` Russia Expresses Interest in Economic Cooperation with Pakistan ‘

#AceFinanceNews – MOSCOW – June 03 – /ITAR-TASS/. Russia is interested in closer economic cooperation with Pakistan, especially in the energy sector, Sergei Shatirov, a deputy chairman of the economic policy committee of Russia’s Federation Council upper parliament house, said on Tuesday at a meeting with Russian Honorary Consul in Lahore Habib Ahmed.

According to Shatirov, the Russian side is interested in possible participation in the CASA-1000 project, which provides for the construction of three high-voltage electricity transmission lines from Kyrgyzstan and Tajikistan to Afghanistan and Pakistan. “Russia’s joining this project as an equal participant would help solve financing problems. Moreover, it would make it possible to hook up CASA-1000 with Russia’s energy system via Kazakhstan,” he said.

“Russia’s participation in the CASA-1000 project would be a guarantee of uninterrupted electricity supplies to South Asian countries, first, to Pakistan.”

He expressed the hope that Islamabad will support Russia’s initiatives.

Apart from that, Shatirov reassured partners that Russian companies, including Telhnopromexport and Inter RAO were ready to take part in the modernization of Pakistan’s energy sector.

The most promising facilities from this point of view, in his words, were heat power plants in Muzaffargarh and Jamshoro.

Habib Ahmed, in turn, stressed that regular meeting and exchange of views were very useful for the development of cooperation between the two countries. “Our business wants to cooperate with Russia as a country of big opportunities.

And it is important for Pakistan to develop our relations more actively,” he said.



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`Karachi’s Business Community Expresses Grave Concern Deteriorating Law and Order’

#AceFinanceNews – KARACHI – May 31  – The business community has expressed grave concern over the deteriorating law and order situation in the city and alleged that the Law Enforcement Agencies (LEAs) are not doing enough to restore peace.

Businessmen Group leader Siraj Kassam Teli and Karachi Chamber of Commerce and Industry (KCCI) president Abdullah Zaki expressed sheer discontent over various measures adopted by the LEAs to deal with rising lawlessness in Karachi.

The strategies adopted by the Federal and Sindh governments to restore peace in Karachi have failed to yield positive results, they said.

“Businessmen and industrialists provide jobs to millions of people besides contributing 67 per cent revenue from Karachi but sadly they are not taken on board with regards to the law and order situation and are not even invited in the review meetings of the Karachi operation,” the businessmen said.

Published in Dawn, May 30th, 2014

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` World Bank Pledges to Extend its Financial Package to Pakistan with $12 billion over 5 Years ‘

#AceFinanceNews- PAKISTAN – May 02 – With the Election winner still undecided in Pakistan today the The World Bank has decided to extend its financial assistance to Pakistan with a pledge of $12 billion for a five-year period, the country’s finance ministry said on Friday.

The reason given according to Pakistani officials, is that the loan will target “energy, economy, (fighting) extremism and education.

” Within the framework of a 2 percent interest rate loan program the first $1 billion will be transferred to the country, hit by an energy crisis and a shortfall in tax revenues, next week.


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