Port Qasim coal-fired power plant: Chinese propose use of RMB

Port Qasim coal-fired power plant: Chinese propose use of RMB

WhatsApp Image 2019 10 02 at 1.26.08 PM 1 1024x768 1

ISLAMABAD: Chinese coal power producers have shared their concerns with Prime Minister Shehbaz Sharif and proposed use of RMB by Port Qasim coal-fired power plant to buy coal to release pressure on dollar, well informed sources told Business Recorder.

The overdue amount of Chinese coal-fired power plants is over Rs 350 billion due to which they are unable to buy coal – a commodity whose price has increased manifold.

According to sources, Prime Minster has been informed that as a huge overdue amount is owed by CPPA (G) and with exchange restrictions implemented by SBP, three coal power plants do not have enough funds/ US dollars to purchase coal.

Due to insufficient coal inventory, all these Chinese coal power plants are unable to run at full load. Chinese have claimed that all the coal power plants cannot generate electricity at full load due to less supply of coal but CPPA-G is deducting capacity payments, unreasonably.

Power Purchase Agreement, (CPPA -G) has been requested to at least pay tariff in full and on time to procure the coal purchase funds, debt service repayment and other fixed cost every month.

As per Implementation Agreement (IA), State Bank of Pakistan (SBP) has been requested to meet exchange demand of each power plant on time to ensure that each power plant has enough foreign exchange to import coal. Chinese coal producers have requested Ministry of Energy that as per meeting of 30 May, presided over by the Prime Minister, CPPA-G be instructed to exempt the deduction of capacity payments and return the deducted part if the power plants are unable to purchase coal and generate electricity due to tariff payment problems and foreign exchange.

Prime Minister has also been informed that Port Qasim project is able to use RMB to buy coal to support Pakistan’s pressure due to a shortage of US dollars, requesting SBP to support Port Qasim to exchange RMB.

Chinese coal power plants have also requested Ministry of Energy and NEPRA to allow the additional cost of exchanging RMB to be passed through to CPPA-G.

Zhang Jun, Chairman Energy Investment of All-Pakistan Chinese Enterprises Association (APCEAP), in a letter to top government authorities, also accused the CCPA-G of breaching the provisions of agreements. Chinese power sector investors, saying huge amount of arrears, coupled with the accelerated depreciation of the PKR in recent years, has significantly reduced the nominal return on investment, which has exposed such Chinese enterprises to high audit risks in the future, besides greatly dampening the enthusiasm of other Chinese investors to invest in Pakistan.

More than ten Chinese investors, who have invested in power projects in Pakistan, have established an Association, i.e., Energy Enterprise Association (EEA) on the pattern of Independent Power Producers (IPPs) and have shared their issues, concerns, demands and future proposals.

Recently, Chinese investors, who invested in Gwadar, requested the government to allow them to maintain their bank account in RMB due to frequent depreciation of Pak Rupee.

The EEA, in its letter stated that since 2014, the total investment made by Chinese enterprises in power projects under CPEC has reached $19.961 billion, with a total installed capacity of 10,876 MW of which 5,887 MW has already been put into operation. The annual power generation capacity of these power projects is 35.86 billion kWh, which accounts for one-third of the total power generation (about 130 billion kWh) of Pakistan’s main grid in recent years.

Belt and Road initiative is moving strongly

Lets Join CPEC and BRI Projects
Facebook
Twitter
LinkedIn
WhatsApp

Xi in my eyes

Xi in my eyes

20211015C99FC9840EC00001471912D98D30F760 1127957718 1634261488165 title
1065d1383bb8485a90ed9eb78fd56416 6

Xi in my eyes | To him, there is no self. There is only the people

After nearly half a century, President Xi met with his old schoolmate Sommano Pholsena. Hear what Sommano said about his experience with Xi, and what makes the Communist Party of China successful. Produced by Xinhua Global Service

a8e14cd2c0ec4ef4af388654f007d67f ddd

Xi in my eyes | He represents the Chinese Dream

Xi represents the Chinese Dream, which, according to British scholar Martin Jacques, is about the Chinese people dragging themselves up from poverty, about people living much better lives and about China playing a different role in the world.

20220313a2ccf3d763454e89b483931046f4a637 8cd6938b 177a 4f09 9976 6cf26876bbbf

Xi in my eyes | Always connected to the Chinese people

In the eyes of Stephen Perry, chairman of Britain's 48 Group Club, President Xi Jinping is "very closely connected" to the Chinese people. "Everything that I have seen ... tells me his motivation is the people of China. That is very important at this stage of China's development," he says.

46f2ff9dbeb649d8aab9ae94daabf40f 1

Xi in my eyes | Xi's vision of global governance full of wisdom

As British sociologist Martin Albrow sees it, the success of the Communist Pa

e5543d469cad49a2b016963b3e273dfc yingwenfengmian fuben

This is the heading

Inspired by President Xi Jinping's speech at Nazarbayev University on the joint building of a "Silk Road Economic Belt," Kazakh scholar Gulnar Shaimergenova set up the China Studies Center in Kazakhstan to promote China-Kazakhstan cooperation.

20211015C99FC98416000001F9C01E8032DA6090 1128117961 1638315721381 title

Xi in my eyes | In his heart, people are always above all

"I think the common thread in the Xi Jinping thought is the people-centered (approach)," said Raphael Tuju, secretary-general of Kenya's ruling Jubilee Party. "If you look at, for example, the profile of President Xi Jinping, he has a profile of a selfless leader," he said

20211015C99FC98415B00001B18830ADAB001635 1128109862 1638315830252 title

Xi in my eyes | A wise man, and also a philosopher

President Xi is a wise man, and also a philosopher, said former Egyptian Prime Minister Essam Sharaf. As a member of the Advisory Council of the Belt and Road Forum for International Cooperation, Sharaf said the deeper he delves into the Belt and Road Initiative and monitors its growth, the more he learns about President Xi's vision of the world and the future of humankind.

20211015C99FC98414800001D5E060551C6E1EB2 1128075760 1637215427403 title

Xi in my eyes | A leader with a broad vision, a heart for the people

"I remember quite clearly that Chinese President Xi Jinping is a tall man with a friendly manner. His remarks on various occasions were not long, but really down-to-earth and sincere," said Chea Monyrith, president of Chinese Cambodian Evolution Researcher Association. Monyrith says Chinese leaders have a long-term and broad vision towards international affairs, something he finds admirable.

20211015C99FC9840EC000015FF217D013611E2A 1127957704 1634202438638 title

In the eyes of Pakistani President Arif Alvi, President Xi is a great leader who always has the people on his mind and never fails them. He says China’s successful control of the epidemic and the accomplishment of the poverty alleviation target highlight the commitment of the Chinese leadership.

Join CPECB - Premium Businessman Market Place

Lets Connect & Deal
Facebook
Twitter
LinkedIn
WhatsApp

UAE President Sheikh Khalifa bin Zayed passes away

UAE President Sheikh Khalifa bin Zayed passes away

khalifa bin zayed al nahyan 4

His Highness Sheikh Khalifa bin Zayed Al Nahyan, UAE President and Ruler of Abu Dhabi, passed away on Friday, May 13, the Ministry of Presidential Affairs announced.

“The Ministry of Presidential Affairs condoles the people of the UAE, the Arab and Islamic nation and the world over the demise of His Highness Sheikh Khalifa bin Zayed Al Nahyan, the president of the UAE,” a Wam statement read.

He was elected to succeed his father, the late His Highness Sheikh Zayed bin Sultan Al Nahyan, who served as the UAE’s first president since the union in 1971 until he passed away on November 2, 2004.

Born in 1948, Sheikh Khalifa was the second President of the UAE and the 16th Ruler of the Emirate of Abu Dhabi.

He was the eldest son of Sheikh Zayed.

Since becoming the president of the UAE, Sheikh Khalifa has presided over a major restructuring of both the Federal Government and the government of Abu Dhabi.

Under his reign, the UAE has witnessed an accelerated development that ensured decent living for the people calling the country home.

After being elected as the President, Sheikh Khalifa launched his first strategic plan for the UAE government to achieve balanced and sustainable development, placing the prosperity of UAE citizens and residents at the core.

His key objectives as the president of the UAE was to continue on the path laid down by his father Sheikh Zayed, whose legacy, he said “will continue to be the beacon guiding us into the future, a prosperous future where security and stability will reign.”

Sheikh Khalifa steered the development of the oil and gas sector and the downstream industries that have contributed successfully to the country’s economic diversification.

He undertook extensive tours throughout the UAE to study the needs of the Northern Emirates, during which he gave instructions for building of a number of projects related to housing, education and social services.

In addition, he launched an initiative to evolve the nomination system for members of the Federal National Council, which was seen as a first step towards the establishment of direct elections in the UAE.

Sheikh Khalifa was known for being a good listener, modest, and deeply interested in the affairs of his people.

He was a much-loved figure in the UAE and the region.

He frequently conducted direct outreach through official missions and other occasions.

  •  

Belt and Road initiative is moving strongly

Join Premium Businessman Networking Platform
Facebook
Twitter
LinkedIn
WhatsApp

Xi’s global development vision receives praise

Country’s efforts to raise international cooperation, vaccine equity recognized

At a high-end forum on Sunday, world leaders and senior officials of international organizations hailed President Xi Jinping’s recently proposed Global Development Initiative as well as China’s remarkable contribution to the world’s sustained growth amid the COVID-19 pandemic.

Xi proposed the initiative while addressing the general debate of the 76th Session of the United Nations General Assembly on Tuesday via video link.

He called on the international community to accelerate implementation of the UN’s 2030 Sustainable Development Goals for more robust, greener and balanced global development, and fostering a global community of development with a shared future.

The initiative embraces a people-centered concept, follows practical cooperation and advocates the spirit of open and inclusive partnership, State Councilor and Foreign Minister Wang Yi said in a video speech to the Sustainable Development Forum 2021 in Beijing on Sunday. “This major initiative has set out a blueprint for the development of countries and international development cooperation, and pointed the way forward for global development and international development cooperation,” he said.

Wang announced at the forum that China has provided more than 1.25 billion doses of COVID-19 vaccines for the world in honoring its solemn pledge to make Chinese vaccines a global public good.

As the largest developing country, China has always been helping other developing nations and providing development assistance to more than 160 developing countries, he noted.

To advance international development, Wang called on countries to deepen cooperation in fighting COVID-19 to jointly prevail over the challenge, strengthen macro-policy coordination to promote economic recovery and pursue green and low-carbon development.

He also stressed the need to uphold fairness and justice, create an enabling environment for development, safeguard true multilateralism and deepen the global development partnership.

Armida Salsiah Alisjahbana, executive secretary of the UN Economic and Social Commission for Asia and the Pacific, expressed her “appreciation” for Xi’s statement at the UN General Assembly general debate on Tuesday.

Via video link on Sunday, she quoted Xi’s remark that countries must “work together to steer global development toward a new stage of balanced, coordinated and inclusive growth”.

Hailing China’s commitment to implementing the United Nation’s 2030 Agenda for Sustainable Development, she said the “best practices of China on SDG implementation will be very valuable to be shared with other countries as well”.

“And what we learn from the endless efforts of China is that a key enabling factor is cooperation and partnership among countries,” she added.

Norwegian Prime Minister Erna Solberg praised China’s contribution to global vaccination by providing vaccines through COVAX, an international initiative that distributes vaccines to low- and middle-income countries.

She said in a video address that while some countries have vaccinated their populations and are on the path to recovery, others lack vaccines and have weak health systems, which pose serious problems. “We need to ensure vaccines for all, because no one is safe until everyone is safe,” she said.

Solberg also welcomed China’s climate commitments on peaking carbon dioxide emissions before 2030 and reaching carbon neutrality before 2060. Xi announced on Tuesday that China will not build any new coal-fired power projects abroad.

“It is crucial that China reaches its goal of carbon neutrality by 2060. It’s important for China and for the world as a whole,” Solberg said.

At the forum, UN Under-Secretary-General for Economic and Social Affairs Liu Zhenmin also commended China for its strong commitment to the 2030 Agenda for Sustainable Development.

Technology is transforming the world, he said, but over 4 billion people are disconnected from the digital world. He added the world is faced with “a triple planetary emergency: a climate crisis, a nature crisis and a pollution crisis”.

“These crises can only be overcome through solidarity, innovation and transformative change,” he said, noting that countries “must deliver a greener and a more inclusive people-centered future”.

The Women Who Have Made The Nation Proud

c

Mariam Saba Chaudhary( Mariam baji ) who born in a known location in Gwadar which is in Baluchistan- Pakistan.She is CEO of Mass Human Resources and an active Organizer of the major event of the business community in Pakistan.

 

She is a Management consultant and known Entrepreneur for different Social, Research-oriented, and Handicraft Projects. she is always ready to take hard and soft issues for justice without any fear. She took serious steps on many issues of poverty and Leadership. Her business is to get people to recruit in different organizations similar if she is not doing business She is doing it as social work which she does by backhand as it say help others and doesn’t show-off. She is running a research-oriented Organization and all the year her research on public limited listed companies with different stock exchanges and SECP. she working online trades and manage different handicraft projects especially within Pakistan. Areas like Baluchistan and its Products like Dastager are popular in Sales.She is the only lady who spliced fiber between Karachi to Hub and managed Networks practically in organizations. She has arranged lots of Job Fairs in different Universities and Hotels as Social Activist without Financial Benefits.

d    WhatsApp Image 2020 08 13 at 5.22.09 PMeWhatsApp Image 2020 08 13 at 5.22.08 PM 1

She is  serving Business Community as a Business leader among different cities from The Federation Of Pakistan Chambers Of Commerce & Industry (FPCCI)

She is the daughter of Gwadar, Baluchistan, and makes proud the entire nation through her activities.

She is the Only women entrepreneur who do work on public limited listed Trade in Pakistan and rates them accordingly. Successfully organized three corporate leadership awards per year. Successfully organized  three corporate leadership awards per year  Recruit Hundreds of unemployed in different sector Organized Skill-based workshops and train for trainer programs  Online Dastagar Projects through Olx and Alibaba Websites  First Network Engineer who spliced fiber from Karachi to Hub  Youngest Female Project Manager for Punjab Government in “Provision of ISP and Bandwidth” Provide more than  ERP Projects Consultancy, Chairperson of FPCCI since 4 years in the standing committee of Human Rights and City Government

She is not only working for her self but for the entire nation and creating an opportunity for every individual. She is a very much socially connected person you can every heard in Pakistan as a Women Entrepreneur and very respectful with honor that she earned by her hard work.

Never Tell Her Never

WhatsApp Image 2020 08 13 at 5.22.10 PMThere’s no denying that it will be the most challenging and, at times, the most soul-crushing journey that you will ever take but the rewards can be great. It’s all your for the taking. It will lead you to new horizons, it will open your eyes to things that you were once blinded to, and it will truly enrich your life.

She is also member of Pakistan Most respected Business Community Network China Pakistan Economic Corridor Business CPECB.COM where she is an active member and playing handsome role in CPEC

When we think of Marian Chaudhry, we think of an alluring and fascinating women Entrepreneur. However, her real life was far from that. Growing up she had a traumatic youth that lacked stability. The way she overcame it all, one step at a time, is inspiring. In the end, she was the ultimate survivor. And she attained all that with just her ruthless drive. Marian not only revolutionized women’s Entrepreneurs, she literally liberated them from the shackles of corsets. For entrepreneurs with interest women Entrepreneurs, this biography is a must-read.

WhatsApp Image 2020 08 13 at 5.22.10 PM 1

Chongqing Savvy Industries Company Limited Chairman Joined CPECB

ba201912271356053795974

Chongqing Savvy Industries Company Limited (CSIC) is specialized in businesses related with Medium, Small and Minimum Hydroelectricity Power Projects, Water Conservancy Projects & related equipment supply, Electricity Transmission and Transformation Projects & related equipment supply.

Based on technical team members with abundant professional knowledge, rich practices & experiences in this specific industry, CSIC is focusing on special package solution design & supply of water turbine-generator sets and the auxiliaries according to the special working conditions of certain power station. With plenty of industrial resources, CSIC has strategic alliances with several professional hydropower survey & design institutes, turbine-generator and auxiliary equipments manufacturers, working for customized proposals to customers’ projects worldwide on “C2C” basis, providing package solution, technical design and engineering supervision, E&M equipment supply, installation & commissioning services, etc.

We are also providing package solutions to our new explored business of water conservancy projects and electric transmission & transformation projects by strategic cooperation with our manufacturing bases and engineering institutes. Among these equipment, the main products of pumps include medium and large size axial-flow pump & mixed-flow pump(full adjustable or semi-regulation), open series of centrifugal pump, mixed-flow pump, mobile pumping station and other industrial & municipal pumps. The main products related to transformers include, all types of transformers and related raw materials or accessories like silicon sheets, insulating part, vacuum breakers, electric parts, HV-LV switchgears, cables, etc.

n201908251903529578686

Investment Meeting

Following the principles of integrity & credibility, quality & competitiveness, on-time & on-target service, CSIC is concentrating at building itself as the top-class package solution designer and supplier, taking the profits & benefits of the customers in the first priority, and striving forward the brilliant future together with all global partners of mutual-profitable and long-term cooperation’s.

csic certificates

Pakistan, Qatar agree to enhance bilateral trade volume

In order to enhance bilateral trade, Pakistan and Qatar have agreed in principle on a preferential trade agreement (PTA) and a free trade agreement (FTA), a private media outlet reported on Monday, adding that the agreements would soon be signed after necessary formalities.

Pakistan has also offered to establish a plant in Qatar to manufacture footballs for the FIFA World Cup 2022 as well as subsequent football tournaments.

Nebras Power, a major investment group in Qatar’s energy sector, has expressed an interest in investing directly in Pakistan’s power sector.

The Nebras Power Consortium will take part in the privatisation of the Haveli Bahadur Shah and Balloki power plants in Pakistan.

Start Exporting duties Free 313 products from Pakistani to Chinese market

Under the second phase of the China-Pakistan Free Trade Agreement (CPFTA), China will not charge any kind of duties on 313 new Pakistani products including textiles and meat products. Beijing’s import bill for these 313 products is around $64 .

China and Pakistan have implemented the second phase of a free trade agreement on. Its implementation will have a major impact on the Indian textile sector, meat products, and some others areas.

The two countries have completed all the legal procedures and formalities to start the implementation of the agreement.

With the implementation of the new tariff line, cotton yarn, textiles, and garments, seafood, meat and other animal products, will be duty-free.

On 28 April, the two countries agreed to further “enrich China-Pakistan all-weather strategy cooperation partner relations”, which upgraded the original free trade agreement’s goods trade market admittance and tariff cutting table.

“After the protocol’s coming into effect, the tax item ratio to carry out mutual zero-tariff goods will be increased from 35% to 75%. Besides this, both parties will carry out a 20% partial tax decrease on other goods that occupy 5% of their respective tax items”, China’s Ministry of Commerce stated while providing details about the impact of this second phase.

The new phase of the agreement may affect the Indian economy, as cotton yarn exports to China constitute around 30 percent of India’s cotton yarn exports.

Signed in November 2006, the first phase of the China-Pakistan Free Trade Agreement came into effect in July 2007. In March 2011, China and Pakistan started the second phase negotiations in the free trade agreement.

Billions of dollars of investments will be made in Gwadar

CEO China Overseas Ports Holding Company and Sec Maritime Affairs will hold a press conference today, 8th October, 2019.

Speaking on the occasion, Chairman of China Overseas Port Holding Company honorable Mr. Zhang Baozhong said the project of Gwadar Port was first awarded to a Singaporean company that wasted many years without starting the work. He said the incumbent government of Pakistan took immediate steps to resolve our problems. The government proved that it believes on practical work.

Honorable Mr.Zhang Baozhong said people of Gwadar are very hardworking and peace-loving and a bright future awaits them with the development of Gwadar Port and other infrastructure in the city. He assured that billions of dollars of investments will be made in Gwadar that will provide a large number of jobs to the local people. He said Gwadar will become a new economic hub of Pakistan.

The CEO of China Overseas Port Holding company appreciated the Pakistan government a promising, Pakistan Army and other institutions in providing maximum facilitation to Chinese companies working on various projects in Gwadar.

Minister for Maritime Affairs Ali Haider Zaidi says work at various projects in Gwadar continues at fast pace to develop the port city to an international standard.

Addressing a news conference in Islamabad on Tuesday afternoon, he said Pak-China Friendship Hospital will be constructed at a cost of 100 million dollars to provide state of the art medical facilities to people.

The hospital is planned on 68 acres of land and one out of six medical blocks and almost twenty percent of the residential blocks are completed.

The Minister said a 300-megawatt coal-powered plant is also being set up in Gwadar. A plant to treat hard water for human consumption is also being established. It will process five hundred thousand gallons of water.

Ali Haider Zaidi said work on Gwadar airport is underway and it will be an international airport with world-class facilities for passengers and cargo handling.