Saturday, October 29, 2011
IFC supports landmark wind power project in Pakistan
ISLAMABAD, Oct 28 (APP): International Finance Corporation (IFC), a member of the World Bank Group, is investing $38.1 million in Zorlu Enerji Pakistan Limited to build a landmark wind power project in Sindh Province, in the country that will increase the country’s renewable energy generation capacity. The 56.4MW Zorlu Pakistan wind project is the first internationally-financed wind power development in Pakistan, says a statement issued by the IFC here. The Asian Development Bank, ECO Trade and Development Bank and Habib Bank are also financing the US$159 million project. When constructed, the project is expected to be one of the first two wind power projects to operate commercially in Pakistan. This project supports the entry of a Turkish power sector player in Pakistan, thereby promoting south-south investment.
Few international players are currently operating in the power sector in Pakistan and IFC’s support was instrumental in realizing financing for the project.
Zorlu Enerji is a key IFC client in the renewable energy sector, dating back to 2009, when IFC financed the project developer’s 135MW wind power project in Turkey.
The Zorlu Energy General Manager Arif said, “Pakistan’s first wind power plant project to be built with international finance, was made possible by the support we received from IFC”.
By demonstrating the viability of Pakistan’s local and renewable resources, this project is expected to have a considerable impact on the economy.
“IFC’s partnership with Zorlu Enerji, one of our key clients, enables us to extend additional support to the renewable energy sector in Pakistan. We hope this project will stimulate the interest of other investors in harnessing the country’s favorable wind resource,” said Gulrez Hoda, IFC Director for Infrastructure and Natural Resources in Eastern Europe and the Middle East and North Africa.
The project will help to alleviate Pakistan’s power deficit by developing an indigenous, renewable resource for power generation.
It will also contribute to reducing the country’s reliance on imported fuel for power generation.
“The IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets”.
In fiscal 2011, amid economic uncertainty across the globe, we helped our clients create jobs, strengthen environmental performance, and contribute to their local communities-all while driving our investments to an all-time high of nearly $19 billion.
In FY11, IFC invested over $500 million in renewable-energy projects, representing over 60 percent of IFC’s commitments in the power sector in terms of dollars invested.
Few international players are currently operating in the power sector in Pakistan and IFC’s support was instrumental in realizing financing for the project.
Zorlu Enerji is a key IFC client in the renewable energy sector, dating back to 2009, when IFC financed the project developer’s 135MW wind power project in Turkey.
The Zorlu Energy General Manager Arif said, “Pakistan’s first wind power plant project to be built with international finance, was made possible by the support we received from IFC”.
By demonstrating the viability of Pakistan’s local and renewable resources, this project is expected to have a considerable impact on the economy.
“IFC’s partnership with Zorlu Enerji, one of our key clients, enables us to extend additional support to the renewable energy sector in Pakistan. We hope this project will stimulate the interest of other investors in harnessing the country’s favorable wind resource,” said Gulrez Hoda, IFC Director for Infrastructure and Natural Resources in Eastern Europe and the Middle East and North Africa.
The project will help to alleviate Pakistan’s power deficit by developing an indigenous, renewable resource for power generation.
It will also contribute to reducing the country’s reliance on imported fuel for power generation.
“The IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. We help developing countries achieve sustainable growth by financing investment, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets”.
In fiscal 2011, amid economic uncertainty across the globe, we helped our clients create jobs, strengthen environmental performance, and contribute to their local communities-all while driving our investments to an all-time high of nearly $19 billion.
In FY11, IFC invested over $500 million in renewable-energy projects, representing over 60 percent of IFC’s commitments in the power sector in terms of dollars invested.
Tuesday, October 25, 2011
Highest Saudi award for a Pakistani hero
RIYADH: Saudi Arabia’s King Abdullah has hounoured a Pakistani who had laid his life to save 14 others from drowning during torrential rains/flooding in Jeddah back in 2009, Geo News reported.
Saudi government has, posthumously, not only bestowed the highest civil award on Farman Ali but also named a highway after him.
This valourous countryman who has now come under a heroic spotlight forever is a martyr as he during those drastic floods gave life to as many as 14 of his fellow countryman but lost his own in the end.
Farman comes from Swat and has left behind a widow and three daughters.
Saudi government has, posthumously, not only bestowed the highest civil award on Farman Ali but also named a highway after him.
