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Pakistan and Tajikistan on Friday agreed to start negotiation on Preferential Trade Agreement (PTA) that would pave way for a Free Trade Agreement (FTA) between the two countries. The agreement on starting negotiations was developed during a meeting between Federal Minister for Commerce Engineer Khurram Dastgir Khan and Tajikistan Minister of Foreign Affairs Sirodjidin Aslov here.

Prime Minister Nawaz Sharif has rejected the proposal of Oil and Gas Regulatory Authority (OGRA) to increase gas price for now, but a hike may not be put off for long, said Musadik Malik. Speaking at a news conference here on Friday, the spokesman of Prime Minister, Malik maintained that for the first time in the history of the country oil prices have been reduced twice in a span of two months.
Foreign Minister of Tajikistan Sirojidin Aslov met Prime Minister Nawaz Sharif Friday. The meeting was in continuation with the Prime Minister's June visit of Tajikistan. Talking to Aslov, the Prime Minister said Pakistan attaches great importance to timely completion of CASA-1000 project. Projects like CASA-1000 and TAPI gas pipeline could become a game changer in regional geopolitics and economic integration, he said.
The participating countries of Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline project have decided to complete the multi-billion dollar project by the end of 2018, it is learnt. Senior officials of the Petroleum Ministry who attended the four-nations meeting on the TAPI pipeline project which will carry 3.5 Billion Cubic Feet per Day (BCFD) of gas in Ashgabat (Turkmenistan) decided to start working on laying the gas pipeline by 2016.
A number of representations have been received from Pakistan Tax Bar Association, Pakistan Tax Advisors Association, FPCCI, various chambers of Commerce & Industry and other various professional/business/trade bodies requesting the extension in the last date of filing of returns for tax year 2014, which was already extended on the demand of the taxpayers more than once, first for salaried persons from 31-8-2014 to 30-09-2014, then for all taxpayers from 30-09-2014 to 31-10-2014 and then to 21-11-2014.
China's central bank on Friday unexpectedly cut benchmark interest rates for the first time in more than two years, as authorities seek to prop up flagging growth in the world's second-largest economy. The cut comes after a string of disappointing data showing that the Chinese economy - a key driver of global expansion - is struggling with stalling factory growth, soft exports and a weakening property market.
Fresh buying Friday lifted the Karachi Stock Exchange (KSE) index supported by cement and fertilizer sectors. Equities recovered 255.80 points or 0.82 percent to settle at 31,494.84 points after two days of bear-rule. According to analysts, a bullish activity was witnessed at KSE after the SECP confirmed settlement of KSL outstanding trades in ready and futures markets, easing investor concerns after suspension.


Index Closing Chg%
Arrow DJIA 17,810.06 0.51
Arrow Nasdaq 4,712.97 0.24
Arrow S&P 2,063.50 0.52
Arrow FTSE 6,750.76 1.08
Arrow DAX 9,732.55 2.62
Arrow CAC-40 4,347.23 2.67
Arrow Nikkei 17,357.51 0.33
Arrow H.Seng 23,437.12 0.37
Arrow Sensex 28,334.63 0.95

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