PTA approves investment in Telecom Tower-Sharing Services Company

PR:  Today, edotco Pakistan Private Limited (edotco PK), obtained the approval of Pakistan Telecommunication Authority (PTA) on the change of shareholding in edotco PK by way of subscription by Dawood Hercules Corporation Limited (DH Corp) of 45% of the share capital of edotco PK, an end-to-end telecom infrastructure services company. This positive decision of the Government and the Regulator is a welcome promotion of the digital agenda making Pakistan an attractive destination for foreign investment.

The above marks one of the approvals related to the transaction steps on the acquisition by edotco PK of Jazz’s portfolio of 13,000 tower assets currently under Deodar Private Limited (Deodar).  Further regulatory approvals are in process of being granted by PTA on the change of shareholding structure in Deodar, and by State Bank of Pakistan on the funding of the acquisition.

Reference: www.technologytimes.pk

KOICA Held Pre-Departure Orientation for Economic Development Strategy for Public Officials

 

Korea International Cooperation Agency (KOICA) Pakistan held a pre-departure meeting for 17 high level government officials for Country Focused Training program on “Economic Development Strategy” scheduled to be held in Korea from March 18~31, 2018. The intended training program aims to provide useful insight and guideline on economic development by sharing Korea’s economic development experience and to strengthen policy making and implementation capacity of Government officials from Pakistan.

Addressing at the occasion, newly arrived Ambassador of the Republic of Korea to Pakistan, Mr.  Kwak Sung-Kyu welcomed the participants and said that Pakistan is a resource-rich country and possesses Natural resources like mineral, fuel, natural gas and agricultural land and has a high potential to transform in to developed Nation. The training will be focused on enhancing vision of you on socio-economic development of Korea and I hope you can learn and apply those lessons for sustainable development of Pakistan and fostering Korea-Pakistan development cooperation.

The participants are from different Ministries including Planning commission, Economic Affairs, Capital Administration and Federal Board of Revenue. Mr. Muhamamd Humair Karim Joint Secretary EAD assured their support for strengthening ties between Pakistan and South Korea and paid their gratitude to the Korean government for offering this much needed training Program. Mr. Abdul Rahman Khan and Mr. Muhammad Ali Raza Program coordinators of KOICA briefly introduced the courses and orientate participants about the Pre- Departure logistics of the training program.

Reference: www.technologytimes.pk

NA body recommends Rs25,626 mln PSDP proposals for Commerce, Textile Ministry

ISLAMABAD, Feb 9 (APP):The Standing Committee on Commerce and Textile Friday recommended Public Sector Development Programme (PSDP) proposals of Ministry of Commerce and Textile amounting to Rs.25,626.577 million for the financial year 2018-19.
According to press statement issued by the National Assembly Secretariat here, the the meeting of the committee was held under the chairmanship of MNA, Siraj Muhammad Khan.
The Committee was separately apprised about the proposed PSDP of Commerce and Textile Divisions, the statement added.
Additional Secretary, Commerce Division informed that the Division had proposed allocation of PSDP fund amounting to Rs.8550 million for financial year 2018-19 for seven projects.
The projects include establishment of new Exp-Centers at Islamabad, Quetta and Faisalabad, expansion or remodeling of Expo-Center at Karachi, provision hostel and transport facility to student at Pakistan Institute of Fashion and Design, Lahore and an ongoing project relating to Expo-Center at Peshawar.
Secretary Textile Division apprised the Committee about the proposed PSDP allocation for the project of Textile Division. He informed that Rs.11012.372 million had been proposed for 5 new projects whereas Rs.6064.205 had been proposed for 7 projects, which were being resubmitted for approval by the Planning and Development Division.
Apprising the Committee about the new projects, the Secretary said that the projects include establishment of National Textile University (NTU) Campus at Quetta, Garment City Project at Karachi, construction of new library at NTU campus at Faisalabad and implementation of system for standardization of high quality cotton.
He also apprised the committee the projects being resubmitted for approval related to PM Skill Development Program for Textile Industry and studies for climatic change, recycling of organic wastes, restoration of soil fertility and cost management in cotton production and marketing.
The Committee after thorough discussion recommended the entire proposed PSDP of the Ministry for inclusion in Budget for next financial year.
The Committee expressed satisfaction on the progress and implementation of its recommendations by the divisions concerned. The Committee directed Commerce Division to expedite the proposed amendment in Pakistan Tobacco Board Act which would ensure supply of registered and certified Tobacco seed to the growers.
Among others, the meeting was attended by Haji Muhammad Akram Ansari, Minister of State for Commerce and Textile, MNAs; Ch. Asad-ur-Rehman, Mrs. Seema Mohiuddin Jameeli, Ms. Tahira Aurangzeb, Ms. Zeb Jaffar, Dr. Shezra Mansab Ali Khan Kharral, Mr. Nazir Ahmed Bughio, Ms. Mussarat Ahmad Zeb, Ms. Sajida Begum, Dr. Fouzia Hameed, Mr. Sanjay Perwani, Secretaries Commerce and Textile Divisions and Senior Officers of the concerned departments.

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Reference: http://app.com.pk

NIP to develop SEZ in federal capital

ISLAMABAD, Feb 8 (APP):National Industrial Parks (NIP), a development and a management company, is all set to develop the planned Special Economic Zone (SEZ) in Islamabad, official sources said.
“We require around 50 acre land to develop Special Economic zones (SEZ) in the federal capital for providing equal opportunity and facilities to foreign and local investors,” Senior official of Board of Investment (BOI) told APP here on Thursday.
Replying to a question,he said the government was working on a plan for reconstruction and modernization of BOI for introducing the best international practices to provide conducive environment for investment.
According to plan, BOI wanted to hire experts to deal with different sectors including legal, export, investment, Special Economic Zones (SEZs) and marketing and branding experts to enhance the capacity and modernization of the institution, he said.
The official said said that experts for Special Economic Zones (SEZs) would be hired for initiating the projects to attract investment and provide conducive business environment.
Replying to another question, he said that Investment Facilities Center (IFCs) would also be established in Karachi, Lahore, Islamabad and Peshawar to provide modern facilities to investors.
SEZs investors would get the facility for plant and machinery import without customs duty in all four provinces of the country.
He said that all steps would be taken for the industrial growth in the country.
He suggested that Pakistani investors should go for joint ventures with foreign investors to learn the international best practices of managerial skills and technology.
He said that Special Economic Zones would lead to create employment opportunities and development in the area.
The government has identified 46 economic zones through out the country in different regions. Seven of the economic zones ahve been approved.
He said, “We are committed to facilitate the foreign investors in Special Economic Zones (SEZs).”

The post NIP to develop SEZ in federal capital appeared first on Associated Press Of Pakistan.

Reference: http://app.com.pk

Rs 357.5 bln released for development projects under PSDP 2017-18

ISLAMABAD, Jan 30 (APP):The government has released over Rs 357.5 billion under its Public Sector Development Programme (PSDP) 2017-18 for various ongoing and new schemes against the total allocations of Rs1,001 billion.

The released funds include Rs 104 billion for federal ministries and Rs 32.97 billion for special areas, according to data released by Ministry of Planning, Development and Reform on Tuesday.

Out of these allocations, the government has released Rs 116.39 billion for National Highway Authority for which Rs 326.25 billion have been allocated for the year 2017-18, whereas for WAPDA (Power) an amount of Rs 19.68 billion has been released out of total allocation of Rs 64.55 billion.

Similarly, Rs 5.276 billion have been released for Communication Division (other than National Highway Authority) for which the government has earmarked Rs 21.6 billion under PSDP 2017-18.

Railways Division received Rs 15.247 billion out of its total allocation of Rs 42.9 billion whereas Aviation Division received Rs 964.8 million out of its total allocation of Rs 4.348 billion.

The government also released an amount of Rs 11.628 billion for various development projects of Higher Education Commission out of total allocation of Rs 35.662 billion, while Rs 3.99 billion have been released for Atomic Energy Commission.

Water and Power Division (water sector) received Rs 11.85 billion out of its total allocation of Rs 36.75 billion under PSDP 2017-18. The government also released Rs 8.1 billion for National Health Services, Regulations and Coordination Division, for which an amount of Rs 48.701 billion have been allocated in the federal PSDP 2017-18 while Rs 201 million have been released for Pakistan Nuclear Regulatory Authority out of its total allocations of Rs 321.53 million.

An amount of Rs 10.02 billion have been released for Finance Division out of its total allocations of Rs 25.051 billion while

Rs 326 million have been released for Climate Change Division out of its total allocations of Rs 815 million for the current year.

Similarly an amount of Rs 8.97 billion have been released for Petroleum and Natural Resource

Division out of its allocations of Rs 12.4 billion, Rs 1.832 billion for Planning, Development and Reform

Division out of its allocations of Rs 10.4 billion whereas Rs 1 billion have been released for SUPARCO out of its allocations of Rs 3.5 billion.

Likewise, the government also released Rs 6.26 billion for Housing and Works division while Rs 80 million for Human Rights Division, and Rs 400 million for National Food Security and Research Division.

The government has also released Rs 14.7 billion for AJK (block and other projects) out of its allocations of Rs 25.844. billion, Rs7.7 billion for Gilgit Baltistan (block and other projects) out of its allocations of Rs 18.3 billion whereas Rs 10.5 billion have been released for SAFRON/FATA (Block and other projects) out of its total allocations of Rs 26.90 billion for the FY2018.

The government also released Rs 30 billion for Prime Minister’s Global SDGS Achievement Programme whereas Rs 3.15 billion have been released for ERRA out of its total allocations of Rs 7.5 billion.

An amount of Rs 9.199 billion have been released for Prime Minister’s Youth Hunarmand Programme out of its total allocations of Rs 20 billion, according to the data.

The Planning Commission of Pakistan has been following a proper mechanism for the release of funds and accordingly funds are released as per given mechanism. The commission releases 20% of funds in first quarter (July September), 20% in second quarter (October December), 25% third quarter (January March) and 35% in fourth quarter (April June).

The post Rs 357.5 bln released for development projects under PSDP 2017-18 appeared first on Associated Press Of Pakistan.

Reference: http://app.com.pk