Pakistan International Bulk Terminal (PIBT) CFO Arslan Iftikhar Khan said that adding the second conveyor belt for coal will increase the terminal’s capacity to 17m tonnes per annum from the existing 12m tonnes. Coal imports via PIBT hit a peak of 10.1m tonnes last year. Separately, three coal-based power plants import up to 12m tonnes a year collectively through their own jetties.
PIBT CORPORATE OBJECTIVES
To develop the bulk terminal as a modern state-of-the-art handling facility.
To contribute towards enhancing the country’s port infrastructure for handling bulk cargoes of coal, cement and clinker up to 16 million tons a year.
To operate the terminal at best international standards of efficiency.
To commit contributing towards planting mangroves in Port Qasim area on 500 hectares (over a 1,000 acres at Port Qasim).
To develop and introduce innovative new methods of dirty bulk cargo logistics in Pakistan for the benefit of the country’s trade and industry.
To adopt the best global standards of Health, Safety & Environment.
PIBT BUSINESS DEVELOPMENT STRATEGY
To reclaim and undertake civil works on 25 hectares of storage area at Port Qasim.
To construct a 2.5 km trestle carrying conveyor belt, which connects the Storage Area to the Jetty.
To construct a two berths operational jetty connected via a trestle bridge to the backup Storage Area.
To import modern mechanized coal, clinker and cement handling equipment at the terminal.
To set up 50,000 tons capacity of cement silos.
To set up an indigenous Power Plant.
To establish common-user terminal handling facilities for providing port infrastructure to the cement firms for exporting loose bulk cement and clinker.
To establish port facilities for enhanced coal imports in the country for potential use by power plants and for the present use of the cement industry.
Currency depreciation in Pakistan has always been “involuntary”. The authorities did not let the currency depreciate when an adjustment was due. The rupee was overvalued for a long time. Historically it has slipped only when the authorities were unable to control the supply of dollars any longer. Public debt has soared as a result; the foreign exchange reserves have been depleted. A strong rupee has also caused the trade and current account deficits to grow.
Under these conditions, the gains form depreciation are hard to come by. The sudden plunges in the value of the rupee cause panic, further compromising the gains. The impact of depreciation on foreign trade and related sectors depends on three broad factors. One, inflation in other countries particularly main trading partners; two, domestic prices; and three, overall macroeconomic conditions and policies, particularly during the depreciation phase.
The first two factors determine the real effective exchange rate (REER) and thereby external competitiveness. A higher external competitiveness leads to higher gains. The size of gains depends on the nature of exports and imports and the capacity to export. The third factor determines the extent to which depreciation will help boost the economic activity (thus enhancing the capacity to export). If any of these factors is missing, the potential gains from depreciation may be compromised.
The decline in trade and current account deficit was mainly supported by contraction in imports. It is because of this that no significant impact of depreciation on employment and poverty was observed. The fault does not lie with depreciation. The adverse impact of the factors highlighted above outpaced the potential gains from the depreciation.
Any assessment of impact of depreciation on exports, imports and employment must consider the overall state of economy and policies. It must account for two counterfactuals. One, what would have been the situation of exports, imports, trade and current account deficits if rupee was held at the 2017 value? Two, what would have been the gains from depreciation if rupee was allowed to adjust before the balance of payment crisis?
The first time Pakistani companies invest in and explore for oil and gas in an Abu Dhabi concession.
It is first time Pakistani companies will invest in and explore for oil and gas in an Abu Dhabi concession. Adnoc also partners with Pakistani energy companies for the first time, reflecting the deep-rooted bilateral ties between the UAE and Pakistan.
Dr Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and Managing Director and Group CEO of Adnoc, and Moin Raza Khan, managing director and CEO of PPL, signed the exploration concession agreement.
Under the deal, Pakistani companies will invest Dh1.12 billion ($304.7 million) during the exploration phase in Abu Dhabi concession that covers an offshore area of 6,223 square kilometers and is located 100 kilometres north east of the city.
The Museum of The Future stands on the city skyline among commercial and residential properties in Dubai, United Arab Emirates, on Tuesday, Oct. 13, 2020. Dubai real estate stocks were once the stars for investors betting on the citys booming economy. But their fall from grace has been spectacular and seems set to continue, given an abundance of unsold homes and scant prospects for a recovery in the oil-rich region. Photographer: Christopher Pike/Bloomberg
New chapter of cooperation
Dr Al Jaber said this historic exploration concession award marks a new chapter of energy cooperation in the 50-year old UAE-Pakistan relationship.