This valourous countryman who has now come under a heroic spotlight forever is a martyr as he during those drastic floods gave life to as many as 14 of his fellow countryman but lost his own in the end.
Farman comes from Swat and has left behind a widow and three daughters.
Saturday, October 15, 2011
The real victim of 9/11
Peter Preston’ in his article “Pakistan is the real victim of Bush’s 9/11 folly” analyses correctly as to how Pakistan has suffered due to the wrongdoing of Americans, west and, of course, opportunist and short-sighted leaders of Pakistan.
The article which published in The Guardian on 9 October is an eye-opener for the policymakers of both countries. There is a need to understand Pakistan’s compulsions and the leadership crises. It’s very unfortunate that the champion of democracy prefers to deal with dictators, instead of parliament as it happened after 9/11.
It’s amazing that the only 19 percent see the real threat from archrival India and as per Pew Research Centre poll, 70 percent saw US as more of an enemy than a saviour. As the writer says, that in spite of all problems and shortcomings, “Yet the message of public opinion, in its bewilderment, cannot be ignored”.
If India and China can progress well, Pakistan could have also performed well, but in those 10 dreadful years Pakistan plunged into crises after crises. The most important factor which he also mentioned is the flux of more than two million Afghan refugees.
They are living here since the last 40 years, and are not only a burden on our fragile economy but some are natural sympathisers of extremists. Peter writes, “For three decades of Afghan tumult, Pakistan has been blown hither and yon by outside imbecilities. And 10 full years after 9/11, it is the heaviest casualty of them all”. Pakistan is the major sufferer in the last ten years but instead of appreciating it, a blame game is in full swing for the false satisfaction of Americans.
I fail to understand as to why the US is not concerned about public opinion of Pakistani people? Why in their eyes Pakistan is an enemy and not an ally? Why do they want to make Pakistan an scapegoat?
I think the US should start listening to the people’s voice. The barrel of a gun is not the solution of every problem. Killing the poor and innocent people, on the pretext of saving the Americans, is not well received and it’s time to reflect and correct the wrongdoing of the past.
Most Pakistanis feel that their leaders made a wrong choice by rushing to America after independence. The US has to prove through deeds that it is our well-wisher and not an enemy.
The article which published in The Guardian on 9 October is an eye-opener for the policymakers of both countries. There is a need to understand Pakistan’s compulsions and the leadership crises. It’s very unfortunate that the champion of democracy prefers to deal with dictators, instead of parliament as it happened after 9/11.
It’s amazing that the only 19 percent see the real threat from archrival India and as per Pew Research Centre poll, 70 percent saw US as more of an enemy than a saviour. As the writer says, that in spite of all problems and shortcomings, “Yet the message of public opinion, in its bewilderment, cannot be ignored”.
If India and China can progress well, Pakistan could have also performed well, but in those 10 dreadful years Pakistan plunged into crises after crises. The most important factor which he also mentioned is the flux of more than two million Afghan refugees.
They are living here since the last 40 years, and are not only a burden on our fragile economy but some are natural sympathisers of extremists. Peter writes, “For three decades of Afghan tumult, Pakistan has been blown hither and yon by outside imbecilities. And 10 full years after 9/11, it is the heaviest casualty of them all”. Pakistan is the major sufferer in the last ten years but instead of appreciating it, a blame game is in full swing for the false satisfaction of Americans.
I fail to understand as to why the US is not concerned about public opinion of Pakistani people? Why in their eyes Pakistan is an enemy and not an ally? Why do they want to make Pakistan an scapegoat?
I think the US should start listening to the people’s voice. The barrel of a gun is not the solution of every problem. Killing the poor and innocent people, on the pretext of saving the Americans, is not well received and it’s time to reflect and correct the wrongdoing of the past.
Most Pakistanis feel that their leaders made a wrong choice by rushing to America after independence. The US has to prove through deeds that it is our well-wisher and not an enemy.
Thursday, October 13, 2011
Pakistani scholar wins Int’l prize for innovative textiles
Ashraf was conferred the prize by Mr. Philippe Taquet, Vice President, French Academy of Science. Twelve researchers of 10 different nationalities studying in different universities of Europe presented their work for this prize.
Munir’s work was declared the best and was awarded a prize of 10,000 euros with a certificate and a shield.
“I developed a multi-functional textile by growing nano rods of ZnO on polyester fabric. This fabric cleans itself like lotus leaves. There is no possibility of its staining by colours dissolved in water but if it gets stained by colorants dissolved in low surface energy solvents like acetone, no need to wash it, just expose the fabric to UV light the colour will disappear automatically due to photocatalytic effect of ZnO.
The fabric has ability to kill the bacteria if attached on the surface and hence it prevents their growth,” says Muneer.
Munir’s work was declared the best and was awarded a prize of 10,000 euros with a certificate and a shield.
“I developed a multi-functional textile by growing nano rods of ZnO on polyester fabric. This fabric cleans itself like lotus leaves. There is no possibility of its staining by colours dissolved in water but if it gets stained by colorants dissolved in low surface energy solvents like acetone, no need to wash it, just expose the fabric to UV light the colour will disappear automatically due to photocatalytic effect of ZnO.
The fabric has ability to kill the bacteria if attached on the surface and hence it prevents their growth,” says Muneer.
Sunday, October 9, 2011
Turkey to build slaughterhouses in Punjab
LAHORE: Turkey is transporting construction machinery for setting up four new slaughterhouses in Punjab. Turkish-Pakistan Business Council's President Hussain Akin stated this in a meeting with Foreign Economic Relations Board Turkey (FERB)'s delegation with Punjab Board of Investment and Trade (PBIT) and other related provincial departments on Sunday.
The meeting discussed in detail matters pertaining to infrastructure and energy projects in Punjab.
PBIT Vice Chairman Rizwan Ullah Khan while welcome the delegation, said that Turkey and Punjab had explored a new era of development through mutual cooperation.
The provincial government is taking all possible steps to promote foreign investment, he added.
Board CEO Dr Sajid Yousafani briefed the delegates about investment opportunities in Punjab and provincial government's trade policies as well as the PBIT role in this regard.
Hussain Akin appreciated the PBIT role in strengthening trade ties between Turkey and Punjab.
Secretaries of Punjab C&W Department and Energy Department also briefed the Turkish delegates about the working of their respective departments.
The meeting discussed in detail matters pertaining to infrastructure and energy projects in Punjab.
PBIT Vice Chairman Rizwan Ullah Khan while welcome the delegation, said that Turkey and Punjab had explored a new era of development through mutual cooperation.
The provincial government is taking all possible steps to promote foreign investment, he added.
Board CEO Dr Sajid Yousafani briefed the delegates about investment opportunities in Punjab and provincial government's trade policies as well as the PBIT role in this regard.
Hussain Akin appreciated the PBIT role in strengthening trade ties between Turkey and Punjab.
Secretaries of Punjab C&W Department and Energy Department also briefed the Turkish delegates about the working of their respective departments.
Saturday, October 8, 2011
Diamir-Bhasha dam foundation stone laying on 18th
Islamabad—Prime Minister Syed Yusuf Raza Gilani informed the National Assembly on Friday that foundation stone laying of Diamir-Bhasha dam will be held on October 18.
The Prime Minister in his address in the Lower House said it is a mega project and the government has presented it before the Council of Common Interest (CCI) to take approval of all the stakeholders so that it could not be politicised like Kalabagh dam. He said the meeting of CCI was attended by the four chief ministers and they approved the project unanimously, adding that the Diamir Bhasha dam was a dream of Shaheed Mohtarma Benazir Bhutto and the PPP-led government is committed to materialise it.
Minister for Water and Power Naveed Qamar said loadshedding has come to an end in the country. On the other hand, the opposition rejected the claim of the government.
The Opposition members alleged that main reason of loadshedding was bad governance rather than ground realities. The government members were of the view that the Opposition was doing politics of violence.—INP
The Prime Minister in his address in the Lower House said it is a mega project and the government has presented it before the Council of Common Interest (CCI) to take approval of all the stakeholders so that it could not be politicised like Kalabagh dam. He said the meeting of CCI was attended by the four chief ministers and they approved the project unanimously, adding that the Diamir Bhasha dam was a dream of Shaheed Mohtarma Benazir Bhutto and the PPP-led government is committed to materialise it.
Minister for Water and Power Naveed Qamar said loadshedding has come to an end in the country. On the other hand, the opposition rejected the claim of the government.
The Opposition members alleged that main reason of loadshedding was bad governance rather than ground realities. The government members were of the view that the Opposition was doing politics of violence.—INP
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