Nepra okays 9.28 cents/unit for sugar industry
ISLAMABAD: Prime Minister Syed Yousuf Raza Gilani on Monday expressed satisfaction on “visible improvement” in power supply situation and reiterated his government”s resolve to mitigate load shedding in the shortest possible time.
He apprised the review meeting that Nepra has recently approved an up front tariff of 9.28 cents per unit for co-generation projects of the sugar industry.
He said that the sugar industry had indicated possible addition of 2000-3000 MW and invited the industry to come forward and upgrade their existing plants and make available maximum possible capacity to the national grid.
Addressing the review meeting on energy here at Prime Minister Secretariat, PM commended support and constant follow up by the chief ministers to implement the aggressive conservation measures taken at the last meeting to make the campaign a success. Gilani particularly thanked CM Punjab for assuming a lead role in the campaign in Punjab.
Gilani directed Ministries of Water Power, Finance, Petroleum Natural Resources and all provincial governments ensure that the measures are enforced.
The prime minister said according to his feedback unscheduled load shedding has almost been eliminated and there has also been some relief to the consumers in the scheduled load shedding.
He reiterated that industry and agriculture remain first priority of his government and the load shedding schedules where necessary were being enforced in consultation with the representatives of the chambers of commerce and industry.
The premier pointed out gaps in implementation in some areas and mentioned that markets and shopping centres in many cities continue to remain open after 8 pm and notified timings for marriage halls were not being enforced completely.
PM Gilani appealed to businessmen, traders and other segments of the society to come forward and extend their support for the conservation measures in the greater interest of the nation.
US, China announce anti-dumping steps
BEIJING: The United States and China have announced new anti-dumping steps against each other over aluminum and nylon, raising the threat of new tensions over trade and currency that had eased in recent weeks.
The U.S. Commerce Department said Wednesday it was launching an investigation into whether Chinese extruded aluminum products were being dumped, or sold at improperly low prices, due to government subsidies or other aid.
On Thursday, China”s Commerce Ministry said it was imposing anti-dumping duties of up to 96.5 percent on imports of polycaprolactam, or nylon 6, from the United States, Europe, Russia and Taiwan.
The latest moves could reignite strains over U.S. complaints about China”s currency controls, which critics say keep the Chinese currency undervalued and give its exporters an unfair price advantage. The two sides have made a series of conciliatory gestures in recent weeks, including a visit by Chinese President Hu Jintao to Washington.
The two governments have launched a series of trade cases over access to each other”s markets for tires, steel, movies, music and other goods.
Products cited in the latest U.S. complaint are used in making window and door frames and sills, gutters, and solar power frames. The Commerce Department said their prices were alleged to be 32.5 to33.3 percent too low. The department said it would issue a preliminary report May 17 and a final determination in May.
Oil stays below 84 dollars in Asian trade
SINGAPORE: Oil prices fell in Asian trade Thursday after a report showing weaker demand in the United States, the world”s largest energy-consuming nation, analysts said.
New York”s main contract, light sweet crude for delivery in June, dropped 26 cents to 83.42 dollars a barrel.
Brent North Sea crude for June was down 16 cents to 85.54 dollars.
The US Department of Energy (DoE) announced Wednesday that American crude reserves increased 1.9 million barrels in the week ending April 16. This was against market expectations for a drop of 200,000 barrels
Gasoline or petrol stockpiles also soared 3.6 million barrels, more than forecasts for a small gain of 300,000 barrels.
Distillates, which include diesel and heating fuel, rose 2.1 million barrels whereas analysts had expected an increase of 900,000 barrels.
“The increase in crude inventories was largely unexpected so demand fundamentals are weighing on people”s minds,” Serene Lim, a Singapore-based oil analyst with the ANZ bank, said.
Demand in the United States is closely monitored by the oil market because it is the world”s biggest economy and its largest energy consumer.
The giant US economy is struggling to recover from its worst downturn since the 1930s.
JAL chief refuses to impose further job cuts: report
TOKYO: The new chief of beleaguered Japan Airlines is refusing to impose further swingeing cuts to jobs and unprofitable routes despite heavy pressure from the carrier”s creditors, a report said Thursday.
The airline”s 78-year-old chief Kazuo Inamori, an entrepreneur and ordained Buddhist monk, is attempting to contain mounting pressure from banks to conduct further aggressive restructuring of the flag carrier.
“Syndicated banks and government tell me we need to do more by drastically reducing more flight routes and jobs,” he said in an interview with the Wall Street Journal published Thursday.
“I am trying to keep the reduction level as planned,” he said.
JAL filed for bankruptcy protection in January and aimed to shed nearly 16,000 employees by March 2013 from the original workforce of 50,000 and cut unprofitable routes, but has recently been under pressure to speed up the plan.
The airline”s main lenders, including Mizuho Corporate Bank, Bank of Tokyo-Mitsubishi UFJ and Sumitomo Mitsui Banking Corp, are forgiving more than eight billion dollars of debt in return for more stringent restructuring, the report said.
The carrier, undergoing a court-led bankruptcy programme, is considering asking for an extension to a June deadline to draft its rehabilitation plan having failed to reach a deal with creditors, according to reports Thursday.
JAL wants two months to refine the plan amid disputes over the size of job cuts and termination of routes, the Yomiuri Shimbun said without citing sources.
The flagship carrier went under with 26 billion dollars of debt in one of Japan”s biggest ever corporate failures, but has continued flying while it goes through painful state-led restructuring.
The government asked charismatic entrepreneur Inamori, founder of high-tech maker Kyocera, to turn around the former state-run company.
While promising to bring the bankrupt carrier to profitability, Inamori has openly lamented at the lack of business sense among JAL managers and employees.
Transport Minister Seiji Maehara told a legislative committee Wednesday that the deadline could be extended.
“Depending on the speed of the progress being made, a change (of the deadline) is possible,” he said.
“Even if the plan experiences a moderate delay, I don”t think it would cause JAL”s loss to expand or cause other bankruptcies,” he said.
India Vs Bangladesh’s Reply in First Test
CHITTAGONG : India’s seamers ripped through Bangladesh’s middle-order to leave the hosts on the back foot in the fog-hit first cricket Test here on Tuesday.
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Bangladesh, replying to India’s modest 243, slumped from their overnight score of 59-3 to 118-6 in the shortened morning session of the third day’s play.
Mushfiqur Rahim was unbeaten on eight and Mohammad Mahmudullah was on 14, with Bangladesh trailing by 125 runs with four wickets in hand.
Play was delayed for the third successive day due to dense fog over this coastal city which permitted 63 of the stipulated 90 overs on the first day and just 24.5 overs on the second day.
Bangladesh added nine runs to their overnight score when seamer Ishant Sharma had former captain Mohammad Ashraful caught in the slips by Rahul Dravid for two.
Bangladesh skipper Shakib Al Hasan cracked four boundaries in his 17, but his aggressive intentions did not last long.
The left-hander attempted to glide Zaheer Khan over point but India’s stand-in captain Virender Sehwag jumped in the air at gully to pick up a sharp chance.
Raqibul Hasan (17) was the third batsman to fall in the morning session, edging a lifting delivery from Shanthakumaran Sreesanth to wicket-keeper Dinesh Karthik.
The second and final Test of the short series will start in Dhaka on January 24.
India Vs Bangladesh’s Reply in First Test was first posted on January 19, 2010 at 6:03 pm.
Aggresive Behavior, Saeed Ajmal Fined
COLOMBO: Pakistan off-spinner Saeed Ajmal was fined 15 percent of his match fee for his aggressive behavior following the dismissal of Sri Lanka captain Kumar Sangakkara in Wednesday’s Twenty20 international.
Ajmal was found guilty of breaching the International Cricket Council’s Code of Conduct which refers to “Pointing or gesturing toward the pavilion in an aggressive manner by a bowler or other members of the fielding side upon the dismissal of a batsman,” the ICC said Thursday.
The incident occurred in the 14th over of the Sri Lanka innings at the R. Premadasa Stadium when Ajmal gave Sangakkara an aggressive send off after dismissing him for 38 runs.
Ajmal returned figures of 3-18 for the match, which Pakistan won by 52 runs.
Ajmal had faced losing up to half his match fee.
Match referee Alan Hurst said he took into account that the bowler immediately apologized to both umpires and to Sangakkara after the match.
“The player had no previous instances of this type of behavior but it was pointed out to him during the hearing that his actions were a clear breach of the ICC Code of Conduct and something seen not only on the replay screen at the ground but also by the many millions of people watching on television around the world,” Hurst said.
“This type of action cannot be tolerated as it does not promote the playing of the game in the expected positive spirit.”
