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Fuel and Energy: Pakistan


Economic Co-ordination Committee of the Cabinet (ECC) being held today (Wednesday) is likely to approve sovereign guarantee in respect of Syndicated Terms Finance Facility of Rs 7.487 billion for the power sector. Sources said that the ECC meeting to be presided over by Finance Minister Ishaq Dar is also expected to take up the issue of pending payments to Pakistan Agricultural Storage & Services Corporation Limited (PASSCO) by Afghanistan as well extension in export of wheat and wheat flour and textile policy 2015 is expected. The meeting is expected to consider telecom policy 2015.

The government Tuesday privatised the National Power Construction Company (NPPC), fetching Rs 2.5 billion. The government of Pakistan has sold 88 percent of the total shares or 1.76 million of its shares in NPCC to the Saudi Arabia''s company M/s Mansour Al Mosaid. The remaining 12pc shares are owned by the company''s employees under the Benazir Employees Stock Option Scheme.
National Electric Power Regulatory Authority (Nepra) has decided not to halt legal proceedings against K-Electric for allegedly breaching terms and conditions of generation and distribution licences, well informed sources told Business Recorder. The Authority took this decision after a stay order was granted by Sindh High Court (SHC) against the show cause notice issued by Nepra to K-electric.
Pakistan and Iran on Monday agreed to finalise a deal on 3000MW electricity instead of 1000MW which is already under negotiation. This consensus was evolved at a meeting between Secretary Water and Power, Younas Dagha and Iranian ambassador to Pakistan Ali Raza held in the Ministry of Water and Power.
The Cabinet Committee on Privatisation (CCoP) has decided to hold the bidding process for strategic sale of government shares in National Power Construction Company (NPCC) today (Tuesday).
The KP Oil and Gas Company limited (KPOGCL) will hold one day international Oil and Gas conference in Islamabad with a view to attract investment in the country and accelerate oil and gas exploration activities in the province endowed with huge hydrocarbon deposits. The Government of Khyber Pakhtunkhwa has established KP Oil and Gas Company Limited (KP OGCL) with a view to accelerate the oil and Gas exploration activities in the province and to meet the growing energy need of the country.
A high-level meeting chaired by Federal Minister for Finance, Senator Mohammad Ishaq Dar here on Monday reviewed progress of DPC-II (Development Policy Credit-II) on energy sector. The Minister was informed that major reform effort had been undertaken to complete benchmarks of DPC-II and that all key prior actions had also been completed.


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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln