KARACHI (March 19, 2010): Pakistan's foreign exchange reserves rose to $14.85 billion in the week ending on March 13 from $14.72 billion the previous week, State Bank of Pakistan said on Thursday. Reserves held by the State Bank of Pakistan rose to $10.98 billion from $10.91 billion a week earlier, while those held by commercial banks also rose to $3.87 billion from $3.81 billion the previous week, SBP said.

KARACHI (March 19, 2010): Current account deficit in the first eight months of the 2009/10 fiscal year was a provisional $2.563 billion, the central bank said on Thursday. That compared with a deficit of $7.962 billion in the same period last fiscal year, the State Bank of Pakistan said.

ISLAMABAD (March 19, 2010): The Trade Development Authority of Pakistan (TDAP) Ordinance would be re-promulgated in a way to bring coherence between the Authority and the Federal government as decided by the Federal Cabinet last year. This was stated by the Federal Minister for Commerce Makhdoom Amin Fahim while presiding over a meeting regarding the re- promulgation of TDAP Ordinance.

LAHORE (March 19, 2010): The ambassador of Philippines, Jesus I Yabes, has said that Philippines, with dynamic consumer market, has unlimited scope for Pakistani businessmen dealing in pharmaceuticals, rice, textile yarns, leather and fresh fruits particularly oranges.

ISLAMABAD (March 19, 2010): The Central Development Working Party (CDWP) on Thursday approved 74 projects costing Rs 510.2 billion, with a foreign aid component of Rs 125.1 billion. The CDWP meeting, chaired by Deputy Chairman of the Planning Commission Sardar Aseff Ahmad Ali, approved 36 projects costing Rs 326.0 billion of infrastructure sector, 26 projects costing Rs 158.0 billion of social sector and 12 projects costing Rs 26.3 billion related to agriculture and industry sector.

LAHORE (March 19, 2010): Punjab Minister for Culture and Youth Affairs Dr Tanvir Ul Islam has directed the officers to ensure 100 percent utilisation of funds released for various on going development schemes. He also directed that during official visits officers should stay in Punjab House instead of staying in hotels of Murree to save extra expenditures.

KARACHI (March 19, 2010): Sindh Chief Minister Syed Qaim Ali Shah, while making the provincial bureaucracy accountable for its behavior towards the government-backed programs, asked the officers to spend the development funds on time.

KARACHI (March 19, 2010): The Government of Sindh with the assistance of Asian Development Bank (ADB) is pursuing the policy reforms to improve the performance and efficiency of public sector enterprises. This initiative is aimed at enhancing private sector participation in the management of commercial activities under public private partnership.

KARACHI (March 19, 2010): The Daylight Saving Time (DST) has been described as a "jinx" by Sultan Ahmed Chawla, President, Federation of Pakistan Chambers of Commerce and Industry (FPCCI). Talking to Business Recorder, he said it has proved a failure in the past and totally unsuited for Pakistan. Western countries adopt DST in summer to compensate for the short winter days.

ISLAMABAD (March 19, 2010): Federal Minister for Housing & Works, Rehmatullah Kakar held a meeting with the Chairman, House Building Finance Co-operation (HBFC) Azhar A. Jaffery and MD, Khalid Aftab in the Ministry and discussed prospects of co-operation in the housing projects under Prime Minister's housing programme.