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National scene: Six pacts signed over oil and gas exploration
ISLAMABAD recently inked six agreements with international companies for oil and gas exploration in Sindh, the NWFP and Balochistan. The agreements, worth $42 million, were signed at the end of a two-day conference, which was held in London by the ministry of petroleum and natural resources.
Ahmed Waqar, the secretary of the ministry, signed the agreements on behalf of the Pakistani government. Amanullah Khan Jadoon and Naseer Mengal, the Federal Minister and the State Minister for Petroleum and Natural Resources, respectively, were present on the occasion.
The companies which signed the agreements included the Premier Oil Pakistan Offshore BV and BHP Billiton, which would join hands to carry out drilling in the Jhangara Block in Sindh, and the Irish firm Tullow Development Pakistan, which in cooperation with Tullow Pakistan Operation, would carry out exploration work in Kohat and the Bannu West Block. Nativus Resources and RDC International would carry out exploration work in Huramzai and Laogasht areas in Balochistan. RDC International would also carry out exploration work in Chagai.
The initial periods for the agreements would be three years, which is considered the first phase in all such accords. The subsequent two years would be deemed as the second phase.
Indians in Pakistan
Chief Executive Officer of the Tata Consultancy Services (TCS) recently invited Pakistani companies active in the areas of information technology, finance and textiles to benefit from his company’s global business initiatives.
Subramaniam Ramadorai, while talking to journalists at a reception held in Karachi in honour of a visiting Indian delegation, said: “Our visit is not aimed at exploiting the Pakistani market but we are here to establish long-term relationships with (local) software companies.”
In response to a question, he remarked: “Yes, joint ventures are important but production of graduates is essential,” he said citing his meeting with academics from the Lahore University of Management Sciences. Mr Ramadorai, chairman of the National Association of Software and Service Companies, said his company had presence in 33 countries.
He supported the ongoing Pakistan-India peace process. “Amid all this, if options are being provided to exploit commerce-related potential, nothing else matters,” he added.
Multimedia devices
Nokia recently announced the launch of a new range of multimedia devices, called the Nseries. According to a press release, the consumers can now use one device to take quality pictures, read emails, watch television, and browse their favourite websites.
Privatization of PTCL
The initiative launched to privatize the Pakistan Telecommunication Company Limited (PTCL) has generated considerable interest as the government has received several good offers.
This was observed recently at an inter-ministerial committee meeting, which was held in Islamabad the other day with Federal Minister for Privatization and Investment, Dr Abdul Hafeez Shaikh, in the chair. The committee has been constituted by the prime minister.
At the meeting some legislative changes were proposed and several decisions were taken to facilitate investments in the telecom sector. The meeting was attended, among others, by high-ranking officials from the ministry of information technology, ministry of communications, ministry of law, justice and parliamentary affairs, and the privatization commission.
Software project
The ministry of science and technology has approved a development project, called the “Centre for Software Development and Training in Advanced Databases,” to be executed by the National Institute of Electronics (NIE) at a cost of Rs14.2 million.
According to sources, the project would help develop expertise in various Web development technologies, enabling the country to play a key role as an Enterprise Resource Provider in the fields of SAP, TERA DATA and 3D Studio Max. The project would be instrumental in triggering economic activities in the field of software development, and hence, would generate countrywide employment opportunities.
The main objective of the project is to provide training to approximately 1,000 trainees per annum. It is, therefore, in line with the objectives of the government, said the sources.— Sci-tech World Report
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