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The much-awaited government-to-government (G2G) Sale Purchase Agreement (SPA) between Pakistan and Qatar for the import of Liquefied Natural Gas (LNG) is likely to be signed during the first week of next month, said Federal Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi here on Saturday. The minister further said the 150,000 cubic meters (cbm) or 60,000 tons of commissioning cargo the Belgium-flagged FSRU ship, M/v Exquisite, brought to Engro's Elengy terminal Thursday was procured by the private sector, M/s Pak-Arab Fertilizer, at a Brent Index based price of $8 per Million British Thermal Unit (mbtu).

The government has decided to supply 100 mmcfd RLNG to 412 MW M/s Rousch Power, as allocation made to Nandipur power plant will take time to receive gas owing to technical modification of the plant, well-informed sources told Business Recorder.
The country has achieved the revised cotton target of 13.48 million bales set for the outgoing season (2014-15), but will fall short of the original target of 15.1 million bales. The government had set initial target of 15.1 million bales for the current season (2014-15), however later the target was revised three times to finally set it at 13.48 million bales due to multiple issues including water shortage, rains/floods, and shortage of certified seed. The government has set cotton production target for the next season (2015-16) at 15.49 million bales.
The Federal Board of Revenue (FBR) has clarified that income tax at the rate of 1 percent under sub-section (1) of section 154 of the Income Tax Ordinance 2001 will be deducted on the foreign exchange proceeds realised in Pakistan.
The World Trade Organisation (WTO) has said the prevalence of Statutory Regulatory Orders (SROs) - a discretionary measure for providing tax and tariff exemption to vested interests - significantly drains out fiscal revenue collection of the Federal Board of Revenue (FBR). This has been mentioned in the latest report, prepared for the fourth Trade Policy Review of Pakistan-2015 by the WTO Secretariat.
The federation filed a Civil Miscellaneous Application (CMA) in the Supreme Court on Saturday to substantiate its review petition against the apex court's verdict that had declared Gas Infrastructure Development Cess (GIDC) as a fee.
A special Pakistan International Airlines (PIA) flight will leave for Hudaidah, a port city of Yemen, today (Sunday) to bring back the stranded Pakistanis from the war-torn country. According to Foreign Office spokesperson Tasnim Aslam , following the directions of Prime Minister Nawaz Sharif, two PIA planes are on stand-by and Pakistan Embassy in Sana'a is planning to move 500 people in a convoy of 12 buses to Hudaidah Saturday, where the airport is functional.


Index Closing Chg%
Arrow DJIA 17,678.23 0.23
Arrow Nasdaq 4,863.36 0.27
Arrow S&P 2,056.15 0.24
Arrow FTSE 6,895.33 1.37
Arrow DAX 11,843.66 0.18
Arrow CAC-40 5,006.35 0.29
Arrow Nikkei 19,471.12 1.39
Arrow H.Seng 24,497.08 0.13
Arrow Sensex 27,457.58 2.33

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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyMarch 13, 2015
Reserves $16.273 bln