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The federal government has reportedly decided to fund LNG-fired 3,600 MW power projects from Public Sector Development Programme (PSDP) at a revised cost of Rs 380 billion and representation from provinces. Official documents exclusively made available to Business Recorder reveal that Prime Minister Nawaz Sharif during Cabinet meeting held on February 23, 2015 expressed annoyance at the Ministry of Water and Power for changing the timeline and delay in completion of LNG-fired projects.

Prime Minister Nawaz Sharif chaired 10th meeting of the Cabinet Committee on Energy, here at the PM House on Tuesday. Chairman Private Power Infrastructure Board (PPIB) gave a presentation on Power Generation Policy 2015. He informed the Committee that previous power policies of 1994 and 2002 were restrictive and did not cater to the new fuels that are being added to the power generation system ie Coal and LNG.
The Federal Board of Revenue (FBR) has sought information from National Database and Registration Authority (Nadra) regarding persons who have declared themselves as businessmen/industrialists in CNICs forms submitted with NADRA. Sources told Business Recorder here on Tuesday that the FBR will register un-documented businessmen/industrialists on the basis of declarations with Nadra.
The International Monetary Fund (IMF) Executive Board is going to meet on March 27-28 to consider its staff level report on Sixth Review of the Extended Fund Facility (EFF), said Secretary Finance Dr Waqar Masood. Talking to reporters after the meeting of National Assembly's Standing Committee on Finance, Waqar said this would be the final step for release of next tranche of $518 million to Pakistan.
India has made a major breakthrough with Swiss tax authorities, who have agreed to provide information in respect of cases independently investigated by IT department whereas first round of talks have reportedly taken place between Pakistan and Swiss government on revision of Convention for the Avoidance of Double Taxation agreement.
The trade liberalisation process between the two nuclear states will remain on the backburner until progress is witnessed on other issues irrespective of the agenda of the Indian External Affairs Secretary while on a visit to Pakistan; well-informed sources told Business Recorder. On a couple of occasions the two nuclear rivals came close to signing a final document to liberalise trade but at the eleventh hour some events derailed the entire process.
The Senate Standing Committee on Finance on Tuesday unanimously approved the Securities Bill 2015 relating to the Securities and Exchange Commission of Pakistan (SECP) despite opposition by stock exchanges on some points. The committee meeting chaired by Senator Nasreen Jalil after hearing the viewpoint of stock exchanges noted that a consultative process between the SECP and stock exchanges has not taken place on the bill under consideration of the committee.
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Index Closing Chg%
Arrow DJIA 18,203.37 0.47
Arrow Nasdaq 4,979.90 0.56
Arrow S&P 2,107.78 0.45
Arrow FTSE 6,889.13 0.74
Arrow DAX 11,280.36 1.14
Arrow CAC-40 4,869.25 0.98
Arrow Nikkei 18,815.16 0.06
Arrow H.Seng 24,702.78 0.74
Arrow Sensex 29,593.73 0.46

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln