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With petroleum imports tapering off one would have thought that the import bill would also follow suit. But that has not been the case. According to Pakistan Bureau of Statistics (PBS), imports were in fact up about 16 percent in the four months ending October 2014 as huge increases in imports under food group, machinery group and agri & other chemicals group offset the impact of tamed fuel imports.
The latest export numbers provide a sigh of relief. During October 2014, aggregate textile exports registered a growth of 6.51 percent on year-on-year basis. Here, the growth in value added segment deserves some brownie points.
The value of exports that passed through customs last month stood at $1.9 billion, a gain of 5 percent year-on-year. But that nominal increase wasn able to offset the decline in preceding months, owing to which the four month export numbers were still down about 6.8 percent.
While the independent power producers might be facing tough times in servicing its loans owing to liquidity crunch caused by rising circular debt, the profitability of the power companies soared in the first three months of FY15.
Its all about the calories: The rich find it hard to burn them; the poor find it hard to earn them. A rich person is capable to reject fancy food that doesn look good, but a poor chap could go for day(s) without a loaf of bread.
The dip in commodity prices (read oil) is yet to be seen easing the balance of payment (BoP) slippages. Current account deficit widened to $1.8 billion (1.8% of GDP) in Jul-Oct as compared to $1.4 billion (1.7% of GDP) in the corresponding period last year. The gap in October ($347 mn) is considerably higher than what it was ($79 mn) in the previous month, however, barring CSF export receipts in September, the picture has not changed much.
It has been exactly six months since the license award for next-generation telecom services took place in Islamabad. Already, some operators are claiming reaching over one million 3G subscribers. Information made available shows that the four 3G operators have extended their coverage footprint to a number of major cities - the first port of call in any high-end service or product rollout.


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Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln