Wind energy does miracle in Sindh villages
Locally-manufactured wind turbines costing Rs0.16m each lit up four small villagesWednesday, May 21, 2008By Shahid HusainKARACHI: Given the fact that Pakistan is facing a power shortfall of 4,000MW, it is heartening to see that the Sindh Rural Support Programme (SRSP), a Hyderabad-based non-governmental organisation (NGO) has illuminated four small villages in Jati in the Thatta district, some 150 kms from Karachi, through installing wind turbines, giving a cue that it is time to tap alternative sources of energy.
The villages include Raj Sheikh Bachal, Mian Abdul Karim Jat, Abdullah Jat and Mohammad Umar Thahmein and have average 26 houses each.“Each wind turbine cost us Rs160,000 and was acquired from a Karachi-based private firm,” Dr Yameen Memon, Trustee of SRSP told The News.The inhabitants of these villages, comprising poor farmers and fisherfolk, had never dreamt of getting electricity and are extremely happy.“We don’t face load-shedding,” said Ahmed Ajeeb, 33, hailing from Abdullah Jat village. “Now our children can study, do their homework and can play even during the night and our women can continue embroidery work,” he said. Each household saves Rs75 every month that is deposited in a bank to meet any exigency. The villagers sow rice, wheat, sugarcane and oilseeds and farmlands are dotted with mango, neem, conocorpus and eucalyptus trees.
There is also abundance of devi bushes in the area.However, since Jati happens to be at the tail end of River Indus, there is acute shortage of freshwater.“We don’t know when we will get water. But when it comes, we practice agriculture. I own eight acres of land but cultivate only two acres because of scarcity of water,” said Gul Mohammad, 25, an inhabitant of Abdullah Jat village.“Last year I cultivated rice on my land but most of it is lying barren this year because there is no water,” he said.But people have not lost hope. “Some of our requirement will be fulfilled by Almighty through rains while the rest will come through the canal,” said Mammon Lodho, 60, a farmer in Mammon Lodho village.“We received water a month ago. Now we are being told that it will come on May 20 but we are not sure,” he said.Thanks to wind turbines even the streetlights in the villages have started functioning. “There are lots of snakes in our area and would frequently bite villagers but after we got electricity, we are relatively safe. Even stray dogs don’t bark now because they recognize us,” said Nisar Ahmed, 30, who lives in Umer Thahiem village.“We feel as if we are living in cities,” he said. “Every village that has been illuminated has an average population of 150 people. The wind velocity here is 6-9 meter per second (MPS) and we have made sure that the wind turbines that are being used are locally-manufactured,” said Dr. Memon.
Given the fact that Pakistan has a 1700-km long coastal belt and pretty good wind velocity, perhaps the experiment could be replicated in vast areas of the country. “I have discovered a wind corridor between Gharo and Keti Bundar that is 80km wide and 150km in depth and it can generate 4MW energy at every kilometer at a cost that is cheaper than coal,” said Brigadier (Rtd.) Dr. Naseem A. Khan, Vice Chancellor, Hamdard University and former secretary, Alternate Energy Development Board.He said Pakistan should learn from India that is generating 1800MW from wind energy, equivalent to energy produced by Mangla Dam. But he conceded that gas lobby was very strong in Pakistan and it discouraged tapping alternate sources of energy.
Tuesday, May 20, 2008
Wednesday, April 9, 2008
Musharraf : Told Ya ! - Lawyers rough up Former Parliamentary Minister Sher Afghan
Musharraf : Told Ya !
- Lawyers rough up Former Parliamentary Minister Sher Afghan
- ‘Black coats’ or ‘Blackshirts’!
- Third Act of assult by Lawyers is an eye opener. Writer Naeem Bokhari and
Former Senate Chairman Wasim Sajjad were the first ones
IF Monday’s incident inside the Sindh assembly was despicable, the treatment meted out to veteran politician Sher Afgan Niazi by a group of ‘lawyers’ in Lahore yesterday has perhaps put the entire nation to shame.The images of Arbab Ghulam Rahim being thrashed by an unruly band of PPP activists in Karachi were still fresh in the minds of most people, when the television screens started to flash some of the most disturbing images of people in black coats beating, abusing and humiliating a former minister. Sher Afgan’s only crime was that he didn’t agree with the lawyers’ movement, sided with President Musharraf on the issue of proclamation of emergency, and even lost his seat in the elections after being dumped by the then ruling PML-Q.Perhaps in civilised societies even criminals are not treated the way some of the people treated Sher Afgan outside a lawyer’s chamber.
