PSMA
  Management
  Sugar Industry
  Acts and Orders
  Statistics
 
  Sugar Situation  
  Telephone Sugarcane Area
ectory Production and Yield (Graph)
  P S S T Projected 1947-2010
  Other Updates

««Previous Main Contents Nex

 
 History & Objective
 Registration
 Article of Association
 Members List 2009-10
 Previous Chairmen
 Annual Review
 Previous Annual Reviews
 Sugar History
 Photo Album
 List of Mills
 Capacity
 National
 International
 Pakistan Irrigation
 Sugarcane Plantation Area
 Location of Sugar Mills
 Prod, Marketing & Stock

         from I.S.O. Report "Survey of Sugar Crop Yield"

 
National Sugar Crop Marketing Years
of Main Sugar Producing / Consuming Countries
 
Jan / Dec 1 Apr / Mar May / Apr Jun / May Jul / Jun
Egypt Indonesia Brazil Argentina Australia
Kenya South Africa   Mauritius Bangladesh
Malaysia       Spain
         
Aug / Jul Sep / Aug Oct / Sep Nov / Oct Dec / Nov
Romania Canada                        China              Cuba    Thailand
Costa Rica      Guatemala
Colombia         France                        Mexico
Italy                 Nigeria
South Korea    Germany        Taiwan
Philippines       India              
Sudan              Japan             
Switzerland     Pakistan
Turkey             Panama
United Kingdom Poland
Venezuela       Sweden
United States
 European Union
Russia
Ukraine
Source:- Sugar: World Market and Trade    U.S.D.A

         from I.S.O. Report "Survey of Sugar Crop Yield"

 
10 Largest
10 Largest Sugar Producers 10 Largest Consumers
(in mln metric tonnes,raw value) (in mln metric tonnes,raw value)
           
1 Brazil 32.29 1 India 22.55
2 India 25.94 2 EU-27 20.47
3 EU-27 16.38 3 China 14.73
4 China 15.40 4 Brazil 11.86
5 Thailand 7.77 5 U.S.A 9.81
6 U.S.A 6.96 6 Russian Federation 6.18
7 Mexico 5.94 7 Mexico 5.03
8 Pakistan 5.00 8 Indonesia 4.61
9 Australia 4.62 9 Pakistan 4.54
10 Russian Federation 3.79 10 Egypt, Arab Republic 2.7
           
           
10 Largest Cane Sugar Producers    10 Largest Beet Sugar Producers
(in mln metric tonnes,raw value) (in mln metric tonnes,raw value)
           
1 Brazil 32.29 1 EU-27 16.12
2 India 25.94 2 U.S.A. 3.88
3 China 14.43 3 Russian Federation 3.79
4 Thailand 7.77 4 Turkey 2.15
5 Mexico 5.94 5 Ukraine 1.70
6 Pakistan 4.99 6 China 0.98
7 Australia 4.62 7 Japan 0.78
8 U.S.A 3.08 8 Belarus 0.54
9 Indonesia 2.90 9 Egypt, Arab Republic 0.53
10 Argentina 2.45 10 Iran 0.40

         from I.S.O. Report "Survey of Sugar Crop Yield"

 
World Sugar Balances (Oct / Sep)
in mln tonnes, raw value
  2009-10 2008-09 2007-08 2006-07 2005-06 2004-05 2003-04
 Production 159.042 154.225 167.188 166.153 150.164 140.801 142.251
Consumption 167.446 164.593 160.87 156.442 152.317 146.807 144.448
Surplus/Deficit -8.404 -10.368 6.318 9.711 -2.153 -6.006 -2.197
Import Demand 51.930 50.962 48.234 48.787 48.378 48.123 44.506
Export Avaiability 51.964 50.903 48.244 48.995 48.176 48.183 45.085
End Stocks 53.234 61.672 71.981 65.673 56.170 58.121 63.835
Stocks / Consumption ration in
31.79 37.47 44.74 41.98 36.88 39.59 44.19
%
               
Source: ISO world Sugar balance September 2009

         from I.S.O. Report "Survey of Sugar Crop Yield"

 
World Major Cane Sugar Producing Countries
5 Year Production & Ranking
1000 Tonnes Raw Value
S.No. Name 08-09 07-08 06-07 05-06 04-05 03-04 Ranking
1 Argentina 2,416 2,204 2,459 2,217 1,857 1,920 11
2 Australia 4,805 4,939 5,212 5,397 5,528 5,314 6
3 Brazil 34,755 32,984 32,495 27,815 28,266 26,359 1
4 China 12,533 14,869 11,680 8,704 9,216 10,256 3
5 Colombia 2,525 2,036 2,277 2,415 2,683 2,740 10
6 Cuba 1,350 1,446 1,193 1,239 1,349 2,530 15
7 Egypt 1,130 1,160 1,154 1,094 1,139 1,089 16
8 Guatemala 2,220 2,120 2,280 1,911 2,103 1,995 13
9 India 15,730 28,649 30,766 20,942 13,795 14,736 2
10 Indonesia 2,900 2,661 2,508 2,435 2,236 1,779 9
11 Mexico 5,169 5,754 5,551 5,502 6,002 5,359 5
12 Pakistan 3,466 5,153 3,826 2,813 3,176 4,344 7
13 Philippines 2,090 2,541 2,311 2,213 2,226 2,420 14
14 South Africa 2,269 2,282 2,220 2,520 2,318 2,297 12
15 Thailand 7,521 8,059 7,007 5,076 5,425 7,281 4
16 U.S.A 3,015 3,110 3,119 2,682 2,962 3,590 8
                 
  World Sugar Production 2008-09      
  Cane Sugar
118,017,000 Tonnes      
Production
  Beet Sugar
31,953,000 Tonnes        
Production
  Total
149,970,000 Tonnes        
Production
                 
  Note: Prod. Ranking based on (08-09)  
* Source F. O. Licht's October'2009    
* Production in Raw Value      
* Countries producing over 2.0 million tonnes included
          from I.S.O. Report "Survey of Sugar Crop Yield"
 
International Trade Market
Monthly Refined Sugar Prices US$ / Tonnes

 
Months 2000-01 2001-02 2002-03 2003-04 2004-05 2005-06 2006-07 2007-08 2008-09
October 259.25 224.63 214.76 184.95 247.18 311.84 376.08 279.93 337.08
November 242.94 248.45 224.00 191.43 248.43 288.26 371.24 285.35 330.67
December 241.39 253.96 225.95 203.00 247.46 329.98 348.04 304.27 319.58
January 248.45 261.89 228.00 201.87 256.42 383.10 329.82 338.00 347.70
February 234.78 238.09 242.00 210.28 266.65 440.51 328.00 365.12 388.35
March 226.18 238.31 231.42 233.54 265.23 450.92 335.91 353.48 392.24
April 233.89 222.43 223.56 246.64 258.71 471.02 314.79 352.52 405.16
May 258.15 227.28 219.37 236.76 259.02 481.07 322.85 333.05 444.87
June 279.53 220.77 212.82 236.50 277.90 461.46 312.32 356.92 445.45
July 277.77 225.81 217.03 260.50 324.10 460.63 313.05 379.85 468.42
August 266.30 227.31 215.06 260.16 326.25 400.16 285.99 397.20 556.93
September 234.99 213.52 197.50 245.21 323.25 379.34 277.61 387.62 576.71
Av. Retail Price 250.30 233.54 220.96 225.90 275.05 404.86 326.31 344.44 417.76
Source:  " LIFFE London / ISO"
 Strategy to be evolved to check inflation, price hike:
Prime Minister

LAHORE (August 21 2007): Infrastructure development, especially the construction of roads, provision of
potable water, electricity and gas supply, have brought about a positive change in the lifestyle of the people of
rural areas. Prime Minister Shaukat Aziz said this while talking to Punjab Chief Minister Pervaiz Elahi who
called on him here at Governor's House on Monday.

Development strategy in the province, reforms process, political affairs as well as organisational matters of
Pakistan Muslim League came under discussion during the meeting. The Chief Minister also apprised the Prime
Minister about the pace of implementation of ongoing mega projects in the province.

He said that President Pervez Musharraf would contest the presidential election between September 15 and
October 15 in accordance with the constitutional provisions and his re-election would ensure political stability
and economic prosperity in the country.

"Continuity in government policies would bring about economic development apart from further strengthening
democratic institutions. Pakistan needs consistent progress in all the fields as it is the only guarantee for the
sovereignty of the country," he added.

Terming the increased political activity in the country as a healthy sign, he said that democracy was being
strengthened and people were taking interest in the political affairs. He said the ongoing developmental projects
in Punjab were leaving a positive impact not only in the province but also on the overall economic situation of
the country.

He said that projects of development and uplift of the people have started yielding encouraging results and the
standard of living of the masses has improved. He said that national internship programme is being promoted in
an effective manner in Punjab which will result in improving professional skills of youth for availing job
opportunities.

The Prime Minister also appreciated the development strategy and reforms process in the province and
expressed satisfaction over the pace of implementation of development projects. He said that local governments
have undertaken commendable development activities, which is a proof of the fact that the devolution of
powers has proved very useful.

The Chief Minister said that collective efforts of provincial and federal governments were resulting in relief to
the masses due to which PML would achieve a thumping victory in the forthcoming general elections. He said
that a burn centre was being set up at Jinnah Hospital at a cost of Rs 860 million. He thanked the Prime
Minister for bearing 50 percent cost by the federal government on the setting up of the burn centre.

He said that reforms programme in education, health and other sectors of development and execution of
development projects have resulted in considerable decrease in poverty. He added that infrastructure is being
improved in the province under a comprehensive programme and substantial resources are being utilised on the
improvement of means of communication.

He said that Punjab government has initiated a programme for rehabilitation of the families living below
poverty line and an amount of Rs 500 per month would be given to such families. He said that 4.3 million
members of 600,000 destitute families would benefit from this programme.

Talking to Punjab Governor Khalid Maqbool during a meeting, Prime Minister Shaukat Aziz said that the
government has devised a comprehensive strategy to check inflation and price hike. The government, he said,
was taking appropriate measures to ensure that prices should remain stable during the holy month of Ramazan.

The rising demand and improved buying power of the people was one of the factors for inflation, which would
be checked through adequate supply of items of daily use at reasonable rates, the PM added.

"The people of Pakistan are generally religious, peaceful and hardworking. However, certain elements profess
such tendencies which are inconsistent with socio-cultural and religious beliefs of people. As such, they
occasionally attempt to create law and order situation which causes embarrassment not only to the country but
to the people also. The government was fully capable of handling such elements and protecting lives of the
citizens," he said.

Khalid appreciated the policies of the government and hoped that this would bring a positive change in the lives
of the people. He also apprised the Prime Minister of various development projects initiated by the Punjab
government.

Business Recorder [Pakistan's First Financial Daily]

 
Sponsored Links

08-22-2007, 08:21 AM   #5597 (permalink)

Judas Iscariote
Banned Members

President stresses need for political

 
stability: 'Vision 2030' launched

ISLAMABAD (August 22 2007): President General Pervez Musharraf on

 Tuesday urged the political power holders in the country to maintain a stable
political environment for continuity and sustainability of development policies,
and to make the 'Vision 2030' a reality.

 
"We have to have a stable political environment," he said at the launching
Join Date: Nov 2005
Posts: 326
ceremony of 'Vision 2030' programme, held at Aiwan-e-Sadr. The 'Vision'
envisages a roadmap for future development in key areas of national importance.
Countries:
Thanks: 3,432
The gathering being addressed by the President comprised National Assembly
Thanked 3,679 Times in 2,382
Posts Speaker Amir Hussain, Governors and Chief Ministers of NWFP and
Balochistan, federal ministers, parliamentarians, federal secretaries, diplomats
and senior government officials.

The President spoke of the 'Vision' that looks for a "developed, industrialised,
just and prosperous Pakistan through rapid and sustainable development in a
resource-constrained economy by deploying knowledge inputs."

He called for a "balanced political approach" to allow the government, coming

through a fair and transparent election, to continue for five years so that it can
focus on the plans and achieve the objectives.

He said that in the run-up to the election, it was extremely important that "we
develop national consensus on issues, challenges and threats. We have to
generate political reconciliation to meet those [threats] and finally ensure good
governance." The President said: "If we can meet these, Insha Allah, Pakistan has
a very bright future ahead." He said that it was also vital that "we maintain
harmony externally, peace within and peace without."

In this connection he referred to the efforts being made for peace with India and
the approach to ensure that things stabilise in Afghanistan and on the borders
within the Federally Administered Tribal Areas (FATA). "We have to achieve
these targets so that our 'Vision 2030' continues moving unimpeded by these
centrifugal forces that may harm it and may create obstacles."

The President said that it was the duty of every government to ensure security,
progress and development of a nation and wellbeing of its people. He said that
security of Pakistan was paramount, and stressed that it never could come from
weakness, but from strength.

"Our potential to deal with external threat must remain always," the President
said, and added that "at the same time, the government must be able to maintain
security from internal threats".

He mentioned a series of challenges, like population growth, shortage of water

resources, food and energy security, environmental issues, and globalisation, and
said: "We have to surmount all these boldly, and cannot brush these under the
carpet."
Otherwise, the President said, the challenges like power generation, scarcity of
water, issue of construction of major water reservoirs, population growth and
"the forces that are in conflict to our national harmony and integrity" would
create obstructions at a later stage.

"They erupt as challenges ... we cannot do this anymore ... we must face these
challenges boldly, confront them and defeat them and carry on going on the path
of our future vision," the President said.

Musharraf said there was need to develop infrastructure and communication, and
termed it vital for the country's development. He said that it was important to
convert the railways tracks to standard gauge and to have faster trains to create
linkages with Central Asian Republics and country's sea ports.

He talked about the need for larger water reservoirs to preserve the precious
water resources, besides brick lined water courses and canals to irrigate larger
areas.

The President referred to the country's large coal reserves and said that China
was meeting 70 percent of its energy requirements by using coal. He said that
Pakistan has huge untapped potential, including alternative sources for energy,
which also needed to be exploited.

President Musharraf called for achieving greater food security through yield and
area intensification. He said there was wide scope for growth in the livestock and
dairy sectors where, with even little investment, good results could be achieved
rapidly.

"The 'white revolution' must be pursued vigorously, bringing the rural areas at
par with the developed areas," he said. He called for managing the population
growth, besides protection of environment, countering deforestation and building
road, rail, energy and pipeline links with the Central Asian Republics.

The President said that industrialisation was very vital for the country's progress
and development, and added hat the government was offering numerous
incentives to foreign and local investors.

He said that welfare of the people was at the centre of all developmental
activities, and added that poverty had been reduced from 33 percent to 24.3
percent due to government efforts and pointed that still one person out of four
was very poor, but vowed that "we cannot allow this to continue".

He pointed to the need for human resource development and improving the
quality of the population. He said there was also need to concentrate on primary
and secondary healthcare, besides having holistic approach towards education.

He stressed neesd for skill development as part of growing industrialisation and

said that greater synchronisation between the universities, industry and
 vocational training was required.

He talked of the ambitious programme of establishing nine foreign universities in

the country to impart quality education to the ypuths. Earlier, Prime Minister
Shaukat Aziz presented the 'Vision 2030' documents to the President.

Business Recorder [Pakistan's First Financial Daily]

 
08-22-2007, 08:24 AM   #5598 (permalink)

Judas Iscariote
Banned Members

Little risk to Pakistan's economy

 

KARACHI (August 22 2007): On August 7, 2007, US central bank policy makers

came up with a declaration that inflation remained their primary target. In other
words, it also meant that Federal Reserve's monetary stance would remain tight
  until they succeed in containing inflation.
Join Date: Nov 2005
Posts: 326
Surprisingly, the announcement was made despite strong signs emerging from the
Countries: US market of Subprime mortgage market collapse. Estimates suggest that total
Thanks: 3,432 asset investment in Subprime, the 10th largest loan provider in the US,debt this
Thanked 3,679 Times in 2,382
year could be $300 billion.
Posts

The size of the US market for mortgage is said to be a little over $2 trillion
industry. In July, disclosure made by Bear Sterns head fund of its Subprime debt
holdings rocked the financial market. But announcement by BNP Paribas on
August 9 that the bank had decided to freeze withdrawal on three investment
funds with assets of euros two billion ($2.7 billion) added fuel to fire, leading to
the current turmoil.

Soon after 9/11, the Fed decided to ease its credit stance and funds started rolling
into the economy, finding way into equity, bonds, housing and commercial paper.
US money market fund is said to be a $2.6 trillion industry, while estimates
suggest hedge fund is under $2 trillion market.

Banks regularly hedge their exposure by means of derivatives. The size of

derivative market is believed to be around $20 trillion. But funds such as short-
term commercial paper, which has a $1.1 trillion market, CD's and US treasury
bills, which are $2 trillion industries, are not hedged.

How quickly things change. Fed, which never stops thinking about inflation, has
suddenly stopped talking about inflation. In a short span of 10 days, ie on August
17, the turmoil in the global financial market forced Fed to lower its discount rate
by 1/2 percentage to 5.75 percent in an effort to provide liquidity after failing to
lift the market, despite injection of $350 billion (approximately) by the global
Central Bank.

Fed's discount window will provide 30 days loan facility to all home mortgages
and its related assets. Generally, banks avoid using this facility as the market
perception is that if a financial institution approaches the Fed discount window, it
is seen in trouble.

During the Gulf war in the early 1990s, overnight Fed fund rates soared to 90
percent, yet couple of banks were said to have preferred borrowing from the
market rather than approaching the Fed window.

Is it not very strange that frequent interventions by Central Bank are quite
contrary to the general perception of a free market economy? When a Central
Bank steps in to intervene in an underdeveloped country, such market is called an
unregulated market.

Hence, it is not considered a free economy and the so-called experts make a lot of
hue and cry. But in the present circumstances, the so-called financial gurus must
be full of praise for the Central Bank's act. If the turmoil further aggravates, they
will be looking for more such support in future.

Apparently, it looks as if the market is moving towards stability. This could be

temporary, but it may not be very encouraging until the market is aware of the US
financial market fiasco. It is likely to witness more volatility before getting back
to normal.

Big names such as Citibank, J.P. Morgan, BOA, BNP Paribas, UBS, Credit Suisse
and a large number of other good banks and financial institutions have been badly
hit and the damage is intensive, which has spilled over to big parts of Europe,
Canada, Australia, Japan and South Asian economies.

It is a worrisome news to know that French President Sarkozy in an urgent letter

addressed to German Chancellor Merkel has shown his concern about the
financial market turmoil and has questioned the rating agencies failure to issue
warning against a state of great anxiety and confusion in the market.

Creditworthiness of the two rating agencies Standard and Poor's and Moody's
Investors Service has been badly damaged for giving credit derivatives Triple-A
ratings, which indicated that they were as safe as US Treasuries.

So far it has lost 30 percent of its value. This year, the share prices of two rating
agencies, Moody's and S&P, too, have declined by 28 percent and 24 percent
respectively.

SUBPRIME'S IMPACT ON PAKISTAN'S ECONOMY Subprime mortgage

may have a global impact, but direct risk to the Pakistan's financial market is
minimal.

Except for the 1st Sukook bond worth $600 million issued by the Government of
Pakistan on January 27 2005, which was agreed on a six-month floating rate
basis, which has to bear the price volatility due to rising US interest rate, and now
due to global liquidity crunch, the LIBOR rates have been pushed higher. But
discount rate cut of 50 basis points suggests that Fed could ease its Fed fund rate
either before or by September 18 when FOMC meets. Any slash in US interest
rates usually favours borrowing cost.

