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Economists have urged the government to reduce the rising public debt as it will become a major source of macroeconomic instability, low growth, unemployment and poverty in the country. The government should scale down public debt, improve its composition, condition debt contracting with returns and manage it professionally. This was the gist of the 'National Debt Conference' jointly organised by PRIME and Business Recorder in collaboration with Friedrich Naumann Foundation.

Adviser to Finance Ministry, Rana Asad Amin has said that a fully functional debt management cell would be made operational by next month to manage and reduce the country's debt-to-GDP ratio. Speaking as chief guest at the concluding session of National Debt Conference jointly organised by PRIME and Business Recorder in collaboration with Friedrich Nauman Foundation, Rana said the government plans to reduce public debt to less than 55 percent of GDP by June 2017 and move towards a sustainable profile.
As many as 450 foreign and local investors have confirmed their participation to the Board of Investment (BoI) for the two-day International Investment Conference scheduled for Monday-Tuesday (October 27-28). Federal government has arranged a two-day International Investment Conference with the objective of highlighting the available opportunities for investment in various sectors of the country's economy. The conference is being organised by BoI.
Adviser to the Prime Minister on Foreign Affairs and National Security Sartaj Aziz has said that Pakistan was fully responding to the Indian aggression along the Line of Control (LoC) and the Working Boundary (WB). He was talking to journalists after inquiring about the health of JUI-F chief Maulana Fazlur Rehman. Sartaj Aziz said Pakistan's desire for peace should not be taken as its weakness. He said: "We are making efforts at the international level to make the UN military observers mission more active."
India's Hindu nationalist government on Saturday cleared long-delayed projects worth $13.1 billion to modernise the nation's ageing Soviet-era military hardware and boost its domestic defence industry, a report said. The move underscores the desire of the government led by Prime Minister Narendra Modi to update the country's military as it looks to defend itself, especially after recent deadly border clashes with Pakistan and a tense stand-off with Chinese troops.
M/s Engro is considering entering into Liquefied Natural Gas (LNG) business on commercial basis aimed at supplying imported gas to the private sector. This was the crux of a press briefing given by Chief Executive Officer (CEO), Engro Elengy Terminal Private Limited (ETPL), Sheikh Imran ul Haq on the project site at Port Qasim. Engro's $145 million LNG terminal is expected to be commissioned by January 26, 2015 instead of March 2015 - a timeframe agreed with the government.
Minister for Planning and Development Ahsan Iqbal has said the Liquefied Natural Gas (LNG) terminal will be completed by February next year. He was speaking at a meeting of Pakistan Engineering Council's (PEC) energy sector's think tank held here on Saturday. The minister said that the LNG terminal would help a lot in overcoming energy crisis in the country. Ahsan Iqbal said engineers have been playing a vital role in overcoming energy crisis in the country.
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Foreign Debt $61.805bn
Per Cap Income $1,386
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WeeklyOctober 23, 2014
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