During the chaotic situation in Lahore on Tuesday, when this group of lawyers refused to listen even to their leader Aitzaz Ahsan, there were clear signs that if not checked at this stage the ‘black coats’ may soon be replaced by what were once known in Europe as the ‘Blackshirts’.Indeed, what was being dubbed as a movement for restoration of democracy and rule of law was clearly showing signs of fascism.Sher Afgan Niazi has always been a controversial person, and the way he had taken upon himself the task to defend all of the President’s actions earned him the reputation of being more loyal than the king.At a time when most leaders of the previous governments were clearly avoiding taking a position on President Musharraf’s move to impose emergency, Sher Afgan was perhaps the only minister in the previous cabinet to publicly support or justify the presidential action. Of course, it made many people in the country quite angry. But could that justify such uncivilised behaviour? Certainly not.One can argue about the real causes for this kind of intolerance in the society, and there is every reason to believe that because of repeated disruptions in the democratic process, many people have adopted violent means to voice their grievances.
Still, there can be no justification for the way senior politicians and lawyers have failed to control their supporters, who are bent upon settling scores the way they feel is the right way.Perhaps the first signs of such ‘fascist’ trends were seen when after the restoration of Iftikhar Mohammed Chaudhry the first time a group of lawyers in Rawalpindi took upon itself the task of enforcing their style of justice system.
During this period, at least one pro-Musharraf writer, and a lawyer, Naeem Bukhari, who was author of a controversial letter against the chief justice, were badly thrashed by this group.
Former Senate Chairman Wasim Sajjad was roughed up at the Supreme Court, and at one point some lawyer activists burnt the copy of an apex court verdict simply because it was not acceptable to them. One can always argue these were aberrations in what had come to be known as one of the most forceful lawyers’ movement for restoration of the judges and rule of law. Had these incidents been condemned at that stage, those who took the law in their own hands in Lahore on Tuesday wouldn’t have dared to do so.
Ironically, most of those linked to the lawyers’ movement, and the opposition parties of that time, preferred to recognise and condemn such fascist trends.The result is that today those who in the past had been directly responsible for supporting and promoting military rule, dictatorial actions and dismantling the rule of law in the country, are now coming forward to present themselves as better democrats. They are certainly not democrats. If anything, they are the people who are directly responsible for destroying everything that is democratic in the country.
Most observers of democratic struggle in this country are of the view that these incidents, serious as they are, should prove to be a wake-up call for both the democracy-loving politicians and lawyers. And if one can dare say, also for the media, especially the independent television networks, to take a step back and think how the name of freedom and democracy is being used by some to damage or destroy the very basis on which these lofty ideals are set.Pakistan’s chequered political history is witness to the fact that the opponents of democracy have always used such incidents to their advantage to disrupt the efforts for the establishment of rule of law in the country. Until two days ago the whole nation was in an upbeat mood, celebrating the restoration of democracy, and hoping for a better future.
These incidents have somehow disturbed them, if not dashed their hopes outright.However, there is still hope. It’s mainly because there exists in the country a very strong coalition of political forces who have suffered in the past at the hands of dictators. But these seasoned politicians and leaders of the lawyers’ movement need to rise to the occasion and instead of getting involved in petty issues and score-settling, deliver democracy and rule of law.They are quite capable of delivering, provided there is realisation about the gravity of situation, and a will to do so. If they fail, the real loser will be democracy, and the people of Pakistan.
- Lawyers rough up Former Parliamentary Minister Sher Afghan
- ‘Black coats’ or ‘Blackshirts’!
- Third Act of assult by Lawyers is an eye opener. Writer Naeem Bokhari and
Former Senate Chairman Wasim Sajjad were the first ones
IF Monday’s incident inside the Sindh assembly was despicable, the treatment meted out to veteran politician Sher Afgan Niazi by a group of ‘lawyers’ in Lahore yesterday has perhaps put the entire nation to shame.The images of Arbab Ghulam Rahim being thrashed by an unruly band of PPP activists in Karachi were still fresh in the minds of most people, when the television screens started to flash some of the most disturbing images of people in black coats beating, abusing and humiliating a former minister. Sher Afgan’s only crime was that he didn’t agree with the lawyers’ movement, sided with President Musharraf on the issue of proclamation of emergency, and even lost his seat in the elections after being dumped by the then ruling PML-Q.Perhaps in civilised societies even criminals are not treated the way some of the people treated Sher Afgan outside a lawyer’s chamber.
