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Finance Minister Ishaq Dar has not reportedly agreed with the unanimous decision of the Economic Advisory Council (EAC) members that the government must get out of the business of support price and subsidies in agriculture sector. Sources in the Finance Ministry quoted Dr Ashfaq H Khan as arguing that the subsidies and support price of wheat is benefiting the big agriculturists and not the small farmers.

The government has set 15.49 million bales cotton target for the next season (2015-16) against the revised target of 13.48 million bales for the outgoing season (2014-15), it is learnt. 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 at 13.48 million bales due to multiple issues including water shortage, rains/floods, and shortage of certified seed.
No relevant government ministry/department could provide a route map for the multi-billion dollar China-Pakistan Economic Corridor (CPEC) to Business Recorder after repeated requests. Senior officials of the Ministry of Planning, Development and Reforms, when contacted, insisted that senior Chinese officials had urged the government to utilise existing infrastructure to fuel business activities along the CPEC route.
Finance Minister Ishaq Dar Friday chaired an inter-ministerial meeting on the implementation status of the decisions of the Pak-Afghanistan JEC meeting held on November 13, 2014. The minister was informed that among the most significant projects, there was speedy headway being made with regard to CASA-1000. Issues such as energy pricing, payment guarantees, etc, were finalised in working group meetings held in November-December 2014.
Prime Minister Nawaz Sharif on Thursday directed fast-track implementation of development projects in Balochistan and announced an immediate grant of five billion rupees for Quetta in the first phase. The Prime Minister made the announcement during a presentation given to him by Chief Secretary Balochistan on development projects here yesterday afternoon. The Prime Minister gave, in principle, approval to the construction of Sibbi-Hernai railway track.
Senate Standing Committee on Water and Power on Thursday annulled the contract of 106 MW Golen Gol transmission line project worth Rs 3.44 billion with only three members present in the meeting, including Chairman, out of a 14-member committee and without advice from Law Ministry and Public Procurement Regulatory Authority (PPRA). Chairman Standing Committee, Zahid Khan who is retiring in two weeks and Senator Nisar Mohmand hailing from PML (N) were on the same page with respect to annulment of contract whereas Senator Khalida Parveen remained silent.
The sub-committee-II of the Public Account Committee on Wednesday directed the ministry of petroleum and natural resources to take an appropriate action on non-realisation of interest for late payment of gas development surcharge, ie, Rs 217.210 million. While examining the audit report 2002-03 of ministry of petroleum, convenor committee Syed Naved Qamar said the provinces have the share in the sale of gas and the federal government is bound to pay it.
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Index Closing Chg%
Arrow DJIA 18,214.42 0.06
Arrow Nasdaq 4,987.89 0.42
Arrow S&P 2,110.74 0.15
Arrow FTSE 6,949.73 0.21
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Arrow Sensex 28,746.65 0.90

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln