towers, production of hybrid rice seed, manufacturing of 4-stroke CNG auto rickshaw, cellular phone company projects etc.

The Minister also informed that 33 JVs were also underway between the private sectors of Pakistan and Japan, Malaysia, Egypt, Kuwait, UAE, Thailand, Qatar and Kingdom of Saudi Arabia.

http://www.thenews.com.pk/daily_detail.asp?id=55861

 

[Neo]

May 15, 2007
IPPs given extension to set up new projects

ISLAMABAD, May 14: The government has overruled power regulator’s reservations and has granted about five-month extension to the existing independent power producers (IPPs) to set up three fresh thermal projects of about 400-500 MW at a tariff exceeding 11 cents per unit, it is learnt.

Informed sources told Dawn that a recent meeting of the Economic Coordination Committee (ECC) of the cabinet had allowed the Private Power and Infrastructure Board (PPIB) to sign agreements with these IPPs on the basis of their bids that offered tariff at 11.11 cents per unit.

Under the original plan, Kohinoor Energy and Japan Power were to set up their residual fuel oil based projects of 143 MW and 100-200 MW capacity respectively near Lahore by October 2008 while Tapal Power was to set up a 161 MW project near Karachi. The three companies are already operating comparatively smaller of 126 MW, 107 MW and 120 MW respectively that were set up under the 1994 power policy at an average tariff of 5.7 cents per unit.

The sources said the PPIB had informed the ECC that these projects should be given an extension in commercial operation date (COD) until March 2009 ' instead of October 2008 ' and their tariff offer of 11.11 cents per unit be approved.

The PPIB had also informed the ECC that their tariff was lower than 11.87 cents per unit tariff that the Nepra had allowed to some IPPs through the hearing process under the tariff rules.

The National Electric Power Regulatory Authority (Nepra) had expressed reservations over the tariff on the grounds that power tariffs for these projects should follow tariff rules under the 1997 Nepra Act that envisaged a proper process of public hearing.

The Nepra had opined that the bidding for these projects was allowed as a special case and was subject to their commercial operation by October 2008 to overcome shortages on a fast track basis.

It said since the objective of "fast track development" had not been achieved, they should be asked to follow normal procedure of tariff setting through public hearing.

The Nepra believed that the three sponsors already had their infrastructure available and it was just capacity addition at the existing site which meant that their tariffs could come down by slicing some of the elements of tariffs which they were charging through their existing plants.

Led by Prime Minister Shaukat Aziz, the ECC, however, overruled the Nepra’s reservations and allowed the PPIB to sign implementation agreements with the three sponsors so that they are able to immediately start construction of the expansion projects and start commercial operation by March 2009.

Meanwhile, a government spokesman said on Monday that the country currently faced a gap of about 800 MW between demand and supply, which may not cross the figure of 1,100 MW during the peak summer season, according to latest actual projection.

The spokesman said due to better management, reduction of forced outages in generation companies and energy conservation measures, the power deficit may not exceed 1000 to 1,100 MW during peak hours.

http://www.dawn.com/2007/05/15/ebr3.htm

 

[Neo]

Tuesday, May 15, 2007

Gartner toconduct study on Pakistani IT industry

ISLAMABAD: The Pakistan Software Export Board (PSEB) signed a contract with Gartner Inc, the world’s leading information technology research and advisory company, to conduct a study on the Pakistani IT Industry.

The contract was signed at PSEB head office here in the presence of IT secretary, PSEB MD, PASHA president and VP Gartner Consulting. Dr Tony Murphy, Vice-President, Gartner Consulting arrived here on 13th May, to deliver the technology related insight need to boost the IT Industry in Pakistan.

He will be in Pakistan from May 14th to 19th 2007, to undertake a review and study of the existing conditions of the Pakistani IT sector with particular emphasis on the software and IT services sector. The study will also develop a practical strategic blueprint for the sector to achieve a step-change improvement in the performance of the IT Industry.

Dr Tony Murphy would act as engagement manager and chief author for this study. His recent book ‘Achieving Value from Technology: A Practical Guide for Today’s Executive’ (Wiley/Gartner Press) has become an international best seller and is becoming standard practice for many organisations worldwide.

His new book ‘Succeeding in the Knowledge Economy’ lays heavy focus on developing a national ICT sector and also investigates why some regions have succeeded in the knowledge economy and others have lagged. He assisted a number of software companies in the Gulf region in their product planning, marketing and corporate development strategies.

http://www.dailytimes.com.pk/default.asp?page=2007\05\15\story_15-5-2007_pg5_7

 

[Neo]

Budget to have enough for poor: Shaukat

LAHORE (May 16 2007): Prime Minister Shaukat Aziz on Tuesday said that the 2007-08 budget would have enough for the betterment of poor segments of the society. "The allocation of more funds for development projects will also generate more jobs and elevate socio-economic condition of the poor strata of the society," he said while speaking at the LCCI Achievement Awards-2007 ceremony held at Governor's House here this evening.

Punjab Governor Lieutenant General (Retd) Khalid Maqbool, Chief Minister Chaudhary Pervaiz Elahi, Federal Minister for Privatisation and Investment, Zahid Hamid, Federal Minister for Industries, Production and Special Initiatives, Jahangir Khan Tareen, President Lahore Chamber of Commerce and Industry (LCCI), Shahid Hassan Sheikh and Iftikhar Ali Malik, former Federation Chairman and Co Chairman businessmen panel and leading members of business community were present on the occasion.

The prime minister said that Pakistan's per capita income is all set to rise to the level of $950 by the end of current fiscal year from the present level of $846.

"Hopefully, it will cross the mark of $1000 next year, enabling Pakistan to join the group of countries with better income," he said. The prime minister said that Pakistan would have bumper crops this year that would generate more disposable income in the rural areas.

He said that increased income would ultimately lead to more consumption, thus enhancing the production in the manufacturing sector. He said, apart from increase in the per capita income, the middle class in the country was also growing.

He said that the steps taken by the present government had helped bring down the incidence of poverty and illiteracy rate in the country. However, he said, a lot more had to be done in this regard.

Talking about government's efforts to provide enabling environment to the business community, Shaukat Aziz said that government was playing the role of formulating policies and facilities the business community to do business in a hassle-free environment.He said that government was pursuing the policies of deregulation, liberalisation and privatisation. " Our policies are very transparent and consistent as any U-turn can harm the economy," he added.

http://www.brecorder.com/index.php?id=564799&currPageNo=1&query=&search=&term=&supDate=

 

[Neo]

Pakistan pleads for initiating FTA with EU states

ISLAMABAD (May 16 2007): Commerce Minister Humayun Akhtar Khan has pleaded for better European market access to Pakistani products and initiation of Free Trade Agreement (FTA), with EU member states.

Humayun, who is in Paris as part of the government's strategy to lobby for FTA with European countries, met a business delegation at Medef International-the French Business Confederation that represents around 800,000 large, medium and small French enterprises in all sectors (industry, commerce and services). Representatives of 25 major French companies, including Alcatel, Alstom, BNP Paribas, Accor and Danone participated in the discussions.

The Commerce Minister highlighted existing business opportunities in Pakistan's market and cited contents of World Bank study on 'doing business' in which Pakistan ranks 74 on a scale of 1 to 175. He asserted that Pakistan was a business-friendly country, which offers liberal investment and trade regime.

He was of the view that emerging middle class was broadening the consumer spending base and creating inelastic demand for quality goods. It's the best time for investment as there were numerous prospects for international and local businesses, he added. He also mentioned Goldman Sachs' classification of the 'next 11' fast emerging economies, which includes Pakistan.

Humayun highlighted the need for establishing linkages between the French and Pakistani companies in the textile sector. Pakistan's ambassador to France, Asma Anisa in her address briefed the participants about the overall trade and economic relations between the two countries.

A number of French companies were increasing their presence in Pakistan, which had rapidly increased trade between the two countries crossing $1 billion mark, she said.

Perigot, Chairman of Medef International welcomed the minister and recounted Medef's initiatives to bring together French and Pakistani businesses. He stated that Medef's forthcoming mission to Pakistan in June 2007 would be an important next step in the on-going exchanges.

He also pointed out that there was a lot of scope and potential for cooperation and to further develop trade and investment relations between France and Pakistan, particularly in infrastructure development and energy sectors. Senior representatives of important companies like Accor and Alcatel presented testimonies of their experience of doing business in Pakistan.

They termed the business environment as dynamic and positive. They also informed the meeting about their business expansion plans in Pakistan. The representatives of French companies present in Pakistan expressed satisfaction over security situation. "We feel secure in Pakistan", remarked Accur representative.

http://www.brecorder.com/index.php?id=564941&currPageNo=1&query=&search=&term=&supDate=

 

[Neo]

Paris Chamber to send trade mission to Pakistan

ISLAMABAD: Paris Chamber of Commerce and Industry (PCCI) will send a 15-20 member trade mission to Pakistan in September this year with a view to developing deep contacts with companies in Pakistan and to promoting bilateral trade between both the countries.

The Paris chamber, a premier trade body in France with over 300,000 members, is also considering sending a business delegation to Expo Pak next year.

This was disclosed by President Paris Chamber of Commerce and Industry Pierre Simons in a meeting with Minister for Commerce Humayun Akhtar in Paris on Tuesday at the chamber’s office, says a message received here.

The minister and president PCCI discussed possibility of exchange of students programme in business education that would help in developing a better understanding of each other’s business environment for the young business managers of both the countries and will be useful in promoting bilateral trade and investment.

The Paris chamber manages two business schools including HEC, the number one business school in Europe.

It was also decided that both the sides would start working towards formulating an institutionalised arrangement between the business schools in Pakistan and the schools of the Paris chamber.

The minister appreciating the efforts of the chamber to promote bilateral trade relations, identified other areas where cooperation could be enhanced.

He highlighted Pakistan’s capabilities in the field of textile industry, after elimination of quotas, where there are ample opportunities for French companies for acquiring brands, sourcing from Pakistan and to make their production base in the country.

Other potential sectors included telecom, wholesale and retail, service sector, power generation, light engineering and infrastructure development.

While discussing, global, regional and bilateral trading agreements, the minister highlighted the need for improved market access for Pakistan to the EU and to start negotiations on a Free Trade Agreement with the EU.

http://www.thenews.com.pk/daily_detail.asp?id=56061

 

[Neo]

Foreign investment in manufacturing stressed

By Mansoor Ahmad

LAHORE: Foreign direct investment in Pakistan this year would simply facilitate the government in balancing the current account deficit caused by higher growth, but it would not have much impact on job creation.

Economists point out $6 billion FDI, which Pakistan expects to receive by the end of current fiscal year in June, would mostly go to the services sector, led by telecommunications, or the investment would come in the shape of privatisation proceeds from the sale of public enterprises and recent surge in takeover of many small domestic banks by foreign banks. There is no significant foreign investment in the manufacturing sector.

An economist and chartered accountant Naveed Anwar Khan, commenting on the situation, said the quality of FDI received during recent years had not been impressive. Investment in the stock market is a new addition to foreign investment, but is fraught with risk as it could be used for speculation because of the local law that allows investors to take out money any time.

He said the Indians, who received a large amount of foreign investment in the capital market, had made it mandatory for investors to keep their money invested for a considerable period before pulling out. “This effectively checks speculative investment,” he added.

A Certified Chartered Accountant Asif Ali Shahid said the telecommunication sector had attracted highest FDI this year and availability of a top-class telecommunications network was essential for sustained economic growth in the country.

He said the telecoms would facilitate supply chain links for the manufacturing and export sectors. The telecom industry has grown more rapidly than the manufacturing sector where investment was almost negligible in hi-tech value added industries.

He said jobs to be created through $6 billion worth of FDI would be less than those created during Nawaz government’s last tenure when less than $2 billion of FDI came to Pakistan in more than three years.

Economists caution the current investment trend promotes growth, but excludes majority of the population. They said investment in the capital market, telecommunications and oil and gas exploration was necessary and would improve the economy. However, these investments are not likely to improve the lot of lower strata of society.

They said fruits of these investments would be exclusively enjoyed by the rich. The poor need jobs and investment in the manufacturing sector even at slightly lower economic growth would be more productive.

They said the shortage of skilled labour should not be a barrier to an all-inclusive economic growth. The government should evolve short, medium and long-term strategies. In the short term, labour-intensive industries should be promoted for which low skills are required.

In the medium term, short courses to produce medium skilled labour should be introduced to provide manpower to the industries with relatively lower technologies.

In the long term, efforts should be made to produce highly skilled manpower for hi-tech manufacturing.

They point out Nobel laureate Joseph Stilitz, in his recent visit to India, advised the economic planners to facilitate the construction industry that could absorb low-skilled labour. This could be true for Pakistan as well.

In fact, the government’s claim of poverty reduction in Pakistan emerged after heavy construction activities in the earthquake-affected areas and recent arrival of many foreign

http://www.thenews.com.pk/daily_detail.asp?id=56064

 

[Neo]

May 16, 2007
Exports to Georgia up by192.8pc

ISLAMABAD, May 15: Pakistan’s exports to Georgia recorded a 192.8 per cent growth during the fiscal year 2006 to $1.233 billion as against $685 million over the previous year.

This was stated by Commerce Minister Humayun Akhtar Khan in reply to a question by MNA Nawab Abdul Ghani Talpur seeking year-wise details of trade volume between Pakistan and Georgia during the last three years.

He said Pakistan’s major exports to Georgia include cotton fabrics, madeups articles of textile material, clothing and textile fabrics, cotton yarn and carpets and rugs. Pakistan’s major imports from Georgia include machinery and parts, chemicals and iron.

The minister informed the national assembly the trade between the two countries was insignificant. Georgia is a member of the former Soviet Union and is heavily under the influence of the Russian Federation.

He said Pakistan is currently negotiating a FTA with Russia. The FTA when finalised and implemented will also help increase trade with Georgia.

To another question, the minister replied that Pakistan’s exports to Armenia recorded a negative growth of 50 per cent to $186 million in the fiscal year 2006 as against $280 million over the corresponding year.

The minister said Pakistan’s major exports to Armenia include cotton fabrics, made-ups articles of textile material, chemicals and sports goods. The minister, however, did not mention the reasons for the significant fall in exports to the country. He presented the same recipe of saying that the proposed FTA with Russia would help increase trade with Armenia.

http://www.dawn.com/2007/05/16/ebr7.htm

 

[Neo]

Wednesday, May 16, 2007

Only 1.4% rise in oil, gas output

* Dull production not meeting energy needs

By Tanveer Ahmed

KARACHI: The local production of oil and gas has not reflected substantial growth as it grew it marginally by 1.4 percent in nine months of the current financial year.

The production in gas and production is almost flat and is not catching up with the fast growing energy needs of the country.

According to the data released by the Pakistan Petroleum Information Service (PPIS), the oil and gas production during July-March of the current fiscal totalled at 688kboepd (thousand barrels of oil equivalent per day), depicting a marginal increase of 1.4 percent as compared with the corresponding period last year. The data shows that oil production grew by 1.7 percent and gas production by 1.3 percent in the period under review over the same period of last year.

Local gas production increased to 3.9bcfpd (billion cubic feet per day) against 3.8bcfpd produced during the same period of the last fiscal. On the other hand, oil production stood at 66.4kbpd (thousand barrels per day), as against 65.4kbpd.

The country depends heavily on imported oil to meet its energy needs due to insufficient indigenous supplies. Because of more reliance on the imported fuel to cater the growing energy requirements, the import bill of the oil is soaring with each passing day. As the international price of the oil shot up in the last two years, the import bill of the oil has also gone up by tremendously, topping the import categories for the last few years.

Similarly, the gas production also could not keep up the pace with the increasing requirements, particularly by the industrial sector, which switched over to gas to meet needs.

The production data indicates that oil and gas production of Oil and Gas Company Ltd (OGDCL) remained flat at 190.5kboepd during the first nine months of 2006-07, as against 190kboepd in the corresponding period of last year.

Oil production alone, posting an increase of seven percent, stood at 40.8kbpd over 38.0kbpd in the same period last year. However, gas production declined by two percent, which stood at 0.93bcfd versus 0.95bcfd previously. Pakistan Petroleum Ltd (PPL) oil and gas production posted a decline of 1.6 percent to 160kboped from 163kboepd during the same period last year. Gas production during the period stood at 0.98bcfd versus 1.0bcfd – a decline of 2 percent on a year-on-year basis. Oil production of the company registered a growth of 41 percent, raising the oil production to 2.6kbpd in the period under review, as against 1.8kbpd previously.

The oil and gas production of Pakistan Oilfields Ltd (POL) stood at 13.7kbpeod as against 14.6kbpeod in the corresponding period last year, posting a decline of 6.2 percent. Gas production of the company, registering a marginal growth of 0.5 percent, rose to 0.05bcfd. However, oil production of POL registered a decline of 13 percent and stood at 6.2kbpd.

http://www.dailytimes.com.pk/default.asp?page=2007\05\16\story_16-5-2007_pg5_6

 

[Neo]

Wednesday, May 16, 2007

Punjab launches Drip Irrigation System project

LAHORE: The government has planned to launch a project of Rs 6.8 billion for installation of Drip Irrigation System on 100,000 acres in the province during the next five years.

Punjab Agriculture Minister Arshad Khan Lodhi stated this on Tuesday considering the severe water shortage in the province and embedded benefits of drip irrigation. He was addressing a seminar on the concluding ceremony of International Training Course on Drip Irrigation Technology arranged with the collaboration of government of Punjab and Ministry of Science and Technology government of China.

He said that in order to cope with the food requirements of the increasing population, we have no other option except to increase crop production by judicious use of our scare resources through enhancing productivity per unit of inputs especially water.

http://www.dailytimes.com.pk/default.asp?page=2007\05\16\story_16-5-2007_pg5_10

 

[Neo]

China Mobile Parent Buys 100% Of Pakistan Paktel For US$460 Million

HONG KONG -(Dow Jones)- China Mobile Ltd., the country's biggest mobile-phone operator by subscribers, said Wednesday its parent, state-owned China Mobile Communications Corp., bought 100% of Pakistan telecommunications operator Paktel Ltd. for US$460 million and renamed it CMPak Ltd.

"The parent company plans to invest US$400 million in Pakistan this year to expand the (CMPak) networks," China Mobile Ltd.'s chairman, Wang Jianzhou, said after the company's annual general meeting.

Wang said China Mobile Ltd.'s parent made the acquisition as investors in the listed unit were wary of risk, but China Mobile Ltd. might acquire the Pakistan operation from its parent in the future.

Wang said China Mobile Ltd. doesn't have a timetable to buy CMPak.

China Mobile Communications Corp. said in March it had bought 88.9% of Paktel.

http://www.cellular-news.com/story/23781.php