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FBR clarifies news about under-invoicing in imports from China  ISLAMABAD: The Federal Board of Revenue (FBR) on Tuesday clarified a news item appeared in a section of press regarding difference in China's figures of export to Pakistan and Pakistan's figures of import from China. Additional Secretary Revenue Division Shahid Rahim Sheikh, in a statement, said that the reported figures of China's exports to Pakistan worth US $12 billion and Pakistan's imports of US $4 billion and the attribution of the difference between the figures to under invoicing in the imports from China were incorrect. He said that as per official trade figures of both the countries, available on the website of International Trade Centre (ITC) (, the value of China's exports to Pakistan during 2011 was US $ 8.4 billion while Pakistan's imports were US $ 6.4 billion. "The discrepancy was thus of only $ 2 billion and not $8 billion as reported in different trade meetings and a section of press", ...

Marble export increasing by 25 pc annually  ISLAMABAD: Chief Executive Officer of Pakistan Stone Development Company (PASDEC) Ihsanullah Khan said that by the efforts of All Pakistan Marble Industries Association (APMIA) and PASDEC the marble export quantum is increasing at 35 per cent annually. He hoped that $ 500 million export target will be achieved in near future. Pakistan is blessed with huge reserves of natural stone like marble and granite in multiple colors, shades and veinages, he said while speaking at a ceremony ...
Young farmers to get 392 subsidized tractors  RAWALPINDI: Punjab government will distribute around 392 subsidized tractors among youth residing in rural areas of the Rawalpindi district under the Green Tractor Scheme. The scheme has been launched to effectively engage the younger generation in farming sector, which is considered backbone of the national economy, sources in the District Coordination Officer (DCO)?s office told APP. The district government has received 2,565 applications from the youth of Kahuta, Kotli Sattian, Murree, Taxila, Kallar Syedan and Gujjar Khan, ...
Germany assures Pakistan of continued support on ATP  BERLIN: Germany on Tuesday assured Pakistan of its continued support for Autonomous Trade Preferences (ATP) package as well as GSP plus status for Pakistani products entering European Union markets. German Parliamentary State Secretary for Economic Cooperation and Development, Gurdun Kopp told this to Foreign Minister Hina Rabbani Khar, in a meeting held in Berlin, Germany. The two sides discussed ways and means to further promote bilateral relations in various fields including trade and investment, agriculture, renewable energy, ...
Pakistani mangoes enjoy a prominent position in international market ISLAMABAD: King of fruits, mango is one of the most popular and best-loved fruit worldwide. Hundreds of varieties of mangoes are known to exist in Pakistan.   According to a private news channal, mango is one of the tropical fruits which has experienced tremendous development in recent years.   Mango is considered as the fruit of excellence and thus has a prominent position among the commercial fruits grown in Pakistan.   The king of fruits is grown in Punjab and Sindh ...
Pakistan imports $ 1.4bn plastic, machinery; food trade surges to $ 6bn  KARACHI: Pakistan imported plastic, machinery and equipment worth $ 1.4 billion during 2010, of which import of plastic materials was $ 1.2 billion while import of plastic, printing and packaging machinery and equipment touched $ 212 million in the same period. This was stated by Martin Marz, managing director of fairtrade Messe, Germany, while speaking at the inauguration of three exhibitions, 10th Plasti & Pack 2012, 9th iftech food + bev Pakistan 2012 and 1st food ...
Pakistan, US scientists work together to combat cotton disease ISLAMABAD: Five American scientists travelled to Pakistan to help Pakistani scientists and farmers combat cotton disease, which has infected cotton throughout country’s cotton belt and can substantially reduce yields and incomes for farmers.   American and Pakistani scientists, in coordination with Pakistan’s Ministry of Textiles and Industry and the International Center for Agricultural Research in Dry Areas (ICARDA), launched a workshop to develop solutions to the Cotton Leaf Curl Virus (CLCV) problem in Pakistan. This workshop is ...


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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-1.988 bln
Exports $1.835 bln
Imports $3.823 bln
WeeklyOctober 05, 2015
Reserves $18.349 bln