Pakistan's forex reserves rise to $14.36 bln

KARACHI, Sept 17 (Reuters) - Pakistan's foreign exchange reserves rose to $14.36 billion in the week ending Sept. 12 compared with $14.24 billion the previous week, the central bank said on Thursday.[ For previous report, click on]
State Bank of Pakistan's reserves rose to $10.84 billion from $10.74 billion a week earlier, while reserves held by commercial banks also rose to $3.52 billion from $3.50 billion a week earlier.
Pakistan agreed in November to an International Monetary Fund emergency loan package of $7.6 billion to avert a balance of payments crisis and shore up reserves.
The fund increased the loan to $11.3 billion in July. The IMF has disbursed a total $5.148 billion so far.
Foreign reserves hit a record high of $16.5 billion in October 2007 but fell steadily to $6.6 billion by November of last year, largely because of a soaring import bill.
On Aug. 1, the central bank stopped using foreign exchange to pay for diesel and other refined petroleum products, which will force importers to obtain the dollars they need in the market.
The central bank will continue to provide foreign exchange for crude oil imports until Feb. 1 next year.