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Old August 10th, 2004, 10:34 PM   #1
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Business & Investment News

Pakistan's First IMAX Theatre to open in Lahore...

LAHORE: The city will have it first IMAX cinema along with an ‘Infotainment Park’ in front of Gaddafi Stadium by September next year, Punjab Culture Secretary Taimur Azmat Usman told Daily Times on Tuesday.

The project will cost an estimated Rs 400 million and will house a theatre, restaurants, shopping malls, a skating arena, science centre and other attractions, Mr Usman said.

There are 270 IMAX cinemas in the world, but the one planned in Lahore will be Pakistan’s first. The government has bought 92 kanals for the project and the Parks and Horticulture Authority has already begun landscaping.

An IMAX theatre screen is three times larger than the standard for cinemas that use 70mm film. The high resolution screen makes for a unique cinematic experience, taking audiences into unfamiliar worlds, flying high above the earth or diving under the deepest oceans. Audiences are immersed in larger-than-life images, making them feel as if they are literally in the picture.

The IMAX cinema’s uncompressed digital wrap-around sound is unsurpa**ed in depth and clarity. A patented six-channel speaker system delivers exacting volume and quality to every seat in the cinema. From a small drop of rain to a ma**ive clap of thunder, audiences experience every shade and subtlety, regardless of where they sit.

“It has a large-scale format and completely fills a viewers field of vision and makes them feel like a part of the movie. We plan to install both two-dimensional and three-dimensional screens,” the culture secretary said.

“Most IMAX cinemas are based in institutions as most of the films in this format are educational. Commercial films are also being made for or converted into the IMAX format and we plan to screen them here as well, so the cinema will be educational and entertainment.”

Work on the project starts in September and should be complete in one year. “The feasibility process is being conducted for awarding consultancy,” Mr Usman said.

Mr Usman also said the Punjab government would take over historic places listed under the World Heritage Fund, i.e., the Shalamar Gardens and the Lahore Fort, from the federal government on July 1.

He said the Punjab government plans to form a board of governors to manage these historic sites. “We plan to create a Special Heritage Fund which we hope to start off with Rs 100 million. This will allow us to spend the money directly. We also want to bring in international experts to help us preserve these places,” he said.

http://www.dailytimes.com.pk/default...story_30-6-200 4_pg7_20
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Old October 30th, 2004, 11:21 PM   #2
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Business & Investment News

GCC sees Pakistan as investment destination

ISLAMABAD: Kuwaiti Foreign Minister, Dr.Muhammad Sabah Al-Salem Al-Sabah has said that Gulf Cooperation Council (GCC) would like to see Pakistan as a destination for investment.

“We would like to see Pakistan not only as source of brilliant, industrious labour force in the GCC but also a destination for investment”, the Kuwaiti FM told a news channel Saturday.

He said the GCC is keen to start free trade with Pakistan and hoped the process would commence before the end of this year.

Pakistan is strategically located and can become a hub of regional as well as international trade. “We know that one who controls the Khyber Pass also controls quite a larger chunk of Asian continent”, he said adding Pakistan is that lucky country.


Similarly he said, Kuwait is also located at the Northern end of Gulf and the country is committed to develop itself as a major transportation, distribution and storage hub to service the Iraqis, Iranian and the Central Asian States.

He said the two geographies are very unique, very important and they can complement each other. Politically he said, Pakistan enjoys very strong ties with the Gulf nations particularly Kuwait.

He said Pakistan played a very good role when Kuwait was invaded by Iraq. To a question on Kashmir he said, “we think the sanctity of UNSC’s resolutions should be respected and observed by everybody.” To another question he said, sacking all the Bathists in Iraq was not a wise strategy on part of United States and they have now begun to realize their mistake.

Responding to another question he said, President General Pervez Musharraf’s idea of enlightened moderation needs serious efforts on part of OIC to translate it into reality. app

http://www.dailytimes.com.pk/default...9-8-2004_pg5_5
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Old October 30th, 2004, 11:27 PM   #3
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Chinese trading platform officials keen to invest in Pakistan

KARACHI (October 27 2004): Officials of a huge Chinese trading platform have expressed their desire to make investment in Pakistan and to co-operate with the Pakistani business circles.

