Rupee News: Recording History, Narrating Archives, Strategic Vision, Profound Analysis, Unique ideas

Dar dumping hailed. Karachi Stocks surge. Rupee bounces up!

moinansari — Wed, 14 May 2008 04:26:55 +0000

The bourse rallied on the news that the PPP governemnt had decided to get rid of Dar-wanism. The break up of the PMLN-PPP was hailed by the Karachi Stock Exchange. With Darnomics dumped, perhaps a sound economist can take charge and put the country back on track. Did the PPP provoke and then dump PMLN

Actually the Finance Ministry given to the PMLN was a trap to begin with. The PPP insisted that the PML(N) take the ministry. With run away infaltion, and persistant food shortage, and Mr. Dar spending and borrowing money like there was no tomorrow–the country is preparing for lynch mobs who would hang every PML(N) minster to the nearest tree. The Six pack of PPP blunders

Will Darnomic or Deficit Voodoo economics work in pakistan?. We wrote this article several weeks ago. The obvious answer is no!

Dar-wanism over? Good riddance to bad rubbish. $11 Billion deficit in just a few weeks!

During previous administrations and in the recent past the Finance Minsiter would go to a foreign capital and negotiate a Free Trade Agreement (FTA), request debt forgiveness and ask for a university. This has resulted in FTAs with China, Sri Lanka, Malysia and other countries. It has materialized more than ten foreign world class universities in Pakistan. Several Bilion Dollars of debt has been forgiven. This impacts future generations.

Why isn’t the PMLN paying attention to the real problems of the people? is ther a psychopathic obsession of revenge based on some deep rooted ethnic hatred, or is simply in inability to ocmprehend the profound issues facing the land? Neglected issues of Pakistan. Eliminating food, fuel subsidies. Keeping the IMF out. Stopping the US drones, Afghan mercenaries. Shutting down the Indian consulates in Afghanistan. What is the Judge Ifti nawaz connection?

So many words on the Pakistani blogs, “full of sound and fury-signifying nothing.” So little sense.

Mr. Dar shocked Pakistan on his return from China when he boasted that he had obtianed a loan of $500 million. In addition he got a loan from Japan and everyone else he could ask. This has again increased Paksitan’s debt and will invariably get the intrusive IMF back into Pakistan.

Sharif wants a Bangladesh style Jude coup in Pakistan

The real reason Mr. Sharif quit was not becuase of Mr. Iftikhar Chaudhry, but because of Mr. Dar. Mr. Dar cannot keep his hands out of the tilly. He has been Finance Minsiter for a few weeks, and has done more damage than any other Finance Minister can hope to do. Actually no Foreign Miniser on the planet can beat the record of his earler two stints in which he and his PPP counterpart increased the the debt of Pakistan from $12 Billion (durng Zia era) to $38 Billion during the Musharraf/Aziz era. The much maligend imported Prime Minister reduced the budget deficit despite the horrendous earthquake and a war on the Western border.

During his last tenure, Mr. Dar left Pakistan on the brink of bankruptcy with huge IMF interference in Pakistani affairs. Now Mr. Dar in just a few weeks has taken the Paksitani rupee from Rs. 60 to Rs 75, and

The Rupee and pirces had been stable for the best part of the decade. The people are asking, why has everything gone to pot in a few weeks.

Well! One doen’t realize how bad “biryani” ( rice pilaf) can be unless one has had horrible biryani. The people have suddenty realized how good they had it.

How much longer can Mr. Sharif milk the Judiciary cow. Sooner or later, the people will say, ‘we have had enough of this nonsense”. The food shortages during the tail end of Musharraf/Aziz era was short lived and a result of some miscalcualtion, a lot of smuggling, CIA psy-ops and an international shortage of wheat. This current food crisis is a result of gross incompetence and horrid neglence of real issues. One trick ponies playng the ethnic card may end up like Badshah Khan-ostracized and irrelevant***.

Geo has been openly supporting the Nawaz Shairf position, with Hamid Mir leading the charge. The news cycle focuses on the judges as if there is no other issue facing Pakistan. ARY news camera follow Nawaz Sharif and Zardari playing “carmen Sandiego” across world capitals. GEO constatnly tries to brianwash the naive and illiterate and emotional viewers that restoring Mr. Sharif’s friend as the chief judge issue will solve all problems in Paksitan. Any person with an IQ higher than a six pack can understand that the resoration of a person who has already agred to Martial once and signed thePCO in order to supercede Justice Wajihuddin cannot solve the country’s problems other than try to eliminate his arch-nemesis, Mr. Musharraf.

But the tube light flickers but does not turn on. It will take a while.
So if Rupee news can look inot the crystal ball and see which seed will gorw and which will not, we need to carefully watch the antics of Mr. Hussain Haqqani. The Manchurian candidate is a mole and represents the worst of America. His blatent interference in the negotiations and his attempt to forge a faustian deal between the protagonists was an act of pupettering worth watching. The vantriliquist “the low level US official” showd up on London, but the puppet was the one that was trying to keep Mr. Sharif in toe. It didn’t work.

Resistance is futile–you will be assimilated!

Why is Mr. Haqqani participating in al the discussions? Whose interests is he representing? Isn’s Mr. Haqqani the Pakistani Ambassador to the US? Shouldn’t be be preparing for his new assignment? Doesn’t he have enough to do? Perhaps he brings the all important Neocon point of view on the judges!
Pakistan’s Neocon Ambassador to the USA has been part of the Ultra Right Wing establishment of the US Think Tank industry. From The Carnegie Institure, The Hudson Institute, AIPAC (American Israeli Polical Action Committee) to JINSA (Jewish Institute of National Security Afairs), Mr Haqqani even worked with Steven Shwartz the known Islamphobe.

Karachi - Pakistan’s financial markets roiled by a month of political uncertainty and rumours of fresh taxes being imposed surprisingly on Tuesday welcomed the breakup of political coalition, analysts said.However, the overall reaction across the trading community was mixed.

‘It was certainly welcomed by the market hugely because the politics is now going to be one-sided instead of in doldrums,’ said Khurram Shezad, head of research, at Invest Cap Securities.

The Karachi Stock Exchange’s key KSE-100 Index was leaped up by 255 points to close at 14,542.50 against Monday’s 14,286.61 points, a hefty increase of around 1.9 per cent.

Similarly, in the inter-bank market the Pakistani rupee recovered to close at 68.20/68.40 against the US dollar as compared with 68.25/68.75 on Monday.

In an unofficial open market the rupee also surprisingly strengthened against the US dollar to close at 68.00/68.20 against 68.50/68.70 on Monday.

‘Both inter-bank and open market traded in almost the same levels today,’ said a dealer at Dollar-East Exchange.

Nawaz Sharif, the former premier and head of Pakistan Muslim league-Nawaz, the second largest coalition partner on Monday announced the withdrawal of its ministers from the six-week-old set- up as it failed to honour the pledge to reinstate some 60 judges axed by President Pervez Musharraf.

The key finance minstry was amongst the 15 ministries that nine ministers of PML-N were holding.

On Tuesday all cabinet members from the party tendered their resignation to Prime Minister Yousaf Raza Gilani, who refused to accept them, saying he would decide on the issue after consultations with his Pakistan Peoples Party’s head, Asif Ali Zardari, widower of slain Benazir Bhutto.

However, the financial markets are buzzing with rumours that change in the ministry of finance is on the cards. Pro-market faces such as seasoned investment banker and former country head of Citibank (Pakistan), Shaukat Tarin, or Naveed Qamr, who currently holds a portfolio at the Privatization Commission, were being discussed as outgoing minister Ishaq Dar’s successors.

‘Both are very good names and will be welcomed by the market,’ said Shehzad.

Dar was quite critical of the policies of previous government led by Shaukat Aziz as well as the slow pace of tax collection.

He was planning to impose anywhere between 10 to 15 per cent of Capital Gains Tax (CGT), something which Pakistan’s financial markets have been severely opposing for the last five years.

‘The breakup in the coalition was certainly a welcomed move and improved sentiments in the financial markets as both Tarin and Naveed are very pro-market,’ said Nabeel Iqbal, head of marketing at Khannani and Kalia, the country’s largest foreign exchange firm.

Shehzad said the change in the Finance Ministry would certainly help the market pundits to convince the federal government for not imposing the CGT in the upcoming budget for fiscal 2008-2009.

Pakistan is expecting a shortfall of around 20 per cent in tax collections amid rising trade deficit of around 16 billion dollars in 10 months (July-March) compared with 13 billion in an entire 12 months last year (July-June) due to a sharp spike in international oil prices. Pakistan imports 85 per cent of its energy needs.

The Pakistani rupee during the last month lost over 6 per cent against the dollar while the KSE-100 Index lost over 700 points due to directionless politics in the federal capital amid weak economic fundamentals.

Meanwhile, across the country the sentiments of the overall trading community were mixed and predicted an economic meltdown if the contentious issue of judges’ reinstatement was not resolved soon.

‘Smooth running at this critical juncture is a must,’ said Tanveer Ahmed Sheikh, President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI).

Tariq Sayeed, President of Chamber of Commerce and Industry for South Asian Association for Regional Cooperation, a consultative body among six South Asian nations said: ‘The business community wants the coalition to remain intact.’

Dar-wanism: The real reason Sharif quit! Judge Smoke Screen

moinansari — Tue, 13 May 2008 00:20:42 +0000

Will Darnomic or Deficit Voodoo economics work in pakistan?. We wrote this article several weeks ago. The obvious answer is no!

Dar-wanism over? Good riddance to bad rubbish. $11 Billion deficit in just a few weeks!

So many words on the Pakistani blogs, “full of sound and fury-signifying nothing.” So little sense.

Sharif wants a Bangladesh style Jude coup in Pakistan

Actually the Foreign Ministry given to the PMLN was a trap to begin with. The PPP insisted that the PML(N) take the ministry. With run away infaltion, and persistant food shortage, and Mr. Dar spending and borrowing money like there was no tomorrow–the country is preparing for lynch mobs who would hang every PML(N) minster to the nearest tree. The Six pack of PPP blunders

The Rupee and pirces had been stable for the best part of the decade. The people are asking, why has everything gone to pot in a few weeks.

Well! One doen’t realize how bad “biryani” ( rice pilaf) can be unless one has had horrible biryani. The people have suddenty realized how good they had it.

But the tube light flickers but does not turn on. It will take a while.
Did the PPP provoke and then dump PMLN

So if Rupee news can look inot the crystal ball and see which seed will gorw and which will not, we need to carefully watch the antics of Mr. Hussain Haqqani. The Manchurian candidate is a mole and represents the worst of America. His blatent interference in the negotiations and his attempt to forge a faustian deal between the protagonists was an act of pupettering worth watching. The vantriliquist “the low level US official” showd up on London, but the puppet was the one that was trying to keep Mr. Sharif in toe. It didn’t work.

Resistance is futile–you will be assimilated!

Mr. Haqqani was present in the negotiations between Mr. Sharif and Mr. Zardari in London. Congressman Shiela Jackson’s comments on “watching” Mr. Nawaz Sharif is directly part of the campaign of the PPP to discredit the PMLN and its ethnic politics. Mr. Nawaz Sharif and is party has been painted as a “hothead” with links to the Anti-American forces in the region. The PMLN has been billed a “fundamentlaist party”. There is nothing new in these portrayals. Mr. Haqqani has been painting a bleak picture of Pakistan for the past decade. What is new is the fact that now Mr. Haqqani speaks for the government of Pakistan.

The minus one formula did not refer to the judges. The journalists have it wrong. The minus one formula referred to the ministries. It would not surprise the Rupee News crystal ball if we see Mr. Sharif joining the government minus one.

Pakistan vision 2020

moinansari — Mon, 12 May 2008 23:41:28 +0000

The Pakistani stock market was the number one stock market in the world according to the World Bank. Its phenomenal growth this year is not an anomaly but rather capstones ten years of unprecedented growth. The US ambassador made some positive comments about the stock market of Pakistan. Arab investment is pouring in and the Chinese investment is ready to break the dam. Local entrepreneurship is the main engine behind the growth of the stock market.

AGRICULTURE: Food for UAE from Pakistan: Investros set up agri bank to help farmers. Agriculture remains a bed of great opportunity. UEA buys $5 Billion worth of farms in Pakistan to ensure food supplies from Pakistan and avoid food shoartage in the Gulf States. Horticulture and agriculture profits are ripe for the picking (http://rupeenews.com/2008/05/09/got-milk-pakistan-gulfs-food-granery/). The Gulf states recognize the potential of Pakistan. They have identified a policy and are implementing a food security plan for the Greater Middle East. Pakstani labor, land and resources are a major part of the policy.` The Gulf region imports $200 bilion of food. Pakistan is poised to grab a major share of that market.

COAL Coal mining and generation of electricity is a huge opportunity for investors because Pakistan has the worlds 4th largest coal reserves (http://www.dawn.com/2004/09/20/ebr10.htm).

Pakistan’s Thar Desert contains the largest coal reserves discovered to date, covering an area of 10,000 square kilometers. The Thar Coal Field, should it be developed, will yield over 200 billion ton of coal used to produce electricity, it will yield sufficient power to make Pakistan self-sufficient in Electrical power.http://www.pakistaneconomist.com/issue2001/issue34/i&e1.htm

BULLET TRAINS: There is also great opportunity is setting up bullet trains and railway projects. Investors can also take advantage of the booming Call Centers in Pakistan as well as off-shore factories in software. The Software industry in Pakistan is set to reach about 11 Billion Dollars in the next few years. Labor rates are low, and with China setting up 6 new industrial zones, manufacturing will take off. In the entertainment industry, there is a lot of local talent for movies as well as music which has been very successful.There are some exceptions to the gloom, particularly in “frontier” markets like Egypt and Pakistan that aren’t on the radar screen of the average investor. Shares in Egypt and Pakistan have risen 7.7% and 7.4%, respectively. Heidi Moore of the Wall Street Journal put a very unattractive picture in her article which is really disgusting. This shows the basic prejudice of the author.

Opportunities for growth for Pakistan

STRUCTURAL REFORMS IN AGRICULTURE: (http://rupeenews.com/2008/05/09/got-milk-pakistan-gulfs-food-granery/) Pakistan needs structural reforms in agriculture to raise the per hectre yields. High quality seeds, fertilizer, tractors and combine harvesters could totally revolutionize agriculture and become a export powerhouse. A lot of agricultural products are lost in the supply chain from the field to the supermarket creating food shortages and increase in prices. According to some estimates more than 50% of Pakistani agricultural goods are lost in the archaic Indus Valley era supply chain. Refrigerated cargo trucks could ship vegetables and fruits to refrigerated ships to their destinations in Europe and American. Pakistan could ship roses, and flowers kept at almost zero degree temperature and get Billions of Dollars during Valentines Day.

Just the GCC buys more than $200 billion of agricultural products from Denmark and Europe. Pakistan is the 4th largest producer of milk. It should be inundating the gulf with Pakistani milk and dairy products and halal meat form Pakistani farms.

If you were a smart investor, you would invest in a country with a track record of performance. Last year the stock market set many records and kept on going up. While many stock markets showed turbulence and weaknesses, the investors in Pakistan’s Stock Market kept on raking in the profits. After being stung by the Dubai Ports fiasco, many Middle Eastern and Asian investors have been heavily investing in the Pakistani infrastructure as well as the telecommunication industry. As others jump on the bandwagon, there are a lot of possibilities which need to be tapped into.

If one could travel from Karachi to Pindi in 5 hours, what would this do to the economy of Pakistan? Agricultural goods could be exported instantly, and the congestion on the roads would be reduced dramatically. People could travel with ease. Cost? About $2 Billion. the ROI on this would be very short. Mr. Sharif is the only politicians who has talked about this for decades, and done nothing to make it happen. Pakistan’s Rail system has to be linked up to the world. Its pathetic situation cannot be improved by simply renaming old trains and taking credit for the new ones. Pakistan has had the technology to build railway tracks. It has had this technology for 40 years. There is no excuse not to have all major cities linked dup by double tracks and built on international bot old British guages..

Pakistan had the technology to build roads for 4 decades. The roads should be built to all nooks and corners. Though much has been said about freeways, a lot of them are on paper only and the network should be ring roads around the entire country.

Baluchistan is Pakistan’s largest province, and only a fraction of the province is used. All government land in the province should be opened up to settlers of Pakistani origin who have Pakistani citizenship. Top priority should be given to the Baluch. LIke the wild wild west of America, the land should be given to all those who can stake it out and promise to live on the land in the harshest conditions. Those who cannot make it must forfeit the land back to the government. Millions will pour into the province from Punjab Sindh and elsewhere and build the province. Canals will be dug, underground water found and desalination plants running on solar and wind energy will be making life in the 22nd century easier for the new settlers.

END OF ARTICLE

APPENDIX 1: US AMBASSADOR’S SPEECH

Pakistan stock market has huge potential: US ambassador Staff Report

KARACHI: US Ambassador to Pakistan, Anne W Patterson, Thursday visited Karachi Stock Exchange (KSE) and held a meeting with its management and board of directors.

US Consul General Kay L Anske and Press Attache Elizabeth O Colton were also present on the occasion.

Speaking on this occasion, she said that Pakistan stock market has a ‘huge’ upside potential and she was keen to be at the premier stock exchange of Pakistan.

“I was preparing for the job and I picked up the Wall Street Journal one day and there was a front page article on ‘terrorism in Pakistan’ and on the business page there was a story on KSE being the most successful stock exchange in the world. So I wanted to visit this stock exchange (KSE) which is the symbol of Pakistan’s growth and of hopefulness in the economy”, she said.

“I had also heard a lot about the distinguished and impressive management the stock market had here,” she said. Earlier, Managing Director KSE, Adnan Afridi, gave a presentation on country’s economy, stock market and performance of Pakistan’s premier bourse.

He said Pakistan has experienced a sustainable growth and can continue on the path provided there is continuity and longevity of economy policies. “It is one of the most open investment regimes in the world with 100 percent repatriation of profits that has helped in attracting investment,” he said.

Adnan pointed out that financial services and telecom sector were deregulated with the help of strong, professional regulators adopting global practices and benefiting from favourable demographics.

He said KSE was the top performer in the emerging stock markets of the world with a growth of 8.73 percent during 2008. Taiwan is the second with 5.69 percent followed by Bangkok and Singapore.

He said the growth rate of KSE is over 35 percent per annum for the last ten years as its market capitalisation has grown to $75 billion.

He said KSE was heading for de-mutualization which will make it a member of developed stock markets of the world.

Responding to a question about the prospects of long-term investment in the backdrop of security concerns, Adnan pointed out that despite ups and downs and political uncertainty in the country, foreign investment has continued to flow in.

Other members of the board of directors told US Ambassador that there were big upside expectations, once the security situation is improved. What they (fund managers) are worried is the falling rupee and lack of economic road map.

US Ambassador was told that KSE has the average multiple of 10 to 11 whereas neighboring markets including India has 17 while Bangladesh 23.

APPENDIX 2: INFORMATON ON PAKISTANI COAL RESERVES

Pakistan’s Thar Desert contains the largest coal reserves discovered to date, covering an area of 10,000 square kilometers. The Thar Coal Field, should it be developed, will yield over 200 billion ton of coal used to produce electricity, it will yield sufficient power to make Pakistan self-sufficient in Electrical power.

Pakistan’s biggest coalfield lies in Thar (Sindh) where the coal reserves are estimated to be over 175,506 million tons. Seven other coal fields in Sindh have 8,617 million tons of coal reserves. These include Lakhra, Sonda-Thatta, Jherruck, Oagar, Indus East, Meting Jhimper and Badin with reserves of 1,328 million tons, 3,700 million tons, 1,323 million tones, 312 million tons, 1,777 million tons, 161 million tons and 16 Million tons respectively.

Other major fields in the country contain reserves of over 533 million tons. These include Khost-Sharig-Harnai, Sor-Range-Degari, Mach-Abagum, Duki and Pir Ismail Ziarat in Balochistan with reserves of 76 million tons, 34 million tons, 23 million tons and 12 million tons respectively; Salt Range and Makerwal-Gullakhel in Punjab with reserves of 234 million tons and 22 million tons respectively; and Hangu in NWFP with a reserve of 81 million tons. In addition to these major fields, there exist minor coal deposits at Badiuzai, Bahol, Bala Chaka, Bhalgor, Johan, Kachh, and Margot in Balochistan; Cherat in NWFP; Choi in Punjab; Khilla (near Muzaffarabad) and Kotli in Azad Kashmir.http://jang.com.pk/thenews/jan2008-weekly/busrev-07-01-2008/p2.htm
The total Sindhi coal reserves are estimated at 185.5 billion tonnes in the country as Sindh province has the bigger share of 184,623 million tonnes that mostly exists in Thar. However, coal reserves also located at Lakhra, Sonda, Meeting Jhimpir, Indus east and Badin. In Balochistan coal reserves are estimated at 217 million tonnes in Sor-rangi, Much, Dhuki. Coal reserves in Punjab stand at 233 million tonnes at places of Salt Range and Makarwal. Coal reserves in NWFP are 91 million tonnes and AJK accounts for 9 million tonnes. Small power plants up to 25 MW can be set up at coal reserves in Balochistan and in Punjab power plants up to 80 MW can be set up to generate electricity by coal-fired power plants.

A recent speech by the US ambassador listed coal as a major area of cooperation

Just do your own google search. http://www.google.com.pk/search?source=ig&hl=en&rlz=1G1GGLQ_ENPK275&q=coal+reserves+in+Pakistan&meta=

http://www.pakistaneconomist.com/database2/cover/c2001-41.asp

Pakistan’s coal resources
By Engr. Abdul Waheed Bhutto

Coal plays an important role as a primary and an inexpensive source for power generation. In 2003, the USA produced 1,069 million short tons of coal and consumed during the same period 1,090 million short tons.

The electric power sector accounted for over 90 per cent of the US coal consumption. In 2003, the USA generated 3,691 billion kwh of electricity from electric power sector, out of which coal-fired plants accounted for 53 per cent of generation, nuclear 21, natural gas 15, hydroelectricity seven and oil three per cent.

In many other developed countries coal is being used as the primary source for power generation. In Pakistan, coal currently makes up merely one per cent of the electric power generation.

Coal is primarily classified into four major categories, or ‘ranks’: lignite, sub-bituminous, bituminous and anthracite. One of the most valuable content of coal is its carbon content which supplies most of its heating value.

