PM’s China visit to usher new era of prosperity

FAISALABAD (APP): Senior vice president FCCI Nadeem Allahwala has said the visit of Prime Minister Muhammad Nawaz Sharif to China will help to usher a new era of prosperity and development in the country. In a statement here Sunday, he said that MoUs and agreement signed with Chine government will help to overcome energy crises in the country on permanent basis. He said that billion dollars investment by Chinese government in different sectors especially in energy sector will also create job opportunities for unemployed educated youth. Nadeem Allahwala said that the politics of sit-ins had badly damaged national economy and hoped that PTI will also end sit-in like PAT.

Railways spends Rs 231.97m Balloting of students welfare bond, Rs 1500 bond on November 17

FAISALABAD (APP): 8th balloting of students welfare bonds worth Rs.100/- will be held at Quetta on November 17. According to a spokesman of the National Savings, first position holder will be awarded a cash prize of Rs 700,000 while 3 prizes of Rs.200,000 each have been reserved for 2nd position holders. Similarly, third prize of Rs.1000 will be awarded to each of 1196 position holders, he added. 60th balloting of prize bonds worth Rs.1500/ will be held here on November 17. According to a spokesman of the National Savings, the first position holder will be awarded a cash prize of Rs.3 million while three prizes worth Rs.1 million each would be awarded to second winners.

Similarly, third cash prize of Rs 18,500 will be given each to 1696 winners, he added.

on maintenance of stations

ISLAMABAD (APP): Pakistan Railways has spent an amount of Rs 231.97 million on maintenance and rehabilitation of Railway Stations in the country since 2010 to June 2014.  Pakistan Railways had purchased 63 diesel-electric locomotives during the last five years, an official of in the Ministry of Railways told APP.  About 58 new diesel-electric locomotives are being imported in Complete Built Unit (CBU) form amounting to $116.860 million under PSDP. He said that present government had taken several steps to reduce the losses included reduction in fares resulted into attracting extra passengers towards rail that consequently increased the passenger earning as well as other coaching.

Availability of locomotives in freight pool had been enhanced on daily basis that generated activity and made it possible to start three to five freight trains at Karachi Port daily for up country, he added.

The punctuality of passenger trains had been improved from 10% to 55%. HSD Oil reserve was limited for two days which has been enhanced to 12 days to streamline the operation of trains.

To a question he said the land measuring 25.47 acres is owned by Pakistan Railways in Sarai Naurang.

However, he said at present no railway land at Sarai Naurang is under un-authorized occupation.

Minister to inaugurate grid station

on Monday

FAISALABAD (APP): Federal State Minister for Water and Power Chaudhary Abid Sher Ali will inaugurate a 132-KV grid station at M-3 Industrial City here on Monday (November 10). According to a spokesman of the Faisalabad Industrial Estate Development and Management Company (FIEDMC), the grid station project was completed within a record time of 14 months with the help of Pak Electron Limited. He told that Rs.300 million were spent on the establishment of 132-KV grid station which would help to provide 40 megawatts electricity to the industrial units of M-3 Industrial City.

He told that M-3 Industrial City is the biggest industrial zone of Pakistan which was developed on 4500 acres of land. The new grid station will provide uninterrupted electricity to the industries of the city,

he added.

Indian e-commerce to be worth $20b by 2015

NEW DELHI (Online): The e-commerce market in India is expected to grow 37pc to reach $20 billion by next year on the back of growing internet population and increased online shoppers, a report has said on Sunday. “E-commerce in India is a $11 billion market, and is estimated to reach $20 billion by 2015, growing at a CAGR of 37pc over 2013-15,” Motilal Oswal Securities said in its report on e-commerce. The research firm said there are multiple enablers for this growth which include increase in the number of internet users and an increased proportion of online shoppers within those users, growth in the per-shopper transaction value and continued flow of capital by willing investors.

The report said currently online travel dominates the e-commerce market but in the future, e-tailing will drive the growth.

Online travel constituted 71pc of the e-commerce market in India, followed by e-tailing (16pc). Travel has grown at a CAGR of 32pc over 2009-13.