Iesco distributes 2m free energy savers among consumers

ISLAMABAD (Staff Reporter):  Islamabad Electric Supply Company (IESCO) has claimed distribution of two million free energy savers (CFL) among the domestic consumers, while remaining one million energy savers are being distributed under Prime Minister’s Energy Savers programme. The Prime Minister’s Energy Savers programme was started for energy conservation. Under the programme, three million energy savers were provided to IESCO for onward distribution among the domestic consumers while at present the distribution of energy savers was continuing in all circles of the power utilities across the country. All nine power distributing companies (Discos) had directed their teams to expedite the drive.

In a statement, power utility (Iesco) said that two free energy savers were being distributed to each domestic consumer but with the replacement of two ordinary bulbs i.e. 40, 60 or 100 watt. And, almost one million power consumers of the utility in total have so far gotten energy savers and Iesco has achieved 70pc target of distribution of energy savers.

The circle wise break up of energy savers distribution in Iesco’s jurisdiction has shown that ‘in Rawalpindi Circle 640240, Chakwal Circle 555344, Attock Circle 368562, Jhelum Circle 264851 and in Islamabad Circle 226090 energy savers have been distributed’.

Chinese investment in power

sector to boost Pak economy

ISLAMABAD (APP): The increased confidence of the foreign investors in the Pakistan’s policies for fiscal and financial afairs including foreign investment would go a long way in improving the economy on fast track. Senior economist Dr. Saboor Ghayoor while talking to Radio Pakistansaid that government has taken concrete steps to put economy on right track.  The government has also provided relief to people in power sector that would also help improve the economy, he added.  About the role of China in the Pakistan’s economic growth, he saidthat Chinese investment in power sector and infrastructure will further boost the economy.

However he said that Pakistan needs to improve tax collection to ensure that the economic health is durable.

Two-year rain harvesting project for Potohar villages launched

RAWALPINDI (APP): Director General Agency for Barani Areas Development (ABAD) Tariq Javed Malik Thursday said they have launched a rain-harvesting project in villages of Potohar region, which would be completed in two years. The project titled “Rain Water Harvesting” would help farmers’ community in rain-fed areas promote agriculture sector and improve underground water level, he said while chairing a meeting here.  The meeting was attended among others by Chief and Deputy Chief of ABAD, Chief Conservator of Forests Dr Muhammad Rafique, ConservatorForests Iftikhar Ahmed Qureshi and senior officers of concerned departments.

Highlighting importance of the project, he said entire rain water goes waste as there is no proper system for its storage and utilization. The conservation plan would be beneficial for crops and help ensure brining maximum land under cultivation.

He said tasks have been assigned to concerned departments to achieve desired goals and restore underground water reserves.

 According to a study, Malik said, around one million hectare feet rain water goes waste every year in rain-fed areas and there is dire need of storing it on war-footing.

 Forests Conservator Rawalpindi Region Dr Muhammad Rafique apprised the meeting that the department would plant one million saplings in Barani areas of Rawalpindi, Attock, Jhelum and Chakwal. The target would be achieved during the current spring and next monsoon plantation campaigns, he added.

Reserves stand at $8.73 billion

Karachi (Staff Reporter): The total liquid foreign reserves held by the country stood at $8,737.0 million on 28 Feb 2014. The break-up of the foreign reserves position as foreign reserves held by the State Bank of Pakistan: $3,920.7 million, Net foreign reserves held by banks:  $4,816.3 million and total liquid foreign reserves: $8,737.0 million.

During the week ending 28 Feb 2014, SBP’s Liquid FX Reserves increased by $50 million to $3,921 million compared to $3,871 million in the previous week. The increase in the Central Bank reserves is attributed to receipts of $74 million from multilateral, bilateral and other official sources. During the week ending 21 Feb 2014, total official payments were $24 million.

Turk Cell team to assess 3G auction

ISLAMABAD (Usman cheema):Turk Cell that showed interest in the coming next generation spectrum auction has sent its representatives to Pakistan to assess market conditions before the auction of 3G/4G spectrum scheduled in April. The company is specially taking interest in the slot that is reserved for the new entrants only. Earlier there was no specific slot was reserved only for new entrants but they were welcome to bid for the available next generation spectrum blocks. Few months back there were only 3 blocks that the government was planning to auction and had forecasted in the budget an amount of $1.2 billion as expected outcome.

But recently the government changed the policy and increased the blocks and furthermore Ministry of IT added spectrum in 850 MHz in its policy directive exclusively for new entrants. The government also has revised its expected outcome from the 3G/4G licence auctions. Now it is expecting revenue of more than $2 billion from this auction.

In present situation there will be open competition on 5 blocks but one slot in 850 MHz band will only be available to new entrant. As a first step Turk Cell has showed its interest in the aforementioned reserved block and for the purpose their team has arrived Pakistan. The delegation met the Minister of State for IT and Telecom Ms Anusha Rahman at MoIT&T and Chairman Pakistan Telecommunication Authority (PTA) Dr. Syed Ismail Shah here on Thursday and carried out discussions on upcoming auction.

Chairman PTA briefed the delegation about the fast paced growth witnessed in the telecommunications sector of Pakistan in the recent past. He informed them that due to investor friendly policies of the Government of Pakistan and fair regulatory regime adopted by the telecom regulator, Pakistan’s telecom sector has been able to achieve unprecedented growth in the recent years.

The current trends in the sector show positive future prospects for the new investors. He also apprised them in detail about the different aspects of the spectrum auction.

The members of the Turk Cell delegation showed keen interest in the upcoming Spectrum Auction for next generation mobile services in Pakistan. Lauding the policies of the Pakistan Government, the Turkish delegation noted that swift development in the telecom sector particularly in the cellular mobile sector of Pakistan has drawn deep appreciation from the global telecom community.