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Finance Minister Ishaq Dar has said that talks will be held with Swiss government in August to bring back $200 billion to Pakistan from Switzerland. In a statement, Dar said talks would be held in several phases and it could take three to four years to bring back the said money to Pakistan. He said that the economic situation was fragile when the PML-N govt took charge of the affairs of the country.

Prime Minister Mian Nawaz Sharif has tasked Punjab Chief Minister Shahbaz Sharif, Interior Minister Chaudhry Nisar Ali Khan and Finance Minister Ishaq Dar to establish contact with the PTI chief Imran Khan regarding forthcoming protest programme of the PTI on August 14. According to sources, Nawaz held a meeting with Shahbaz in Lahore in which they discussed the August 14 march of PTI.
Opposition Leader in the National Assembly Syed Khurshid Shah has said the loyalty of Interior Minister Chaudhry Nisar Ali Khan with Prime Minister Nawaz Sharif is doubtful in his eyes. He accused Chaudhry Nisar of spoiling the matters with his statements and actions. While talking to the media after offering Eid prayer in Sukkur, Khurshid Shah said Chaudhry Nisar got stuck in words and spoiled the political situation as a result.
Prime Minister Nawaz Sharif has said democracy is the only solution of Pakistan's crises. He said this in an interview at Jeddah Airport before departure for Pakistan. He said people of Pakistan voted in favour of democracy in 2013 elections. He said the government is actively working on economic reforms to bring the country out of crises. He said his government is committed to resolving public issues.
At least 23 bodies of ill-fated picnickers drowned in Clifton Beach in the Sea View area on the second day of Eid-ul-Fitr, were recovered after hours long rescue operation on Thursday. According to police and rescue sources, the tragic incident occurred when a large number of people were taking bath in the sea at two different beaches of the city - Sea View and Hawks Bay. According to sources, around 23 persons, mostly youths, drowned into the sea reportedly due to its rough conditions in the current monsoon season.
Finance Division and Financial Monitoring Unit (FMU) are collecting data including feedback/statistics on Suspicious Transaction Reports (STRs) disseminated to law enforcement agencies to check any suspected banking transactions involving money laundering under Anti-Money Laundering Act. Sources told Business Recorder here on Thursday that the Finance Division's AML-I section has written a letter to the Director General FMU Karachi in this regard.
The UN Security Council on Thursday called for humanitarian pauses in Gaza and renewed an appeal for an immediate cease-fire between Israel and Hamas amid alarm over the fate of civilians. The 15 members of the panel expressed "grave disappointment" that repeated calls for a truce had not been heeded, in a statement read to the press at the end of a four-hour meeting at United Nations headquarters in New York.
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln