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Business and Economy: Pakistan


Pakistan has received $734.5 million on the account of Coalition Support Fund (CSF) from the United States in the current fiscal year, and the Obama administration has requested Congress for authorisation of an additional $1 billion for FY15, according to officials at the Ministry of Finance and the US Embassy here.

Pakistan and Turkmenistan have agreed to enhance bilateral co-operation in the field of petroleum, trade, infrastructure and industries. Consensus to this effect came during a meeting between Minister of State for Petroleum and Natural Resources Jam Kamal and the President of Turkmenistan in Ashgabat.
Foundry is the second largest sector of our local industry after textile and needs immediate steps for its upgradation to bring it at par with international standards, said Rizwan Ashraf, president of Faisalabad Chamber of Commerce and Industry (FCCI).
Government of Pakistan has revoked the mandatory condition of submitting Jawaznama, a license issued by Afghan government to its nationals for doing business under Afghan Transit Trade (ATT), it was learnt here on Saturday. According to sources, this facility provided by the government was made as a confidence-building measure (CBM) with Afghanistan.
The Tourism Corporation Khyber Pakhtunkhwa (TCKP) organized a first ever "Creative Meet up" of Khyber Pakhtunkhwa at a local hotel. The conference was chaired by the Advisor to Chief Minister Khyber Pakhtunkhwa on Sports, Tourism, Archaeology, Museums and Youth Affairs Amjad Afridi along with the Secretary Sports, Tourism, Archaeology, Museums and Youth Affairs Department Aftab Akbar Durrani, Managing Director TCKP Mushtaq Ahmad Khan and Advisor Tourism TCKP Dr Ali Jan, according to press release issued here on Sunday.
London immigration officials on Sunday imposed a fine of 2,000 pounds on Pakistan International Airlines (PIA) over violation of rules. The fine was imposed as PIA flight PK-785 was carrying an air hostess bearing an expired passport. The London-bound flight took off from Islamabad.
"The federal government during the last financial year 2012-13 transferred Rs 321.568 billion against the budget estimates of Rs 381.910 billion which show a shortfall of Rs 60.342 billion. As a result, Sindh government had to face financial problems particularly in executing its development works." This was disclosed in a presentation given to Sindh Chief Minister Syed Qaim Ali Shah in the cabinet meeting held under his chairmanship here at the CM House on Saturday.


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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