Tag Archives: Cross

PEPCO’s liabilities to IPPs, GENCOs cross Rs288bn

PEPCO’s liabilities to IPPs, GENCOs cross Rs288bn

ISLAMABAD – Payables of the Pakistan Electric Power Company (PEPCO) to Independent Power Producers (IPPs) and generation companies (GENCOs) have crossed Rs 288 billion. Inexplicably, 63 percent of the dues or Rs 182 billion are payable only to the IPPs.
A statement, issued by Independent Power Producer Advisory Council (IPPAC) on Friday, said that non payments to IPPs had reduced generation and, thereby, triggered power crisis. They stressed that the government should disburse

Power shortfall set to cross 4,000MW

LAHORE – Electricity shortfall is set to cross the 4,000MW mark for the first time during the current season, despite a small decrease in mercury level owing to scattered rains in different parts in the country, including the provincial capital, on Friday.
According to the latest power generation and demand figures released by the Pakistan Electric Power Company (PEPCO), the shortfall has increased by 830 MW during the last 24 hours. The official data shows that electricity

Remittances cross $1b benchmark in March

KARACHI – Overseas Pakistani workers remitted a historic $1,052.88 million in March, 2011 compared to $763.72 million in the same month of the last fiscal year (March 2010), showing a tremendous jump of $289.16 million or almost 38 percent.
Workers’ remittances have escalated to such a level for the first time in Pakistan’s history. Previously, the highest amount remitted in a single month was in August 2010, when $933.06 million was sent home.
Remittances from Saudi Arabia,

1800 dead in western Ivorian town, Red Cross says

GENEVA – At least 800 people were killed in intercommunal violence in the western Ivorian town of Duekoue this week, the International Committee of the Red Cross (ICRC) said on Saturday.
“We have information that at least 800 persons were killed on March 29 (Tuesday) in Duekoue in intercommunal violence,” ICRC spokeswoman Dorothea Krimitsas told Reuters.
ICRC officials visited the Carrefour area of Duekoue on Thursday and Friday to assess needs and gather testimony, a

IHK traders suspend cross LoC trade for two weeks

SRINAGAR – Traders in Indian-held Kashmir (IHK) have suspended cross Line of Control (LoC) trade for the next two weeks due to unnecessary harassment by Indian Commercial Tax Department. Per details, over 30 traders involved in cross LoC trade said in a statement issued after a meeting in Poonch that they had decided to suspend their activities for two weeks to protest against the Commercial Tax Department.
The traders also took out a protest rally later.
They said according

Charing Cross gets 6 security cameras

LAHORE – Following the orders of Lahore Capital City Police Officer (CCPO) Aslam Tareen, the Lahore Police on Saturday installed six high-quality close circuit television (CCTV) sets at the Charing Cross. The surveillance system have been installed with collaboration of the Federation of Pakistan Chamber of Commerce and Industry (FPCCI) at a cost of more than Rs 0.6 million.
Such equipment would also be installed at all leading business markets, for VIP movement and from the

Rice exports cross $1b mark

LAHORE – Rice exports have surpassed $1 billion mark during the first seven months of the current fiscal year 2010-11. Figures released by Rice Exporters Association of Pakistan (REAP) have revealed that between July 2010 to January 2011, rice exporters have exported 2.08 million tonnes of rice worth $1.14 billion, while Pakistan exported rice worth $1.18 billion during the same period of 2009-10.
However, figures indicate that rice exports have witnessed a decline in term of

TDAP vows exports will cross $20b

KARACHI – Trade Development Authority of Pakistan (TDAP) Chief Executive Tariq Iqbal Puri addressing a luncheon meeting at Korangi Association of Trade and Industry (KATI), said that Pakistan will cross the barrier of $20 billion exports this year. He said that TDAP has many export-oriented projects in the pipeline and after receiving funds, they would be implemented soon. He said that TDAP is planning to take part in as many as 80 international exhibitions abroad, out of which 25

Buoyant KSE likely to cross 12,000 points

KARACHI – The prevalent bullish trend at the KSE helped the index cross the 11,900 points barrier as it peaked at 11,927 points on the first day of the week. The index fluctuated around this point throughout the week, moving in both directions.
Christmas holidays muted the foreign inflow of funds to merely $5.64 million during the outgoing week and participation of foreign investors is unlikely in the last week of the year. Local punters and fund managers would lead the market’s

Red Cross says Afghan conditions worst in 30 years

KABUL: Spreading violence in Afghanistan is preventing aid organisations from providing help, with access to those in need at its worst level in three decades, the Red Cross said on Wednesday.
“The proliferation of armed groups threatens the ability of humanitarian organisations to access those in need. Access for the ICRC has over the last 30 years never been as poor,” said Reto Stocker, Afghanistan head of the International Committee of the Red Cross (ICRC), which rarely makes

NATO supply trucks cross Torkham after an 11-day hiatus

Following the US apology over NATO strikes inside the country’s territory and an assurance that such incidents will not be repeated, the government allowed supplies to NATO troops in Afghanistan via Torkham resume on Sunday.
Officials of civil administration and other law enforcement agencies in Torkham confirmed the resumption of supplies to NATO troops.
Shakir Afridi, general secretary of Goods Transporters Association said, “Four oil tankers have crossed