Lahore—Wateen Telecom, an Abu Dhabi Group
venture in Pakistan, launched its WiMAX and HFC
services for the consumer markets on Saturday.
The launch will allow Wateen customers to have
voice, telephony and broadband internet.
Wateen Telecom has been working on establishing
a wireless network infrastructure since early
2006, and installed the network in early 2007.
Their WiMAX service is a major breakthrough in
the Pakistani broadband market as it will be a
fast and cost-effective alternative to existing
broadband services.
Islamabad—The Government on Saturday granted
petroleum exploration licence to Hycarbex-American
Energy Inc. over block No. 2667-8 (Zamzama
north) covering an area of 1,229.23 square
kilometers in Dadu and Nawabshah districts of
Sindh province. The Hycarbex Inc. intends to
make an investment of US $ 6.30 million in the
aforesaid block falling in Zone-III to carry out
geo/technical studies, acquisition, processing
and interpretation of 300 L. kms 2D seismic
survey and drilling three exploratory wells
during phase-I of the initial period of three
years.
The Hycarbex Inc. is engaged in petroleum
exploration activities in Pakistan since 1995.
Karachi —The Sindh caretaker Chief Minister
Justice (R) Abdul Qadir Halepota Friday night
urged that business activities should continue
without any obstruction and the coming elections
in no way should hinder the enormous economic
growth Pakistan has achieved during the last few
years. Addressing at a reception hosted by
Senator Amin Dadabhoy at his residence the Chief
Minister said the business community has
contributed a lot towards economic development
of the country which is proud of its services
for Pakistan.
He assured that the coming elections would be
held in fair, free and transparent manner
without any obstruction and the purpose of his
interaction with the business community is to
ensure that there will not be any law and order
problems. The Chief Minister requested all those
present in the reception to make sure that every
voter goes to the polling station and caste
votes and try to make sure that the turnout of
voters is the largest in these elections.
Karachi —The current bullish trend in oil
prices, which resulted in oil prices jump of 48%
from first quarter of 2007, is likely to subside
in the first half of 2008. Informed sources
however told Pakistan Observer that there could
be higher downside risk to oil prices in the
next few months which can roll back timing gains
of the first half of the 2008. Actually, timing
gains/losses are driven by changes in crude oil
prices/ex-refinery prices.
It may be mentioned that except for furnace oil,
ex-refinery prices of all products are based on
Import Parity Prices (IPP). While the Oil & Gas
Regulatory Authority (OGRA) regulates the Oil &
gas industry and notifies Import Parity Prices
by taking into account all expenses involved in
importing petroleum product into Pakistan.
Lahore—The visitors evinced keen interest in the
project launched and planned by TUSDEC and its
subsidiary National Institute of Design and
Analysis(NIDA) to help Pakistan’s industry
become internationally competitive.
Technology Upgradation and Skill Development
Company (TUSDEC) participated in 3rd
International Machine Tools and Automation
Industry Exhibition held in Karachi from
December 12-15.
