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Business and Economy: Pakistan


The total liquid foreign exchange reserves held by the country posted an increase of $35 million during the last week. According to State Bank of Pakistan' (SBP) weekly report issued on Thursday, the country's total liquid foreign reserves stood at $13.436 billion as on October 10, 2014 when compared with $13.401 billion as on October 3, 2014.

The economic managers of Pakistan and Turkey on Thursday agreed to take necessary steps to further solidify commercial relations. Various proposals to this effect were discussed and agreed during the 15th session of Turkey-Pakistan Joint Economic Commission (JEC) which concluded here on Thursday.
The Federal government has so far released Rs 62.3 billion for various development projects under Public Sector Development Programme (PSDP) for financial year 2014-15, it is learnt. According to the latest data of Ministry of Planning, Development and Reforms, a total of Rs 525 billion has been allocated in Budget-2014-15 for various development projects under the PSDP.
In collaboration with the Government of Australia and the European Union, the United Nations Development Programme (UNDP) organised a three-day conference on the role of technology in strengthening democracy. The debate centered on the opportunities to leverage technological developments to help advance the quality of democratic process and citizen engagement, and the potential for technology to exacerbate the marginalization of constituencies.
Pakistan Industrial and Traders Associations Front (PIAF) on Thursday urged the government to prepare 10-year economic plan for better economic progress of the country. The PIAF office-bearers, Chairman Malik Tahir Javaid, Senior Vice Chairman Khamis Saeed Butt and Vice Chairman Amjad Ali Jawa in their joint statement said that a national economic plan is a prerequisite to set the direction of the economy.
The leadership of Businessmen Group and Karachi Chamber of Commerce and Industry (KCCI) has strongly condemned the recent murder of Muhammad Iqbal, a businessman of Karachi Electronic Dealers Association (KEDA).
Businessmen of Khyber Pakhtunkhwa slammed the issuance of inflated electricity bills and demanded the government to immediate return a huge volume of over-billing to power consumers or make adjustment in utilities bills. The government tactically issued inflated bills of Rs 70billion.
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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln