Nov 01, 2019 (MLN): The State Bank of Pakistan (SBP) conducted an Open Market Operation on Friday in which it injected Rs.646.35 Billion into the market for 7 Days.
| Amount* | Rate | Bids | |||||
|---|---|---|---|---|---|---|---|
| Tenor | Type | Offered | Accepted | High – Low | Accepted | Offered | Accepted |
| 7D | Reverse Repo (Injection) | 668.350 | 646.350 | 13.34 – 13.28 | 13.29 | 18 | 17 |
| OMO Settlement: same day November 01, 2019 | |||||||
| *Amount in Billions | |||||||
Copyright Mettis Link News
30897
July 6, 2020: Pakistan and China will sign an agreement on Monday for construction of Azad Pattan Hydel Power Project.
In a tweet on Monday, Chairman CPEC Authority Asim Saleem Bajwa said Prime Minister Imran Khan will grace the occasion.
He said this project, another milestone under the CPEC, envisages an investment of 1.5 billion dollars.
Radio Pakistan
July 6, 2020 (MLN): Moody's Investors Service says that non-investment grade emerging and frontier market sovereigns face a sharp economic downturn following the coronavirus outbreak, with many not recovering to pre-crisis levels until 2022 or beyond.
Reflecting these challenges, Moody's has so far this year taken rating action on 50 non-investment grade sovereigns, 29 of which have been principally motivated by the coronavirus outbreak.
Moody's conclusions are summarized in the second edition of a bi-annual chartbook that highlights key rating trends for non-investment grade sovereigns across the globe.
"Globally, debt-to-GDP ratios will jump, often from already elevated levels, and we expect they will continue to rise over the coming years, raising fiscal challenges," says Michael Higgins, a Moody's Analyst.
"The coronavirus shock is precipitating a significant increase in external vulnerability and government liquidity risks among non-investment grade sovereigns, while political tensions remain present, especially as the pandemic heightens focus on many social risks," adds Higgins.
All non-investment grade emerging and frontier market sovereigns will experience slower growth on account of the global coronavirus shock, with 2020 growth forecasts revised down by 6.8 percentage points on average from the end of 2019.
In 2021, Moody's expects economic recoveries to vary widely, depending on policy measures governments implement, including their nature, magnitude and timeliness, as well as on the structure of the economy.
Specifically, services-dependent economies – especially those with high exposure to tourism – and commodity exporters will experience a slower rebound in activity.
As of the end of June 2020, Moody's rated 76 emerging and frontier markets at Ba1 below, an increase of three from December 2019, following the assignment of a B3 rating to Laos and the downgrade of South Africa and Bahamas into non-investment grade.
Moody’s
July 06, 2020: Prime Minister Imran Khan has commended the pace of work on hydropower projects being completed in Khyber Pakhtunkhwa.
In a Facebook post, the Prime Minister said 36 Megawatt Daral Khwar hydropower project located on the main Madain-Kalam road in Swat was started by PTI Government in Khyber Pakhtunkhwa.
He said the project has exceeded its annual generation target until last month.
Similarly, work on the 40MW KOTO Hydropower Project under construction by Pakhtunkhwa Energy Development Organization is being completed by next year.
The Prime Minister in his Facebook post also mentioned the under construction 1124MW Kohala Dam which is expected to be completed by 2025-26 and 800MW Mohmand Dam Project being completed by 2024-25.
Both projects will also help to increase the water storage capacity of the country.
Radio Pakistan
July 06, 2020: Prime Minister Imran Khan will deliver a keynote address at a special session of International Labour Organization, be held on the request of Pakistan on Wednesday, to evolve a strategy for the well-being of labourers in the post-coronavirus scenario.
Special Assistant to the Prime Minister on Overseas Pakistanis and Human Resource Development Sayed Zulfikar Abbas Bukhari forwarded the request to the ILO on the occasion of World Labour Day for holding a session of its member states on an urgent basis to discuss the impact of the COVID-19 pandemic on labourers and workers across the world.
The government, at the forum, would underline the need for taking immediate steps for workers and labourers.
The member states would launch a discussion on a new action plan for the workforce and labourers.
Radio Pakistan
