U-turn from Xabi Alonso

The clouds on the horizon have lifted. In a whirlwind last 24 hours, there has been a major breakthrough, cutting through the doom and gloom that had begun to surround the issue of Xabi Alonso's future and causing a seismic shift in the mood.

MARCA.com can reveal that Xabi has more or less made his mind up and has instructed his friend and agent, Iñaki Ibañez, to begin negotiating a new contract. In other words, his first choice is to stay at the Bernabéu.

Talks on a new deal won't begin until after 6th January, which is a public holiday in Spain. The issues up for discussion will be the length of the contract and his wage packet. The 32-year-old will want a minimum two-year extension, with a possible optional third year related to his performances and fitness. As for the financials, a salary of around €7 million a season is likely.

There can be no doubting Real Madrid's eagerness to tie Alonso down. Florentino Pérez himself told the midfielder as much when they last spoke, around a month ago.

'Los Blancos' are convinced that Alonso won't find the same levels of respect and affection he receives at the Bernabéu anywhere else. For instance, having still not fully shaken off his groin injury, Xabi will be given a say in everything related to his fitness. He will be offered free rein to determine his regime, when he needs a break and when to play on, together with the coaching and medical staff and depending on the team's needs.

BAYERN AND 'LOS BLANCOS' ARE CHAMPIONS LEAGUE FAVOURITES

Bookies betting on Real-Guardiola reunion

R. JIMÉNEZ 12/28/2013

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The latest bookies' odds have installed Bayern Munich and Real Madrid as heavy favourites to win the Champions League. Guardiola's side is priced at an eye-catching 47/20, while Real's odds have been tumbling ever since the competition got underway, recently falling from 19/4 to 22/5.

Barcelona's chances of lifting the trophy have taken a real beating at the bookmakers ever since the draw for the last 16 was announced, in which the 'Azulgranas' were pitted against the strongest possible opponents in Manchester City.

Martino's men had been the second favourites after Bayern throughout the group stage, but now stand third in the reckoning with odds of 57/10, a far cry from the price of 9/2 that was available a few weeks ago.

Borussia Dortmund and Chelsea are the next most fancied teams with odds of 121/10 and 129/10 respectively, making them potentially lucrative longer shots.

The biggest surprise package in the competition has been Atlético de Madrid, which easily topped its group and now faces a tie against what is far from a vintage Milan side.

The mood among the bookmakers reflects the confidence at the Calderón, with Atlético currently tipped as the sixth favourites at 13/1. This makes for incredible reading, especially when you consider that the 'Rojiblancos' were rank outsiders before the group-stage draw, with odds of 66/1

Costa staying at Atletico' - Caminero

The sporting director has issued a 'hands off' warning to any clubs interested in their star striker, insisting the player will remain in Madrid

Atletico Madrid sporting director Jose Luis Caminero has ruled out the possibility of prolific striker Diego Costa leaving the Vicente Calderon in January.

Speculation of a potential exit has been fuelled by the €38 million release clause within the player's contract, which he signed in August this year.

However, Caminero insists the 25-year-old, who has scored 19 goals in 17 league games, will not be leaving the club, despite interest from several parties.

“Right now, Costa does not think of leaving, he is hooked with Atletico,” he explained in an interview withMarca.

Under the management of head coach Diego Simeone, Atletico have gradually bridged the gap between themselves and city rivals Real and currently sit joint top of La Liga with Barcelona. 

Nevertheless, a regular theme in recent years has been the departure of key players – most recently the summer sale of Radamel Falcao to Monaco – but Caminero is not interested in selling more top stars.

The sporting director continued: “Diego is happy here. He just renewed his contract, demonstrating that he wants to stay here,

“He knows how this club works, money won't be a problem."

The Copa del Rey holders are through to the last 16 of this season's Champions League to face AC Milan and could be contenders for further silverware this campaign. 

Whilst Caminero rules out Costa's departure, the director does believe the club will be busy during next month's transfer window, stating "there will be changes". 

However, one area he is not worried about is the goalkeeper situation, with No.1 goalkeeper Thibaut Courtois on loan from Chelsea and Daniel Aranzubia.

He added: “We have three great goalkeepers, two of them on loan. This position is not our worry now

Diamer Bhasha: Boundary dispute threatens to stall key dam project

The ownership of the land stretched over eight kilometres is disputed between the people of Diamer and Kohistan. PHOTO: FILE

ISLAMABAD: 

As a pre-emptive measure, the federal government will soon deploy security forces along the disputed territory of the Diamer Bhasha dam site. The ownership of the land stretched over eight kilometres is disputed between the people of Diamer and Kohistan.

