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11/07/2009  
 Headlines: Senate told Seven airports shut in country,     ISB: The Senate was informed Friday that seven airports in different cities have been closed due to suspension of PIA flights.     The PIA suspended the flights due to a daily loss of Rs19 million during last year.     Suprem Court orders arrest of Gilani’s ex-PRO,     ISB: SC has asked the FIA to arrest former media coordinator of the prime minister, Khurram Rasool.     Present him in the court on 24th January otherwise action would be taken against the Agency.     Khurram Rasool is accused of corruption of Rs530 million.     Musharraf denies delay in return,     LONDON/KARACHI: Former military ruler & chief of (APML) Pervez Musharraf has rejected reports about suspension of programme to return home.     he would be back in Pakistan according to the scheduled programme.     SBP injects Rs 242.5bn in market,     Trade thru dry port fetches Rs1bn tax,     India SC rejects army chief’s plea,     100 more engines by year-end: Bilour,
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 Govt, Engro Power ink Thar coal project MoU



M Yasir Yousuf
KARACHI: A joint venture is about to start between government and Engro Power Gen Limited (EPGL) on Thar coal mining block II. The equity ratio of the project is 40:60 while the agreement in this effect has been reached in a meeting on June 1.
Engro Power Generation Ltd and Sindh Government now plan to negotiate, finalise and execute a Joint Venture Agreement after the execution of which they shall form a special purpose vehicle company.
The company will then firstly conduct a study to determine the feasibility of the mining project.
If it is found feasible, then the partners, through the company, will embark on the project.
EPGL, a 100 per cent owned subsidiary of ECPL, informed KSE that the company is interested in Block 2 of Thar coal field advertised by Sindh Government.