During the chaotic situation in Lahore on Tuesday, when this group of lawyers refused to listen even to their leader Aitzaz Ahsan, there were clear signs that if not checked at this stage the ‘black coats’ may soon be replaced by what were once known in Europe as the ‘Blackshirts’.Indeed, what was being dubbed as a movement for restoration of democracy and rule of law was clearly showing signs of fascism.Sher Afgan Niazi has always been a controversial person, and the way he had taken upon himself the task to defend all of the President’s actions earned him the reputation of being more loyal than the king.At a time when most leaders of the previous governments were clearly avoiding taking a position on President Musharraf’s move to impose emergency, Sher Afgan was perhaps the only minister in the previous cabinet to publicly support or justify the presidential action. Of course, it made many people in the country quite angry. But could that justify such uncivilised behaviour? Certainly not.One can argue about the real causes for this kind of intolerance in the society, and there is every reason to believe that because of repeated disruptions in the democratic process, many people have adopted violent means to voice their grievances.
Still, there can be no justification for the way senior politicians and lawyers have failed to control their supporters, who are bent upon settling scores the way they feel is the right way.Perhaps the first signs of such ‘fascist’ trends were seen when after the restoration of Iftikhar Mohammed Chaudhry the first time a group of lawyers in Rawalpindi took upon itself the task of enforcing their style of justice system.
During this period, at least one pro-Musharraf writer, and a lawyer, Naeem Bukhari, who was author of a controversial letter against the chief justice, were badly thrashed by this group.
Former Senate Chairman Wasim Sajjad was roughed up at the Supreme Court, and at one point some lawyer activists burnt the copy of an apex court verdict simply because it was not acceptable to them. One can always argue these were aberrations in what had come to be known as one of the most forceful lawyers’ movement for restoration of the judges and rule of law. Had these incidents been condemned at that stage, those who took the law in their own hands in Lahore on Tuesday wouldn’t have dared to do so.
Ironically, most of those linked to the lawyers’ movement, and the opposition parties of that time, preferred to recognise and condemn such fascist trends.The result is that today those who in the past had been directly responsible for supporting and promoting military rule, dictatorial actions and dismantling the rule of law in the country, are now coming forward to present themselves as better democrats. They are certainly not democrats. If anything, they are the people who are directly responsible for destroying everything that is democratic in the country.
Most observers of democratic struggle in this country are of the view that these incidents, serious as they are, should prove to be a wake-up call for both the democracy-loving politicians and lawyers. And if one can dare say, also for the media, especially the independent television networks, to take a step back and think how the name of freedom and democracy is being used by some to damage or destroy the very basis on which these lofty ideals are set.Pakistan’s chequered political history is witness to the fact that the opponents of democracy have always used such incidents to their advantage to disrupt the efforts for the establishment of rule of law in the country. Until two days ago the whole nation was in an upbeat mood, celebrating the restoration of democracy, and hoping for a better future.
These incidents have somehow disturbed them, if not dashed their hopes outright.However, there is still hope. It’s mainly because there exists in the country a very strong coalition of political forces who have suffered in the past at the hands of dictators. But these seasoned politicians and leaders of the lawyers’ movement need to rise to the occasion and instead of getting involved in petty issues and score-settling, deliver democracy and rule of law.They are quite capable of delivering, provided there is realisation about the gravity of situation, and a will to do so. If they fail, the real loser will be democracy, and the people of Pakistan.
Nuclear Plants from China to add 1280 MW
Nuclear power plants of 1280MW: Pakistan to seek financing from China
By Zafar Bhutta ISLAMABAD: Pakistan has decided to seek major chunk of financing from China for setting up four new nuclear power units of 1280MW to bridge gap between supply and demand, sources told Daily Times on Tuesday.Sources said that Pakistan would place request before Chinese authorities during the upcoming visit of President Pervez Musharraf to China.Sources said that proposed nuclear units of 320MW each would be set up to generate 1280MW power by nuclear resources under the vision 2030. Two units of 320MW each will be set up in Chashma and two units will be established in Karachi.They said that Finance Ministry is working on the process of getting financing from different countries including China and it would also chalk out the strategy to generate financing through joint venture by different countries.The first phase project of Chashma Nuclear Plant was commissioned in September 2000. Chinese Company is already working on second phase of Chashma nuclear power plant and in May 2004,Pakistan and China signed a contract to jointly build the second phase project of Chashma Nuclear Power Plant. China agreed to provide $350 million credit and will complete the project in 2011.They said that the current installed electricity generation capacity stands at 19,400MW that would be increased to 162,590MW by 2030 as the energy consumption would rise to 7 fold by 2030.Government has planned a major shift to coal, nuclear and renewable resources to achieve the set target of electricity generation.At present Pakistan is mainly depending on hydel power generation that has dropped to 2000 MW power due to water shortages in the country. Pakistan is now looking towards wind, coal, and nuclear and solar resources to increase the power generation. Pakistan is said to face around 1400 MW power shortfall constantly by 2010.At present the country is facing a power shortfall of 1500MW to 2000MW.The power crisis emerged as the private sector has not increased its power generation capacity and new Independent Power Producers (IPPs) were not set up for many years. Sources said that Pakistan Electric Power Company (PEPCO) authorities have given briefing to the Prime Minister about the plan of adding 2200 MW power to the current power system in one year. Premier has directed the concerned authorities to carry out the plan. Prime Minister has also directed the public sector also to go side by side with the private sector for setting up power plants so that the dependence on the private sector could be minimised. On the other hand, PEPCO would add 1100MW power to the current power system by rental plants during current calendar year. 450MW by rental plants would be added by June 2008 and the rest power would be added by December 2008.The capacity of current existing power generation system would be enhanced by 309MW during 2008.Two IPPs that include Saif and Orient would add around 500MW power to the current power system. Saif IPP would start providing power supply by July whereas Orient would supply power by October 2008.
By Zafar Bhutta ISLAMABAD: Pakistan has decided to seek major chunk of financing from China for setting up four new nuclear power units of 1280MW to bridge gap between supply and demand, sources told Daily Times on Tuesday.Sources said that Pakistan would place request before Chinese authorities during the upcoming visit of President Pervez Musharraf to China.Sources said that proposed nuclear units of 320MW each would be set up to generate 1280MW power by nuclear resources under the vision 2030. Two units of 320MW each will be set up in Chashma and two units will be established in Karachi.They said that Finance Ministry is working on the process of getting financing from different countries including China and it would also chalk out the strategy to generate financing through joint venture by different countries.The first phase project of Chashma Nuclear Plant was commissioned in September 2000. Chinese Company is already working on second phase of Chashma nuclear power plant and in May 2004,Pakistan and China signed a contract to jointly build the second phase project of Chashma Nuclear Power Plant. China agreed to provide $350 million credit and will complete the project in 2011.They said that the current installed electricity generation capacity stands at 19,400MW that would be increased to 162,590MW by 2030 as the energy consumption would rise to 7 fold by 2030.Government has planned a major shift to coal, nuclear and renewable resources to achieve the set target of electricity generation.At present Pakistan is mainly depending on hydel power generation that has dropped to 2000 MW power due to water shortages in the country. Pakistan is now looking towards wind, coal, and nuclear and solar resources to increase the power generation. Pakistan is said to face around 1400 MW power shortfall constantly by 2010.At present the country is facing a power shortfall of 1500MW to 2000MW.The power crisis emerged as the private sector has not increased its power generation capacity and new Independent Power Producers (IPPs) were not set up for many years. Sources said that Pakistan Electric Power Company (PEPCO) authorities have given briefing to the Prime Minister about the plan of adding 2200 MW power to the current power system in one year. Premier has directed the concerned authorities to carry out the plan. Prime Minister has also directed the public sector also to go side by side with the private sector for setting up power plants so that the dependence on the private sector could be minimised. On the other hand, PEPCO would add 1100MW power to the current power system by rental plants during current calendar year. 450MW by rental plants would be added by June 2008 and the rest power would be added by December 2008.The capacity of current existing power generation system would be enhanced by 309MW during 2008.Two IPPs that include Saif and Orient would add around 500MW power to the current power system. Saif IPP would start providing power supply by July whereas Orient would supply power by October 2008.
Wednesday, April 2, 2008
Basha Dam to cost $8.5 billion
Basha Diamer Dam Project: Setting up of 4 hydropower stations recommended
By Zafar Bhutta ISLAMABAD: Bhasha consultant, the German Company Lemhyer has recommended the government to set up four hydropower stations of 1,150MW under Bhasha Diamer Dam Project for the royalty to North West Frontier Province (NWFP) and Northern Areas, sources told Daily Times on Wednesday.The German Company Lemhyer has recently completed the draft of detailed engineering design of Bhasha Dam Project.
The draft has been circulated to concerned departments and ministries. However, the final engineering design would formally be issued by June 30. Bhasha dam is one of the five major reservoirs that President Pervez Musharraf announced in 2005.In the detailed draft engineering design circulated to different concerned departments, sources said, the company has recommended to keep flow rate of water at the level to fill the dam in four years. According to the initial design, it was recommended to fill the dam in two years. The company has also recommended storing 60 percent water in the dam from the water inflows and release 40 percent water from dam to generate power and irrigation, sources said. The official informed that German Company has also recommended to the government to maintain outflow of 35,000 cusecs water from the dam every month. In the draft, the company has asked to keep 1,160-meter height of the dam instead of 1,170 meters height set earlier.
The company has said that this change in height will help to store the water at the time of sudden melting of glaciers.The company will give the presentation to the Water and Power Development Authority (WAPDA) on April 7 on the resettlement action plan in which recommendations have been made to resettle the affected population followed by the construction of Bhasha dam.They said the company in the draft had indicated that 27,000 families would be affected by the construction of the Bhasha dam. The company has recommended setting up nine model villages near Gilgit to accommodate these affected families.
The company has also recommended allotting five Marlas for residence per family and six canals to one family for agriculture purpose. “The company will brief the WAPDA on April 30 about the environmental impact of the dam’s construction and all stakeholders will hold meeting to review the environmental impact of the dam construction in the third week in Gilgat,” sources said. Diamer Bhasha consultants in the detailed engineering design have indicated cost of $8.505 billion at present against the earlier projected cost of $6.5 billion in year 2005.Government had allocated Rs 2 billion for the land acquisition of the Bhasha dam under Public Sector Development Programme (PSDP) 2007-08 that has not been released to acquire land, an official added. Government will also generate funds from foreign financial institutions to carry out the project.“We are waiting from the call of North West Frontier Province (NWFP) government and will provide money whenever NWFP government calls for it, official said adding that the work on the land acquisition of Bhasha dam has not been started so far.Official said that the work on a Karakuram Highway to link Bhasha dam was in progress but no progress on land acquisition has been made because not a single penny had been spent in this regard so far. Karakuram Highway for Bhasha dam project would be upgraded at cost of Rs 11.578 billion to link Karakuram Highway with Bhasha dam, official said.
By Zafar Bhutta ISLAMABAD: Bhasha consultant, the German Company Lemhyer has recommended the government to set up four hydropower stations of 1,150MW under Bhasha Diamer Dam Project for the royalty to North West Frontier Province (NWFP) and Northern Areas, sources told Daily Times on Wednesday.The German Company Lemhyer has recently completed the draft of detailed engineering design of Bhasha Dam Project.
The draft has been circulated to concerned departments and ministries. However, the final engineering design would formally be issued by June 30. Bhasha dam is one of the five major reservoirs that President Pervez Musharraf announced in 2005.In the detailed draft engineering design circulated to different concerned departments, sources said, the company has recommended to keep flow rate of water at the level to fill the dam in four years. According to the initial design, it was recommended to fill the dam in two years. The company has also recommended storing 60 percent water in the dam from the water inflows and release 40 percent water from dam to generate power and irrigation, sources said. The official informed that German Company has also recommended to the government to maintain outflow of 35,000 cusecs water from the dam every month. In the draft, the company has asked to keep 1,160-meter height of the dam instead of 1,170 meters height set earlier.
The company has said that this change in height will help to store the water at the time of sudden melting of glaciers.The company will give the presentation to the Water and Power Development Authority (WAPDA) on April 7 on the resettlement action plan in which recommendations have been made to resettle the affected population followed by the construction of Bhasha dam.They said the company in the draft had indicated that 27,000 families would be affected by the construction of the Bhasha dam. The company has recommended setting up nine model villages near Gilgit to accommodate these affected families.
The company has also recommended allotting five Marlas for residence per family and six canals to one family for agriculture purpose. “The company will brief the WAPDA on April 30 about the environmental impact of the dam’s construction and all stakeholders will hold meeting to review the environmental impact of the dam construction in the third week in Gilgat,” sources said. Diamer Bhasha consultants in the detailed engineering design have indicated cost of $8.505 billion at present against the earlier projected cost of $6.5 billion in year 2005.Government had allocated Rs 2 billion for the land acquisition of the Bhasha dam under Public Sector Development Programme (PSDP) 2007-08 that has not been released to acquire land, an official added. Government will also generate funds from foreign financial institutions to carry out the project.“We are waiting from the call of North West Frontier Province (NWFP) government and will provide money whenever NWFP government calls for it, official said adding that the work on the land acquisition of Bhasha dam has not been started so far.Official said that the work on a Karakuram Highway to link Bhasha dam was in progress but no progress on land acquisition has been made because not a single penny had been spent in this regard so far. Karakuram Highway for Bhasha dam project would be upgraded at cost of Rs 11.578 billion to link Karakuram Highway with Bhasha dam, official said.
New Govt setting up company to generate $355m for 525MW power plant
ISLAMABAD: The government will set up a special purpose company to generate financing worth $355 million from both local and foreign financial institutions for carrying out the 525-Megawatt gas based thermal power plant at Chichoki Mallian, sources told Daily Times here on Tuesday.They said that cost of the project is $355 million that was negotiated between Pakistan Electric Power Company (PEPCO) and Chinese company Dong Fong. They said that a special purpose company would be set up to generate financing of $355 million from local as well as foreign banks.At present the country is mainly depending on hydel power generation and due to water shortage the hydel power generation has dropped to around 2300 MW per day from 3200 MW. The officials are of the view that the country would be facing around 1400 MW power shortfall by 2010.At present the thermal power generation stands at 4800 MW by IPPs and 3000 MW by Wapda. After the completion of the thermal power plant at Chichoki Mallian, 525 MW thermal power would be added to the national power system in the next two years. Sources said that the cost of electricity generated through the project would stand at $0.67 million per MW and added that it would be the lowest cost than the electricity generated through Independent Power Producers (IPPs). They said that the cost of electricity generated through IPPs was $1.2 million per MW.Sources further said that the plant would be operated on gas and the per unit cost of the electricity generated through Chichoki Mallian thermal power plant would be 5.35 cents per unit or Rs 3.31 per unit. Sources also informed that PEPCO was receiving power from HUBCO at 17.50 cents per unit or Rs 10.40 per unit. “By setting up 525 MW gas based thermal power plant at Chichoki Mallian, public sector will be able to provide electricity at cheaper rates than the electricity being provided by IPPs, sources added. He said that the project would be completed within two years by 2010.They said that 450 MW power project at Nandipur (Gujranwala) was also being set up by public sector at the cost of $ 329 million and 525 Megawatt gas based thermal power plant at Chichoki Mallian would be the second project that would be owned by public sector.Chinese company Dong Fong Electric Corporation has already completed the hydro power plant at Ghazi Barotha project that is delivering 1450 MW power. The company is also recently working on five other power projects of 869 MW. A 4-member Chinese delegation headed by Si Zefu, Chairman M/S Dongfang Electric Company called on Federal Minister for Water and Power Raja Pervez Ashraf here on Tuesday. The minister invited the firm to participate in the power sector and asked to complete the projects by the company in Pakistan in the stipulated time.The minister said “we recognize the professional experience of the company and expressed the hope that the Chinese government would extend its support and assistance enabling Pakistan to overcome the power crisis. The Chairman of the Company said that his company is well aware of the power situation in Pakistan and assured that it would complete the project as per schedule.
Friday, March 21, 2008
Pakistan Farm Credit soars to $2 billion
Farm sector credit soars to Rs120.4bn or $ 2 billion
Pakistan banking sector development soars
Friday, March 21, 2008By our correspondentKARACHI: The disbursement of credit to the agriculture sector by commercial and specialised banks showed a growth of 30.46 per cent year-on-year during the first eight months (July 07-February 08) of the current fiscal year. According to the State Bank of Pakistan, banks disbursed Rs120.442 billion to the agriculture sector during July to February as compared to Rs92.319 billion in the same period last year, showing an absolute increase of Rs28.123 billion. Overall credit disbursement by five major commercial banks including
Allied Bank Ltd (ABL),
Habib Bank Ltd (HBL),
MCB Bank,
National Bank of Pakistan (NBP) and
United Bank Ltd (UBL) stood at Rs58.026 billion during July-February 2007-08, compared with Rs43.424 billion during the corresponding period of last year, depicting an increase of Rs14.602 billion or 33.62 per cent.
Zarai Taraqiati Bank Ltd (ZTBL), the largest specialized bank, disbursed Rs33.012 billion in July-February period, compared with Rs30.745 billion in corresponding period of last year, while disbursement by
Punjab Provincial Co-operative Bank Ltd
(PPCBL) recorded at Rs3.873 billion, compared with Rs4.824 billion last year. Besides, 14 domestic private banks (DPBs) also loaned a combined Rs25.530 billion during July-February period, up 91.60 per cent against Rs13.324 billion disbursed the last year. SBP had set an indicative target of Rs200 billion for the current fiscal year, up from Rs160 billion in the last fiscal year, showing an increase of Rs40 billion. During the last fiscal year, commercial and specialized banks had disbursed a total Rs168.3 billion to the agriculture sector.
Pakistan banking sector development soars
Friday, March 21, 2008By our correspondentKARACHI: The disbursement of credit to the agriculture sector by commercial and specialised banks showed a growth of 30.46 per cent year-on-year during the first eight months (July 07-February 08) of the current fiscal year. According to the State Bank of Pakistan, banks disbursed Rs120.442 billion to the agriculture sector during July to February as compared to Rs92.319 billion in the same period last year, showing an absolute increase of Rs28.123 billion. Overall credit disbursement by five major commercial banks including
Allied Bank Ltd (ABL),
Habib Bank Ltd (HBL),
MCB Bank,
National Bank of Pakistan (NBP) and
United Bank Ltd (UBL) stood at Rs58.026 billion during July-February 2007-08, compared with Rs43.424 billion during the corresponding period of last year, depicting an increase of Rs14.602 billion or 33.62 per cent.
Zarai Taraqiati Bank Ltd (ZTBL), the largest specialized bank, disbursed Rs33.012 billion in July-February period, compared with Rs30.745 billion in corresponding period of last year, while disbursement by
Punjab Provincial Co-operative Bank Ltd
(PPCBL) recorded at Rs3.873 billion, compared with Rs4.824 billion last year. Besides, 14 domestic private banks (DPBs) also loaned a combined Rs25.530 billion during July-February period, up 91.60 per cent against Rs13.324 billion disbursed the last year. SBP had set an indicative target of Rs200 billion for the current fiscal year, up from Rs160 billion in the last fiscal year, showing an increase of Rs40 billion. During the last fiscal year, commercial and specialized banks had disbursed a total Rs168.3 billion to the agriculture sector.
Flashy Lawmekers Take Seats in Pakistan
Flashy Lawmakers Take Seats in Pakistan
ISLAMABAD, Pakistan (AP) -- Gold-trimmed SUVs idle outside parliament. Among new female lawmakers, black Muslim veils are out and Gucci bags are in.
Civilian rule has returned to Pakistan, and its politicians have come back with bling.
Last month's elections ushered into parliament a new crop of business leaders and wealthy elites opposed to U.S.-backed President Pervez Musharraf's one-man rule.
''It's their cars, their fashion. They have all the latest models,'' said Sana Asad, a Pakistani journalist covering parliament. ''They're richer and more secular.''
''Perhaps it's because they're connected to the previous administrations -- the wealthy elites,'' she said.
Parliament's parking lot was crowded Wednesday with new Mercedes and Toyota sports utility vehicles festooned with flashy tire rims and hood ornaments. Women in bright colors clogged past in heels and huge designer sunglasses. Bodyguards fanned out.
The Feb. 18 elections saw a hard-line coalition of religious groups lose control of the country's northwest along the Afghan border, and only six Islamists win seats in parliament, compared to 68 in the previous legislature.
But as parliament elected its first female speaker Wednesday, just a single lawmaker -- one of 74 women in the 342-seat house -- covered her face with a light beige wrap. Others wore traditional flowing gowns, some with bare heads and others with their hair only partially covered by loose scarves.
Fehmida Mirza, a medical doctor, is the first woman elected as National Assembly speaker in Pakistan's 60-year history.
Half a dozen other female lawmakers touched her shoulders as Mirza, wearing a diamond nose ring and an elegant lavender tunic embroidered with silver rosettes and a deep V-neck, rose to take her oath.
''We are writing a new chapter in history,'' she said, diamond-studded pearl droplet earrings and a pouf of dark hair springing out from under her sheer veil. She repeatedly touched her forehead in a gesture of thanks to her peers a thick gold bracelet sliding down her arm.
''Benazir's dream has come true,'' said fellow party member Farzana Raja. ''We have proven we're not only chanting slogans for women's empowerment -- we're taking practical steps,'' she said, shoving the designer sunglasses back on her head and letting her headscarf slip off.
Nasim Zehra, a Pakistani analyst and fellow at Harvard University's Asia Center, cited ''a different texture in politics now.''
''The orientation of this parliament is different, with a different kind of people with different backgrounds,'' Zehra said.
On Wednesday, many male lawmakers arrived in designer clothing, including one who accented his tailored black suit with a bright pink tie. There were notably fewer beards and traditional turbans than in the previous parliament.
In the parking lot, Khaled Mahmood Javed sat behind the tinted windows of his shiny sedan flying the flag of Bhutto's Pakistan People's Party.