Officials from the Ministry of Kashmir Affairs and Gilgit-Baltistan told The Express Tribunethat a letter has been written to the interior ministry asking the federal government to deploy forces in the disputed territory to avoid any clashes between the two parties.

Dispute between the two parties had worsened in the past month after the people of Kohistan blocked the Karakorum Highway for days warning to march toward Diamer claiming the dam site.

A source in the ministry of water and power stated that this boundary dispute between Khyber-Pakhtunkwa and G-B might lead to a delay in the construction of the mega dam.

“The dispute will make it difficult for the government to formally start working on the construction of the dam without settling the boundary dispute between the two parties,” said a senior official of WAPDA.  In a high-level ministerial meeting, held at the Ministry of Kashmir Affairs and Gilgit-Baltistan (KAGB), it was decided that security forces will be deployed along the disputed boundaries.

The ministers — Chaudhry Barjis Tahir, Minister for Planning and Development Ahsan Iqbal, Minister  for Inter-Provincial Coordination Riaz Pirzada, Information Minister Pervez Rashid, federal secretary KAGA, chief secretaries of GB and K-P— also decided that a neutral commission should be constituted to resolve the matter.

The issue arose after the government announced compensations for the families affected by the construction of the dam.

Following the announcement, people from Kohistan claimed that the area upstream up till the Basari check post near Chilas, fell under Kohistan’s jurisdiction. On the other hand, locals of the Diamer district maintained that the area downstream up to Harban belonged to them.

Interestingly, the disputed area is part of an unsettled territory without proper revenue records. However, historically, the disputed territory has administratively remained under the control of the G-B administration and its forces have been deployed at the Basari check post for many decades.

The government later deployed security forces on both the Basari and Harban check posts to deal with any untoward situation. The final decision on the issue will be made by the proposed commission.

Both the sides reject each other’s claims over the area, where the powerhouse of the dam is likely to be constructed.

Casillas reveals condition for Real Madrid exit

The Spain goalkeeper has hinted at a possible departure from the Santiago Bernabeu, suggesting he wants to play for a club where he would be considered No.1

Iker Casillas has dropped the biggest hint yet that his future lies away from Real Madrid.

The goalkeeper, who is currently understudy to Diego Lopez at the Bernabeu, has spoken of his desire to be first choice again at club level.

Casillas has been linked with a string of top European sides ahead of next summer's World Cup when he faces a battle to keep his position as Spain's No.1.

The 32-year-old was expected to attend a training camp in Doha - backed by the Iker Casillas Foundation - for around 20 specially selected, young goalkeepers from around the world.

But, due to the possibility of his wife, Sara Carbonero, giving birth to the couple's first child this week, he opted out after medical advice.

Casillas instead spoke to the keepers on a conference call on Friday, dispensing advice from his own experiences and passing on tips for career progression.

At the end of the discussion, he took questions from the group and was asked directly if he was interested in joining Manchester City, the Premier League club managed by his former Madrid coach Manuel Pellegrini.

"I'm not going anywhere I'm going to be No.2," said Casillas, who is under contract with Madrid until 2017.

Casillas has been linked with City after Pellegrini recently dropped Joe Hart, but the England goalkeeper has since won his place back and started in the 2-1 victory against Liverpool on Thursday. 

But, intriguingly, the Spanish icon - who has a record 152 caps for his country - has left the door open for any club where he would be guaranteed to be first choice.

A gift from UAE: Pindi gets modern health facility

External views of the newly built Emirate Hospital at MH Rawalpindi. PHOTO: EXPRESS

ISLAMABAD: 

Residents of Rawalpindi and its surrounding areas are set to get a fully functional, state-of-the-art health facility soon, The Express Tribune has learnt.

The Emirates Hospital, as it is named, was said to be one of the largest health projects in Pakistan by the United Arab Emirates (UAE) under its Pakistan Assistance Programme (PAP) costing $173 million.

With a total capacity of 1,000 beds, the hospital is expected to cater to over 60,000 patients in its different departments including gynaecology and a liver transplant centre.

The first phase of the hospital has already been completed at a cost of $108 million and became operational in the first week of this month.

The entire project is planned to be completed by March 2014.

Sharing the details of the project an official requesting not to be named said that the building is being constructed within the premises of the Military Hospital (MH).

The official said that the existing infrastructure of MH has deteriorated due to lack of resources and overload warranting a major reconstruction and rehabilitation efforts. Considering that the UAE government has made this grant.

“The hospital was actually a gift to the people of Pakistan from the UAE government aimed at easing the humanitarian crisis facing the country after the consecutive floods [in 2010 and 2011],” he said.

This facility will have a number of centres of excellence where difficult cases could be referred for expert opinions.

It will also have an outdoor patient department (OPD) complex, an indoor patient department, an accident and emergency department, a diagnostics centre and officers and family wards.

It will provide various kinds of diagnostic facilities such as biomedical laboratory, microscope camera system, computed radiography system, fluoroscopy digital system.

The idea behind constructing the complex which will house 17 OPDs of different departments such as gynecology, vaccine, rheumatology, pediatric surgery, rehabilitation, nephrology among others, was to bring all the consultancy services under one roof, said the official.

Previously all the OPDs were scattered over the premises which created problems for patients in terms of accessibility.

“It is hoped that the hospital will prove to be a benchmark in quality health services,” said the official.

Payments pending: KESC accuses government of reneging on promises

After taking over, the Abraaj Group has added 1,006 megawatts to the system with an investment of $1 billion. PHOTO: FILE

KARACHI: 

The federal government is not honouring its sovereign commitments given to the Abraaj Group, the Dubai-based firm that manages Karachi Electricity Supply Company, which may hamper future privatisation plans, say senior officials of the company.

The government was reluctant to clear outstanding dues of the Karachi Water and Sewerage Board (KWSB) owed to KESC under the Amendment Agreement of 2009, said the company’s top managers during an interaction with journalists here on Thursday.

In addition to that, the government was not ensuring supplies of gas and delaying the clearance of Tariff Differential Claims (TDCs), they added.

Company’s Chief Executive Officer Syed Nayyer Hussain and his entire team discussed the achievements that they made, the future investment plans and the challenges being faced.

The government owed Rs63.6 billion to KESC including Rs37.8 billion worth of TDCs and Rs25.8 billion of KWSB, which is 43.6% of the total receivables held by KESC.

“To ensure that the privatisation plans are successfully implemented, the federal government should honour its commitments,” said Syed Muhammad Taha, Chief Distribution Officer of KESC.

Syed Moonis Abdullah Alvi, the Chief Financial Officer, said under the Amendment Agreement, if the KWSB does not service its liabilities within three months, these will be the obligation of the federal government.

But the spokesman for the Ministry of Finance, Rana Assad Amin, said the TDC dues were a dispute between the KESC and the National Tariff and Dispatch Company (NTDC). On the issue of KWSB, he said KESC should approach the federal adjustor for the recovery of the dues.

“KESC is the only privatised entity and any future buyer of a public sector power enterprise will surely come to us for consultation before striking a deal,” said Alvi.

The government has announced an ambitious privatisation plan under which it promises to either privatise or offload shares in 32 public entities, including power distribution companies of Islamabad, Faisalabad and Hyderabad.

“In August, I raised the issue of KWSB payments with Ishaq Dar and he responded by telling me to bring an order from the Supreme Court and the federal government will cut the outstanding amount from the National Finance Commission (Sindh’s share) and give it to KESC,” said Alvi.

The company has already served a legal notice on the government three months back. The government had also promised to give 276 million cubic feet of gas per day (mmcfd) to KESC, but was providing far less than the committed volumes, which was affecting power generation, he added.

“We have to sit across the table and sort out things which are hampering the implementation of the agreement,” said CEO Syed Nayyer Hussain.

He said KWSB’s monthly billing was in the range of Rs625 million to Rs650 million. KESC was clearing the monthly bills of Sui Southern Gas Company in addition to paying arrears but KWSB was not paying to KESC, he added.

To a question, Zahidi said under the agreement the NTDC was bound to provide 650 megawatts of electricity until 2015. He said KESC was self-sufficient in power supply but was resorting to load-shedding as a strategic policy to reduce line losses and improve recoveries.

The KESC’s new management can claim some big achievements. After taking over, the Abraaj Group has added 1,006MW to the system with an investment of $1 billion, said Zahidi. The new management improved efficiency from 30% to 40%.

KESC has introduced drastic changes to improve financial and administrative affairs of the company and resultantly line losses have been reduced and recovery has improved a lot, said the CEO.

He said the company was ready to share its success model with other power distribution companies.

Foreign currency: With heavy debt repayment, reserves fall to $3.1b

Pakistan’s foreign exchange reserves have been under pressure because of continuously dwindling reserves held by the SBP. PHOTO: FILE

KARACHI: 

Foreign exchange reserves held by the State Bank of Pakistan (SBP) decreased to $3.1 billion on December 20 as opposed to $3.4 billion a week earlier, showed data released by the SBP on Thursday.

The decline of 7.9% in the foreign exchange reserves came as a result of payments amounting to $185 million, according to a spokesman for the central bank.

Out of the payments of $185 million, external debt servicing was $162 million including $58 million repayment to the International Monetary Fund (IMF), and other official payments amounting to $23 million.

There was no major inflow from multilateral and bilateral sources during the week, which caused the drop of $275 million in the period under review.

However, the second tranche of the Extended Fund Facility of $554 million, which was cleared after the successful completion of the first review by the IMF, was received on December 23, and hence will be reported in the next week’s reserve position.

Total liquid foreign reserves in Pakistan amounted to $8 billion on December 20, which was 5.1% less than the preceding week’s figure. Similarly, net foreign reserves held by banks other than the SBP stood at $4.8 billion, which was 3.1% less than the corresponding figure on December 13.

Pakistan’s foreign exchange reserves have been under pressure because of continuously dwindling reserves held by the SBP. They amounted to a little over $6 billion at the end of June, which reflects a decline of almost 47% in roughly six months.

The rupee has appreciated against the dollar in only two of the last 30 years (2002 and 2003) while average annual depreciation of the rupee over the same period has stood at 6.5%. However, the rupee has undergone a sharp 6% depreciation since July this year when it traded around Rs99.

Most analysts believe the recently received IMF tranche of $554 million will stabilise the foreign reserves position, but only in the short term.

Most brokerage houses expect the rupee-dollar parity to hover in the range of Rs108-112 mainly because of few major inflows in the second half of fiscal year 2013-14, despite recent statements by the finance minister claiming a reversal of trends which will see the rupee appreciate in value

Offshore handling: Pakistan’s only single point mooring completes first year

The company has laid a 15km pipeline at the seabed from the SPM to pump crude oil to its refinery. PHOTO: FILE

KARACHI: 

In a major positive development, Pakistan has successfully joined the club of countries with single point mooring (SPM) facilities in the deep sea to transport crude oil through a pipeline to the refineries set up along the coast.

Byco has completed the first year of successful SPM operations, which can save millions of dollars in demurrages due to quick disposal of imported crude oil.

During a visit on Wednesday to the SPM facility set up by Byco refinery, representatives of the company told journalists that the company had laid a 15km pipeline at the seabed from the SPM to pump crude oil to its refinery.

“We celebrate the completion of the first year of successful SPM operations. The first vessel, MT Arietis, was moored to the SPM on December 26, 2012 with a cargo of 67,146 tons,” Imran Farooki, CEO of Byco Terminals Pakistan Limited (BTPL) told the journalists.

“The SPM’s single largest cargo to date came on vessel MT Quetta with a quantity of 79,000 tons. Thanks to the entire Byco Terminals Pakistan team for their untiring efforts in making this project a success,” he said.

Farooki said the SPM was expected to start commercial operations in January as a Turkish-based firm had given certification to tackle the issues arising out of an oil spill. The certificate has been submitted to the Oil and Gas Regulatory Authority (Ogra).

The media people were taken to the Arabian Sea where an oil vessel was anchored about 65 km offshore, with 65,000 tons of crude oil, near the floating buoy.

The oil was being transported from the oil vessel to Byco’s oil refining complex established at the shores in Hub, Balochistan through a 28-inch pipeline, 26 metres under the sea.

Crude oil procurement head Syed Rizwan Ali Gillani gave a comprehensive briefing about this unique technology for import and export of petroleum products without getting huge oil vessels anchored at the port.

He said the SPM was not a new technology as many other countries were using it. However, this is the first such facility in Pakistan.

In reply to a question, he said the location of the SPM would curtail the distance from Middle Eastern ports by 100 nautical miles per trip, leading to further savings in freight cost.

This has been introduced for the first time in Pakistan not by a public sector refinery, but purely by private sector’s refinery Byco without involvement of guarantees.

The pumping capacity of the SPM is more than 2,000 tons per hour. “SPM is an all-weather facility, which is the cheapest entry point for liquid cargo into Pakistan,” he said, adding the SPM is equipped with night navigation facility.

Byco refinery is currently refining 35,000 tons of crude oil a day. When its new refinery starts commercial operation, its refining capacity will increase to 155,000 tons per day, more than the capacity of Parco, which stands at 90,000 tons per day

Performance report: Mari Petroleum and PSO outperform KSE-100 index

Beating others: 129% is the return given by Mari Petroleum. PHOTO: FILE

KARACHI: 

Mari Petroleum and Pakistan State Oil (PSO) have so far outperformed the benchmark Karachi Stock Exchange 100-Share Index and have also led the overall oil and gas sector, which falls slightly short of the returns posted by the benchmark index, according to a report prepared by Topline Securities on Thursday.

Oil and gas is the largest listed sector on the Karachi Stock Exchange with a weight of 29%. It posted an annual return of 47% at the close of market on Thursday, falling slightly short of the 50% return given by the benchmark index in the same period, according to the report.

The sector gained on the back of above-average foreign inflows, clearance of circular debt, smooth government change and the new government’s efforts to promote investment in the energy sector.

The report stated that among 12 listed oil and gas companies, Mari Petroleum and PSO outperformed the broader index by 79% and 24%, respectively. Byco Petroleum, on the other hand, posted a negative return of 40% and remained the worst performing stock.

Within the oil and gas subsectors, energy and power performed almost in line with the benchmark index, refineries lagged behind while oil marketing companies outperformed the index.

Within the energy and power subsector, Mari Petroleum, Pakistan Oilfields (POL), Pakistan Petroleum Limited (PPL) and Oil and Gas Development Company (OGDC) provided an overall return of 49% in 2013, which is almost in line with the benchmark index’s return.

Mari outshined in this sector with 129% total return amid volumetric growth mainly from the Mari gas field.

PPL and OGDC that cumulatively comprise 20% of the KSE-100 index posted returns of 53% and 49%, respectively. PPL’s performance was fuelled by three discoveries in 2013 while OGDC gained on the back of volumetric growth mainly from Nashpa field.

Contrary to energy and power, the oil marketing sector – three listed companies – posted a return of 52% supported by 74% return from PSO. Other two players, Shell and Attock Petroleum Limited posted returns of 40% and 28% respectively.

PSO benefited the most from the resolution of circular debt issue, resulting in improved operational leverage and cash flow. The company’s share in the benchmark index increased from 2.4% to 2.9% in 2013.

The refinery sector, which comprises four listed companies, underperformed the broader index by 51% primarily on account of volatile gross refinery margins and heightened risk environment surrounding the sector.

The report pointed out that with 26% return, Attock Refinery was the biggest gainer among refineries. Being the third largest refinery in terms of market capitalisation, Byco held back the refinery sector performance as other peers offered 15% return on average.

Profit abroad: China a paradise for budding entrepreneurs

Spreading footprints: 25 is the number of countries in which Adil Husain’s group has opened offices with head office in Shanghai. PHOTO: INSTAGRAM/THE SECOND FLOOR

KARACHI: As an aspiring entrepreneur China is the dream country to start a business. Adil Husain, a Pakistani entrepreneur who started his business in China seven years ago, advises budding Pakistani entrepreneurs to enter the Chinese market instead of any other country.

“China has unlimited business opportunities mainly owing to its big population. The country is not only safe and secure for business and investment but also for living and raising your family,” said Husain while delivering a lecture at The Second Floor (T2F) Karachi.

After completing his higher education from a university in the United States, Husain chose China to start his business. “For me, China was an economy that was growing at a fast pace and it was a place where the world’s leading companies were trying to move,” he said.

Husain sold his car to finance his trip and went to China, learned Mandarin with his wife and launched business with whatever money he had in his hand. His wife got a job and he focused on his business.

“Today, the kitchen of my headquarters in Shanghai is bigger than my early offices when I started my business in China,” he said.

With the head office in Shanghai, the group today has offices in 25 countries all around the globe.

He advised young entrepreneurs in Pakistan to start their new business from China due to its fast growing economy. “Choose China to start your first business because this will continue to grow at a fast pace owing to its growing middle and upper middle class,” said Husain.

Pointing towards the importance of better relationships with neighbours, Husain said successive Chinese governments have developed good relations with its neighbours despite the difficulties it faced in the past.

Citing the example of Taiwan and Japan, he said China has always looked ahead while developing economic relations with its neighbouring countries despite political tensions and historic rivalries.

Husain is the president and founder of the Emerging Asia Group which provides primary research-based business-to-business (B2B) market intelligence in Asia. The company provides product information and consulting services that address the needs of clients which include strategy-consulting firms, business research firms, cross-border investors and Fortune 500 companies from all sectors.

New trend: Islamic banking gaining ground globally

Khan said the Islamic banking system was getting popular in European countries. ILLUSTRATION: JAMAL KHURSHID

FAISALABAD: 

University of Agriculture Faisalabad (UAF) Vice Chancellor Dr Iqrar Ahmad Khan has said Islamic banking is gaining popularity across the globe as the volume of Islamic banking has touched $1.4 trillion.

He was speaking at an international symposium on Islamic banking in emerging economies arranged by the Institute of Business Management Sciences, University of Agriculture Faisalabad in collaboration with Meezan Bank and Dubai Islamic Bank.

Khan said the Islamic banking system was getting popular in European countries, stressing “Islam is a religion of peace and provides solutions to all problems facing the globe.”

He underscored the need of polishing the entrepreneurship skills of students as part of efforts to fight unemployment.

Speaking on the occasion, Faisalabad Chamber of Commerce and Industry President Suhail Bin Rashid said Faisalabad was the “second largest economic hub” of the country and it was necessary to increase awareness of Islamic banking.

Illegal trade: Smuggled goods worth Rs15.7b seized in three years

The Customs department has reinvigorated its enforcement measures which include intelligence sharing with other agencies. PHOTO: PPI/FILE

ISLAMABAD: Customs authorities, as part of their anti-smuggling drive, have seized goods worth Rs15.736 billion in the last three fiscal years.

During fiscal year 2010-11, the authorities seized goods worth Rs5.502 billion, in 2011-12 they confiscated goods worth Rs4.905 billion and in 2012-13 goods valuing Rs5.329 billion were taken into custody.

According to officials, the main source of smuggling goods into Pakistan is the long porous border with Afghanistan. However, there is no mechanism to gauge the real quantum of smuggling. In its absence, the loss to the national economy cannot be determined with certainty.

In an effort to curb the smuggling, the customs department has reinvigorated its enforcement measures which include intelligence sharing, launching joint operations and support and facilitation from law enforcement agencies (LEAs) to the customs authorities.

Highlighting the significance of these steps, the officials said the Frontier Constabulary Balochistan and Khyber-Pakhtunkhwa had been entrusted with the task to take anti-smuggling measures within 20 km of the international border. Joint efforts are also being undertaken by the customs department and other law enforcement agencies.

Additional steps taken by the authorities include constant vigilance at major entry points or smuggling routes by the customs department with the assistance of LEAs.

Anti-smuggling powers are being given to the Pakistan Coastguards and the Pakistan Maritime Security Agency to curb illegal flow of goods in the coastal areas and high seas. Scanners have also been installed at airports for scanning of the baggage of incoming passengers.

Cash strapped: CDWP approves 8 new projects worth Rs4.7b

Federal Minister for Planning Development and Reform Ahsan Iqbal (C) chairs the CDWP meeting in Islamabad on Thursday. PHOTO: PID

ISLAMABAD: Despite facing an acute shortage of funds, the government on Thursday approved eight new projects worth Rs4.7 billion, while four projects worth Rs32.9 billion were referred to the Executive Committee of National Economic Council (ECNEC) for approval.

“Pakistan is currently in acute economic crisis. It is facing problems in energy, security and social sectors. Therefore, we must spend our resources on very important and high-priority projects by avoiding their wasteful expenditure,” the federal minister for Planning, Development and Reform Ahsan Iqbal remarked as he chaired a meeting of the Central Development Working Party (CDWP) meeting in Islamabad on Thursday.

The meeting had met to consider approvals for 14 development projects from Physical Planning & Housing, Health, Transport & Communications, Water Resources, Education, Energy, Governance, Culture Sports & Tourism, Information Technology and Higher Education sectors.

The approved projects include a health insurance (Social Health Protection) scheme for the poor in Gilgit worth Rs173 million. An integration of health services delivery with special focus on maternal newborn and child health (MNCH), lady health workers (LHW) and nutrition programme for Khyber-Pakhtunkhwa province worth Rs22.8 billion.  An improvement and reconditioning of a 52km stretch of the Noseri Leswa by-pass road in district Muzaffarabad-Neelum (AJ&K) worth Rs965 million; metalling and blacktopping of 40km stretch of the Authmuqam Karen by-pass road in Muzaffarabad-Neelum (AJ&K) worth Rs842 million. The construction of a flyover at Koyla Phatak in Quetta worth Rs1.4 billion was also approved.

CDWP also approved the Balochistan Small Scale Irrigation (BSSIP) Project worth Rs2.2 billion along with a project for the establishment and operation of basic education community schools across Pakistan (2012-16), worth Rs6.2 Billion.

Concept approval was also given to the Technology Park Development Project in Islamabad worth Rs5.4 billion.

CDWP also approved the Culture, Sports and Tourism Joint Institution Cooperation project between Pakistan and Norway worth Rs162 million.

The meeting also approved Rs644 million for establishing a campus of the Federal Urdu University of Arts, Science and Technology in Islamabad.

Approval for the Rs793 million reforms and innovation in government project was also granted. Under the programme reform agenda of the government would be pursued through the innovation and reform group over the next five years. An innovation fund will be established for this purpose with Rs250 million to encourage innovative projects.

“Government machinery is not capable to tackle new challenges of the global era. We need government machinery in line with the new management principles to facilitate and serve our people efficiently, which is not possible without reforms in the governance model,” Iqbal remarked.

Not all projects presented were approved. Iqbal was incensed at CDA authorities for presenting an odd architectural design for the extension of parliament house building, and directed them to redraw the plans in harmony with the existing structure of parliament building.

Chris Hemsworth wants to slow acting career

Chris Hemsworth wants to 'slow down' his acting career.
The 30-year-old actor - who has starred in some of 2013's biggest hit films 'Thor: The Dark World', 'Star Trek Into Darkness' and 'Rush' - wants to take a step back so he can enjoy time with his wife Elsa Pataky and their 19-month-old daughter India Rose. 
He said: 'I've been working solidly for a couple of years now, to the point where I have to slow down and spend some time with my family.'
Hemsworth wants a break but is concerned about 'saying no' after having spent so long trying to build a successful career in the entertainment industry. 
He said: 'You spend so long having your hand up, saying 'C'mon, c'mon - pick me!' there is a fear of saying no to things. It's bred into you. I get s**t sent to me and I think, ' I should probably just take this.'
'But now I try to say, 'Hold on - do you even like it? ' I do have a little control now. That's the transition - I'm not at the mercy of someone else so much. That's just as scary as it is liberating.'

Schalke’s Kevin-Prince Boateng attacked on street in Kaarst, police investigating

The local police force for Neuss, near Düsseldorf, confirmed to the local Rheinische Post newspaper on Thursday that it was Schalke's Kevin-Prince Boateng who was the victim of a Christmas Day assault in Kaarst. The incident was first announced in a police press release which named neither victim nor suspect.

'On Wednesday, 25.12.2013, at around 12:45, an incident of physical assault took place in Kaarst. A 26-year-old man, a resident of Meerbusch, was physically attacked on the street by a currently unidentified man,' the police statement said.

After the attack in Kaarst, the police said that Schalke's 26-year-old midfielder returned home before calling them.

'There are indications that the motive for the crime is connected to the personal affairs of the 26-year-old,' the police statement said. 'The man was mildly injured. Criminal investigators have begun their work.'

German mass-circulation paper Bild later reported on its website that Boateng was leaving the house of his ex-wife after visiting his young son at Christmas. According to Bild, Boateng was struck once by the assailant and fell onto a vase as a result. He later checked into a local hospital with bruising to his ribs, back and neck.

The police appealed for anyone who might have witnessed the apparent assault on Kaarst's 'Lange Hecke' street to make contact.

The Schalke player on Thursday issued only one post on his official Twitter account, a photo of a wristwatch with a short caption: 'It's TIME.'

Boateng, a Ghanaian international who grew up in Germany, joined Schalke late in the previous transfer window from AC Milan. He had previously played for rival club Borussia Dortmund. His half-brother Jerome Boateng plays for Bayern Munich and Germany. Ghana and Germany will meet in the group stages of the 2014 World Cup.