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The government will determine floor price of the planned off-load of 7.5 percent government's shares in Oil and Gas Development Company (OGDCL) on November 5, 2014. This was stated by State Minister for the Privatisation Commission (PC) Mohammad Zubair at a press conference here on Thursday. Mohammad Rafi Managing Director (MD) OGDCL was also present.

The Economic Co-ordination Committee (ECC) of the Cabinet decided to approve government guarantee of Rs 12 billion for Pakistan International Airlines (PIA) and extended the grace period by another two years for syndicated terms finance facility of Rs 136.45 billion for Power Holding (Pvt) Ltd.
Pakistan Tehreek-e-Insaf (PTI) on Thursday announced that it would strongly resist the proposed privatisation of state-owned entities, including Pakistan Steel Mills (PSM) and Oil and Gas Development Company Ltd (OGDCL) at throwaway prices. Speaking at a news conference along with party's leader Ghulam Sawar Khan, PTI's senior leader Asad Omar lashed out at the government for its "flawed privatisation policy," saying that PTI will strongly resist the sell-off of profitable institutions at throwaway prices to meet the fiscal deficit.
Twenty-nine people were killed and thousands of civilians forced to flee Pakistan's north-western region of Khyber, the military said on Thursday, as it stepped up a two-week-old offensive against Taliban militants in the area. Twenty-one suspected militants and eight soldiers were killed on Wednesday, the military said in a statement, but gave no figure for civilian casualties.
A US drone strike killed at least seven militants in restive tribal belt on Thursday, including an important commander of the feared Haqqani network, security officials said. The attack happened early Thursday in Nargas village of Birmil area, some 30 kilometres west of Wana, the main town of South Waziristan tribal region near the Afghan border which is considered a stronghold of Taliban militants.
There is no threat to coastal areas of Pakistan including Karachi, Thatta and Badin as a result of gradually weakening of Nilofar Cyclone, says Ikhlaaq Jamil, Deputy Director forecasting weather central main analysis centre, Karachi on Thursday. Talking to APP, Ikhlaaq said Nilofar would weaken much more as it reaches around 250 kilometres off Karachi and crosses it at night on Friday.
Speaker National Assembly Sardar Ayaz Sadiq has written a letter to Election Commission of Pakistan (ECP) about the issue of resignations of Pakistan Tehreek-e-Insaf (PTI) lawmakers. According to Article-224 (1) of the Constitution, "A general election to the National Assembly or a Provincial Assembly shall be held within a period of sixty days immediately following the day on which the day on which the term of the Assembly is due to expire, unless the Assembly has been sooner dissolved, and the results of the election shall be declared not later than fourteen days before that day."


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln