KARACHI, Nov 5 (Reuters) - Pakistan's foreign exchange reserves fell to $14.23 billion in the week that ended on Oct. 31 from $14.43 billion the previous week, the central bank said on Thursday.

Reserves held by the State Bank of Pakistan were $10.64 billion, down from $10.86 billion a week earlier, while those held by commercial banks rose marginally to $3.59 billion from $3.57 billion the previous week, the central bank said in a statement.

Foreign reserves hit a record high of $16.5 billion in October 2007, but fell steadily to $6.6 billion by November last year -- largely because of a soaring import bill.

An International Monetary Fund (IMF) emergency loan package of $7.6 billion agreed in November helped avert a balance of payments crisis and shore up reserves.

The IMF, which increased the loan to $11.3 billion in July, has disbursed more than $5 billion.

Pakistan officials are meeting IMF officials in Dubai to Nov. 12 for a third review of Pakistan's economic performance.

(Reporting by Faisal Aziz; Editing by Robert Birsel)

(For more Reuters coverage of Afghanistan and Pakistan, see: http://www.reuters.com/news/globalcoverage/afghanistanpakistan) (If you have a query or comment about this story, send an e-mail to news.feedback.asia@thomsonreuters.com) FA Keywords: PAKISTAN RESERVES/

(E-mail: faisal.aziz@thomsonreuters.com; Reuters Messaging: faisal.aziz.reuters.com@reuters.net; Karachi newsroom: +92-21 3568 5192)

COPYRIGHT

Copyright Thomson Reuters 2009. All rights reserved.

The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.