Category Archives: Economy

Book Review: Al Gore – “The Future – What are the drivers of Global Change.”

You can’t deny Al Gore’s knowledge & intelligence. A thought provoking book, every page of his book offers new insights. A must read book. In his book “The Future: What are the drivers of global Change”, he writes;  “The dominance of wealth & Corporate influence in decision making has so cowed most politicians that they  are scared to even discuss this existential threat in any meaningful way. (Page 323)

“With rare exceptions, the majority of legislators are no longer capable of serving the public interest because they are so dependent on Campaign Contributions from these corporate interests & so vulnerable to their non-stop lobbying.” — “It is profoundly troubling that special interests have been able to Capture Control of decision making & policy formation.” (page 326)

“ … Greece is only the best known of many examples of countries no longer able to make decisions for themselves. It must first get permission from the European Union, which supports it, and international Banks, which holds its debt.”

“U.S self-government is now about completely dysfunctional, incapable of making important decision necessary to realm control of its destiny.”

“The inequality in the distribution of wealth, property and income in the United States is now larger than at any time since 1929. The outbreak of the Occupy Movement has been driven by the dawning  awareness of the majority of Americans that the operations of democratic Capitalism in its current form are producing unfair & intolerable results. But the weakened state of democratic decision making  in the U.S. and the enhanced control over American democracy by the forces of wealth & corporate power, have paralyzed the ability of the county to make rational decisions in favour of politicians that would remedy these problems” (Page 121)

“Corporate “Persons” on the other hand now often seen to have little regard for how they can help the country in which they are based, they are only concerned about how that country can help them make more money.”

“Some political Scientists have asserted that the influence of corporations on modern governance is now almost analogous to the influence of the medieval Church during the era of feudalism” (page 125)

“Ruther Ford B – Hayes, to complain that, “this is a government of the people, by the people, and for the people no longer. It is government of corporations, by corporations & for the corporations.” (Page 106)

“It is now common for lawyers representing Corporate lobbies to sit in the actual drafting sessions where legislation is written and to provide the precise language for new laws intended to remove obstacles to their corporate business plans – usually by weakening provisions of existing laws & regulation intended to project the public interest against documented excesses and abuses. Many U.S. state legislatures often now routinely rubber stamp laws that have been written in their entirely by Corporate Lobbies.

Having served as an elected official in the federal government for the last quarter of the 20th century, and having observed it closely before that period, and since, I have felt a sense of shock and dismay at how quickly the integrity & efficacy of American democracy has nearly collapsed. There have been other periods in American history when wealth & corporate power have dominated the operations of government but there are reasons for concern that this may more than a cyclical phenomenon particularly recent court decisions that institutionalize the dominance & control of wealth & corporate power. “(Page 104-105)

Save Rain Water for the Use

Israel’s ‘Rain Man’ conserves school water

Science teacher Amir Yechieli has a side business showing schools how to capture and reuse the rainwater that collects on their roofs.

By Karin Kloosterman

It was a nightmare: Half of the school’s outlying wall was ripped off in a storm as rainwater runoff caused more than $150,000 in damage.

But science teacher Amir Yechieli, 61 and father of two, saw the disaster as a chance to save the day. Yechieli had studied storm water runoff in the Sinai Desert for a master’s degree. He knows how it flows.

Yechieli figured that the same vast amount of winter rain that ripped the school apart could bring it back together. It could be used to flush the toilets and help better the students’ future ecologically.

“When I saw this, I calculated how much rain there could have been and figured out that the school roof could supply six months of water to the school. I turned to the principal and she said, ‘Good idea,’ and referred me to some funds. I got the funding and the next year I built the first system in the country,” he tells ISRAEL21c.

That was 15 years ago. Now, more than 120 schools later and heading a new company called Yevul Mayim, Yechieli is helping the nation of Israel collect rain.

By day, he teaches science at several schools near Jerusalem. By afternoon, and whenever else he can, Yechieli works with students and teachers to set up rainwater collection systems on the roof. He often does this on his own dime.

Read more » Israel21c.org
http://israel21c.org/environment/israels-rain-man-conserves-school-water/?utm_source=Newsletter+11%2F6%2F2013&utm_campaign=November+6%2C+2013&utm_medium=email

Billion Dollar Pay Check? 10 CEOs in America Break All Records for Executive Pay

“I have never seen anything like that,” says the author of the report on CEO pay.

