Government borrowing from state bank in 10 months has risen by 52 percent.
Aug 22, 2019 (MLN): Pakistan's Forex Reserves increased by USD 27.20 Million or 0.17% and the total liquid foreign reserves held by the country stood at USD 15,604.70 Million on Aug 17, 2019.
According to data published by the State Bank of Pakistan (SBP) its reserves decreased by USD 25.70 Million due to external debt servicing and other official payments.
| Foreign reserves held by | Aug 17, 2019 | Aug 09, 2019 | Change | % Change |
|---|---|---|---|---|
| State Bank of Pakistan | 8,238.70 | 8,264.40 | -25.70 | -0.31% |
| Net Foreign Reserves Held by Banks | 7,366.00 | 7,313.10 | 52.90 | 0.72% |
| Total Liquid Foreign Reserves | 15,604.70 | 15,577.50 | 27.20 | 0.17% |
Amount in USD Million
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August 22, 2019 (MLN): The benchmark KSE 100 index has nailed another outstanding victory on trading floors by gaining 911 points in today’s trade and yanking up the index to 31,884 points after gap of 20 days.
Today’s gains also mark the index’s 4th day on the greener side, during which period it gained a net of 3,119 points.
The Index remained positive throughout the session touching an intraday high of 31,911.63
Of the 91 traded companies in the KSE100 Index 83 closed up 6 closed down, while 2 remained unchanged. Total volume traded for the index was 176.03 million shares which is the highest since February 27, 2019.
Sectors propping up the index were Oil & Gas Exploration Companies with 212 points, Commercial Banks with 181 points, Fertilizer with 98 points, Cement with 86 points and Power Generation & Distribution with 81 points.
The most points added to the index was by OGDC which contributed 81 points followed by PPL with 61 points, ENGRO with 58 points, POL with 52 points and HUBC with 50 points.
Meanwhile, the KSE All Share Volume increased by 127.13 Million to 261.69 Million Shares whereas Market Cap increased by Rs.173.09 Billion.
The total companies traded were 389 compared to 347 from the previous session. Of the scrips traded 334 closed up, 41 closed down while 14 remained unchanged.
On the other hand, the total trades increased by 18,837 to 76,701, while value Traded increased by 2.26 Billion to Rs.7.63 Billion.
| Company | Volume |
|---|---|
| Worldcall Telecom | 22,570,000 |
| K-Electric | 17,928,000 |
| The Bank of Punjab | 14,809,000 |
| Unity Foods | 13,152,000 |
| TRG Pakistan | 12,657,000 |
| Maple Leaf Cement Factory | 12,612,000 |
| Fauji Cement Company | 7,952,500 |
| Pakistan International Bulk Terminal | 7,423,500 |
| Pak Elektron | 7,301,500 |
| Lotte Chemical Pakistan | 6,716,000 |
| Sector | Volume |
|---|---|
| Technology & Communication | 42,236,000 |
| Cement | 34,451,800 |
| Commercial Banks | 32,813,500 |
| Power Generation & Distribution | 23,478,500 |
| Chemical | 18,354,880 |
| Oil & Gas Marketing Companies | 13,363,300 |
| Vanaspati & Allied Industries | 13,164,400 |
| Oil & Gas Exploration Companies | 12,873,080 |
| Transport | 10,253,400 |
| Engineering | 9,298,700 |
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August 22, 2019 (MLN): The non-government sector has borrowed a net sum of Rs.29.51 billion during the week ended August 09, 2019, which brings the cumulative net retirment for ongoing fiscal year FY2020 to Rs.105.04 billion. The net retirement as of prior week was recorded at Rs.134.55 billion.
According to weekly data released by the State Bank of Pakistan, the sector has retired Rs.118.85 billion over the year since the borrowing as of corresponding period of last year was recorded at Rs.13.81 billion.
The non government sector is divided into three broad categories namely, the Private Sector, the Public Sector Enterprises and NBFI. Commercial banks are the main source of financing for the private sector, incuding conventional banks, islamic banks and islamic branches of conventional banks.
This fiscal year, the private sector retired a net sum of Rs.104.2 billion, whereas the PSE's have retired Rs.1.22 billion and NBFI has borrowed Rs.376.84 million.
As we disintegrate the inflows and outflows within the private sector, we see that Conventional Banks were retired a cumulative sum of Rs.106.14 billion, Islamic Banks were retired a net of Rs.14.19 billion and lastly the Islamic branches of Conventional Banks lent Rs.16.12 billion.
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August 22, 2019 (MLN): The government of Pakistan has retired a net sum of Rs.40.44 billion during the week ended August 09, 2019, which brings its total net retirement for ongoing fiscal year FY2020 to Rs.24.66 billion. As of prior week, the government had borrowed a net sum of Rs.15.78 billion.
According to the State Bank of Pakistan's weekly estimates in this regard, this year's overall net retirement as of this week has decreased by Rs.288.19 billion over the year as last year's net retirement for the same period stood at Rs.312.86 billion.
The government sector borrowings are divided into three broad categories based on the purpose of loan which are budgetary support, commodity operations and others.
Split three ways between these broad categories, the cumulative net retirement off budgetary support was Rs.16.28 billion, that for commodity operations stood at Rs.7.6 billion. whereas Rs.777.61 million (net) were retired off other miscellaneous operations.
The two biggest source of financing for budgetary support are the State Bank of Pakistan and the Scheduled Banks. This fiscal year, the central bank has been retired a net sum of Rs.1.39 trillion by the government, out of which the Federal Government retired Rs.1.35 trillion, the Provincial Government retired Rs.27.45 billion, AJK Government retired Rs.7.06 billion, and the GB Government retired Rs.2.11 billion.
On the other hand, the Scheduled Banks have lent out a net total of Rs.1.37 trillion out of which the Federal Government borrowed Rs.1.37 trillion while the Provincial Government retired Rs.2.15 billion.
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August 22, 2019 (MLN): Pakistan's outstanding debts as of July 31, 2019 stand at Rs.20.1 trillion whereas total debt at the end of prior month was Rs.20.23 trillion, meaning that around Rs.121.82 billion or 0.6% were retired during this month alone.
As compared to the same period last year when outstanding credit was Rs.16.93 trillion, the current debt position is Rs.3.17 trillion higher this time around, marking a year-on-year expansion of 18.75 percent.
The total outstanding credit is branched into the amount accumulated by government sector and that accumulated by the non-government sector. Out of the total outstanding loan, credit given to the government sector accounts for Rs.12.36 trillion while credit to non-government sectors account for Rs.7.74 trillion.
Credit to Government Sector:
The State Bank of Pakistan’s net credit to the government sector amounts to Rs.5.51 trillion which includes investments in government securities and government deposits, and other direct loans. During this month, the central bank has been retired a sum of Rs.1.17 trillion or 17.55 percent.
Meanwhile, the second largest source of financing for the sector, the Scheduled Bank's net credit adds up to Rs.6.85 trillion which is Rs.1.13 trillion higher than the outstanding credit at the beginning of the fiscal year thus indicating that the sector accumulated additional loan during the period.
Credit to Non-Government Sector:
The State Bank’s claim to outstanding credit of this particular sector is comparatively negligible (only Rs.25.67 billion), while on the b-side, scheduled banks have a claim to up to Rs.7.72 trillion as of the end of this month.
At the end of previous month (June 2019), the outstanding amount owed to these banks was Rs.7.8 trillion indicating that Rs.80.97 billion were retired during the month.
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