SUNRISE CAPITAL (PVT) LTD | 14 November 2016 | TAKE OFF

CPEC dreams come true as Gwadar port goes operational:

Prime Minister Nawaz Sharif at a grand opening ceremony at the Gwadar port on Sunday marked the operationalisation and opening of trade activities at the port, a key project under the China-Pakistan Economic Corridor (CPEC).PM Nawaz marks opening of trade at Gwadar port. ─APPPM Nawaz while addressing a ceremony marking the departure of the first major trade cargo from Gwadar Port emphasised Pakistan's commitment to China's One Belt-One Road initiative."We will leave no stone unturned in ensuring the CPEC and all the projects under its umbrella are materialised within the given time," he said."This idea was conceived only two years ago, and this day marks the breaking of the dawn of a new era."

Oil steady near multi-month lows on OPEC output record, U.S. rig count:

Oil prices were little changed on Monday near multi-month lows, dragged down by worries about oversupply as OPEC saw record output last month and as the U.S. rig count rose again.London Brent crude for January delivery was trading down 3 cents at $44.72 a barrel by 0336 GMT, after settling down $1.09 on Friday. The benchmark on Friday hit its lowest since Aug. 11 at $44.19.NYMEX crude for December delivery was down 8 cents at $43.33 a barrel. The contract closed down $1.25 on Friday after dropping as low as $43.03, its weakest since Sept. 20. Oil has been under pressure since before the Organization of the Petroleum Exporting Countries (OPEC) said on Friday that its output rose to a record 33.64 million barrels per day (bpd) in October, up 240,000 bpd from the previous month.

Orga seeks govt's advice regarding 36pc hike in gas prices during 2016-17:

The Oil and Gas Regulatory Authority (Ogra) has asked the government to issue advice regarding 36 per cent gas price hike for the current fiscal year 2016-17,An Ogra official informed DawnNews that Ogra has written a letter to the prime minister, and ministries of finance and petroleum to seek necessary advice over its decision of 36% increase in the gas price for the current fiscal year 2016-17.He said Ogra, in the light of its ordinance, is bound to issue gas price notification till November 15 even if the government does not issue the advice.The source further said that the regulator itself cannot stop gas price hike on the verbal orders of some ruling elites.“Government must issue final advice to Ogra regarding said gas price hike otherwise Ogra will have to use legal responsibility given under Ogra Ordinance,” the official said.

WB likely to finance $375m Trans-Khyber Pass project:

The World Bank is actively considering financing of the ‘Trans-Khyber Pass’ project which will serve as gateway for Pakistan’s trade to Central Asia’ and give further impetus to growing Pak-Afghan trade.The Peshawar-Torkham expressway as a gateway to Central Asia will leverage the Afghan-Pakistan Transit Trade Agreement (APTTA) signed in 2010, and will facilitate access to potential new regional markets.In this regard, Pakistan has formally submitted the project to the World Bank for possible financing while the bank is seriously considering the project. It is expected that the World Bank’s soft window, the International Development Association (IDA) will provide $375 million for the project, according to informed sources.

Pakistan’s external debt likely to swell to $110b in four years:

Pakistan’s external debt is projected to grow to a whopping $110 billion within four years and it will need over $22 billion a year just to meet external payment requirements, posing a serious threat to the country’s solvency.By that time, Pakistan will again be back to the International Monetary Fund (IMF) to avoid default on international payments as it did in 2013, according to independent projections revealed at the National Debt Conference on Saturday.

IP pipeline: Ministry seeks to hold fresh price talks with Iran:

The Ministry of Petroleum and Natural Resources is seeking the green light from the Economic Coordination Committee (ECC) for resuming stalled negotiations with Iran on laying a gas pipeline between the two countries.The ministry will look for a further reduction in the gas import price and extension in the project completion date as international sanctions on Iran have been lifted.“The Finance Division, Ministry of Foreign Affairs and Ministry of Planning have already endorsed the proposal of kicking off negotiations on the Iran-Pakistan (IP) gas pipeline in order to review the gas price,” said a senior government official.