Shale gas, oil centre established

to facilitate E&P cos

ISLAMABAD (APP): Ministry of Petroleum and Natural Resources has established a Shale gas and oil centre to facilitate interested Exploration and Production (E&P) companies in tapping the recently identified 188 TCF gas and 58 BSTB oil technically recoverable resources in lower and middle Indus Basin. "A dedicated Shale gas and oil centre has been established at the Petroleum House, which is now open for all interested E&P companies," official sources told APP. They termed the identification of massive Shale reserves a 'game-changer' and future source for abundant supply of petroleum in the country. A study, completed in collaboration with USAID, had confirmed presence of 3,778 trillion cubic feet (TCF) Shale gas and 2,323 billion of stock tank barrels (BSTB) Shale oil in place resources. The study covered lower and middle Indus Basin which geographically spread over Sindh, southern parts of Punjab and eastern parts of Balochistan.

FPCCI visits Lebanon to

boost trade ties

KARACHI (APP): A 28-member trade delegation, comprising prominent members of Federation of Pakistan Chambers of Commerce & Industry (FPCCI), visited Lebanon to boost trade ties between both countries. FPCCI officials, sharing details of the visit, said the delegation headed by Irfan Sarwana, Vice President of FPCCI included entrepreneurs from different business sectors of the country. During the visit, the delegation held various high level meetings with the government officials and representatives of business community of Lebanon. Pakistani delegation also had an exclusive meeting at the Ministry of Economy and Trade with Jacqueline Melhem during which measures to boost trade ties between the two countries were reviewed and discussed. It was agreed that besides exchange of trade delegation, the two countries could also organise Solo country Trade Exhibitions and develop cooperation in various sectors of mutual interest etc.

Industrial output grows

5.58pc in 10 months

ISLAMABAD (APP): The country's large scale manufacturing (LSM) sector has witnessed growth of 5.58 percent during first 10 month of current fiscal year as compared to the corresponding period of last year. The Quantum Index Numbers (QIM) of large scale manufacturing industries was recorded at 140.87 points during July-April 2016-17 against 133.43 points during same period of last year, according the data of Pakistan Bureau of Statistics (PBS). The highest growth of 4.4 percent was witnessed in the indices monitored by the ministry of industries followed by Provincial Bureaus of Statistics (PBOS) with 1.08 percent and the indices of Oil Companies Advisory Committee (OCAC) with 0.10 percent. On Year-on-Year basis, the industrial growth increased by 9.72 percent during April 2017 as compared to April 2016, however, on monthly basis, the industrial output decreased by 17.88 percent during the corresponding month as compared to March 2017.

Rs660m released for 241

uplift schemes

SARGODHA (APP): The Punjab government has released an amount of Rs660 million, out of Rs1.1 billion for 241 uplift schemes to be executed under the Prime Minister Development Programme Phase-II across the division. This was disclosed here on Tuesday in a meeting chaired by Commissioner Sargodha Nadeem Mehboob in which official of Public Health, Wapda and other departments were present. The meeting was told that Rs276.2 million have been released for 135 schemes of Sargodha district, Rs120 million for Khushab, Rs60 million for Mianwali and Rs119.5 million for Bhakkar. The meeting was also told that under the PM development programme, Rs1.9 billion has been spent so far on 578 schemes in division Sargodha. The commissioner directed the officials concerned to expedite the development work and ensure quality of work. He also directed that strict monitoring of all projects be ensured accordingly.