This was stated by Chinamex Mart Vice-President David Xu and Marketing Department Executive Michelle Zhu, now on a three-day visit to Pakistan, when they called on the acting President of Karachi Chamber of Commerce and Industry (KCCI), Mian Abrar Ahmed, on Tuesday.

During the meeting, they Chinamex Mart officials exchanged views with Mian Abrar on ways and means for promoting trade activities.

"We have come here for the promotion of trade and business between China and Pakistan," David Xu told reporters after the meeting with the acting President of KCCI.

David Xu said: "We also have plans for investment in Pakistan and also to co-operate with the Pakistani business circles."


Mian Abrar said that the possibilities were explored for the setting up of joint ventures.

He said that after the enforcement of the World Trade Organisation (WTO) regime in January 2005 there would be a problem for the Pakistani entrepreneurs and exporters to market their products abroad in competition with the Chinese products.

"So we have suggested that we should have joint ventures with the Chinese entrepreneurs so that we could jointly market our respective products in the international market," the acting chief of KCCI further remarked.

He said he also proposed that "we are setting up a textile city as well as a garment city in Port Qasim here where we can also join hands to export our products abroad jointly and we can share the profits and also have mutual understanding in the international market while marketing our products there." He said.


Mian Abrar said: "We have requested the Chinese to set up a mart in Karachi on the pattern of the one they have established in Dubai.

Meanwhile, Chinamex Mart Vice-President David Xu, told APP the Chinamex Mart, which has been set up in Dubai, would be inaugurated on December 6.

He said this was world's largest Chinese trading platform outside China set up with a cost of about 300 million dollars.

David maintained that it would allow Pakistani companies to view and acquire quality industrial technologies and other products from 3,000 Chinese companies directly, inexpensively and with ease.

He pointed out that the Chinamex Mart was a 1.2 kilometre dragon-shaped pavilion, covering 150,000 square metres.

It would house 3,000 Chinese companies providing a wide range of products from sophisticated logistics systems to quality industrial equipment to an immense range of consumer goods, he said, adding it would serve the Middle East, Africa, Eastern Europe and South and Central Asia.

The facility would include 20 negotiation rooms, a business centre, offices and lounge areas. A fully-equipped multi-function meeting hall, conference rooms and offices.

Copyright Associated Press of Pakistan, 2004
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Old October 30th, 2004, 11:28 PM   #4
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BD firm keen to invest

ISLAMABAD: A Bangladeshi leading industrial group has shown interest in making investment in Pakistan, said press release issued on Friday.

Naved Husain, group director of Beximco and chief executive officer Beximco Textiles of Bangladesh made this offer during a meeting with President Pervez Musharraf in Islamabad on Friday.

Beximco is the largest textile group in South Asia. It is also a major investor in pharmaceutical, real estate and ceramics in Bangladesh. Mr Husain held a detailed meeting with the president and informed him of his group’s intentions to venture into Pakistan’s growing economy. “Investment in a vertical textile project is the main area, but Beximco is also planning to establish a chain of super stores in Pakistan and marketing of Bone China tableware products,” Mr Husain said. Beximco group comprises 20 percent of the total value of the Dhaka Stock Exchange. Its textile wing produces over 50 million meters of woven fabrics as well as 5,000 tons of knits with a capacity to finish over 50 million garments. —Staff Report

http://www.dailytimes.com.pk/default.asp?p...9-10-2004_pg5_6
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Old October 31st, 2004, 03:53 AM   #5
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Malaysia offers investment in industrial sector

ISLAMABAD (October 31 2004): A two-member Malaysian delegation, led by Teo Ah Khing, called on Federal Minister for Industries, Production and Special Initiatives, Jahangir Khan Tareen and expressed its interest to invest millions of dollars in various sectors in industrial and manufacturing sectors in Pakistan.

The investors offer setting up of timber & furniture industries and by-product of Steel Mill like ash in Karachi to promote the construction industry in Pakistan. They also showed interest in establishment of electrical storage systems as well as setting up of petrochemical industry in Pakistan.

The minister while welcoming their offer said that Pakistan was pursuing a liberal industrial policy, which aimed to attract investment through joint collaboration by creating an investor-friendly environment, with a focus on further opening up the economy and marketing potential for direct foreign investment.

The minister informed the delegation that infrastructure and telecommunication and road network are being expanded to encourage the investors to come forward for making investment in the industrial sector as well as to meet the challenges of growing economy.

He further informed the delegation that the Gwadar Port is an ideal location, where foreign investors can explore the possibility of investment in the fields of petrochemical, steel products and other export-oriented industries as the government has declared Gwadar as Duty Free Zone, he added.

He said that the Gwadar Port and Free Trade Zone would have access for South Asian Central Republics and Afghanistan through land route. He further said: "The government of Pakistan is planning to set up a world class industrial park near Port Qasim to invite foreign investors to make investment.

The minister assured the delegates his full support to provide every facility to them in making investment in Pakistan. Leader of the Malaysian delegation Teo appreciated the economic reforms introduced by Pakistan during the last five years. He was of the view that Pakistan now offers great incentives and a conducive environment for making foreign investment. He thanked the minister for extending his support.

Copyright Associated Press of Pakistan, 2004
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Old October 31st, 2004, 04:30 AM   #6
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Investment climbs on high demand

KARACHI: State bank of Pakistan (SBP) said on Saturday that in real terms total investment increased by 12.4 percent during 2003-04 fiscal year compared to 5 percent rise in the preceding year.

In its annual report on the state of economy, the bank said share of the private sector in real investment was 71.2 percent while rest was contributed by the public sector.

It said fixed investment by private sector rose by 7.9 percent during the year under review, while fixed investment by public sector depicted a surge of 35.8 percent.

It reported 22.3 percent surge in total investment, in nominal terms, during 2003-04, compared to an average of 7 percent during the last three years. The report said this recovery was largely driven by investment in large-scale manufacturing, transport and communications and services sector. The bank said despite a significant increase of 17.6 percent in real public sector investment in agriculture sector during 2003-04 fiscal year, total investment in the sector declined 6.1 percent due to a negative contribution by the private sector.

Whereas, exceptional growth of manufacturing value added of the country was helped by a very strong 25.1 percent year-on-year increase in real fixed investment in this sector during the period under review. The share of manufacturing in total fixed investment increased to an all time high of 29.8 percent from 26.8 percent in 2002-03, the bank added.

The bank said real investment in transport and communication sector recorded a growth of 32.7 percent year-on-year during the period under review and added a marginal decline of 3.1 percent year-on-year in private investment in this sector was offset by a significant rise of 85.6 percent year-on-year in public sector investment during 2003-04. The rise in public investment in transport and communication is mainly attributed to the additions of aircrafts to the PIA fleet and expansion in facilities of Pakistan Railways, the bank said.

Foreign direct investment: The bank said the country’s FDI to GDP ratio remained at 10.7 percent in 2003. The FDI inflows in Pakistan are still below $1.0 billion mark, it said and added this serves to highlight the need to further improve the investment climate in the country.

It said services sector attracted the highest share in FDI followed by oil-gas, mining and quarrying. “The share of trade, transport, storage and communication in total FDI rose from 19.2 percent in 2002-03 to 28 .0 percent in 2003-04 followed by financial business with a share of 25.5 percent.”

The increased FDI in communication sector stemmed from entry of new cellular phone companies in the country, while the rise in FDI inflows in financial business is mainly due to privatisation of a large public sector banks, the bank said.

The bank said FDI from UK and Saudi Arabia decreased 70.4 percent and 83.4 percent, respectively. The decrease in FDI from UK is due to heavy disinvestments in the power sector, the bank added. One-fourth of the FDI inflows were from USA followed by Switzerland and UAE with shares of 21.6 percent and 14.2 percent, respectively. —Staff Report

http://www.dailytimes.com.pk/default...10-2004_pg5_14
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Old October 31st, 2004, 05:51 AM   #7
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Mobilink investment to inflate to $ 1Bln by 2005

Pakistan Times Business & Commerce Desk

The investment on the part of Pakistan's most favourite Cellular Company 'Mobilink' will swell to one billion dollar mark by the year 2005. An announcement to this effect was made in a statement here on Wednesday. It said that the Mobilink is the first cellular services provider in Pakistan to operate on a 100 percent digital GSM technology and as market leader offers both post-paid (INDIGO) and prepaid (JAZZ) solutions, including advanced voice communication services. The statement said that the company contributes significantly to the economic development of Pakistan besides various charities. Mobilink has injected 275 million dollar in the industry in 2004 alone, bringing its aggregate investment to 750 million dollars since its inception in 1994. 'Pakistan Times' understands that this amount is expected to inflate to 1 billion dollar in 2005.

Besides spearheading the communication revolution in the country, Mobilink runs a parallel pursuit aimed towards the development and facilitation of the underprivileged in Pakistan. An announcement of the organization here on Wednesday said that Mobilink recently sponsored the Second International Human Resource Development Congress where Zouhair Abdul Khaliq President and CEO, Mobilink, commended the role of NGOs in the process of human development and affirmed the contribution of the private sector towards this moral duty. In pursuance of its commitment, Mobilink has donated a medical van with a full stock of medicines to the Khidmat Foundation, an NGO operating in rural Punjab. The vehicle will help in the timely transportation of medicines and supplies to surrounding rural areas.

The vehicle and stock of medicines were presented to Admiral(Retd) Saeed M. Khan, President Khidmat Foundation by Zouhair A.Khaliq, President and CEO, Mobilink. "It is contribution from moral corporate citizens like Mobilink that make our work possible and the task worthwhile," complimented Admiral (Retd) Saeed M. Khan, President Khidmat Foundation. "This contribution by Mobilink will help the timely supply of medicines to otherwise inaccessible areas and thus to some could mean their life," he added. Commenting on the occasion, Mobilink's President and CEO Zouhair A Khaliq said, "It is an honor to be able to serve the people of Pakistan through more than just our services. We are pleased to know that this humble gesture would help make a difference in the lives of many." "I would like to ensure that such initiatives would remain a part of our contributions towards the people of Pakistan in years to come."

http://www.pakistantimes.net/2004/10/28/business1.htm
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Old November 24th, 2004, 08:39 AM   #8
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Swedish businessmen invited to invest in Pakistan
RECORDER REPORT

LAHORE (November 24 2004): President Lahore Chamber of Commerce & Industry (LCCI) Mian Misbah ur Rehman has invited the Swedish businessmen to come forward and make investment, to take the advantage of investor friendly policies of Pakistan. He expressed these views while talking to a high-powered Swedish delegation headed by Jan Palmstierna, Ambassador Chief Co-ordinator for Trade and Investment Promotion, Sweden.

The Swedish delegation comprising businessmen from engineering, transportation, steel and dairy sectors visited the LCCI and discussed ways and means to enhance trade with their Pakistani counterparts.

Misbah said the structural reforms and financial discipline have transformed the country into a stable growing economy.

Addressing on the occasion, the head of Swedish delegation Jan Palmstierna said that the main purpose of Swedish delegation's visit is to broaden trade relations between the two countries. He said that Swedish expertise and resources have played an important role in the development of various markets.

He was of the view that involvement of Swedish international companies in different projects has often led to the transfer of know-how, training and local investments, and development of local industry. In many cases, he said Swedish agencies and commercial banks have been able to support projects and investments through favourable financing terms.

'Sweden not only actively promotes export from Sweden but also import from Asian countries. Many Swedish companies are engaged in import from Asia to Sweden and to other markets in which they are active. It is a common interest of the government and the private sector to further enhance import, both by pursuing a liberal trade policy and by promoting import commercially. One way of doing this is to explore new markets', he said. The delegation will thus also look into new opportunities for Pakistani exports to Sweden and other markets, he added.

Speaking on the occasion, the LCCI president said that exchange of trade delegations always bring positive results in bilateral trade and present visit by a high-powered delegation would prove fruitful for both the countries. He said Sweden being important member of the EU could help Pakistan in entering the market of European Union. Throwing light on Pakistan's economy, Misbah said that Pakistan's economy has made significant progress over the last five years. The structural reforms, practical macroeconomic policies, financial discipline have transformed Pakistan into a stable and growing economy. A broad-based economic recovery has already gained momentum, and the balance of payments is much stronger today than ever before. Large-scale manufacturing was targeted to grow by 8.8 percent in 2003-04 but due to encouraging government policies it has surpassed the target and registered a growth of 18.1 percent. With the help of wide-ranging tax reforms, revenue collection has increased by 68 percent during the last five years with no additional tax measures in the budget.

Addressing the participants, the LCCI Senior Vice President Sohail Lashari said that there is a dire need for developing close liaison between private sectors of Pakistan and Sweden. 'We must adopt modern techniques for exchange of information and carrying out market research', he said.

Lashari said that the Lahore chamber would extend total support to improve trade ties between the two countries.

Speaking on the occasion, the LCCI Vice President Sheikh Muhammad Arshad said that potential of joint ventures exist between the two countries in agriculture, construction, Information Technology, textile and tourism sectors. He said that two-way communication would go a long way in exploiting the potential and developing economic relations between the two countries. He said that the LCCI always advocates frequent interaction among the businessmen of Pakistan and Sweden and for this purpose the LCCI would extend all possible support.

Copyright Business Recorder, 2004
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Old November 24th, 2004, 08:43 AM   #9
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Thai Muslim investors' team arrives

KARACHI (November 24 2004): An investors' delegation, headed by Thai-Islamic Trade and Industry Association President Anirut Smuthkochorn arrives here on Monday night on a two-day visit. This was announced by an official of the E-commerce Gateway, Pakistan. He said that the president of E-commerce Gateway Pakistan, Dr Khurshid Nizam, is accompanying the delegation.

The visiting delegation will call on the Sindh Governor, Dr Ishrat ul Ebad Khan, and is also scheduled to meet chief players from the sectors of construction, fisheries, fruits and vegetables to provide a platform for discussion on the investment opportunities in these sectors in Pakistan.

The official of E-commerce Pakistan further stated that the visiting delegation has shown interest in construction projects, food processing and fish farming in Pakistan not only for the common business gain for both the parties as well as progress in these sectors but also for improving trade ties between Pakistan and Thailand.

Copyright Associated Press of Pakistan, 2004
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Old November 26th, 2004, 04:39 AM   #10
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there are a lot of rich pakistanis living in North America and Europe, we should invest in pakistan's infustructure. One of the problem is that here in North America we barely here about what is going on in Pakistan, and this is one of the reasons of few investments coming from here to pakistan. I mean Pakistanis living here dont even know anything about gwadar.
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Old November 26th, 2004, 11:06 PM   #11
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This project isn't for your average person; were talking about millions of dollars here. Once the city is complete (infrasturcture) then the government should extensivly market this city to the international community especially the expats who want to come back. It will be a brand new city and up to the world standards in basic needs; for now the average person can't do very much except wait and see what happens.
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Old November 26th, 2004, 11:31 PM   #12
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the location of gwadar is ideal to become a tourist town
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Old November 26th, 2004, 11:32 PM   #13
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Quote:
Originally Posted by cntower
This project isn't for your average person; were talking about millions of dollars here. Once the city is complete (infrasturcture) then the government should extensivly market this city to the international community especially the expats who want to come back. It will be a brand new city and up to the world standards in basic needs; for now the average person can't do very much except wait and see what happens.
Yes but, if many people invest those millions of dollars needed could be easily achieved. there are many millionaires pakistani's living abroad
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Old November 30th, 2004, 05:53 AM   #14
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Foreign Firms Keen to Invest in Pakistan Banking: Salman

ISLAMABAD, Nov 30 Asia Pulse - Adviser to the Prime Minister on Finance Dr Salman Shah has said that foreign companies have showed interest in telecommunications, oil and gas and banking sectors. He was talking to Ambassador of Saudi Arabia in Pakistan Ali Saeed Awadh Asseri who called on him in his office. Matters relating to bilateral relations, enhancement of economic and commercial ties came under discussion.

Salman Shah briefed the ambassador about the turnaround in Pakistan's economy. He informed the ambassador that as a result of the economic reforms introduced by the government during the last five years Pakistan's economy has gathered momentum.

All macro-economic indicators are showing improvement. The debt and balance of payments situation has improved.

Salman Shah said that two foreign companies got mobile licences. The privatisation programme is proceeding ahead and providing opportunities to local and international investors.

Wide-ranging structural reforms, prudent macro-economic policies, financial disciplines and consistency and continuity in policies have transformed Pakistan into a stable and resurgent economy.

He said that the government is particularly focusing on attracting foreign investment in the country. Pakistan is following an open market policy and foreign investors have been provided a level playing field.

This coupled with complete transparency in transactions has resulted in enhanced level of investments. During the last financial year foreign direct investment touched $1 billion.


http://asia.news.yahoo.com/041129/4/1sd07.html
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Old November 30th, 2004, 06:19 AM   #15
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Energy, infrastructure projects: $300 million deal signed with Brazilian consortium

RIO DE JANEIRO (November 29 2004): A Brazilian consortium and a Pakistani-Canadian company, Hashwani and Son Inc, signed a $300 million agreement for the development of energy and infrastructure projects in Pakistan. The signing ceremony, taking place during President General Pervez Musharraf's visit to Brazil, was attended by Minister of State for Privatisation, Umar Ahmed Ghumman, who is member of the President's entourage. The agreement is focused on the establishment of wind energy project for 500 MW power generation, and development of infrastructure in Pakistan.

The agreement was signed by Frederico Robalinho de Barros and Jesus Ferreira Filho of Brazil Energy Power Corporation and MPE Group, the two companies representing the Brazilian consortium, and Abdullah Hashwani of Hashwani & Son Inc.

MPE Group is a billion US dollars plus company involved in turn-key projects in various sectors including petroleum, steel, ports, engineering and agribusiness in Brazil and several countries.

President Musharraf arrived here late on Saturday night at the start of a three-day visit to Brazil, expressing hope that his talks with Brazilian leaders would help forge Pakistan's strong political and economic ties with the important Latin American country.

Talking to PTV on his arrival at Rio de Janeiro, the President said, "I am probably the first Pakistani leader coming here, therefore I see a very bright future in economic, commercial and trade ties between Pakistan and Latin American countries and Brazil in particular.

At the Galeao airbase, the President was received warmly by acting Governor of Rio de Janeiro in a rare gesture of goodwill as normally the visiting leaders are received by protocol officials.

Musharraf's visit has generated a lot of interest as was reflected in the coverage of his arrival by leading media networks.

In Brasilia, the President will hold talks with his Brazilian counterpart Lula De Silva with a focus on augmenting trade and economic co-operation including joint ventures in promising areas.

The two countries are likely to sign agreements on boosting bilateral ties.

He will also interact with the Brazilian entrepreneurs to highlight the vast potential for bilateral trade and inform the local business leaders about Pakistan's recent economic turnaround.

Besides, Commerce and Privatisation Ministers and a strong delegation of businessmen accompanying the President will also hold talks with their counterparts to identify areas offering potential trade opportunities.

The weeklong visit of President Musharraf to the region will also take him to Argentina and Mexico.

Copyright Associated Press of Pakistan, 2004
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Old November 30th, 2004, 06:20 AM   #16
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US firm to invest $1.2bn in Wind Power

By Our Staff Reporter

ISLAMABAD, Nov 8: A US-based energy firm plans to invest $1.2 billion in Pakistan's wind power generation sector in Sindh province, the Ministry of Finance said in a statement.

Chief Executive Officer of Access Energy Group International (AGI) of the United States, Shahid Naeem met with Minister of State for Finance Omar Ayub Khan here on Monday and informed him that his company was planning to invest $1.2 billion in Pakistan's energy sector over the next five years.

The company will develop a 100mw wind farm, extendable to 1,000mw, in the province. The initial investment for the first phase would be over $109 million to be brought entirely from abroad.

In the next five years, depending on the success of the first phase, AGI has made commitments to install 900mw generating capacity in the region.

The relevant memorandums of understanding (MoUs) for the above projects have been signed with Alternate Energy Development Board (AEDB) of Pakistan.

The minister was informed that AGI in cooperation with AEDB was also in the process of making arrangements for transfer of technology and for setting up a Solar Cell Manufacturing plant in Pakistan.

Working papers for this project have been finalized and companies with the manufacturing capabilities in Pakistan have been short-listed.

AGI has already acquired manufacturing rights for wind turbines in Pakistan. This will allow for a new industry to be set up in the country with worldwide export potential. The company is also planning to set up a training institute in Pakistan to develop human potential in the field of renewable energy.

The minister was further told that the AGI has commissioned a Canadian firm to manufacture Solar Power units with a 25kw capacity to be installed in different villages in Pakistan in order to provide a source for inexpensive electricity for small villages.

Mr Ayub appreciated that an expatriate Pakistani was working actively to bring big investments and technology in Pakistan. He said the continuous growth of Pakistan's economy has increased power demand manifold. It has now become imperative to take immediate steps to look for alternate sources of energy.

The minister said the government was encouraging foreign and local investment in the energy sector and was trying to remove all bureaucratic hurdles faced by the investors.

http://www.dawn.com/2004/11/09/ebr4.htm
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Old December 3rd, 2004, 01:18 PM   #17
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Dutch firm interested in setting up 30 super stores
LAHORE (December 03 2004): Makro, the leading cash and carry store chain of Holland has expressed interest in establishing some 30 super stores in Pakistan. "A team of the company will soon visit Pakistan to explore opportunities in this big market with over 150 million people," the chief executive officer (CEO) Pakistan Horticulture Development and Export Board (PHDEB), Shamoon Sadiq, told APP.

He along with other senior officials of the board had recently visited Holland and held meeting with Marko's chairman C.P. Klevers Makro Cash and Carry, a subsidiary of Dutch SHV company is already operational in five countries of Asia- Thailand, Indonesia, Malaysia, the Philippines and China with stores of food and other products.

Shamoon said that establishment of stores by a Dutch company with a total annual turnover of 12 billion euros, would be a good precedent for other European and US companies for investment in this part of the world.


Copyright Associated Press of Pakistan, 2004
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Old December 3rd, 2004, 07:11 PM   #18
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PTA expects investment of up to $8b in 5 yrs



ISLAMABAD: Pakistan’s state telecommunications’ regulator is projecting investment of $5 billion to $8 billion in the country’s cellular and fixed-line phone network over the next five years, fueled by the industry’s recent deregulation.

The expansion is likely to create 370,000 new jobs, the Pakistan Telecommunication Authority said in its annual report, adding the telecom sector’s share of gross domestic product is likely to increase to 3 percent from 1.7 percent in the fiscal year ended Jun. 30. It didn’t say how much it expects phone networks to expand in the next five years.

Pakistan’s telecom deregulation last year has attracted many private players to the sector, ending PTCL’s monopoly. Norway’s Telenor ASA (TELN) and some local groups are likely to start their operations within the next 8-12 months.

The government also announced plans recently to sell a strategic 26 percent stake, along with management control, in Pakistan Telecommunication Co. Ltd. as an integrated company to maximize its value and generate international interest.

Since deregulation, cellular phone subscriptions have been growing robustly. There were 6.5 million subscribers in September this year, from 2.4 million at the end of 2003. Pakistan’s teledensity reached 2.9 percent in the last fiscal year from 2.2 percent in 2000.

The authority said another 118 licenses were issued for card payphones services in the last fiscal year, six for audiotelephone services, and five for non-voice network communication services.

“I am conscious that despite we have achieved key milestones this year, there is much more to be done. Any issues which are likely to emerge after liberalization of the telecom services will be appropriately handled,” said Shehzada Alam, chairman of the authority, in the report.