While, the remaining of the euro bonds floated by Pakistan are fixed and therefore
will have no negative financial impact, the holders of bonds are nevertheless the
risk takers. The turmoil pushed bond yields substantially. As of August 15,
Pakistan's Euro bond with coupon rate of 6.75 percent that matures on February
19, 2009, rose by 1.806 percent to 8.556 percent.

Euro bond with coupon rate of 7.125 percent, maturing on March 31, 2016, was
up by 2.769 percent to 9.894 percent. Bond maturing on June 1, 2017, with
coupon rate 6.875 percent jumped up by 2.27 percent to 9.145 percent and 30-
year Euro bond maturing on March 31, 2036, was up by 1.663 percent to 9.538
percent.

The spike in short term yield is in line of demand in the international market
arising from short dated funds. In real terms, Pakistan is currently better placed by
floating $800 million Euro bond in March 2007 and presently is a net gainer by
over 100 basis points (approximately).

Pakistan may not enjoy the same type of spread if it decides to float Euro bond,
since the rating agency S&P has shifted Pakistan's outlook from positive to stable,
(positive means possibility of upward revision to high whereas stable stands for
neutral outlook).

Some risk could be seen in Pakistan's equity market, which out of $1.2 billion
SCRA funds could have 25 percent to 30 percent hot money. With Pakistan's
forex reserves comfortably hovering around $12 billion, it should not be a matter
concern.

Banks could be sitting with small risk, as available funds in F.E. 25 is Rs 2.3
billion, which is a residual quantity of liquidity for overseas investments, but
these funds are invested with the financial institutions, so risk could be minimal.

GLOBAL CONCERNS AND REMEDY Since the ongoing global financial

turmoil is not over, nervousness still prevails in the market. The US short term
Treasury bills yield tumbled on Monday. This is a much sharper fall than stock
market crash in October 1987.

The Fed would be watching the market carefully until its next FOMC policy
 meeting due on September 18. Stability would be the key factor for easing of Fed
rate. In 1997, when the issue of Long Term Capital Management rose, Fed cut its
rate by 25 basis points on three occasions.

European Central Bank's President Jean-Claude Trichet is said to be reconsidering

ECB's rate policy. European rate is currently 4 percent. While ECB is alert to take
further steps to avert credit squeeze and to stem the turmoil, it would be
interesting to note if the European Central Bank follows in Fed's footsteps to
ensure stability.

Another tool available with the Central Bank is that Fed could do a currency swap
with Europe to provide liquidity to the market. Euro could still be the currency of
choice due to healthy interest rate spread and wide corporate profit in Europe.
This could push euro to 1.4350 against the dollar.

Meanwhile, Japanese yen, which gained sharply on unwinding of carry trade, is

taking a breather. There is a huge risk of unwinding of carry trade positions that
could further strengthen yen to 107 per dollar by year-end.

However, the big question that remains to be answered is that how the world
would know that the global financial crisis is over, as the turmoil in the credit
market still looks far from over? The true consequences of global financial
turmoil will only be known several months or years hence.

Business Recorder [Pakistan's First Financial Daily]

 
08-22-2007, 08:32 AM   #5599 (permalink)

Judas Iscariote
Banned Members

‘Pakistan to sustain growth in foreign

 
investment’

ISLAMABAD: Pakistan will sustain the growing momentum of foreign

  investment and privatisation proceeds, which performed tremendously well and
Join Date: Nov 2005 attracted record amounts of $8.4 billion and $2 billion, respectively during the
Posts: 326 year 2006-07.
Countries:
Thanks: 3,432 Mr Zahid Hamid, federal minister for privatisation and investment stated this
Thanked 3,679 Times in 2,382 during a meeting with Mr Asif Ahmed, Director Asia Pacific for UK Trade &
Posts Investment who called on him along with UK’s Deputy High Commissioner here
on Monday.
 He informed that two GDR transactions of Oil & Gas Development Company
Limited (OGDCL) and United Bank Limited (UBL), attracted $811 million and
$650 million respectively on their listing at the London Stock Exchange.

The investment conferences and road shows held within Pakistan and abroad have
contributed significantly in the amazing increase in portfolio investment, he
added.

Mr Hamid stated that the economic reforms introduced by the government would
go a long way in the days to come.

GDRs of National Bank of Pakistan (NBP), Kot Aadu Power Company

(KAPCO), Habib Bank Limited (HBL) and others were proceeding according to
their tentative time frame.

The Minister lauded the interest of UK and US investors in the economic activity
of Pakistan while terming it encouraging and assured the visiting guests that
Pakistan was in the process of further improving its competitiveness and
facilitation arrangements for the foreign investors.

Mr Asif Ahmed appreciated the support being extended by the Pakistan High
Commission in Britain to British investors and hoped the exchange of investors’
delegations of both the countries would help a lot to improve the existing trade
and investment relations.

Daily Times - Leading News Resource of Pakistan

 
08-22-2007, 08:34 AM   #5600 (permalink)

Judas Iscariote
Banned Members

150 villages selected to supply water

 
through solar electrification

ISLAMABAD (August 22 2007): Pakistan Alternative Energy Development

  Board (AEDB) has selected 150 villages in Tharparkar district of Sindh province
Join Date: Nov 2005 to supply water under the framework of solar electrification of remote villages.
Posts: 326

Countries: The project titled 'Sustainable Development of Utility Scale Wind Power
Thanks: 3,432 Production' is being initiated in collaboration with United Nations Development
Thanked 3,679 Times in 2,382 Programme.
Posts
The villages selected in first phase for the feasibility study in Sindh are located in
talukas of Chachro, Diplo, Nangarparkar and Mithi. "The feasibility study of the
project would be launched within next few weeks and work on the project is
expected to get underway in the first quarter of 2008," an official of the AEDB
told APP on Tuesday.

He said that after completion of feasibility report the local communities would be
involved to identify their water needs. "Each water supply point will be set up at
maximum distance of half kilometer from the target houses," he elaborated.

It has been proposed that minimum quantity of 25 liters water per person will be
provided in a day. "The quality of water would be maintained as per standards set
by World Health Organisation (WHO)," he added.

Business Recorder [Pakistan's First Financial Daily]

 
08-22-2007, 08:34 AM   #5601 (permalink)

Judas Iscariote
Banned Members

Pak-German trade rises to $2bn per

 
annum

KARACHI: Bilateral trade between Pakistan and Germany has now risen to about
  $2 billion per annum and is likely to grow further.
Join Date: Nov 2005
Posts: 326 Pakistan’s economic indicators are healthy and we will encourage more trade and
Countries: investment with Germany. At present German exports to Pakistan were valued at
Thanks: 3,432 $1.2 billion and Pakistan’s exports to Germany $700 million annually, said
Thanked 3,679 Times in 2,382 Ambassador of Pakistan designate to Germany Shahid Kamal.
Posts

Speaking at a lunch hosted on Monday by the President Pakistan-German

Business Forum Qazi Sajid Ali that was attended by leading industrialists and
businessmen of both countries including KCCI President Majyd Aziz.

