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Pakistan for trade transit agreement with Turkmenistan  ISLAMABAD: Pakistan has proposed to Turkmenistan to sign a transit trade agreement to establish strong trade linkages with the Central Asian countries which may be extended further beyond to Russia. The Ministry of Commerce will forward the draft of the proposed transit trade agreement to the Turkmen officials within the next few days for further deliberations. This was discussed in a meeting by the Federal Minister for Commerce Engr Khurram Dastgir Khan with the Ambassador of Turkmenistan in Pakistan Aladjan Movlamov, who called on him here Tuesday, said a press release. The transit trade agreement with Turkmenistan will establish another trade corridor into the Central Asian states where goods will be traded with greater ease and in larger quantity. In the beginning of last month, first meeting of Pakistan Afghanistan Tajikistan Trilateral Transit Trade Agreement (PATTTTA) was held which proved very fruitful. The three sides will meet again in February ...

SBP sees transformation of cash processing business to automation in next five years ISLAMABAD: Acting Governor State Bank of Pakistan Saeed Ahmad has said that the SBP sees total transformation of cash processing business from manual to automation in next five years and thus would like to see commercial banks aligning their plans with State Bank in this direction."Without the joint action the desired results to improve the quality of currency notes in circulation will not be achieved," he said.He was addressing participants of Conference on Currency Management: ...
Foreign reserves decreased by US$ 82 million KARACHI: The total foreign reserves held by the country stood at US$ 15,063.9 million on January 23, 2015, said a press release of State Bank of Pakistan (SBP) here on Thursday.The break-up of the foreign reserves position is as under:(1) Foreign reserves held by the SBP US$ 10,248.7 million.(2) Net foreign reserves held by banks US$ 4,815.2 million.(3) Total liquid foreign reserves US$ 15,063.9 million.During the week ending 23 January 2015, SBP's liquid FX reserves ...
SBP to issue Rs 20 commemorative coin on Jan 31 ISLAMABAD: The State Bank of Pakistan will issue Rs 20 commemorative coin on January 31 to mark "Pakistan-China Year of Friendly Exchange 2015", in pursuance of the Federal Government Notification dated January 8, 2015.The coin weighs 10 grams with 75% copper and 25% nickel. Its shape is round with serration on the edge and a diameter of 27.5mm, said an Ministry of Finance press release issued here Thursday.The waxing crescent moon and a five pointed ...
SBP revises Microfinance Credit Guarantee Facility guidelines ISLAMABAD: The State Bank of Pakistan (SBP) has issued revised Microfinance Credit Guarantee Facility (MCGF) Guidelines offering higher risk coverage of up to 60% to Commercial Banks/ Development Finance Institutions (DFIs) for lending to smaller Microfinance Banks (MFBs)/ Microfinance institutions (MFIs).The facility is expected to graduate smaller MFBs/ MFIs to avail credit lines from commercial banks/ DFIs for onward lending to microfinance clients, says a statement issued here Wednesday.It may be recalled that the Microfinance ...
CDA earns Rs485mn during fiscal year 2014 ISLAMABAD: Capital Development Authority's (CDA) Directorate of Municipal Administration has earned Rs485 million revenues during the fiscal year 2014 which is almost double as compare to previous year's corresponding period.It is expected that CDA would achieve a target of Rs600 million at the end of the current financial year.Talking to APP, Director General of DMA Hamza Shafqaat said on Wednesday that the authority has generated this revenue through different modes like Melody Food Park, Munal ...
SBP issues guiding principles on fairness of service charges KARACHI: State Bank of Pakistan (SBP) has issued guiding principles on fairness of service charges levied by banks.The instructions set forth nine principles which will apply on service charges effective from 1st July, 2015, said SBP statement here on Tuesday. It is imperative that fairness and transparency in determining charges for various products and services provided by the banks will enhance confidence of customers in the banking industry.State Bank, in guiding principles, clarifies that the ...


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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyMarch 13, 2015
Reserves $16.273 bln