Pakonomy

1)Pakistan’s foreign exchange reserves increase to $16.6bn

Pakistan’s foreign exchange reserves augmented to $16.6 billion in the week ended April 13, in comparison to $16.52 billion in the previous week.

 2)Export target reduced by $2 billion

The government has revised the export target by reducing $2 billion for the current fiscal year – from $26.7 billion to $24.7 billion. They said that the country’s exports had been negatively affected in the current fiscal year in terms of value and volume due to energy crisis and inflation.

3) Gas price is to be renegotiated with Iran

Under the (IP) gas pipeline project Pakistan will renegotiate gas price with Iran as the price of Turkmenistan-Afghanistan-Pakistan-India (Tapi) gas is cheaper. The IP gas price was $11 per mmcfd while Tapi was estimated at $13 per mmcfd.

 4)Within two years Pakistan rice export to Malaysia grew by 244%

As 244% increase in the rice export to Malaysia during the last two years was encouraging sign.

Pakistan is expecting to export more rice to Malaysia, which has emerged as one of the choice destinations for the Pakistani rice exporters.

 5)Pakistan asks US to create fund for coal projects

Diminishing investment interest has prompted Pakistan to ask the United States to create a coal development fund in collaboration with multilateral donors, like the Islamic Development Bank, in order to provide a financing window for less-developed but coal-rich countries for setting up coal-fired power plants.

 6)Meat, fish, fruits exports showcase positive growth

The exports of meat and fish as well as their preparations showcased a positive growth of 13.88% and 12.12% during July-March 2012.Similarly, exports of fruits during the period under review increased by 15.25% in comparison to the same period of last year.