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Daily Archives: March 20, 2015

Conversion of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special United States Dollar Bonds and profit thereon March 20,
Category: Government Institutions Tags:  Comments: 0

Karachi, March 20, 2015 (PPI-OT): The following rates will be applicable for conversion into rupees of Foreign Currency Deposits, Dollar Bearer Certificates, Foreign Currency Bearer Certificates, Special U.S Dollar Bonds and profit thereon by ...

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Iftikhar Vohra requests Finance Minister to take steps on war-footing basis in order to ensure that dry coconut remains delisted from barter list to save local traders from suffering
Category: Chambers of Commerce Tags:  Comments: 0

Karachi, March 20, 2015 (PPI-OT): President of the Karachi Chamber of Commerce and Industry (KCCI), Iftikhar Ahmed Vohra, while expressing deep concern over illegal barter of dry coconut under Cross LoC Trade between Azad Jammu and Kashmir and ...

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Pakistan gets additional sea area of 50,000 sq km – United Nations accepts Pakistan’s claim for extension of continental shelf limits from 200 to 350 Nautical Miles Karachi, March 20, 2015 (PPI-OT): On 19 March 2015, United Nation’s Commission on Limits of Continental Shelf (UN CLCS) completed its review and accepted Pakistan’s claim for extension of its continental shelf limits thereby extending Pakistan’s sea limits from 200 Nautical Miles to 350 Nautical Miles. This adds over 50,000 sq km of continental shelf, to the existing 240,000 sq km of EEZ, under Pakistan’s jurisdiction. Pakistan will have exclusive rights over the seabed and subsoil resources of the added area. This is a landmark achievement and a momentous event in the country’s history which would bring vast economic benefits through exploitation of extensive natural resources present there. It is a proud moment for the entire nation as Pakistan has become the first country in the region to achieve this remarkable feat. Article 76 of the UN Convention on Law of the Sea (UNCLOS) allows coastal states to extend their Continental Shelf beyond 200 NM. However, a coastal state is required to prove its case through technical data to the UN Commission on Limits of Continental Shelf (CLCS); a body of 21 experts in Geology, Geophysics, Hydrography and other related disciplines. Pakistan also has the honour of representation in this august body. Commodore M Arshad SI (M), Hydrographer of Pakistan Navy is member of the Commission. The project to extend Pakistan’s Continental Shelf was started in 2005, jointly by Pakistan Navy and National Institute of Oceanography (NIO) with Ministry of Science and Technology as the sponsor Ministry. After 4 years of dedicated work and collection and processing of voluminous technical data, a comprehensive submission was made to UN CLCS on 30 April 2009. On Pakistan’s turn, a 7 member Sub-commission of UN CLCS undertook in-depth analysis/review of Pakistan’s Submission and after over a year long thorough scrutiny and analysis UN CLCS has now adopted recommendations for extension of Pakistan’s continental shelf from 200 to 350 NM. During this process, a Technical Delegation from Pakistan; comprising Commodore Zafar Mansoor Tipu SI(M) Judge Advocate General of Pakistan Navy, Dr Asif Inam the Project Director and Director General National Institute of Oceanography, Commander Salman Ahmed Khan Pakistan Navy Hydrographic Department, Mr Mohsin Tabrez and Mr Khalid Mehmood of National Institute of Oceanography, undertook this important task and held multiple interactions with the Subcommission. At the final stage, Pakistan’s delegation, headed by Dr Maliha Lodhi, the Permanent Representative of Pakistan to UN, gave the final presentation on 10 March 2015. After extensive deliberation the UN CLCS has now announced the adoption of Pakistan’s claim. Active pursuance and prompt responses of Pakistan’s delegation helped in culminating the whole process successfully in a relatively short timeframe. The accomplishment of this historic milestone, which augurs well for economic well being of the future generations, is outcome of seamless coordination and cooperation between various ministries and departments as well as sustained government support throughout a decade long effort. It is by all means a great national achievement with rich dividends for the nation in future. All those associated with the project deserve commendation. The nation is rightly proud of this achievement. We must now utilize all our resources to exploit the vast economic potential of our maritime zones for the benefit of our nation. For more information, contact: Lieutenant Commander Shakeel Ahmad Assistant Director Directorate of Public Relations Pakistan Navy Tel: +92-21-20063210 Cell: +92-333-2171764, +92-300-2171038
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Karachi, March 20, 2015 (PPI-OT): On 19 March 2015, United Nation’s Commission on Limits of Continental Shelf (UN CLCS) completed its review and accepted Pakistan’s claim for extension of its continental shelf limits thereby extending ...

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