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China has raised serious concerns over the issue of tax, electricity price and security with Pakistan regarding the implementation process of the China-Pakistan Economic Corridor (CPEC) energy projects, it is learnt. According to sources, China has expressed serious reservations over the hurdles and delaying tactics purportedly being employed by the Federal Board of Revenue (FBR) in extending exemption from sales tax and withholding tax.

Finance Minister, Senator Ishaq Dar has constituted an inter-ministerial committee to suggest a mode of funding for the construction of road network for New Islamabad International Airport main link, official sources told Business Recorder. On November 14, 2015 Planning, Development and Reform Division informed the Executive Committee of National Economic Council (ECNEC) that the project envisaged construction of a 26 km-long road network to facilitate airport traffic to New Islamabad International Airport from Islamabad, Rawalpindi and existing motorways M2 & M1.
The New Delhi government issued a notice to 99 stall owners from Pakistan and Bangladesh, along with a Rs 50,000 penalty, on the last day of the India International Trade Fair, according to Indian Express. The reason put forth by the department of trade and taxes of the government was that the mandatory casual number, required to participate in the fair, was not obtained by the stall owners.
Iran is seeking $25 billion in investments from 50 deals involving international oil and gas companies, foreign executives were told Saturday in Tehran as the government outlined new contractual terms. Oil Minister Bijan Zanganeh opened a two-day conference in the capital attended by BP, Shell, Total of France, ENI of Italy, Repsol of Spain, OMV from Austria and other majors.
Privatisation Commission has initiated criminal proceedings against the representative of Cargill Holding Limited (CHL) after registration of a First Information Report (FIR). Syed Zain Gillani, Director Administration of PC, has requested the police to take a strict legal action against Syed Sabur Rehman, Advisor/ Director of M/S CHL, while lodging an instant complaint against him, for commission of an offence cognizable under the Pakistan Penal Code and other relevant provisions of law.
Following a decline in imports, the services trade deficit fell sharply by 61 percent during the first four months of this fiscal year. Economists said that the sliding oil prices in the world market reduced Pakistan's transport and travel import bills, resulting in a massive fall in overall imports. According to State Bank of Pakistan (SBP), services trade deficit stood at $364 million in July-October of this fiscal year (FY16) compared to $947 million in the same period of last fiscal year (FY15), depicting a decline of 61 percent or $583 million.
The import duty slabs may be raised by one percent - from 2 to 3 percent, 5 to 6 percent, 10 to 11 percent, 15 to 16 percent and 20 to 21 percent from December 1, 2015. Sources told Business Recorder here on Saturday that one of the proposals under consideration to generate additional revenue is to increase customs duty slabs under Pakistan Customs Tariff by one percent. In case the proposal is implemented, all customs duty slabs would be increased by one percent raising the existing slabs to 3 percent, 6 percent, 11 percent, 16 percent and 21 percent.
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Index Closing Chg%
Arrow DJIA 17,798.49 0.08
Arrow Nasdaq 5,127.52 0.22
Arrow S&P 2,090.11 0.06
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Arrow Sensex 26,128.20 0.65

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Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.197 bln
Exports $1.729 bln
Imports $3.926 bln
WeeklyNovember 23, 2015
Reserves $19.713 bln