Shahid Kamal said that a high level German parliamentary delegation would visit
Pakistan next week.

“The intensity of ties between the two countries is quite strong and growing. I will
make efforts to change mindset of Germans towards Pakistan.,” he added.
 Qazi Sajid said that Germans’ interest in making more investment in Pakistan is
growing due to the efforts of the German Embassy, Consulate and their
companies. He called for more interaction at governmental, parliamentary,
educational, and cultural and NGO level between the two countries in order to
create a soft image of Pakistan. ppi

Daily Times - Leading News Resource of Pakistan

 
08-22-2007, 10:35 PM   #5602 (permalink)

Judas Iscariote
Banned Members

Saudi group wants to invest in mega

 
projects

KARACHI (August 22 2007): A delegation from Saudi Arabia, led by Sheikh

  Abdul Razzak, Chairman Bindawood Group, called on Sindh Chief Minister Dr
Join Date: Nov 2005 Arbab Ghulam Rahim at Chief Minister House here on Tuesday and showed their
Posts: 326 interest for making investment in mega projects.
Countries:
Thanks: 3,432 Senior member board of revenue, IG Sindh, Secretary (LU), Secretary to C.M,
Thanked 3,679 Times in 2,382 Chairman CM Inspection Team, prominent businessmen and other senior
Posts government officials were also present on the occasion. Later at simple ceremony,
a MoU related to proposed projects was signed. The ceremony was attended by
provincial secretaries and other guests.

Addressing the ceremony, the Chief Minister said that both Pakistan and Saudi
Arabia are brotherly Muslim countries bound together with fraternal ties and these
will continue to grow in all fields including business and trade. The Chief
Minister appreciated the objectives of MoU. Bindawood Group, he observed, is a
prestigious group with a very vast network carrying out score of projects in the
entire Kingdom.

Some of these included the largest Mall, chain of "A" class Hotels, top of the line
residential and office plazas, full range of Super Markets etc. He pointed out that
Bindawood Group has shown keen interest in investing in similar kind of projects
in Sindh in the first phase.

Business Recorder [Pakistan's First Financial Daily]

 
 08-22-2007, 10:36 PM   #5603 (permalink)

Judas Iscariote
Banned Members

Rs 167.8 million schemes in Jhelum near

 
completion

JHELUM (August 22 2007): Federal Minister for Population, Chaudhry Shahbaz

  Hussain had approved several development schemes of Rs 167.8 million for his
Join Date: Nov 2005 constituency NA-62 Jhelum-I last year, which have been completed, while rest of
Posts: 326 the project would be completed in the upcoming few weeks.
Countries:
Thanks: 3,432 These development schemes include power supply to the far-flung areas, road
Thanked 3,679 Times in 2,382 infrastructure, supply of Sui gas, installation of new telephone exchange,
Posts upgradation of filters and provision of clean drinking water.

Chaudhry Shahbaz Hussain, in a press release here, said that he had obtained
funds of Rs 40 million under the Khushhaal Pakistan Programme-II, while
amount of Rs 127.8 million under the Khushhaal Pakistan Programme.

While describing the details of development schemes, he said that 82 villages of

Constituency NA-62 Jhelum-I had so far been provided electricity from February
to August 2007, while the work on the 15 other schemes being underway.

More than 30 links roads have been constructed while several villages have been
provided Sui gas. The capacities of telephone connection have also been
increased in 28 telephone exchanges. Similarly, he said that the process of
installation of water supply plant is in initial stages and it would be completed by
the end of current year, he added.

Business Recorder [Pakistan's First Financial Daily]

 
08-22-2007, 10:36 PM   #5604 (permalink)

Judas Iscariote
Banned Members

Singapore and Brunei may recruit

 
Pakistani workers

KARACHI (August 22 2007): Singapore and Brunei are willing to recruit

 workers, both skilled and unskilled, from Pakistan, said an official of Overseas
Employment Corporation (OEC) on Tuesday. The official also revealed that
Federal Minister for Labour Ghulam Sarwar Khan and OEC Managing Director S
M Junaid were presently visiting these countries.
 
Join Date: Nov 2005
Posts: 326
During their visits, they held talks with the concerned people and apprised them
about the quality of Pakistani manpower, which could help enhance image of
Countries: Pakistani labour abroad, he said. He further said that the OEC was safeguarding
Thanks: 3,432
the interest of both the employers and the employees by adhering to moral
Thanked 3,679 Times in 2,382
Posts principles and high ethical values.

Legal support was provided to every registered Pakistani workers and the OEC
helped the employees understand the working conditions before going abroad. He
said that the government would start training programmes for unskilled
manpower, which sought foreign jobs.

Majority of technical institutes were teaching outdated courses and using old
equipment to enhance technical know how, he added. He said that Pakistan's
technical manpower was well-trained and diversified, having experience of
working abroad in fields of medicine, engineering, education, science, agriculture,
manufacturing, shipping, etc. He said the government would formulate a policy to
utilise the experience of returning Pakistanis as was done in Japan and Korea.

These countries used to send their manpower abroad only to polish their skills in
advanced working conditions and thereafter utilised their professional experience
for the growth of the country's economy.

Business Recorder [Pakistan's First Financial Daily]

 
08-22-2007, 10:39 PM   #5605 (permalink)

Judas Iscariote
Banned Members

Pakistan, South Africa agree to boost

 
economic ties

ISLAMABAD, Aug 21: South Africa and Pakistan have agreed to increase
  economic cooperation in all fields particularly in mining, steel, auto, chemical and
Join Date: Nov 2005 plastics, engineering and technology.
Posts: 326

Countries: This understanding was reached during a meeting held here on Tuesday between
Thanks: 3,432 officials of Engineering Development Board (EDB) and the visiting six-member
Thanked 3,679 Times in 2,382 South African delegation led by Willem van der Spuy, Director Department of
Posts Trade and Industry, Bilateral Trade Relations – Asia.

An official announcement said the delegation underlined the importance of

specific work programme in these sectors so that the relationship could be built on
sustainable basis.

The delegation assured that South Africa was keen to build partnership with
Pakistan on the basis of South-South cooperation policy of the country and would
like to increase interactions between the two governments and business
communities.

The South African delegation was visiting Pakistan after eight years’ gap.