For the first time ever, the 10 highest-paid chief executives in the US all received more than $100m in compensation and two took home billion-dollar paychecks, according to a leading annual survey of executive pay.

Read more » AlterNet
http://www.alternet.org/billion-dollar-pay-check-10-ceos-america-break-all-records-executive-pay

Commentary: U.S. fiscal failure warrants a de-Americanized world

By Xinhua writer Liu Chang

BEIJING, Oct. 13 (Xinhua) — As U.S. politicians of both political parties are still shuffling back and forth between the White House and the Capitol Hill without striking a viable deal to bring normality to the body politic they brag about, it is perhaps a good time for the befuddled world to start considering building a de-Americanized world.

Emerging from the bloodshed of the Second World War as the world’s most powerful nation, the United States has since then been trying to build a global empire by imposing a postwar world order, fueling recovery in Europe, and encouraging regime-change in nations that it deems hardly Washington-friendly.

With its seemingly unrivaled economic and military might, the United States has declared that it has vital national interests to protect in nearly every corner of the globe, and been habituated to meddling in the business of other countries and regions far away from its shores.

Meanwhile, the U.S. government has gone to all lengths to appear before the world as the one that claims the moral high ground, yet covertly doing things that are as audacious as torturing prisoners of war, slaying civilians in drone attacks, and spying on world leaders.

Under what is known as the Pax-Americana, we fail to see a world where the United States is helping to defuse violence and conflicts, reduce poor and displaced population, and bring about real, lasting peace.

Moreover, instead of honoring its duties as a responsible leading power, a self-serving Washington has abused its superpower status and introduced even more chaos into the world by shifting financial risks overseas, instigating regional tensions amid territorial disputes, and fighting unwarranted wars under the cover of outright lies.

As a result, the world is still crawling its way out of an economic disaster thanks to the voracious Wall Street elites, while bombings and killings have become virtually daily routines in Iraq years after Washington claimed it has liberated its people from tyrannical rule.

Continue reading Commentary: U.S. fiscal failure warrants a de-Americanized world

Injustice with Sindh continue

Ecnec approves nine projects of Rs43 bn

ISLAMABAD: The Executive Committee of the National Economic Council (Ecnec) that met here on Monday with Finance Minister Ishaq Dar, accorded approval to nine projects valued at Rs42.92 billion in the energy, education, health, transport and communications, irrigation and water sectors.

The meeting approved two projects for Punjab amounting to Rs24.84 billion, three projects for Balochistan valuing to Rs 8.70 billion, one project for Sindh of worth Rs2.08 billion and two projects for Khyber Pakhtunkhwa costing Rs4.40 billion and one national scholarship programme of Rs2.90 billion.

Read more » The News
http://www.thenews.com.pk/Todays-News-2-206926-Ecnec-approves-nine-projects-of-Rs43-bn

About 60 percent of Russians see communism as good system – poll

About 60 percent of Russians believe there were more positive than negative aspects to life in the former Soviet Union, an opinion poll suggests.

Of the 1,000 people whom Russia’s Public Opinion Foundation (FOM) interviewed by telephone in a survey last month, 14 percent said the word communism had percent “very pleasant,” “positive” or “wonderful” connotations for them and 12 percent said they were nostalgic about the Soviet era.

Communism was just a thing of the past for 11 percent, but the same proportion believed communism meant good and stable life.

Read more » http://rbth.ru/news/2013/10/12/about_60_percent_of_russians_see_communism_as_good_system_-_poll_30755.html

China’s Official Press Agency Calls For New Reserve Currency, And New World Order

by Tyler Durden

We assume it is a coincidence that on the day in which we demonstrate China’s relentless appetite for gold, driven by what we and many others believe is the country’s desire to have a call option on a gold-backed reserve currency when the time comes, just posted in China’s official press agency, Xinhua, is an op-ed by writer Liu Chang in which he decries the “US fiscal failure which warrants a de-Americanized world” and flatly states that the world should consider a new reserve currency “that is to be created to replace the dominant U.S. dollar, so that the international community could permanently stay away from the spillover of the intensifying domestic political turmoil in the United States.”

Of course, if China were serious, and if the world were to voluntarily engage in such a (r)evolutionary reserve currency transition ….

Read more » Zerohege,com
http://www.zerohedge.com/news/2013-10-13/chinas-official-press-agency-calls-new-reserve-currency

Is America a failed State?

By Mick Krever, CNN

NASA’s unmanned Voyager 2 spacecraft may have put it best when it “tweeted” from beyond the solar system: “Farewell, humans. Sort it out yourselves.”

Most employees at NASA are now among the million U.S. government employees on forced leave because congress has failed to pass a spending bill, forcing a shutdown.

The world is watching in seeming disbelief. So, is America a failed state?

Not quite, but the apparent failure of the American congress to govern certainly raises the question. If we were covering some of the far-flung failing states we often do, we’d know just how to put it.

Continue reading Is America a failed State?

Britain 2013: children of poor families are still left behind

By and Taytula Burke

Special report: More than four decades ago a groundbreaking report, Born to Fail?, highlighted the extent of child poverty in Britain. Since then, despite the pledges of successive governments, things have only got worse. Where now for the next generation?

Read more » The Guardian
http://www.theguardian.com/society/2013/aug/24/child-poverty-britain-40-years-failure

Sailing between Karachi and Bombay

By Ajmal Kamal

I have a happy dream. Sometimes, when I am particularly distressed by the politics that carries on in our sorrowful subcontinent adding to its various peoples’ misery, I allow myself to be lost in this delicious dream. I imagine myself sailing to Cox’s Bazar.

The small, beautiful ship starts every Saturday from the newly commissioned port of Gwadar on the western Makran coast. It passes through Karachi and picks up most of its Pakistani and some foreign passengers from here. But I have made it a point to travel on the coastal highway to the starting point and when the ship touches Karachi, look at the city of my residence without getting down, as someone travelling in a passing vessel would. I have a long and fascinating journey before me: we’ll pass through many ports and stop at some of them:

Dwarka, Porbandar, Diu, Surat, Daman, Bombay, Ratnagiri, Panjim (Goa), Mangalore, Kozhikode (Calicut), Kochi (Cochin), Trivandrum, Cape Comorin (Kanyakumari), Pondicherry, Chennai (Madras), Vishakhapatanam, Puri, Patuakhali, Noakhali, Chittagong and our final destination: Cox’s Bazar. Since such a thing is on no one’s agenda, it is safe to predict that it is not likely to be launched for as far as we can look into the future. Which gives me all the freedom to add delectable details without a care for whether they are sensible and practical.

Read more » DAWN
http://dawn.com/news/1038269/sailing-between-karachi-and-bombay

India gripped by mood of crisis as rupee falls again

By James Crabtree in Mumbai and Victor Mallet in New Delhi

The Indian rupee fell to a new low against the dollar on Wednesday and stocks declined after a central bank promise to inject liquidity into the country’s financial markets provided only temporary relief from a deepening sense of crisis….

Read more » Financial Times
http://www.ft.com/cms/s/0/af335904-0a21-11e3-aeab-00144feabdc0.html#axzz2ceOcBPBJ

Pakistan 2013: The uncertainty is real

By Omar Ali

Excerpt;

The first thing that strikes you on landing in Pakistan after a few years is how much more “modern” it is and how dramatically (and frequently, painfully) it is changing with every passing day. One is reminded that Pakistan is as much a part of “rising Asia” as India, Bangladesh or Thailand and is not all about terrorists, conspiracy theories, Salafist nutjobs or the clash of civilizations. But since more qualified people are writing about the economics of rising Asia, the destruction of the environment, the breakdown of traditional society, the future of the planet, and the meaning of life, I will try not to step too much on their turf. And since there are countless articles (and more than one famous book) detailing the Westernized elite’s view of how the underclass lives and dies in rising Asia, I will not intrude too far on that well-trodden terrain either. Instead, without further ado, here are my personal and entirely anecdotal observations from 3 weeks in Pakistan. ….

…… Last but not the least, our sense of humor is alive and well. With newly elected prime-minister Nawaz Sharif apparently floundering without a coherent national security strategy 2 months after taking office, the following joke was making the rounds: there is a new position in the kama sutra; its called the Nawaz Sharif. You get on top and do nothing.

Read more » 3QarksDaily
http://www.3quarksdaily.com/3quarksdaily/2013/08/pakistan-2013-the-uncertainty-is-real.html#more

The invisible partition of Sindh

By Tahir Mehdi

Are all Pathans stupid? It can’t be. Then why are they normally the butt of every other joke? Is there something sinister behind this stereotyping? Since most of these jokes are community creations, I would rather not look for a ‘well-hatched’ conspiracy theory.

But then why are Pathans portrayed the way they are? I recalled all the Pathans that I have ever interacted with, one by one, from my college days, from my professional life, from my neighborhood, my social circles, Facebook friends. The identification parade told me that some of them did live up to the stereotype, but there is no indication of an abnormally high tendency for joke-worthiness among Pathans.

All communities carry all colors and characteristics, and it is the competing and conflicting interests of various communities that make them exaggerate and twist some of those. I have used this formulation to explain away all the community stereotypes that we frequently encounter. While I still may not mind laughing at a Pathan joke, this explanation helps me guard against letting this fun convert into a discriminatory attitude. But let me admit, that I have struggled with the stereotype of a Sindhi far longer. Are Sindhis docile, smug and the least entrepreneurial people? Most of my friends think so. One joked that if a Sindhi has to go to even the railway station in his hometown, he falls homesick and immediately starts calling himself a pardesi! This proved to be a tough test for my formula to fight off such stereotypes.

I decided to hold an identification parade for all the Sindhis that I had ever interacted with – my college fellows, colleagues, neighbours, friends and all. That’s when I realised all the Sindhis I knew could be counted on the fingers of one hand. Had I not attended a college that had a quota for students from all provinces and areas of Pakistan, I am sure I would have befriended none. I then decided to look into the statistics.

Continue reading The invisible partition of Sindh

Bitcoin Boom? US fears digital currency may hit dollar demand

The US is becoming increasingly concerned over virtual currencies, launching broad investigations into Bitcoin and the likes. The online currency has won official recognition with a US federal judge ruling it is real money. A Texas man, being tried for laundering billions of dollars using the Bitcoin system, challenged the court by saying bitcoins were virtual and couldn’t be the basis for a fraud charge. He failed. RT’s Peter Oliver went to meet those who have no doubt bitcoin has real value.

Courtesy: – RT

Britain’s foreign aid has fallen into hands of al-Qaeda, DfiD admits

Almost half a million pounds of British taxpayer-funded aid and equipment has fallen into the hands of al-Qaeda, the Department for International Development has admitted.

By Andrew Gilligan

The terror group’s Somali franchise, al-Shabaab, “confiscated” the equipment from DfID contractors in multiple incidents over at least three months before any action was taken.

The admission is contained in the small print of the department’s latest accounts, which say that £480,000 worth of “humanitarian materials and supplies” was written off following repeated “confiscations” by al-Shabaab.

The confiscations are one of a series of developments disclosed by the department, which will increase controversy over the British aid budget, the only item of government expenditure that is rising sharply in an era of cuts.

British aid is due to reach about £11billion by 2015, to meet the Government’s promise that aid spending should be 0.7 per cent of gross national income. Critics say the 0.7 per cent figure encourages wasteful spending to meet the target.

Investigations by The Telegraph show a number of areas of questionable spending and results that are open to question, including how:

Read more » the telegraph.co.uk
http://www.telegraph.co.uk/news/worldnews/africaandindianocean/somalia/10235384/Britains-foreign-aid-has-fallen-into-hands-of-al-Qaeda-DfiD-admits.html

80 Percent Of U.S. Adults Face Near-Poverty, Unemployment: Survey

By HOPE YEN

WASHINGTON — Four out of 5 U.S. adults struggle with joblessness, near-poverty or reliance on welfare for at least parts of their lives, a sign of deteriorating economic security and an elusive American dream.

Survey data exclusive to The Associated Press points to an increasingly globalized U.S. economy, the widening gap between rich and poor, and the loss of good-paying manufacturing jobs as reasons for the trend.

Read more » Huffington Post
http://www.huffingtonpost.com/2013/07/28/poverty-unemployment-rates_n_3666594.html

UK most unequal country in the West

Huge gap between rich and poor in Britain is the same as Nigeria and worse than Ethiopia, UN report reveals

By Geoffrey Lean and Graham Ball

Britain is now the most unequal country in the Western world, an authoritative new United Nations report reveals. The gap between rich and poor is as great as in Nigeria.

