Law and finance ministries say the demand is illegal and unjustified.

Rebasing exercise adds Rs557 billion to total size of economy; share of agriculture and services in GDP increases.

Move came after SC cancelled previous chairman’s appointment.

Prime minister forwards his own recommendations to finance ministry.

Says the bank is ignoring critical areas of energy, civil service reforms.

Facility is expected to be used to pay back previous loans of the donor institution.

Meeting was called to consider projects worth Rs16b for approval.

Country reaches close to full-year deficit target in nine months.

FBR will collect Rs20b by withdrawing the tax adjustment facility.

Targeted at lower deficit and inflation, these policies restrict development as well.