His brother, Rai Ghulam Murtaza, is an incoming lawmaker who first served under Bhutto in the 1980s.
''A lot of them are businessmen, and none are poor. They're big men -- important men -- and they're less religious too,'' Javed said of the new breed of legislators.
Pakistan has seen annual economic growth of about 7 percent for the past five years. Murtaza was among them, his brother said.
''My brother lived abroad for the past 15 years. He's a dual citizen of Canada,'' Javed said proudly.
Many of Pakistan's top politicians are feudal landlords. Others amassed fortunes in Pakistan's booming banking and telecom sectors while they sat out politics under Musharraf.
Outside parliament Wednesday, policemen sat in clusters under pine trees, watching new lawmakers parade past multicolored banners lining the drive up to the legislature's marble pillars.
''Rich candidates always do better. They have more connections,'' said one officer, lazily picking at wild dandelions.
''It's a bit of a charade, but it's also a big sign of democracy and hope,'' he said.
ISLAMABAD, Pakistan (AP) -- Gold-trimmed SUVs idle outside parliament. Among new female lawmakers, black Muslim veils are out and Gucci bags are in.
Civilian rule has returned to Pakistan, and its politicians have come back with bling.
Last month's elections ushered into parliament a new crop of business leaders and wealthy elites opposed to U.S.-backed President Pervez Musharraf's one-man rule.
''It's their cars, their fashion. They have all the latest models,'' said Sana Asad, a Pakistani journalist covering parliament. ''They're richer and more secular.''
''Perhaps it's because they're connected to the previous administrations -- the wealthy elites,'' she said.
Parliament's parking lot was crowded Wednesday with new Mercedes and Toyota sports utility vehicles festooned with flashy tire rims and hood ornaments. Women in bright colors clogged past in heels and huge designer sunglasses. Bodyguards fanned out.
The Feb. 18 elections saw a hard-line coalition of religious groups lose control of the country's northwest along the Afghan border, and only six Islamists win seats in parliament, compared to 68 in the previous legislature.
But as parliament elected its first female speaker Wednesday, just a single lawmaker -- one of 74 women in the 342-seat house -- covered her face with a light beige wrap. Others wore traditional flowing gowns, some with bare heads and others with their hair only partially covered by loose scarves.
Fehmida Mirza, a medical doctor, is the first woman elected as National Assembly speaker in Pakistan's 60-year history.
Half a dozen other female lawmakers touched her shoulders as Mirza, wearing a diamond nose ring and an elegant lavender tunic embroidered with silver rosettes and a deep V-neck, rose to take her oath.
''We are writing a new chapter in history,'' she said, diamond-studded pearl droplet earrings and a pouf of dark hair springing out from under her sheer veil. She repeatedly touched her forehead in a gesture of thanks to her peers a thick gold bracelet sliding down her arm.
''Benazir's dream has come true,'' said fellow party member Farzana Raja. ''We have proven we're not only chanting slogans for women's empowerment -- we're taking practical steps,'' she said, shoving the designer sunglasses back on her head and letting her headscarf slip off.
Nasim Zehra, a Pakistani analyst and fellow at Harvard University's Asia Center, cited ''a different texture in politics now.''
''The orientation of this parliament is different, with a different kind of people with different backgrounds,'' Zehra said.
On Wednesday, many male lawmakers arrived in designer clothing, including one who accented his tailored black suit with a bright pink tie. There were notably fewer beards and traditional turbans than in the previous parliament.
In the parking lot, Khaled Mahmood Javed sat behind the tinted windows of his shiny sedan flying the flag of Bhutto's Pakistan People's Party.
His brother, Rai Ghulam Murtaza, is an incoming lawmaker who first served under Bhutto in the 1980s.
''A lot of them are businessmen, and none are poor. They're big men -- important men -- and they're less religious too,'' Javed said of the new breed of legislators.
Pakistan has seen annual economic growth of about 7 percent for the past five years. Murtaza was among them, his brother said.
''My brother lived abroad for the past 15 years. He's a dual citizen of Canada,'' Javed said proudly.
Many of Pakistan's top politicians are feudal landlords. Others amassed fortunes in Pakistan's booming banking and telecom sectors while they sat out politics under Musharraf.
Outside parliament Wednesday, policemen sat in clusters under pine trees, watching new lawmakers parade past multicolored banners lining the drive up to the legislature's marble pillars.
''Rich candidates always do better. They have more connections,'' said one officer, lazily picking at wild dandelions.
''It's a bit of a charade, but it's also a big sign of democracy and hope,'' he said.
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