Detailed statistics in the Human Development Report published last week also demonstrate that inequality has grown sharply during Conservative rule and that the poor in Britain now have to live on much the same incomes as their equivalents in Hungary and Korea.

Read more > The Independent.co.uk
http://www.independent.co.uk/news/uk-most-unequal-country-in-the-west-1329614.html

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Via Facebook

New rail line from China to Germany

Responding to rising trade volumes, Zhengzhou, a business and logistic center in Central China, has started rail service to Hamburg, Germany.

The train takes 18 days to make the 10,214-kilometer trip, but that’s more than twice as fast as maritime transport. It can also effectively save 80 percent of the cost compared with air shipments, and it’s about $489 cheaper on average compared with road transportation, which is a major incentive for the Eurasian Land Bridge, also dubbed New Silk Road.

The route reaches Germany via Kazakhstan, Russia, Belarus and Poland. Zhengzhou International Inland Port Development Co Ltd is responsible for cooperating with  rail companies in each country.

Read more » CHINA DAILY
http://usa.chinadaily.com.cn/epaper/2013-07/19/content_16800881.htm

New gas reserves in Sindh

Pakistan discovers new gas reserves in Sindh

KARACHI: Huge reserves of natural gas have been discovered in Sindh as Pakistan struggles to overcome crippling energy crisis.

According to Geo News report, 39 million cubic feet gas reserves have been discovered during the drilling of wells in Sanghar. The report said 65 percent shares of the project are owned by the PPL. According to initial estimates, 106.8 million cubic feet natural gas would be produced.

70 percent of natural gas reserves in Pakistan are located in Sindh.

Courtesy: The News

http://www.thenews.com.pk/article-105916-Pakistan-discovers-new-gas-reserves-in-Sindh

India – BJP minister targeted Sindhis and threatened to send them back to Pakistan!

Will send you back to Pakistan, says BJP minister to Sindhi traders of Bhopal

By: Bhaskar News

Bhopal: Controversy erupted over Urban administration minister and senior Bharatiya Janata Party (BJP) MLA Babulal Gaur’s casteist remarks on Sindhis on Thursday. The ruling BJP government minister targeted Sindhis and threatened to send them back to Pakistan.

Members of traders association of Sindhi market in Sant Hirdaram Nagar of Bhopal protested against the drive to relocate them from the area to the New Sabzi Mandi, outside the BJP minister’s residence.

The civic body had ordered the traders of Sindhi market to relocate to the New Sabzi Mandi area in the wake of encroachment incidents reported by nearby residents.

The traders of Sant Hirdaram Nagar protested against the civic body’s relocation drive and shouted slogans against the ruling BJP government outside Gaur’s residence. The minister got irked and passed casteist remarks on them.

He reportedly said, “Stop shouting slogans or else you will be sent to where you are originally from (Pakistan).”

Courtesy: Daily Bhaskar
http://daily.bhaskar.com/article/MP-BHO-bhopal-will-send-you-back-to-pakistan-says-bjp-minister-to-sindhis-when-they-pro-4290924-PHO.html

PAKISTAN – Chinese bank to provide funds for hydropower project

LAHORE: The EXIM Bank of China has signed an agreement with the government of Pakistan to provide $448 million for the strategically important 969MW Neelum-Jhelum Hydropower Project.

The agreement, a significant development in the efforts to obtain funds for the remaining work on the project, was signed last week during Chinese Prime Minister Li Keqiang’s visit to Pakistan.

The project is being constructed on River Neelum in Azad Jammu and Kashmir. Besides generating much-needed low-cost hydel electricity to help mitigate power shortages, the project will also enable Pakistan to establish its priority rights on the river waters.

Wapda is striving to complete the project by 2016 according to its construction schedule.

At present, construction work at different sites of the project is moving forward satisfactorily. Of the combined 67-kilometre tunnels, 34.24km long tunnels (51 per cent) have so far been excavated. Work on excavation of under-ground powerhouse has been completed by 75.24 per cent, on transformers hall by 96.33 per cent and on de-sander of the project by 95 per cent.

Construction of Nauseri Bridge over River Neelum and second stage diversion of the river have been completed.

After completion, the project will contribute 5.15 billion units of cheap electricity to the national grid every year. Annual benefits of the project have been estimated at about Rs45 billion.