EDB General Manger Zahid J. Yaqub gave a detailed presentation covering

macroeconomic indicators, investment environment, efficiency improvement
initiatives, production trend in automotive products, export processing zones and
potential sectors for enhancing cooperation.

He informed the delegation that a steel policy was under preparation covering
incentives to investors for steel-making at different parts of the country and
requested for South African help in steel production.

He added that Pakistan had learnt a lot from South Africa in auto sector and
formulated its new auto development programme based on pre-announced tariff
policy, successfully implemented by South Africa along with other incentives.

The meeting was informed that Pakistan had prepared an aggressive African
initiative policy for increasing its export to the region. As a first step, Pakistan
will attend Nairobi Fair scheduled in October 2007 so that its products could be
promoted in African countries.

Pakistan, South Africa agree to boost economic ties -DAWN - Business; August
22, 2007

 
08-23-2007, 01:34 PM   #5606 (permalink)

Judas Iscariote
Banned Members

200 megawatts power plant: Sindh decides

 
to annul MoU
 KARACHI (August 23 2007): The Sindh government has decided to terminate
the Memorandum of Understanding (MoU) signed with Dadabhoy Group for
setting up a coal-based power plant in Sonda-Jherruk, following the Group's
failure in executing works on time.
 
Join Date: Nov 2005
Posts: 326
Sources in Sindh Mines & Mineral Department told Business Recorder here on
Wednesday that earlier a show-cause notice had been issued to the group but it
Countries: failed to accelerate the work as per conditions of the MoU. Provincial government
Thanks: 3,432
had served a notice on the Dadabhoy group for the delay in undertaking the 200
Thanked 3,679 Times in 2,382
Posts MW power project.

After serving the notice, a delegation of senior officials and technical experts of
Mines & Mineral Department had visited the site. After detailed survey of the
project site, they came to know that the reply submitted by the Group claiming
that it had drilled over 250 holes was totally baseless. Not more than a dozen
holes had been drilled for coal exploration at the project site contrary to the
claims of company officials.

Following the visit and on the spot inspection of the site, officials of the
department decided to terminate the MoU, sources said. About the chances of
handing over the project to any other company, sources said that it was too early
to say anything in this matter.

The Memorandum of Understanding (MoU) was signed on June 27, 2005. Sindh
Minister for Mines and Mineral Development Irfanullah Khan Marwat had signed
on behalf of Sindh Coal Authority and Amin Dadabhoy on behalf of Dadabhoy
Hydrocarbon Limited.

According to project details, Dadabhoy group had planned to set up a 200 MW

coal-based power plant at an estimated cost of $400 million in association with
North China Power Energy Company Ltd.

Business Recorder [Pakistan's First Financial Daily]

 
08-23-2007, 01:39 PM   #5607 (permalink)

Judas Iscariote
Banned Members

Bumper sugarcane crop expected this year

 

ISLAMABAD (August 23 2007): Pakistan is poised to get a bumper sugarcane

crop this year, and if the mills agreed to start crushing in November, the
government need not import sugar, sources told Business Recorder on
  Wednesday.
Join Date: Nov 2005
Posts: 326
Sources said that the government has been pressing the sugar mills for starting the
Countries: crushing in October in Sindh and in November in Punjab and NWFP. The
Thanks: 3,432 government demand has not been accepted by the sugar industry. The government
Thanked 3,679 Times in 2,382
also acknowledges that the import of sugar could deprive the farmers from good
Posts
return as the industry could use this option in a tit for tat response to the
government decision of importing sugar, the sources said.

According to initial estimates, there are indications that the sugarcane production
target of around 55 million tonnes from an area of 1.015 million hectares for this
year will surpass, they added.

Some recent press reports suggest that the government was ready to use the option
of sugar import for ensuring supply beyond November this year. According to
these reports, the government was planning to import between 0.4 and 0.5 million
tonnes of sugar for carryover stocks. However, this proposal was set aside due to
the fear that farmers would not get good return, the sources said.

At the start of this month, the mills had 1.2 million tonnes of sugar and the
Trading Corporation of Pakistan (TCP) had 0.3 million tonnes of sugar stocks,
which at the rate of 0.350 million tonnes per month consumption can meet local
demand till November.

The government and the sugar industry are at odds over the start of next crushing
season. Both are poles apart on stocks lifting, availability, and the prices. The
sugar industry blames the government for not honouring its commitment to
keeping sugar prices at reasonable level to help them dispose of stocks and make
the payments to the growers.

The sugar mills, according to the sources, are not satisfied with the government's
mechanism of fixing the indicative price of sugarcane. The provincial
governments fix the prices under their political compulsions.

Business Recorder [Pakistan's First Financial Daily]

 
08-23-2007, 01:42 PM   #5608 (permalink)

Judas Iscariote
Banned Members

July foreign investment down 14.7 percent

 

KARACHI (August 23 2007): Country's net foreign investment witnessed a

 decline of 14.7 percent during the first month of current fiscal 2007-08 due to
major dipped in the portfolio investment.

Central bank statistics shows that during July 2007 net foreign investment
 
including portfolio and foreign direct investment (FDI) stood at $156.3 million as
Join Date: Nov 2005
Posts: 326
compared to $176.3 million during the same period of the last fiscal, depicting a
decline of $26 million during July 2007.
Countries:
Thanks: 3,432
Decline of 426 percent in the portfolio investment is the major reason behind the
Thanked 3,679 Times in 2,382
Posts overall decline in the foreign investment, as portfolio investment in the last July
2006 stood at $11.5 million as compared to $-37.7 million during July this year.

FDI has increased by $23.2 million to $188 million as compared to $164.8 million
during same period of the last fiscal. While, the portfolio investment witnessed a
dipped of $500 million to $-37.7 million during July 2007 as compared to $11.5
million in the July 2006, as during July 2007 $12.3 million portfolio investment
has witnessed against the outflows of $500 million.

It may be mentioned here that during last fiscal 87 percent upsurge witnessed in
the net foreign investment and the net foreign investment for the first time
reached at $8.42 billion as against $4.48 billion in the fiscal 2005-06.

Business Recorder [Pakistan's First Financial Daily]

 
08-23-2007, 01:43 PM   #5609 (permalink)

Judas Iscariote
Banned Members

US firm wants to expand operations

 

LAHORE (August 23 2007): US-based Company 'AboutUs' has planned to bring

in foreign investment in Pakistan, finding a country that has a significant potential
of growth and talented human resource to compete in international market,
  Company Founder Raymond King told Business Recorder during his visit in
Join Date: Nov 2005 Lahore.
Posts: 326

Countries: "The AboutUs wiki was launched in August of 2006 and now, one year later, the
Thanks: 3,432 site has seen very rapid growth of over 4 million unique visitors per month and
Thanked 3,679 Times in 2,382
thousands of user generated edits per day, he explained. To keep up with its
Posts
growth, developers, content creators and community experts are needed quickly,
he added.

When asked about his interest in opening operation in Pakistan, Raymond King
 said he was inspired by another US based company, Mentor Graphics, which was
already functioning in Lahore for almost eight years with impressive
achievements and decided to open a branch office in Lahore.

Talking about Mentor Graphics he said that Mentor Graphics Corporation's

President, Greg Hinckley was a good friend of him, adding that he said that
Mentor Graphics was able to find great talent in Pakistan, along with a culture of
innovation and dedication.

He said 'AboutUs' started its operation in Lahore in April 2007 with only eight
employees and now their figure has touched to 20, which is more than double
within three months. He said Mohsen Gilani; a Pakistani expatriate who was
instrumental in opening and establishing Mentor's office eight years ago now
using his experience to help develop 'AboutUs.'

While small at present, AboutUs plans to grow the Lahore office to 120 people
over the course of the next year, he revealed. To a question, he said that Pakistan
is an emerging market with a blend of unique talent, good infrastructure and high
level of tolerance.

"I believe our company will create a market in Pakistan with the support of
Pakistani talent, who are fully capable to compete in the international market," he
added. He also praised the Pakistan over its efforts to pave suitable ways for
bringing in foreign investment. To another query, AboutUs founder said that his
company already had invested a huge sum of amount and more investment is in
the pipeline.

Mohsen Gilani, country manager of AboutUs said he was quite happy and
satisfied with the offices' performance and his ultimate goal is to establish a
sustainable operation in Pakistan and through this technology Pakistan would
definitely gain a tremendous visibility among other developed nations. Gilani said
Pakistan has the required talent, potential and effective educational system to
become an offshore technology epicentre in the region.

Business Recorder [Pakistan's First Financial Daily]

 
08-23-2007, 01:46 PM   #5610 (permalink)

Judas Iscariote
Banned Members

Import of power from Iran: authorities

 
directed to remove bottlenecks
 ISLAMABAD (August 23 2007): Federal Minister for Water and Power, Liaquat
Ali Jatoi has said that import of cheap electricity from Iran to Balochistan would
 
benefit both the countries and the consumers of the region. He directed the
Join Date: Nov 2005
Posts: 326
authorities concerned to remove bottlenecks in commissioning the project as early
as possible.
Countries:
Thanks: 3,432
The minister said that the import of 1,000 MW power from Central Asian states
Thanked 3,679 Times in 2,382
Posts was also being actively pursued and presently a team was discussing the
modalities for import at Montreal where Tajikistan, Kyrgystan and Afghanistan
were also participating.

The minister said this while chairing a high level meeting to review the technical
and financial aspects of import of power from Iran. The meeting was informed
that presently 39 MW was being imported from Iran to meet demand of south-
west Balochistan comprising Turbat, Gawadar and Panjgoor districts and the
border towns of Mashkhail and Taftan.

Considering rapid development in and around Gawadar, another contract with

M/s. TAVANIR for import of 100 MW had also been signed, it was told. During
Pak-Iran joint economic commission in Islamabad, Wapda and TAVANIR agreed
on a tariff of 6.25 cents/kwh for supply of additional 100 MW power to Gawadar
by TAVANIR, which was approved by the ECC.

The meeting also discussed the proposal of laying 55 kilometer 220 KV

transmission line inside Pakistan for which financial assistance was being given
by the Iranian government. The Iranian company would bear the cost of 65km
line in Iran to provide power to Pakistan at its border.

The meeting also discussed financing and other aspects of the project and decided
to send a larger technical group including Finance Ministry's Representative to
Iran to further clarify the terms and conditions and other modalities for quick
implementation of the project. The minister stressed the need for expediting the
efforts for early completion of the project for importing cheap electricity from
Iran for Balochistan.

The meeting also discussed import of 1,000 MW power from Iran for which an
MoU has already been signed by the two countries in April, 2007. The team will
also finalise various aspects of the project with their counterparts in Iran shortly.

Cheng Hard To Break A Short-term Correction Sugar - Sugar, Sugar - Food

Industry
Email
Share

Favorite

RePublish article

Share 

National Day, the end to the 2008/2009 crop season sugar supply and demand to draw a conclusion Sell Data released already.
The domestic market until the end of September sales of 1,201,500 tons of sugar, production and marketing rate of 97% or more,
producing less than 400,000 tons of industrial surplus inventory. As China's sugar industry is the regional production, the national
consumption, and producing industrial stocks representative of the national inventory, less than 40 tons of inventory is not
enough consumption of the country a month. While sugar beet production areas have been opened in northern virgin, but the
sugar beet production cuts this year, facing a more significant short-term production are difficult to meet the needs of the market
south of the country. To the end of October, early November the remaining stocks must not meet industry demand for the
domestic market. Supply and demand in the domestic market in 10? November inevitable tension, resulting in short supply
situation.

Regulation, the August meeting in mid-Xining, Xining, Guangxi reserves earlier than the date of the meeting of sugar out of
Library Association proposed a reserve of less than 15 tons of local sugar. As the storage time throwing candy back in Xining
Association meeting date is expected to allow the market to investors that the price is better to place to reserve a library sedan
chair, which inhibits glucose Zheng 5,000 yuan / ton position continued breakthroughs in the spot price Also in 4200 yuan / ton
under the oscillation, short-term stability of the domestic market price.

And into October, the remaining local reserves and lack of domestic market consumption of industrial stocks to 1-month off-
season demand, supply and demand suddenly tense.

But publishing the import and export quotas for the new year, news released on October 13, Zheng main contract fell below the
4500 Sugar? 5,000 yuan / ton range of support between the position of the oscillation, showing the characteristics of heavy
volume decline.

In the quota, even tax-free, from the lowest shipping costs in Thailand to import sugar to October 16 the International Sugar
Quote as a reference, the Brazilian sugar is 6023 (1-15%) = 5119 yuan / ton, the Thai sugar is 5958 (1-15%) = 5064 yuan / ton.
Current spot prices are higher than 1,000 yuan / ton. If the current 4,200 yuan in accordance with national / ton spot price
parameter calculation, as long as the international price of sugar does not drop 18 cents / lb below the domestic price of sugar will
not inhibit the formation of the international price of sugar to make living in high quota the role of market regulation loss.

