An engineering marvel of the century! NEELUM JHELUM Project set to produce power next year

on 07/05/2017

Chairman Water and Power Development Authority (WAPDA) Lt. Gen. Muzammil Hussain (R) has said the first unit of the project is planned to commence electricity generation by end February 2018 A communication said the second phase would begin in March and the third and fourth in April 2018. The project will contribute about 5 billion units of electricity to the National Grid every year. The 969 MW-Neelum Jhelum Hydropower Project (NJHP) is scheduled to attain a major landmark, when the second Tunnel Boring Machine (TBM) will achieve breakthrough of the Right Headrace Tunnel. The target set to achieve during the last week of April, marking the completion of excavation of over 68-kilometer long tunnel system of the project. The breakthrough of Left Headrace Tunnel was achieved in October 2016. To review the ongoing construction work on various sites of the project, Hussain today visited the under construction NJHP in Azad Jammu and Kashmir (AJ&K). Speaking on the occasion, the Chairman said that it is a matter of satisfaction that overall progress on the project as of now is 92 percent, and the project is heading towards its completion in accordance with the stipulated work plan. During his visit to the headrace tunnel, the Chairman was briefed that following excavation of the tunnels, the water way system will enter the final phase which is scheduled to be completed in seven months. Thereafter, the tunnels will be ready to divert water from Dam site to the Power House. It was further briefed that impounding of the Reservoir will commence during October this year. Chairman WAPDA said that once completed, NJHP would be an engineering marvel of the century. It is worth mentioning that the first unit of the project is planned to commence electricity generation by end February 2018, second in March and the third and fourth in April 2018. The project will contribute about 5 billion units of electricity to the National Grid every year. (PR)

Chinese company to set up cross-border telecom infrastructure

on 07/05/2017

China Telecommunications Corp will set up resources to complete cross-border telecom infrastructure initiatives including the China-Pakistan information corridor, China-Laos-Thailand and China-Bangladesh-Myanmar-India projects. “Cross-border telecommunication infrastructure is one of the first steps for international cooperation,” Deng Xiaofeng, CEO of its international unit China Telecom Global Ltd said. “Our experience in deploying one of the world’s largest information networks in China can help narrow the digital gap,” he added. The company will invest more than $1 billion over the next three to five years to expand its presence in the economies along the Belt and Road Initiative including Pakistan. He said it will also raise more money from state-owned financing institutions and private investors, in a move to build land cables, internet data centers and other infrastructure in Southeast Asia, Europe and other regions. “State-owned and private capital are now keen to be part of our efforts. We also need their expertise to help us evaluate whether the plans are plausible,” Deng added. Deng said the company did not exclude the possibility of investing in foreign telecom carriers to help other developing countries accelerate the development of 4G. But Deng did not disclose more details. As of 2016, China Telecom has more than 4,700 overseas employees, with branches and offices in 30 countries and regions, most of which are along the Belt and Road. It has already built 13 internet data centers in six of them. According to data from the International Telecommunication Union, the Asia-Pacific region scored 4.58 in informatisation level in 2016, lower than the global average of 4.94. Xiang Ligang, a telecom analyst and founder of the telecom industry website cctime.com, said China Telecom was one of the first Chinese telecom carriers to go global, with the push starting in the 1990s. “Its expansion plans will also help more Chinese telecom equipment makers venture into overseas markets,” Xiang said. China Telecom expects that China’s plan to help economies along the Belt and Road improve telecom services will create a market worth $10 billion to $20 billion for the telecom industry over the next five years.

Plan to revive sick textile unit gets nod

on 07/05/2017

The National Assembly`s Standing Committee on Finance has supported the proposal by the textile sector to restructure bank loans of sick units to help their revival. Members of the textile sector informed the committee that the revival of sick units will earn $1 billion in foreign exchange and create five million jobs. Committee chairman Qaiser Ahmed Sheikh noted that exports have declined from $25bn to $20bn in the last four years and the decrease will continue if its basic causes are not addressed. The representatives of the textile sector identified a high cost of LNG, non-clearance of refunds and government borrowing by banks as major causes that led to the decline in exports. Committee members noted that the government borrows heavily from banks and leaves no space for the private sector to obtain loans. The meeting was also informed that exports from Bangladesh have increased from $24bn to $34bn.

Sialkot Businessmen demand Parallel Support Industry

on 06/05/2017

Pakistan’s vibrant export hub, Sialkot, has asked the economic managers of the country to establish a parallel support industry to encourage businessmen and investors to play their part in a bid to complement the existing manufacturing setup of the country. “The support industry will help the export-oriented industries to cut their costs thereby reducing the import bill of the country,” said Sialkot Chamber of Commerce and Industries (SCCI) President Majid Raza Bhutta. He said it would make ‘made in Pakistan’ products more acceptable in cost-competitive global markets, hence increasing the export revenues of the country. Currently, the export sector of Pakistan relies heavily on import of raw materials especially from China for further value-addition and re-exports. This practice adds to the cost of doing business and is a major contributor towards increasing import bill. Bhutta said that Pakistan has seen many industrial surges where new industries were established yet no work has ever been done to invest in support industry. Despite all the recommendations of Sialkot’s business community, to protect and further enhance the diversification of product lines within the five key export industries the city is famous for, the stakeholders feel a sense of negligence from current as well as previous governments in acceptance of such demands. According to Bhutta, more than 99% of the city’s business is export-oriented and regardless of overall decline exports trend, Sialkot has managed to grip its exports share, which is around $2 billion. “We claim that in Pakistan there is no other city manufacturing export-oriented value-added products through Small and Medium Enterprises, we just need friendly policies not incentives from the government to further boost the export revenues,” he added.

Electric and hybrid cars in China by 2020: GM

on 06/05/2017

General Motors Co. plans to launch 10 electric and gasoline-electric hybrid vehicles in China by 2020, an executive said, as automakers speed up the roll-out of alternative vehicles under pressure from Beijing to promote the industry. GM will start production of a pure-electric model in China within two years, Matt Tsien, president of GM China, told a news conference during the Shanghai auto show. He said GM expects annual sales of 150,000 electric and hybrid cars in China by 2020 and possibly in excess of 500,000 by 2025. Ford Motor Co., Volkswagen AG, Nissan Motor Co. and other automakers also have announced aggressive plans to make and sell electric vehicles in China, the biggest auto market by number of units sold. GM unveiled in April a hybrid version of the Chevrolet Volt to be manufactured in China and sold under its Buick brand. China’s communist government has the world’s most ambitious electric car goals, hoping both to clean up smog-choked cities and to take a lead in an emerging industry. Regulators are pressing foreign brands to help develop the industry. Regulators jolted the industry by proposing a requirement that electrics account for at least 8 percent of each brand’s production by next year, rising to 10 percent in 2019 and 12 percent in 2020. Automakers say they may be unable to meet those targets and regulators have suggested they might be reduced or postponed. Beijing also is due to enforce what auto executives say are the world’s most stringent emissions standards. They say that is likely to require all manufacturers to include electrics in their lineup to meet targets for average fleet emissions. “In the next several years, out to 2020, we expect to launch at least 10 new energy vehicles into the marketplace,” said Tsien, using the government’s term for electric and hybrid vehicles. “We have a pipeline that is going to materialize, that’s going to put us in a very good position from a fuel economy requirement perspective.” All the vehicles will be manufactured in China, he said. GM, which competes with VW for the status of China’s top-selling automaker, reported 2016 sales rose 7.1 percent to a record 3.9 million vehicles. Foreign automakers had been reluctant to sell electric cars in China because regulators required them to transfer valuable intellectual property to local partners or face import duties of 25 percent even if the vehicles were produced at a Chinese factory. Beijing has eased those requirements in an effort to attract foreign participants, though automakers say the final ground rules for electric vehicle production have yet to be announced. “We have concerns relative to amount of IP that has to be shared. We have a fairly clear understanding of what the rules of engagement are,” said Tsien. “For vehicles where General Motors owns the IP, we have had longstanding technology licensing agreements with our partner. Those work effectively.” The government is expanding China’s network of charging stations to reduce “range anxiety,” or buyers’ fear of running out of power. The Cabinet’s planning agency announced a goal in February of having 100,000 public charging stations and 800,000 private stations operating by the end of this year.