However, various other factors as moisture content, ash content and sulphur are also important in determining the rank of a particular coal. Anthracite, is top ranked coal, with highest carbon content that ranges between 86-98 per cent and has a heat value of nearly 15,000 BTUs (British thermal units) per pound.

Bituminous and sub-bituminous ‘ranks’ of coal are inferior to anthracite. The bituminous variety is used primarily to generate electricity and to make coke for the steel industry.

The discovery of coal in Balochistan during the late 18th century led to its commercial utilization mainly by the North-Western Railways during the colonial regime. At present, our total coal reserves are estimated around 184.5 billion tonnes. which include the lately discovered deposits of low sulphur coal at Thar.

The local coal falls in the lignite and sub-bituminous categories. Coal from Lakhra and Sonda fields of Sindh has relatively higher moisture, sulphur and ash contents.

As opposed to this, Thar coal having an estimated reserves of 184.6 billion tonnes is much superior in quality due to low sulphur content and higher heating value. Well-developed coal-fields are located in Punjab, Balochistan and Sindh.

SINDH: The Sindh province has total coal resources of 184 billion tonnes. The quality of coal is mostly lignite-B to sub-bituminous A-C. Brief description of two major deposits is given as under:

THAR: A large coal-field, having a resource potential of about 175 billion tonnes, has been discovered at Thar in the eastern part of the province, about 400 km South East of Karachi.

The coal-field extends over 9,000 sq km area out of which 356 sq km area has been studied in detail by the Geological Survey of Pakistan proving nine billion tonnes coal in four blocks.

The main coal bed thickness ranges from 12 to 21 meters at an average depth of 170 meters, upper 50 meters being loose sand. The quality of coal has been determined on the basis of chemical analyses of more than 2,000 samples. The rank of the coal ranges from lignite-B to sub-bituminous-A.

LAKHRA: The Lakhra coal-field in Dadu District, lies 16 km to the west of Khanot railway station on the Kotri-Dadu section of the Pakistan Railways. It covers approximately an area of about 200 sq km. It is well connected with Karachi and Hyderabad through roads and railways. Mining in the area is done underground.

Three coal seams are established in the field but generally only the middle seam is known, as Lailian bed possesses the necessary persistence and thickness for consideration in large-scale mining. It shows a variation in thickness from 0.75 meter to 2.5 meters.

Average thickness is 1.5 meter. Coal from Lakhra has an apparent rank of lignite A to sub-bituminous C. The coal is dull black and contains amber resin flakes and about 30 per cent moisture. Although it can be extracted in large lumps, it dries to a moisture content of about 8 per cent when brought to surface.

It tends to crumble on longer exposure to atmosphere and is often susceptible to spontaneous combustion. Based essentially on the results of the initial exploratory work done by the GSP, more detailed exploration has been subsequently undertaken by PMDC, JICA, Wapda and the USAID.

The total reserves of the deposit have been estimated to be 1328 million tonnes with 244 million tonnes measured, 629 indicated and 455 tonnes inferred. Average annual production of coal from Lakhra is over one million tonnes. Most of this production is used in the WAPDA power plant at Khanote, Sindh and in brick kiln industry.

SONDA-JHERRUCK: Over one billion tonnes reserves of lignite quality coal have been assessed in Sonda- Jherruck coal-field. Owing to favourable location and developed infrastructure, two Chinese companies have expressed interest to conduct feasibility study for commissioning of 500 mw power generation units.

In case the feasibility study justifies commissioning of project, an investment of $500 million would be made by the Chinese consortium for establishment of coal fired power project of 500 mw. A quantity of two million tonnes coal annually would be mined to cater for the requirements of power generation units.

Balochistan: The coal seams in Balochistan are found in Ghazig formation of Eocene age. The quality of the coal is sub-bituminous A to high volatile B bituminous. The coal-fields mostly lie around Quetta in Balochistan however the following are significant:

SOR-RANGE; DEGARI; SINJIDI: Sor-Range-Degari coal-field lies 13 to 25 km south east of Quetta covering an area of about 50 sq km and is easily accessible through metalled road from Quetta.

The northern half of the field is known as Sor Range, Degari is situated at the southern end of the field. The thickness of the coal seam varies from 1.0 meter to 2.0 meters but in Sor-Range seam sections up to 5.0 meters have been encountered. The coal is of better quality with low ash and sulphur content. The quality of the coal is high sub-bituminous A to high volatile B bituminous.

CHAMALANG: These are the newly discovered coal-fields which need development. Preliminary work done by GSP in these areas has indicated that it has a good potential.

The quality of coal is also better as compared to the rest of Balochistan. The rank of the coal ranges from high volatile C bituminous to high Volatile A-bituminous with a total resource of 6 million tonne. Its heating value is +12000 BTU/lb.

PUNJAB: The Punjab’s coal fields comprise the eastern, central and western Salt Range between Khushab, Dandot and Khewra while Makerwal coal-field lies in Trans-Indus Range (Sanghar Range). The rank of the coal is sub-bituminous A to high volatile bituminous.

SALT RANGE: The Salt Range coal-field covers an area of about 260 sq km, between Khushab, Dandot and Khewra. The entire coal producing area is well connected with roads and railways.

The top seam varies in thickness from 0.22 meter to 0.30 meter while the middle seam is up to 0.60 meter thick. The lower seam is up to one meter thick and is relatively of better quality.

It is being mined in Dandot, Choa-Saiden Shah and adjoining areas. The Punjab Mineral Development Corporation and several private companies are operating the mines in the area. Reserve of the deposit is 235 million tonnes.

MAKERWAL/GULLAKHEL: Makerwal/Gullakhel coal-field is situated in Sarghar Range (Trans-Indus Range). The coal-field extends from about 3.2 km west of Makerwal to about 13 km West of Kalabagh covering an area of about 75 sq km, in Mianwali district. The quality of Makerwal/Gullakhel coal is better than that of Salt Range coal and is preferred by the consumers. Total reserves of the deposit are 22 million tonnes.

Lignite, the indigenous coal mostly found in Pakistan is a comparatively young coal geologically speaking and has the lowest carbon content of just 25-35 per cent and also the lowest heat value of only 6,000-10,000 BTUs per pound.

However, lignite, which is called ‘brown coal’, can be used for electric power generation. Lignite found in Thar has comparatively lower sulphur content, makes it more suitable for power generation after the washing process and an appropriate plant design.

The local production of coal is estimated at 3.21 million tons out of which presently over 80 per cent is being utilized by bricks makers, while the rest are being consumed by the cement industry to blend it with the imported coal to reduce the production cost, and only one per cent by the coal-based power stations.

It is reported that around 85 per cent of the cement industry has shifted on low-priced coal from relatively more expensive natural gas and furnace oil. The conversion has small impact on the local coal production because cement units are using high rank imported coal as the indigenous coal is of low quality.

Indigenous coal is blended with imported coal in small proportion, which is necessary for smooth operation of the plant. During the 2002, the cement industry utilized one million tons of imported coal from South Africa, Austria and Indonesia. Imported coal cost Rs3150 to Rs3510 per ton while local coal cost Rs1300 to Rs2500 per ton.

Use of coal as fuel in sugar industry can save around 9 million tons bagasse, which can be utilized to produce medium density fibreboard, excellent replacement of furniture-making wood and consequently saving our fast depleting forests.

Coal is also an important raw material for the production of several chemicals. Refined coal tar can be used in the manufacture of a range of chemicals including pitch, creosote oil, naphthalene, phenol, pyridine, benzene, toluene, xylene, ethylene, propylene, polyesters, plastics, synthesis gas, acetic acid, acetic anhydride.

Numerous chemicals and fuels can be manufactured from the gasification of coal. In late 1950’s, Pak-American Fertilizers, Iskandarabad, Daudkhel was based on gasification technology supplied by Lurgi to produce ammonia and ammonium sulfate fertiliser.

Sasol of South Africa has developed the processes for production of petrochemicals from coal, with high ash content by gasification. Coal under pressure and high temperature, in the presence of steam and oxygen is converted to raw gas.

Condensation and subsequent cooling of gas, yields co-products such as tar and oil. Nitrogenous compounds (Ammonia), sulfur and phenolic compound are also recovered. The purified synthesis gas after cooling is made available for conversion to synthetic fuels and or chemical production. Sasol acquired the technology from Lurgi (Germany).

South African coal reserves are largely bituminous with relatively high ash content (about 45%) and low sulfur content (1%). The advantage of SASOL process is that it can process low-grade coal and a number of high value chemicals are produced along with synthetic fuels. It is understood that Sasol or similar technology can be adopted for our coal reserves.

It’s time to explore coal and develop coal-fired power plants to not only lessen dependence on imported fuel but also to cut the cost of power production for the benefit of the industries, trade and individual consumers.

The government should also consider the utilization of indigenous coal for coal gasification, to produce high value petrochemicals, for which suitable technologies are available in the world.

Table - 1
Coal Production (Thousand Tonnes)
Year Pakistan Punjab Sindh NWFP Balochistan
2002-03 3609.3 502.3 1049.1 266.2 1791.7
2001-02 3511.8 515.2 993.0 237.4 1766.1
2001-02 3285.7 401.3 1005.6 191.3 1687.5
1999-00 3164.3 454.5 981.9 46.3 1681.5
1998-99 3377.9 479.1 1233.1 53.2 1612.5
1997-98 3144.5 365.6 1178.3 59.1 1541.5
1996-97 3496.4 425.3 1093.0 55.7 1922.0
1995-96 3465.1 514.9 1088.1 43.6 1818.5
1994-95 3009.6 416.0 1046.2 55.7 1491.5
1993-94 3214.4 465.4 1093.8 67.0 1588.1

Table-2
COAL RESOURCES
Coal Resources
(million tonnes)
Province/
Coal field Measured Indicated Interred Hypothetical Total
SINDH
Lakhra 244 629 455 - 1,328
Sonda- Thatta 60 511 2197 932 3,700
Jherruck 106 310 907 - 1,323
Others 82 303 1881 - 2266
Thar 3,407 10,323 81,725 80,051 175,506
Sub- Total 3,898 12,076 87,165 80,983 184,123
BALOCHISTAN
Kohst-Sharig-Harnai 13 - 63 - 76
Sor-Range/Degari 15 - 19 16 50
Duki 14 11 25 - 50
Mach-Abegum 09 - 14 - 23
Pir Ismail Ziarat 02 02 08 - 12
Chamalong 01 - 05 - 06
Sub-Total 54 13 134 16 217
PUNJAB
Eastern Salt Range 21 16 02 145 235
Central Salt Range 29 - -
Makerwal 05 08 09
Sub-Total 55 24 11 145 235
GRAND TOTAL 4,008 12,113 87,189 81,144 184,575

McCain’s pastor problem: “Catholicism is a Whore”, “Katrina was God’s wrath on Gays”, “USA should destroy Islam”-Ignoring Rod Parsley’s bigotry?

moinansari — Sun, 11 May 2008 16:36:57 +0000

McCain’s pastor problem: “Catholicism is a Whore”, “Katrina was God’s wrath on gays”, “USA should destroy Islam”-Why is the press that gave so many news cycles to Obama’s pastor now Ignoring McCain’s Rod Parsley’s bigotry?

Across the board, both “Rev” Parsley and “Rev” Hagee are bigots. Their statements on Hurricans, Catholics, Jews, Gays, and Muslims are beyond the pale of American tolerance.

http://www.youtube.com/watch?v=ULeBsdSGZx4&feature=related

Senator John McCain and his pastor, Rod Parsley. America will not put up with this nonsense. Senator McCain has to own up to the bigotry of Pastor Rod Parsley and reject his theology.

http://www.youtube.com/watch?v=GFFnumjco-Y&feature=related

Black theology was criticized. What about Rod Parsley’s bigotry? There are between 10 and 16 million Muslims in the USA. Some are in key states.

McCain’s Geert Wilders:-When will Senator McCain repudiate Pastor Rod Parsely’s an anthology of bigotry and hate titled “Silent No More”? Why is the media throwing softballs to Senator McCain’s “Straight Talk Express”?

McCain’s pastor problem: John Hagee is a mirror image of the other extremsits at the other end of the spectrum-Bin Laden and company.

Parsley: Time to “Confront” Islam

Ohio televangelist Rod Parsley warned his television audience today that unless Islam is “confronted,” there will be “terrible consequences in this city, in this nation, in the free world.” Said Parsley:

Listen — we have a great president, but I’m not sure about his theology. You see, I will lift up my voice (as I do in the book Silent No More) against the very idea that the God of Christianity and the God of Islam are the same being. They are not the same being, and when the God of Christianity is presented to a Muslim world, their hearts turn to him. http://www.rightwingwatch.org/2006/08/parsley_time_to.html

“USA must destroy Islam” John Hagee. Imagine if he had called “Judaism as a false religion” or that “Blacks had false prophets”. Imagine if he had said that Jesus followers should be annhilated?

MCCain’s Pastor says that the USA was created to destroy Islam and this should be its prime objective. McCain despite repeated efforts has refused to condmen the Pastor. The obsequious increasinlgy Murdockized media is not making this as big an issue as Obama’s pastor. The media excoriated Mr. Obama for weeks on end, while ignoring the horrendous remarks of Paston John Huggee which disparaged Islam and Prophet Muhammad

You may have heard of Rev. John Hagee, the McCain supporter who said God created Hurricane Katrina to punish New Orleans for its homosexual “sins.”Well now meet Rev. Rod Parsley, the televangelist megachurch pastor from Ohio who hates Islam. According to David Corn of Mother Jones, Parsley has called on Christians to wage war against Islam, which he considers to be a “false religion.” In the past, Parsley has also railed against the separation of church and state, homosexuals, and abortion rights, comparing Planned Parenthood to Nazis.

http://www.youtube.com/watch?v=zASVwKZglAM&feature=related

Watch this appalling video or “Rev” Rod Parsley.

http://bravenewfilms.org/blog/38133-mccain-s-spiritual-guide-wants-america-to-destroy-islam

John McCain actively sought and received Parsley’s endorsement in the presidential race. McCain has called Parsley “a spiritual guide,” and he hasn’t said whether he shares Parsley’s vicious anti-Islam views. That’s because the mainstream media refuses to ask. And so, we’ve taken matters into our own hands, joining Mother Jones to present the truth about McCain’s pastor:

Watch the Parsley video: http://bravenewfilms.org/watch/24325184/38133?utm_source=rgemail

Since the media won’t question McCain about his deeply bigoted pastor, it’s up to the alternative media to call attention to this issue. McCain’s pastor problem is a major story. Digg it! Why is the mdia letting McCain get away with aligning himself with a religious leader who’s called for an all-out war on Islam, someone who draws no distinctions between Muslims and violent Islamic extremists. According to some The Muslim vote is curicial for tipping some states. Michigan, Los Angeles, Newy York are some of the areas with huge Muslim populations. The Muslim vote voted en block.

CONQUER THE WORLD

Parsley is also a dominionist. This too, grows out of the Word-Faith error. Dominionism teaches that powerful anointed men will bring in all the benefits (healings and miracles) of the millennium, creating a Utopia to which Christ will return. Somehow they will reverse the consequences of the Fall and totally subdue disease and the hard circumstances of life.

This teaching is also identified as “Manifest Sons of God” doctrine. It confuses glorification by intermingling it into the sanctification process. One cannot take glorification and arbitrarily impose it on the sanctification process. It is a grave and fundamental error that produces chaos. Sanctification is growth while glorification is completion or perfection, which comes in resurrection and the eternal state (Romans 8). Parsley no longer wants “a mansion over the hilltop,” he wants it here and now.

Parsley derives the dominion teaching not from Scripture but from a “prophecy” of the late evangelist-healer Tommy Hicks (1909-1973). Hicks held mass meetings in Argentina in the mid-1950s and was a friend of Juan Peron.²⁵What should be alarming to any Christian is that Hicks seemed to be open to occultic phenomenon.

Hicks’ so-called prophecy²⁶ referred to by Parsley is wild imaginings of science fiction. He claims to have seen in a vision on July 25, 1961, that a great anointed miracle army was then about to burst on the scene, healing multitudes and invulnerable to bullets and death. This unstoppable army would be miraculously transported from place to place. Hicks must have known about the occult phenomenon called astral projection.

Will man ever be invulnerable to death? According to 1 Corinthians 15, death will not be finally destroyed until Jesus comes. Here, almost 40 years later, Hicks’ imminent army has not shown up.

In the May 28, 1999, installment of his daily program (filmed in a replica of the Upper Room in Jerusalem, Israel), Parsley predicted a new “wave” coming that would empty out hospitals and anoint seemingly ordinary believers. The new wave or as it is sometime called, “the new thing,” has been touted for over 50 years (over a decade longer than Parsley has been living) and goes back to the heretical Latter Rain Movement of the late 1940s,²⁷ which, by the way, was condemned by the Assemblies of God until recently.

On the program, Parsley appealed to the Hicks “prophecy” and added the twist that we are not to look to the Book of Acts, but to a far greater, future day of miracles. Parsley’s claim is that there is an end-time Church coming greater than the Church of the Apostles, which will routinely heal the sick and raise the dead.

Telling people to turn away from the Bible, the Book of Acts and the former Apostles and Prophets and to believe men’s “prophecies” as Parsley does, is a major slide to error and deception. After all, if it is not in the Bible, how do we know it’s true? End-time restorationism is a chimera and a myth.

Occult researcher Kurt Koch names Tommy Hicks as dealing in “psychic shock effects” and found that his claimed healings did not last.²⁸ Though Koch was open to the possibility of miraculous healing, he was convinced that men such as Hicks did not measure up and moved more in the realm of the psychic and suggestive.²⁹

Dominionism, with its new breed of prophets, is a convoluted postmillennial scheme that makes man the Messiah and focal point. Historically, postmillennialism taught that the universal spread of the Gospel along with Christian preaching and teaching would be the moral dynamic of bringing in the kingdom.³⁰Historical postmillennialism is Word-centered and Gospel-centered, not man-centered. Dominionism is prideful and humanistic, centering on self-appointed “super prophets and super apostles” who bring in the Kingdom. It totally confuses Christ and the Church.

Albert James Dager, of the apologetic ministry Media Spotlight, says Dominion teaching is predicated on three basic beliefs:

“1) Satan usurped man’s dominion over the earth through the temptation of Adam and Eve; 2) The Church is God’s instrument to take dominion back from Satan; 3) Jesus cannot or will not return until the Church has taken dominion by gaining control of the earth’s governmental and social institutions.”³¹

Michael Moriarty further explains Dominionism and Parsley’s connection:

“In any event, the new charismatics continue to stress the need for the church to exercise dominion over society. Power-packed conferences like Dominion ‘90 (July 29-Aug. 3, 1990), hosted by Pastor Rod Parsley and World Harvest Church in Columbus, Ohio, serve to raise the consciousness of the church to the responsibility to take dominion over society. Some charismatics claim that ‘God told them’ that Jesus will return in our generation ‘if’ the church becomes more responsible in its dominion pursuit.”³²

Since it will take the power and the mighty coming of Jesus to establish the Kingdom, dominionism is a figment of man’s imagination though a lucrative one. It’s a tired old hat that is preached ad infinitumby the likes of other Pentecostal superstars as well, including Benny Hinn, Kenneth Hagin and Rodney Howard-Browne. The “day of creative miracles” or “the day of dominion” is always just on the horizon, but it never seems to arrive. It is, in part, the bait which keeps the devotees of these Charismatic leaders perpetually nipping at their hooks.³³

So many of the “healers” have died of major illnesses (and the living ones have sicknesses) that their teachings are a joke to those who know better. A genuine and thorough reading of the Book of Revelation leaves no doubt that it is the “King of Kings and Lord of Lords” who will bring in the perfect and final Kingdom (Revelation 19:11-20:5). Man cannot miraculously recreate the earth and bring in heaven. http://www.pfo.org/parsley.htm

Parsley is identified as a prominent player in the dominionist movement by both TheocracyWatch ^[5] and commentator Bill Moyers ^[6]

Some have also criticised Parsley for his recent book, Silent No More, because of the book’s explanation of Islam and the view that the U.S. Constitution provides for a separation of church and state (among other popular social issues), and for his support of faith healing. Parsley has identified Islam as an enemy of the United States and Christianity.^[7]

In January 2006, a group of 31 Columbus, Ohio, area pastors charged that Parsley and another central Ohio religious leader had violated federal tax laws. The complaining clergy alleged, but never proved, that Parsley violated the tax-exempt status of his church by supporting various political causes. ^[8]^[9]

Author Chris Hedges’ 2006 book American Fascists: The Christian Right and the War on America notes the openly militaristic metaphors Parsley has used, particularly in describing his opponents:

The secular media never likes it when I say this, so let me say it twice. Man your battle stations! Ready your weapons! They say this rhetoric is so inciting. I came to incite a riot. … Man your battle stations. Ready your weapons. Lock and load–for the thirty, forty liberal pastors who filed against our ministry with the Internal Revenue Service. … Let the struggle begin. Let it begin in your heart today with a shout unto him who has called us to war–not only that, he has empowered you and I to win. —Rod Parsley^{[10] Wikipedia source}

References

^ Frances Fitzgerald. “Holy Toledo: Ohio’s gubernatorial race tests the power of the Christian right“, The New Yorker, July 31, 2006. Retrieved on 2007-03-01.

^ YouTube - Rod Parsley: More on “Black Genocide”

^ Alan Johnson and James Nash. “Huckabee, McCain keep rivalry in motion“, The Columbus Dispatch, February 27, 2008. Retrieved on 2008-03-24.

^ Christians United for Israel: Directors. Christians United for Israel. Retrieved on 2008-05-01.

^ “The Rise of the Religious Right in the Republican Party: Ohio’s Patriot Pastors”, TheocracyWatch, Last updated: September 2005; URL accessed May 24, 2006.

^ 9/11 And The Sport of GodBill Moyers September, 2005. TheocracyWatch, URL accessed May 24, 2006.

^ http://www.motherjones.com/washington_dispatch/2008/03/john-mccain-rod-parsley-spiritual-guide.html

^ The Columbus Dispatch - Local/State

^ The Columbus Dispatch - Local/State

^ Chris Hedges’ American Fascists: The Christian Right and the War on America, [1]

Rod Parsley’s official website

Rod Parsley at the Internet Movie Database

New Yorker article on Parsley and the Religious Right in Ohio

Rod Parsley’s ProCon.org Biography

With God on His Side, American Prospect, November 2005

Raging Prophet

Retrieved from “http://en.wikipedia.org/wiki/Rod_Parsley“