Courtesy: DAWN
http://dawn.com/2013/05/29/chinese-bank-to-provide-funds-for-hydropower-project/

British people are committing suicide to escape poverty. Is this what the State wants?

By Sonia Poulton

In the last few months of his life, Craig Monk attempted several overdoses and was described as ‘vulnerable’ by his family.

An accident a few years before had resulted in the partial amputation of his leg and he had suffered unnecessary, and anxiety-inducing, obstructions in receiving state assistance – even though his disability was clear for all see. Over time he slipped further into poverty, the ends could no longer meet.

Finally, the fear of there not being a light at the end of his personal tunnel overwhelmed him and Mr. Monk, a 43-year-old from Burnley, was found hanging in his home in October last year.

Read more: http://www.dailymail.co.uk/debate/article-2117718/British-people-committing-suicide-escape-poverty-Is-State-wants.html#ixzz2UOxRN5Yg 

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The Rise of China’s Reformers?

Change You Can Believe In

By Evan A. Feigenbaum and Damien Ma

Most observers are gloomy about the prospects for serious economic reform in China. But they ignore a central lesson of recent Chinese history: reform is possible when the right mix of conditions comes together at the right time. And the very circumstances that facilitated the last major burst of economic reform in the 1990s are largely present today.

Read more » Foreign Affairs
http://www.foreignaffairs.com/articles/139295/evan-a-feigenbaum-and-damien-ma/the-rise-of-chinas-reformers?cid=soc-twitter-in-snapshots-the_rise_of_chinas_reformers-041813

Via – Twitter

Will the Japan trade deal revive globalization?

Japan Trade Deal May Revive Globalization

By the Editors

The U.S. and Japan agreed to terms last week allowing Japan to join talks on the Trans-Pacific Partnership, another step toward creating the world’s most important free-trade initiative. The emerging pact has far- reaching implications for domestic policy in Japan and elsewhere, and could offer a new approach to global as well as regional trade liberalization.

Japan’s participation would widen the TPP to 12 members, accounting for 40 percent of global gross domestic product. The Japanese economy is bigger than all the other non-U.S. members combined. By taking part, Japan is making a commitment to long- overdue domestic economic change. Supply-side reform is one of the “three arrows” Prime Minister Shinzo Abe has promised will revive Japan’s stagnant economy (the others are monetary stimulus and fiscal expansion). In the long term, it’s the one that matters most — and it’s the one that the TPP can provide.

Abe deserves much credit for pressing this part of his program so determinedly. Special interests, especially farming, have supported protectionism in Japan for years. (Rice farmers are shielded by tariffs approaching 800 percent.) The TPP will mobilize Japan’s manufacturing exporters, which will gain directly from the deal, as a countervailing political force.

Farmer Resistance

According to the government’s estimate, annual farm and marine production might decline by 3 trillion yen ($30.3 billion) under the TPP, though other sectors would expand more than twice as much, raising aggregate GDP by 3.2 trillion yen. That’s probably an underestimate, because the benefits would build over time. One independent study puts Japan’s potential gain at more than $100 billion a year (2 percent of GDP) by 2025. ….

Read more » Bloomberg
http://www.bloomberg.com/news/2013-04-14/japan-trade-deal-may-revive-globalization.html?alcmpid=view

Afghan Tax – GDP Ratio 11%, Pakistan 9%

Afghans warned: the taxman is coming after you

By Katharine Houreld

KABUL (Reuters) – One of Afghanistan’s most surprising success stories lies tucked away on a potholed street notorious for suicide bombings and lined with rusting construction equipment.

The work of the country’s top tax collector is more inspiring than the view from his office in Kabul. Taxes and customs raised $1.64 billion last financial year, a 14-fold increase on 10 years ago. That means, now, the government can pay just over half of its recurrent costs such as salaries.

Thanks to tougher enforcement procedures, Afghanistan’s tax to GDP ratio today stands above 11 percent – ahead of neighboring Pakistan’s dismal 9 percent.

Continue reading Afghan Tax – GDP Ratio 11%, Pakistan 9%

Making energy from waste : 25 MW Rachna Power Plant on the cards

LAHORE: National Industrial Parks (NIP) Development and Management Company has decided to establish a 25 megawatt (MW) power generation plant based on municipal and agro waste besides local coal or combination of these fuels for the electricity requirement of the industries at the Rachna Industrial Park on the main Lahore-Sheikhupura Road.

The Rachna Power Plant will be the first-ever power unit to be developed on the basis of waste as a source of energy. The plant’s primary fuel will be Refused Derive Fuel (RDF) prepared from a mixture of municipal solid wastes and agro wastes, while the coal would be used as a backup fuel.

The technology of an integrated recovery of recyclable materials and production of the refused derive fuel will be adopted for this power plant.

The concept of the modern waste to energy plant has been proposed for the Rachna Power Plant, which is very different from the old incinerators due to the technological progress of the last decade.

Chief Executive Officer Mohsin Syed at NIP meeting in which investors of the Rechna Industrial Park were also present said the municipal solid waste of Lahore and surrounding area and the agro wastes, which including rice husk, corn and wood waste of the adjoining areas would be collected and transported to recycle it into a real fuel that could be easily stored, transported and efficiently burned at the plant site within the premises of the Rachna Industrial Park.

He said the power generation complex was proposed to consist of one unit of 6 MW and two units of 11 MW each with total gross capacity of the 28 MW and the net capacity at site would be 25.5 MW to provide operational flexibility and reliability in case of shut down of one or more units.

The power generation facility would be located within the premises of the Rachna Industrial Park located at 7.5 kilometers (km) Lahore-Sheikhupura Road on the Upper Chenab Canal. The site is at the distance of 18 km from the

Lahore-Shekhupura Motorway Interchange, 24 km from the Lahore city centre and 40 km from the Allama Iqbal International Airport Lahore and an area of 10 acres has already been earmarked for the power generation complex at the Rachna Industrial Park, the NIP chief explained.

Continue reading Making energy from waste : 25 MW Rachna Power Plant on the cards

Canada drops out of top 10 most developed countries list

The United Nations human development index now ranks Canada as 11th

By the Canadian Press

Canada has slipped out of the top 10 countries listed in the annual United Nation’s human development index — a far cry from the 1990s when it held the first place for most of the decade.

The 2013 report, which reviews a country’s performance in health, education and income, places Canada in 11th place versus 10th last year.

Continue reading Canada drops out of top 10 most developed countries list

Fallout from ‘Untouchables’ Documentary: Another Wall Street Whistleblower Gets Reamed

By: Michael Winston

A great many people around the county were rightfully shocked and horrified by the recent excellent and hard-hitting PBS documentary, The Untouchables, which looked at the problem of high-ranking Wall Street crooks going unpunished in the wake of the financial crisis. The PBS piece certainly rattled some cages, particularly in Washington, in a way that few media efforts succeed in doing. (Scroll to the end of this post to watch the full documentary.)

Now, two very interesting and upsetting footnotes to that groundbreaking documentary have emerged in the last weeks.

The first involves one of the people interviewed for the story, a former high-ranking executive from Countrywide financial who turned whistleblower named Michael Winston. You can see Michael’s segment of The Untouchables at around the 4:20 mark of the piece. The story Winston told during the documentary is essentially an eyewitness account of the beginning of the financial crisis.

Continue reading Fallout from ‘Untouchables’ Documentary: Another Wall Street Whistleblower Gets Reamed

Pakistan to do what it deems fit, says Khar

By Mariana Baabar

ISLAMABAD: As Islamabad and Tehran set up a joint contracting company to complete the construction of the $7.5 billion IP gas pipeline project within the next 15 months, Pakistan does not appear apologetic and says that any other government would have done what the PPP-led government did.

“Pakistan continues to suffer from huge energy deficiency and this directly affects our industry and GDP growth. Gas is the cheapest commodity to generate electricity. We need to look at all possible sources of energy including the proposed Turkmenistan-Afghanistan-Pakistan-India (Tapi) gas pipeline. The Iran-Pakistan gas pipeline will meet only half the shortfall of energy needs of Pakistan and not our full demand. Pakistan has to do what it deems fit and what is in its national interest. Lack of economic growth has also seen peace stalled in the region,” Foreign Minister Hina Rabbani Khar told ‘The News’.

President Asif Ali Zardari is also credited widely for improving bilateral relations with Iran, investing in the region, and desperately seeking energy from a country facing severe sanctions from the West because of its nuclear policy under the guidelines of the IAEA.

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