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Summary PM Gilani on Thursday stressed trade should benefit from Pak-India enabling environment.
In a meeting with Indian Business delegation led by R.B.Mittal at the Prime Minister House, Prime Minister Gilani called for exchange visits of parliamentarians of the two countries to espouse the cause of meaningful and productive contacts.The Prime Minister recalled his meeting with Indian Prime Minister Dr Manmohan Singh at Mohali, India and his meeting with Sonia Gandhi, President Indian National Congress.Gilani termed Prime Minister Manmohan Singh as a sincere leader who was committed to normalize relation between Pakistan and India.He said that he was looking forward to the visit of Indian Prime Minister to Pakistan.Prime Minister Gilani asked the leader of delegation to convey his best wishes to Indian Prime Minister.The Prime Minister said his meeting with Indian parliamentarian delegation in the recent past was a step in right direction aimed at enhancing people-to-people contacts. He added that he looked forward to the visit of Lok Sabha Speaker to Pakistan.The members of Indian delegation expressed their deep sense of gratitude over the hospitality of business community in Karachi, Lahore and Islamabad.They expressed satisfaction over the prevailing environment and momentum to enhance trade between the two countries.They expressed their resolve to build trade relations between two countries on durable basis.The Indian delegation urged upon the setting up of a business forum of Pakistan and India to facilitate business activities on efficient and meaningful grounds.Other members of delegation included Harshpati Singhania, Muthuraman, Sudhir jalan, Naresh Goeal and Sunial Kant Munjal.--APPForeign exchange reserves rise to $16.77 billionPakistans foreign exchange reserves rose to $16.77 billion in the week ending February 10, compared with $16.69 billion the previous week, SBP said on Thursday. Reserves held by the State Bank of Pakistan (SBP) fell to $12.29 billion from $12.32 billion a week earlier, while those held by commercial banks rose to $4.48 billion, compared with $4.36 billion the previous week. Foreign exchange reserves hit a record $18.31 billion in July last year, but have since eased due to debt repayments.Islamabad has to start repaying an $8 billion International Monetary Fund loan in early 2012. Without additional sources of revenue, that will put further pressure on Pakistans foreign exchange reserves.Reserves were boosted in June last year by inflows of $411 million, including a $191.9 million loan from the World Bank, and a $196.8 million loan from the Asian Development Bank. Higher export proceeds and a record inflow of remittances have also helped support Pakistans foreign exchange reserves. According to the official data, remittances rose 21.54 percent to $7.43 billion in the first seven months of the fiscal year (July-June), compared with $6.12 billion in the same period a year earlier.--