Foreign direct investment of $207.1 million came into the sector in the last fiscal year, from $6.1 million in the previous year, through the sale of two cellular licenses. Separately, the authority generated Rs 30 billion through initial license fees for mobile services, long distance international services, local loops and wireless local loops.

In all, the authority has awarded 33 companies 84 local loop and 12 long distance licenses, while it issued 108 licenses to 20 companies for wireless telephone services.

“Keeping in view the importance of WLL technology in developing economies and the growth of WLL subscribers all across the world, we also decided to promote this technology and thus offered WLL licenses,” said Mr Alam. —Dow Jones Newswires

http://www.dailytimes.com.pk/default.asp?p...3-12-2004_pg5_5
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Old December 3rd, 2004, 07:14 PM   #19
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Pakistan's CNG Sector Attracts US$252.4 MLN Investment

KARACHI, Dec 3 Asia Pulse - Federal Minister for Petroleum and Natural Resources Amanullah Khan. Jadoon has said that the Compressed Natural Gas [CNG] sector attracted Rs.15 billion (US$252.44 million) investments during the last few years and Pakistan has become the leader in CNG industry in Asia and third largest CNG using country in the world.

He said this while addressing a 2-day conference on Pakistan-Iran Joint Cooperation in CNG sector here on December 1.

The conference is being attended by a 40-member delegation from Iran, representatives of Pakistan's CNG industry and the senior officials of the Ministry of Petroleum and Natural Resources and its public sector oil and gas companies.

Amanullah Jadoon said that world is changing into a global village and the regional co-operation has assumed special significance.

He said that although Pakistan and Iran share common religion culture and heritage together with several natural boundages, thus, CNG co-operation would open many new avenues of mutual benefit.

The Minister said that during the last few years, the government has, pursued major restructural reforms in the petroleum sector along with deregulation of key sectors of the economy.

He said that government is committed to encourage private sector participation to give boost to industrial development in the country.

The CNG sector is one of those sectors which have shown a remarkable performance during recent years due largely to investments by private sector under the supportive policy framework provided by the government.

Included as one of the initiatives for implementation of Millennium Development Goals of the United Nations.

He hoped that Pak-Iran Joint Conference would result in substitutive cooperation between the two countries in the areas of CNG infrastructure development institutional support and upgrading of services with emphasis on finding out ways and means that would lead to local fabrication of CNG plants and machinery in both countries in near future.

http://au.news.yahoo.com/041203/3/s0rr.html
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Old December 13th, 2004, 04:09 PM   #20
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Pakistan Puts in IMAX Theater
Thursday, October 28, 2004

New IMAX theater in the Punjab Province will be part of an entire new entertainment and shopping park.


By Lisa Johnson

What do you suppose they eat while watching a film in Pakistan? North America's IMAX Corporation is about to find out, as it joins with the Government of Punjab Province, Pakistan, to install the first ever IMAX theater in Pakistan.

The theater will be located in Lahore, Pakistan, and be part of a multi-function shopping and entertainment park the Punjab government is developing. Construction will begin soon, and the park is expected to open by September 2005.

"The IMAX Experience is drawing big crowds around the world, and it will provide a compelling reason for Pakistani people and tourists to visit our shopping and entertainment park - driving traffic to the surrounding attractions as well," said Taimur Azmat Osman, Secretary of Information and Culture and Youth Affairs, the Government of the Punjab. "The Lahore IMAX Theater will offer our citizens a way to learn about space travel, explore the ocean floor and experience some of today's biggest Hollywood releases in the most immersive film format."

The Lahore IMAX Theatre will serve as an anchor for a shopping and entertainment park that will include retail outlets, a food court, bowling alleys and other attractions. The theater will be capable of showing IMAX and IMAX 3D films, feature a 12,000-watt digital surround sound system and be among IMAX's largest, with a screen towering 71 feet high by 95 feet wide and the capacity to seat nearly 700. The first signing in Pakistan follows on IMAX's recent expansion in China, India and Russia, where consumer demand has helped fuel growth of the IMAX theater network.

http://www.filmstew.com/Content/Arti...ontentID=10004
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