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Economic Co-ordination Committee (ECC) of the Cabinet has allowed Inter State Gas Systems (ISGS), a subsidiary of Ministry of Petroleum and Natural Resources (MoP&NR), to award EPC contract of Gwadar-Nawabshah LNG terminal and pipeline project to China Petroleum Pipeline Bureau (CPP) without engaging in an open competitive bidding process.

Prime Minister Nawaz Sharif on Monday expressed his displeasure at the Energy Ministries for inordinate delay in energy sector projects and decided to hold another meeting of the committee during the current week. The Prime Minister was given an overview of the power projects planned to be completed by 2021 and briefed on short-, medium- and long-term power generation projects to be run on wind, solar, gas and hydel power.
Ten imported coal power projects of 6600 MW capacity proposed to be established at Gaddani (Balochistan) have hit serious obstacles with significant differences between the project sponsors and Private Power & Infrastructure Board (PPIB) on different matters related to the projects, sources close to Managing Director PPIB told Business Recorder.
Federal Minister for Finance Mohammad Ishaq Dar Sunday directed the Federal Board of Revenue (FBR) to prepare an assessment report on impact of reduction in petroleum prices. Chairing a meeting at the FBR headquarters, the finance minister directed the FBR officials to present an exact report on the relief provided to general public through reduction in petroleum products.
Prime Minister Nawaz Sharif on Saturday said the present government in Pakistan is pro-business and pro-investment friendly regime which would welcome the Chinese investment for addressing the energy issues. The Prime Minister was addressing Pakistan-China Energy Forum which was largely attended by over 50 prominent Chinese investors. The Prime Minister said that he was leading the government to pull the country out of the economic meltdown.
Prime Minister Nawaz Sharif was apprised on Saturday that Neelum-Jhelum hydropower project would be completed by 2016 as work on the transmission line is yet to start. While travelling from Beijing to Shanghai by high speed train along with his entourage, the Prime Minister held four meetings with various delegates and discussed different development and power projects.
Pakistan and China signed eight documents of co-operation in various areas of economy here Friday for furthering already strong economic and technical ties between two friendly countries. The first pact pertaining to an ambitious long term project approximately costing $18 billion that would include building around 200 kilomters tunnels was Pak-China Economic corridor.


Index Closing Chg%
Arrow DJIA 17,409.00 1.31
Arrow Nasdaq 4,683.41 0.98
Arrow S&P 2,017.30 0.95
Arrow FTSE 6,810.60 0.22
Arrow DAX 10,737.87 0.25
Arrow CAC-40 4,631.43 0.44
Arrow Nikkei 17,606.22 1.06
Arrow H.Seng 24,595.85 1.07
Arrow Sensex 29,681.77 0.41

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 25, 2015
Reserves $15.019 bln