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Finance Minister Ishaq Dar said on Friday that the government has achieved internationally acceptable level of four per cent fiscal deficit during the last two years and its focus now would be on growth and employment generation in the remaining period. The Minister was speaking at the launch of information and communication technology (ICT) initiative for girls empowerment organised by ministry of information technology in collaboration of Bait-ul mal, Universal Services Fund and Microsoft.

Privatisation Commission (PC) will re-advertise for the Expression of Interest (EoI) of the Heavy Electrical Complex (HEC) after six months in pursuance of the Islamabad High Court (IHC) directives. The IHC on Friday issued directives in response to petition filed by Carroll Holding Limited (CHL) challenging the process of Privatisation of the HEC.
The government has been obtaining loan from the International Monetary Fund (IMF) to only strengthen the country's foreign exchange reserves and the amount was not being used for budgetary support. Parliamentary Secretary for Finance Rana Afzal Khan informed the National Assembly on Friday during the Question-Hour. The government is taking loan within limit, he said, adding that under Fiscal Responsibilities and Debt Limitations Act loans cannot be taken more than 60 percent of the GDP.
Finance Minister Ishaq Dar has turned down the proposal of Ministry of Water and Power with respect to tax exemption for facilitating successful execution of financing facility of Rs 100 billion for Neelum Jhelum Hydropower Project (NJHP). Sources told Business Recorder that Ministry of Water submitted a proposal to the Economic Co-ordination Committee (ECC) of the Cabinet dated November, 25 2015 for issuance of a Sukuk to raise Rs 100 billion to bridge a shortfall in local financing for NJHP.
The Special Court trying former army chief and President Pervez Musharraf for allegedly subverting the Constitution in 2007 on Friday issued directives to Federal Investigation Agency (FIA) to re-investigate the matter. Announcing its order at 4 pm, which it reserved during morning's proceedings, the Special Court of three-member bench led by Justice Faisal Arab and comprising Justice Tahira Safdar and Justice Yawar Ali tasked the FIA to complete its investigation in a month.
Pakistan State Oil(PSO) and Qatargas have agreed to revise the price of Liquefied Natural Gas(LNG) after ten years and, in case of disagreement between the parties, the contract will be annulled, sources close to Secretary Petroleum and Natural Resources told Business Recorder. The Economic Co-ordination Committee (ECC) of the Cabinet is expected to approve $16 billion deal (Sale Purchase Agreement (SPA) between PSO and Qatargas on Monday.
United Arab Emirates' Dragon Oil is in talks with Turkmenistan on its potential involvement in the Turkmenistan-Afghanistan-Pakistan-India (TAPI) natural gas pipeline project, the company said on Friday. Ashgabat plans to begin construction of the $10 billion, 1,735-kilometre (1,084-mile) pipeline next month in order to diversify exports away from China and Russia. It remains unclear how the project will be financed.
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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