“It represents an important platform upon which we can drive win-win opportunities to support Pakistan’s energy security and further strengthen the strategic and economic ties between our two countries. We are delighted to partner with Pakistan Petroleum Limited and the other members of the consortium on Offshore Block 5.
“The consortium was selected as part of Abu Dhabi’s block bid round where we have once again reinforced our approach to strategic partnerships that contribute the right combination of market access, capital, best-in-class expertise or advanced technology,” the minister said.
“We are very optimistic about the potential to unlock significant value with all our partners in this second competitive block bid round as we continue to accelerate the exploration and development of Abu Dhabi’s untapped resources, in line with the Leadership’s wise directives,” he said.
Golden opportunity
Raza Khan said the PPL-led consortium is delighted to be selected for the concession award of Abu Dhabi’s Offshore Block-5.
“This award is not only a watershed moment for Pakistan and the Emirate of Abu Dhabi towards bilateral energy cooperation and economic links but also offers an opportunity to strengthen strategic cooperation with Adnoc to share technical know-how and expertise.
“We are particularly excited that this consortium comprises the ‘big four’ national exploration and production companies that are fully geared to support Adnoc and the Emirate of Abu Dhabi in reinforcing its leading position in the global energy sector,” Khan said.
Following a successful commercial discovery during the exploration phase, the consortium will have the right to a production concession to develop and produce such commercial discoveries.
Adnoc has the option to hold a 60 per cent stake in the production phase of the concession. The term of the production phase is 35 years from the commencement of the exploration phase and the block offers the potential to create significant in-country value for the UAE over the lifetime of the concession.
New life to Pak energy firms
Samiullah Tariq, head of research at Pakistan Kuwait Investment Company, said this is a strategic partnership deal and will benefit the Pakistani energy sector.
PPL operates 15 producing fields across Pakistan and contributes over 20 per cent of the country’s total natural gas supplies. As of June 2020, PPL’s proven recoverable reserves were 1,793.5 billion cubic feet of natural gas, 13.3 million barrels of oil/ NGL/ condensate and 543.1 thousand tonnes of LPG.
Muzammil Aslam, chief executive of Tangent Capital Advisors, said Pakistan energy companies settling into Abu Dhabi offshore drilling will give life to depressed exploration and production companies.
“This will be at very crucial stage when Pakistan is rapidly becoming energy starving country led by depleting energy resources and higher economic growth,” Aslam told Khaleej Times.
Moreover, he said the opportunity will also create synergies for Pakistan energy companies through deploying their excess cash and growth opportunities. “Importantly, working with Adnoc will help Pakistan exploration companies develop offshore drilling expertise, which has vast potential in Pakistan also,” he said. Courtesy : Khaleej News
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Air Link Communication Limited, founded in 2011, is a leading distributor of mobile phones having a strong presence in Pakistan with service centers across the country. Air Link is an “importer cum distributor” of Huawei, Samsung mobile phones & accessories in Pakistan having around 20-25% market share of total mobile business according to Customs Import Data. The Company is the official partner of Samsung Mobiles and Tablets in the territory of Pakistan & Afghanistan. It was also awarded “Platinum National Distributor” and “Sustainable Channel Growth Partner” by Huawei. The Company has a country wide distribution network consisting 16 regional hubs linked to 1,000+ wholesalers and 4,000+ retailers for ultimate selling of mobile phones and accessories across Pakistan.
OUR VISION
“To be the largest and most reliable distribution network in Pakistan”
OUR MISSION
“To establish strong network in Pakistan by providing state of the art services to customers.”
Air Link Communication Ltd, a cell phone distributor in Pakistan, is all set to raise Rs6.43 billion as the two-day book-building of its Initial Public Offer (IPO) ended.
The company had put its 90 million shares up for sale at a floor price of Rs65. The initial share price was decided at Rs71.5. This is called strike price. The IPO was oversubscribed by 1.64 times – the company received a demand for 147.7 million shares against its 90 million offered. The top bidders will be entertained.
Air Link has been one of the top distributors of mobile phones in the country distributing iPhone, Huawei, Samsung and Xiaomi phones. Air Link has ventured into manufacturing recently – assembling TCL, ITel and Tecno cell phones in the country.
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