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Water Resources Development Project signed with ADB for FATA ISLAMABAD: The Secretary, Economic Affairs Division (EAD) Muhammad Saleem Sethi has signed the irrigation project here on Friday with Asian Development Bank (ADB) for Federally Administered Tribal Areas (FATA).Financing of US$ 43 million for FATA Water Resources Project shall be secured through ADB's soft lending window.Under this project 9 small dams with the height of 15 meters shall be constructed, directly benefiting thousands of households in Khyber, Mohmand and Bajour agencies,according to statement issued.For the irrigation purposes, 31 diversion weirs and 95 kilometers of main and secondary irrigation channels to provide a reliable and uninterrupted supply of water through the year shall be constructed.The project also includes the installation of rain and stream gauges to measure water availability and building of watershed management on 5 thousand ha through afforestation of the degraded watershed.Muhammad Saleem Sethi, appreciated the efforts of ADB in helping Pakistan's energy, infrastructure and irrigation sectors through enlarging ...

Diplomats urged to play proactive role for promoting trade, exports ISLAMABAD: A 30-member delegation of young foreign diplomats on Thursday visited Islamabad Chamber of Commerce and Industry (ICCI) for an interaction with local business community and exchange views on exploring new areas of mutual cooperation.They also looking to promote bilateral trade and investment between Pakistan and their respective home countries.The diplomats were undergoing 23rd Junior Diplomatic Course at Foreign Service Academy of Pakistan and were representing various countries including Afghanistan, Azerbaijan, Brazil, Bulgaria, Comoros, Costa ...
Punjab expects 19mn tonnes wheat production ISLAMABAD: In Punjab, over 19 million ton wheat produce is expected this year from 17 million acres sown area.According to Radio Pakistan quoting a spokesman of Agriculture department the assessment is one per cent below the wheat production achieved last year due to recent rains and hailing that damaged wheat crop in parts of Punjab.The spokesman advised farmers to handle carefully process of wheat harvesting, threshing and storage.He advised farmers not to harvest crop in ...
International Investors call on Ishaq Dar in London ISLAMABAD: Representatives from the top financial companies in London called on Finance Minister Ishaq Dar at Pakistan High Commission London last night.Leading investment funds including Jefferies, Aberdeen Asset Management, Ashmore Group, Renaissance Capital, and Spinnaker were represented during this meeting, according to a statement here Thursday.Giving an overview of the Pakistan economy, the Minister highlighted the successful issuance of Euro and Sukuk bonds and recent divestment of Government shares in Habib Bank.He thanked the investors ...
Services trade deficit down 38.13pc ISLAMABAD: Services trade deficit during first eight months (July-February) of current fiscal year 2014-15 witnessed a sharp decrease of 38.13 percent to US $1.124 billion from $1.818 billion during July- February 2013-14.The services exports during the period under review increased by 22.78 percent from $3.442 billion last year to $4.226 billion this year.While the imports witnessed an increase of 1.73 percent to $5.351 billion in July-February 2014-15 from $5.26 billion during same period of last ...
Hydropower generation must for speedy economic growth: LCCI LAHORE: The Lahore Chamber of Commerce & Industry (LCCI) Tuesday stressed on early construction of dams as speedy economic growth was possible only through hydropower generation, an inexpensive source of electricity. LCCI President Ijaz A. Mumtaz, in a press statement, said power generation through thermal means was not affordable for businessmen. He said Kalabagh dam should be constructed as it would not only produce cheaper and sufficient electricity but also help avert drought like Tharparkar ...
Weekly inflation up by 0.78pc ISLAMABAD: The weekly inflation for the week ended on April 09 for the lowest income group up to Rs 8,000 witnessed increase of 0.78 percent as compared to the previous week.The Sensitive Price Indicator (SPI) for the week under review in the above mentioned group was recorded at 201.56 points against 200.00 points registered in the previous week, according to data of Pakistan Bureau of Statistics (PBS).The weekly SPI has been computed with base 2007-2008=100, ...


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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJune 25, 2015
Reserves $17.457 bln