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Minister for Petroleum and Natural Resour-ces Shahid Khaqan Abbasi appeared visibly irritated at the failure of the Economic Co-ordination Committee (ECC) of the Cabinet in its meeting on November 25, 2015 to fix the price of imported Re-gasified Natural Gas (RLNG), well informed sources told Business Recorder. The Minister told Business Recorder that the sale purchase agreement will be considered in the ECC meeting on Friday (today).

The Asian Development Bank (ADB) and the government on Thursday signed agreements for combined loan assistance of nearly $800 million to boost Pakistan's power sector efficiency and reforms. Tariq Bajwa, Secretary Economic Affairs Division, and Werner E Liepach, ADB's Country Director for Pakistan signed an agreement for a $400 million loan for tranche 1 of the Multi-tranche Second Power Distribution Enhancement Investment Program.
The government and other stakeholders have failed to reach any decision on the issue of outstanding dues to the tune Rs 136 billion on account of Gas Infrastructure Development Cess (GIDC) against various gas consumers. According to senior officials in the Ministry of Petroleum and Natural Resources, the GIDC was imposed on different gas consumers in 2012 and since then an amount of Rs 136 billion has been collected from gas consumers, while an amount of Rs 136 billion was still outstanding against them.
A high-level meeting presided over by the Secretary Water and Power, Younas Dagha on Thursday remained inconclusive and the much-awaited revised Power Purchase Agreement (PPA) and new Gas Supply Agreement (GSA) with K-Electric was not approved, well informed sources KE told Business Recorder. The representative of Sui Southern Gas Company Limited (SSGCL) informed the meeting that they are still negotiating the Gas Supply Agreement (GSA) whereas the issue of PPA did not come under discussion.
Pakistan on Thursday opposed the Indian move to get an exclusive membership of Nuclear Supplier Group (NSG) on account of political and commercial consideration, saying it will affect the credibility of non-proliferation regime as well as regional peace. Foreign Office spokesperson Qazi Khalilullah told his weekly press briefing that NSG should follow an objective, equitable and non-discriminatory approach for admitting new members.
Prime Minister Nawaz Sharif gave the green signal on Thursday to Pakistan Cricket Board (PCB) to play the Pakistan, India cricket series in Sri Lanka. "Given the current security situation, PCB should hold short series with India at a third location," a PM House statement said quoting the premier. The PM House wrote a letter to the board granting them permission for the series and directing them to carefully view the security situation as well.
The government is planning to impose regulatory duty on the import of vehicles including old and used cars and increase rate of the import duty slabs under Pakistan Customs Tariff from December 1, 2015. It is learnt that the meeting of the Economic Co-ordination Committee (ECC) of the Cabinet to be held on Friday (today) may not take up agenda of additional revenue generation through imposition of the RD. A special ECC meeting is likely to be convened later for approval of the RD on luxury items.


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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