Next crop season, if made of sugar (information market) is still a supply and demand gap, the international price of sugar has
declined, you can use the quota balance the domestic market supply and demand. Surplus if the domestic market and
international market prices of living high, the quota has no practical meaning. But once the internal and external markets are the
result of excess, it will be in direct injury to the domestic industry. Shows that the actual formation of bad output next year to
determine supply and demand at home and abroad after the current supply and demand can affect only the country's reserves of
carbohydrate storage.
First place in Guangxi reached a short-term reserves of the bank's role in market regulation. Then the local reserve for the first
time out library?

Average monthly consumption of 1 million tons relative to the Chinese market, 400,000 tons less than the industrial stocks
stretched. Guangxi reserve in the library group, the second gap once the library's influence on the supply and demand is the drop
in the bucket, can not achieve the purpose of regulating the market.

State Reserve General Reserve 2.55 million tons, enough to balance the tension between supply and demand in the beginning of
crop season. And the State Reserve of domestic white Granulated sugar The shelf life of no more than 3 years. 2007/2008 crop
season State Reserve bought 80 million tons of domestic sugar, to May 2010 will be over shelf life, which is 800 thousand tons of
sugar round of pool time crossing. Position at this time point, the State Reserve a Library 800 thousand tons in 2007/2008 crop
season purchasing and storage of domestic white sugar serve two purposes, balancing short-term domestic demand, while the
completion of the state sugar reserve the smooth round library.

However, another problem facing the country the same reservoir, the new crop season production of the international market
despite some recovery, but can not fully meet international market demand, the El Nio phenomenon led to global supply and
demand there is a big uncertainty. While domestic production has not yet appeared to refer to the forecast supply and demand of
the new crop season is still faced with more uncertainty.

Read more: http://business.ezinemark.com/cheng-hard-to-break-a-short-term-correction-sugar-sugar-sugar-food-industry-

31c781c6479.html#ixzz1BxMpf2V0
Under Creative Commons License: Attribution No Derivatives

Companies performance well during the year 1998 despite all odds. There were 24 companies
which showed fall in sales table as compared to 31 in the previous year. These included 7
companies from Textile (Crescent Textile, Kohinoor Industries, Mehmood Textile, Quetta
Textile, Indus Dyeing, Umar Fabrics, and Ghazi Fabrics), 3 companies each from Fuel & Power
(National Refinery, Attock Refinery and Pakistan Oilfields), Synthetic & Rayon (Dewan Salman
Fibres, Rupali Polyester and Pakistan Synthetics) and Cement (Cherat Cement, D.G. Khan
Cement and Fecto Cement), 2 companies from Cables & Electric (Philips Electrical and Siemens
Pakistan) and one each from Transport & Communications (Pakistan National Shipping),
Chemical & Pharmaceutical (Cyanamid Pakistan), Auto & Allied (Atlas Honda Ltd.) Leather
(Bata Pakistan) and Vanaspati & Allied (Wazir Ali Industries). Decline in profits was registered
by 25 companies as compared to 37 in the preceding year in the table of Top 100 Companies
according to Sales, while 23 co mpanies lost money during the year 1998 namely: Karachi
Electric Supply Corp. Pakistan Tobacco Company, ICI Pakistan, Novartis Pakistan, Cyanamid
Pakistan, Novartis Pharma, Pakistan Synthetic, Kohinoor Industries, Kohinoor Textile, Ghazi
Fabrics International, Ayesha Textile, Shakargani Mills, Shahmurad Sugar, Crescent Sugar,
Shahtaj Sugar, Haseeb Waqas, Faran Sugar, Pak Elektron, Bata Pakistan, Associated Industries,
Pakistan Services, D.G. Khan Cement and Fecto Cement, It may be noted that Sugar sector was
the major loser, because of raised sugarcane price by the Government from Rs.24 to Rs.35 per 40
kgs during the period under review. This exorbitant increase in price has had a negative impact
on the profitability of sugar industry, while this decision has given a boost to cane producer. It
has also pushed the cost of sugar production much above the international price and has also led
to a crash in domestic sugar price.

Pakistan State Oil (PSO) has been maintaining the top position for nearly last two decades by
handling 76.8 per cent of the petroleum trade of the country during the year under review. The
company sold 12.749 million tonnes of petroleum products in 1998 as compared to 11.861
million tonnes in the preceding year showing an increase of 7.49 per cent despite difficult
economic scenario of the country. The company showed a rise of 10.81 per cent in its sales from
Rs. 109,508,02 million to Rs. 121344.51 million in 1998, whereas its pretax profit declined to
24.54 per cent from Rs. 3745.76 million to Rs. 2826.45 million during the year under review.
PSO - a state enterprise, continued to make optimum utilisation of the nine lubricating oil
blending plants and two reclamation plants under its control.

The company have completed 24,000 tonnes furnace oil storage at Lalpir and commissioned
along with 12" dia, 2.5 km long pipeline for supply of fuel oil to AES Power Plants at Lalpir.
Meanwhile dedicated fuel oil receipt facility through railway tank wagons was also
accomplished as part of this project. PSO signed an agreement with Pakistan Railways for
transportation of additional 500,000 tonnes per annum of furnace oil from Keamari Terminal. To
achieve the required loading capacity, additional railway tank wagons loading infrastructure and
pumping capacity was completed and commissioned during the period under review. PSO also
signed an agreement with Pakistan Railways for transportation of 500,000 tonnes perannum of
furnace oil from Pipri Marshalling Yard. The company is planning to participate in the White Oil
Pipeline Project, which envisages construction of a White Oil Pipeline, parallel to the existing
PARCO pipeline.

Pakistan Telecommunication Company Limited maintained its 2nd position in the table with its
sales amounting to Rs.46.466.04 million as compared to Rs.40,593.86 million in the
precedingyear, showing an increase of 14.47 per cent during the year 1998. Similarly, its pretax
profit jumped to 19.58 per cent from Rs.14,569.21 million against 12,183.79 million during the
same period under review. The company's turnkey contracts with the Chinese Consortium cover
the supply and installation of equipment for 266,000 digital lines with full backup services. The
total contract amount is about $95 million with a five-year foreign currency loan of US $34.63
million at an interest rate of only 2 per cent per annum. Another contract for supplement supply
and continued financing agreement for US$40 million at an internal rate of 2 per cent per annum
with ZTE for the next 5 years along with Technology Transfer Agreement and local
manufacturing agreement with ZTE. The implementation of these contracts is likely to bring
anoth er 20-25 per cent reduction in overall prices in US Dollar terms as other vendors are forced
to compete. Meanwhile, the network expanded from 3.26 million lines to 3.52 million during the
year under review. The company expects that the experience of Turkey project shall help in
achieving lower equipment costs. The introduction of a 5 minutes pulse for local calls with the
slight increase in monthly line rent is likely to bring additional revenues along with foreign
exchange revenue of about US $ 400 million from international traffic.