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Business and Economy: Pakistan


First Consul General of China in Lahore Yu Boren accompanied by Consul, Zhang Biao and Consular Attaché, Zhai Yinglin called on Chairman Punjab Board of Investment and Trade (PBIT) Abdul Basit on Thursday. The purpose of the visit was to extend appreciation for Punjab Board of Investment and Trade's tireless efforts to facilitate Chinese businessmen and to brainstorm the way forward for establishing long term cooperation with PBIT to build a platform for facilitating the Chinese investment in Punjab.

A German delegation visited Sindh Board of Investment (SBI) to discuss business expansion plan. A statement on Thursday said that the delegation was of M/s C. Melchers GMBH and Company KG to discuss their long term business expansion plan in Pakistan. The meeting was co-chaired by Chairman SBI, Asif A. Brohi, and Director General, SBI, Iftikhar Ali Shallwani.
Sindh Finance Minister Syed Murad Ali Shah has urged the American Business Council (ABC) to share recommendations to ease hardships of existing taxpayers and assured that ABC input would be used in the formulation of provincial budget FY16-17. Sindh Finance Minister Syed Murad Ali Shah and Chairman Sindh Revenue Board (SRB) Tashfeen Khalid Niaz were invited by ABC, the largest single country investor group in Pakistan, to its quarterly CEO roundtable meeting to candidly discuss the challenges and opportunities faced by their companies.
The country's total liquid foreign exchange reserves increased by $115 million during last week. According to State Bank of Pakistan (SBP) weekly report issued on Thursday, Pakistan's total liquid forex reserves stood at $19.828 billion as on November 20, 2015 compared to $19.713 billion a week earlier. During the week under review, SBP's liquid forex reserves surged by $88 million to $14.677 billion compared to $14.589 billion in the previous week. Similarly, reserves held by banks rose by $27 million to $5.152 billion at the end of last week.
Federal Commerce Minister Khurram Dastagir Khan will open a three-day 12th South Asian Association for Regional Cooperation trade fair and the ninth WEXNET. Both events will be held in December in Lahore. Dastagir and SAARC Secretariat Secretary General Arjun Thapa, who is from Nepal, will be the chief guests. Trade Development Authority of Pakistan (TDAP) spokesman said on Thursday that this year TDAP had decided to combine two mega events, 12th SAARC trade fair and the ninth WEXNET, under one floor at Lahore Expo Centre.
Murat M. Onart, Consul General of Turkey in Karachi, while underscoring the need for having a Free Trade Agreement (FTA) between Pakistan and Turkey, stated that Pakistan was likely to benefit and it will gain more from the FTA between the two countries. Exchanging views during his visit to Karachi Chamber of Commerce and Industry (KCCI), Turkish CG also stressed the need for exchanging more trade delegations between the two countries with a view to further improve the existing trade ties between the two brotherly countries.
Speakers at the 9th Annual Assembly of Pakistan Microfinance Forum have urged the government for the uplift of the micro and small enterprises as it offers a long-term solution to meet national crises, besides alleviating poverty among the large rural and poverty-stricken segments of the country. They stated this while addressing the 9th annual assembly of Pakistan Microfinance Forum with the theme of "Time to move forward from Regulations to Actions" on Thursday.
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Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.197 bln
Exports $1.729 bln
Imports $3.926 bln
WeeklyNovember 23, 2015
Reserves $19.713 bln