If All The Oil Reserves of Saudia Arab & Iran Put Together These Are Approximately 375 Billion Barrels,But A Single Thar Coal Reserve Of Sindh is about 850 Trillion Cubic Feet, Which is More Than Oil Reserves Of Saudia & Iran.
These reserves estimated at 850 trillion cubic feet (TCF) of gas, about 30 times higher than Pakistan 's proven gas reserves of 28 TCF.
Dr Murtaza Mughal president of Pakistan Economy Watch in a statement said that these reserves of coal worth USD 25 trillion can not only cater the electricity requirements of the country for next 100 years but also save almost four billion dollars in staggering oil import bill.
Just 2% usage of Thar Coal Can Produce 20,000 Mega Watts of Electricity for next 40Years ,without any single Second of Load Shedding. and if the whole reserves are utilized, then it could easily be imagined how much energy could be generated.
The coal power generation would cost Pakistan PKR 5.67 per unit while power generated by Independent Power Projects cost PKR 9.27.
It Requires Just Initial 420 Billion Rupees Initial Investment, Whereas Pakistan Receives annually 1220 Billion from Tax Only.
Chinese and other companies had not only carried out surveys and feasibilities of this project but also offered 100 percent investment in last 7 to 8 years but the “Petroleum Gang” always discouraged them in a very systematic way.
But Petroleum lobby , is very strong in Pakistan and they are against any other means of power generation except for the imported oil. This lobby is major beneficiary of the increasing oil bill that is estimated above 15 billion dollar this year.Even GOV. is planning to Sell all these reserve to a company on a very low price. When Pervez Musharraf was president he gave green signal to embark upon the initiation of work on exploiting energy potential of these coal reserves of Thar under a modern strategy.
Think About This, How We Can Help Our Home Land .
(GOD HELP THOSE WHO HELP THEMSELVES)
Labels: Economy and Business, Pakistan Economy, Thar Coal Reserves
posted @ 10:04 AM,
Wednesday, May 25, 2011
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posted @ 10:41 AM,
Dominique Strauss-Kahn’s resignation as the 10th leader of the International Monetary Fund kicks off a contest on his successor, as European officials seek to retain the job amid a lack of unity among emerging-market nations.
The Washington-based lender that approved a record $91.7 billion in emergency loans last year and provides a third of the euro-region’s bailout packages said it will “communicate in the near future” on the process of finding a new chief. John Lipsky, the No. 2 official at the fund, who is scheduled to retire in August, remains as acting leader, the fund said in its statement.
European officials, who have picked the IMF heads for 65 years under a deal that gives the U.S. the lock on running the World Bank, moved to retain their privilege. Sweden’s finance minister endorsed his French counterpart Christine Lagarde, while Dutch central bank Governor Nout Wellink suggested outgoing European Central Bank President Jean-Claude Trichet.
“Time is of the essence,” said Julie Chon, a senior fellow at the Washington-based Atlantic Council and former adviser to the U.S. Senate Banking Committee. “The longer the IMF allows the specter of uncertainty to hang over its leadership, the more exposed it becomes to the jittery actions of sovereign debt and foreign exchange traders who have been speculating on what the leadership vacuum means for their portfolios.”
Strauss-Kahn’s five-year term had 17 months remaining. In past successions, incoming managing directors were appointed to fresh five-year tenures.
France’s Lagarde “presents very strong leadership” which is “important on building consensus in important issues,” Swedish Finance Minister Anders Borg told Sky News yesterday. Wellink, an ECB Governing Council member, told the Dutch talk show Knevel & Van den Brink late last night: “I know a fantastic candidate, that’s Jean-Claude Trichet,” whose term ends in October.
South Africa and Russia said yesterday the next head of the IFM should come from an emerging economy. Trevor Manuel, head of South Africa’s National Planning Commission, is “highly respected in the world,” Finance Minister Pravin Gordhan said in an interview in Pretoria.
Russian central bank Deputy Chairman Sergei Shvetsov said a developing country should be given the chance to run the IMF to better reflect the role of those economies in global trade. South Korea’s central bank governor made similar remarks before the announcement late yesterday that Strauss-Kahn would resign.
‘Proving My Innocence’
“I want to protect this institution which I have served with honor and devotion, and especially -- especially -- I want to devote all my strength, all my time, and all my energy to proving my innocence,” Strauss-Kahn said in the statement released by the IMF.
Strauss-Kahn was arrested May 14 on accusations of sexually assaulting a hotel maid in New York, and has been held at New York’s Rikers Island jail complex since he was ordered held in custody at his arraignment May 16. A French citizen, he is asking a second judge to release him on bail.
Morris Goldstein, a fellow at the Peterson Institute for International Economics in Washington who was an IMF official for 24 years, said earlier this week that potential emerging- market candidates to head the IMF include Singapore Finance Minister Tharman Shanmugaratnam, former Turkish Economic Minister Kemal Dervis and India’s Montek Singh Ahluwalia, a top economic aide to the prime minister. Turkish Finance Minister Mehmet Simsek said there’s no reason he couldn’t do the job.
“The most important thing is to move decisively to appoint the best qualified person for the job,” Australian Treasurer Wayne Swan said through a spokesman. “Uncertainty around a new Managing Director of the IMF is not in the interests of the global economy or the institution itself.”
posted @ 12:07 PM,
Money Market Updates
The State Bank of Pakistan (SBP) sold Rs 45.803 billion worth of Ijara Sukuk (Islamic bonds) for the period of three years in its auction held here Monday. The SBP received bids worth of Rs 51.253 billion for three-year Ijara Sukuk from the primary dealers in the auction including commercial banks and Islamic banks. Primary dealers have been allowed to sell Ijara Sukuk to eligible investors with margins varies from negative100 to positive 50 basis points.
For the first time ever in the country’s history, exports have crossed the $20 billion mark in the first 10 months of the current financial year. According to statistics provided by Trade Development Authority of Pakistan (TDAP), Pakistan’s exports in April 2011 were recorded at $2.38 billion, 40 percent higher than the level of $1.7 billion in April 2010. Pakistan has been consistently crossing the $2.0 billion mark for the last five months of current financial year. According to official sources in TDAP, the country is likely to achieve record exports of $24 billion this year given the current resilience in exports.
The debt-stricken country’s total debts and liabilities during July-March FY11 have swelled to Rs 11.239 trillion, a figure that account for over Rs 1 trillion or 9.9 percent more than what Pakistan owed during the whole of last financial year, 2009-10. During the last financial year, debts and liabilities stood at Rs 10.221 trillion while during the preceding year, FY09, it came out at Rs 8.746 trillion. State Bank of Pakistan (SBP) data illustrates that during the first three quarters, the government’s domestic debts have grown to 33.2 percent of the GDP as compared to 31.4 percent of FY10.
Heavy domestic borrowing, naturally, pushed the country’s public debts skywards to stand at Rs 10.206 trillion registering an increase of 12 percent or Rs 1.989 trillion when compared with last year’s figure of Rs 9.107 trillion.
Labels: Economy and Business, Money Market, Pakistan Economy
posted @ 11:07 AM,
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posted @ 10:43 AM,
There was a man who worked for the Post Office whose job was to process all the mail that had illegible addresses. One day, a letter came addressed in a shaky handwriting to God with no actual address. He thought he should open it to see what it was about.
The letter read:
I am an 83 year old widow, living on a very small pension. Yesterday someone stole my purse. It had $100 in it, which was all the money I had until my next pension payment. Next Sunday is Christmas, and I had invited two of my friends over for dinner. Without that money, I have nothing to buy food with, have no family to turn to, and you are my only hope.
Can you please help me?
The postal worker was touched. He showed the letter to all the other workers. Each one dug into his or her wallet and came up with a few dollars. By the time he made the rounds, he had collected $96, which they put into an envelope and sent to the woman. The rest of the day, all the workers felt a warm glow thinking of Edna and the dinner she would be able to share with her friends.
Christmas came and went.
A few days later, another letter came from the same old lady to God.
All the workers gathered around while the letter was opened.
How can I ever thank you enough for what you did for me? Because of your gift of love, I was able to fix a glorious dinner for my friends. We had a very nice day and I told my friends of your wonderful gift. By the way, there was $4 missing. I think it might have been taken by those bastards at the post office.
Labels: Letter to God
posted @ 10:21 AM,