The State Bank of Pakistan conducted an auction on Tuesday in which it sold PIB's worth Rs. 3.380 Billion for 3, 5 and 10 year. The SBP received no bids for the 20 Year PIB.
Cut off yields were up 30 bps for 3y, 45 bps for 5y and 21bps for the 10 Year PIB.
| Tenor | Amount* | Cut Off |
|---|---|---|
| 3Y | 2,536.40 | 7.5000 |
| 5Y | 250.00 | 8.4795 |
| 10Y | 594.20 | 8.6999 |
| 20Y | – | – |
| Total | 3,380.600 |
* Amount in Rs. Million
December 10, 2019: Central Development Working Party has approved eight projects worth 31.44 billion rupees while referred three worth 40.22 billion rupees to the Executive Committee of the National Economic Council for consideration.
Meeting of the committee was held in Islamabad on Monday with Deputy Chairman Planning Commission Mohammad Jehanzeb Khan in the chair.
Senior officials from federal and provincial governments also attended the meeting.
Radio Pakistan
December 10, 2019: Prime Minister chaired a meeting of government's economic team in Islamabad says the government is trying its best to provide all-out relief to the public despite its limited resources in order to reduce the burden on people of poor and lower-income backgrounds.
The Prime Minister said the multi-pronged program for social protection and poverty reduction dubbed 'Ehsaas' is a clear proof of the government's priorities.
He said the government is not only focused on overall economic development but also giving attention to administrative measures against hoarding and illegal profiteering to ensure the provision of essential items to people at reasonable rates.
Imran Khan said the aim of introducing technology in this regard is to promote transparency and eradication of corruption.
Prime Minister regretted the baseless and misleading propaganda against important national issues like the national economy for personal interests. He said access to information by people should be ensured to counter such mafias.
The Prime Minister directed the government's economic team to apprise the people of every effort and progress for economic reform so that people reject the baseless propaganda themselves.
He also urged the team to resolve the issues on the economy on a priority basis so that the process of economic development continues without any hurdle.
Radio Pakistan
December 10, 2019 (MLN): The State Bank of Pakistan confirmed late on Monday night that it has received USD 1.3 Billion for the Asian development bank.
The loan is for budgetary support and will help bolster the country’s foreign exchange reserves.
The amount is also to help reduce circular debt and improve the performance of the power sector.
Copyright Mettis Link News
Dec 09, 2019 (MLN): The Weekly Sensitive Price Indicator (SPI) for the Combined Group decreased by 0.83% during the week ended Dec 05, 2019 while the SPI increased by 18.57% compared to the corresponding period from last year.
According to data released by the Pakistan Bureau of Statistics (PBS) the Combined Index was at 130.77 compared to 131.87 on Nov 28, 2019 while the index was recorded at 110.29 a year ago, on Dec 06, 2018
Out of the 51 monitored items, the average price of 16 items increased, 10 items decreased whereas 25 items registered no change during the week.
The weekly SPI percentage change by income groups showed that SPI decreased across all quantiles ranging between 1.18% and 0.72%.
The Lowest Income Group witnessed a weekly decrease of 1.18% while the highest income group recorded a decrease of 0.72%.
On an yearly basis, analysis of SPI change across different income segments showed that SPI increased across all quantiles ranging between 17.73% and 21.58%.
Yearly SPI for the Lowest Income Group increased by 18.99% while the highest income group recorded an increase of 17.73%.
The average price of Sona urea stood at Rs.2007 per 50 kg bag which is 0.65% higher than last week’s price and 13.39% higher when compared to last year.
Meanwhile, average Cement price was recorded at Rs.569 per 50 kg bag, which is 1.22% lower than the previous week and 5.95% lower than prices last year.
Copyright Mettis Link News
December 9, 2019: The price of 24 karat gold on Monday decreased by Rs. 100 and was traded at Rs. 84,400 per tola, against Rs. 84,500 on last trading day, Karachi Sarafa Association reported.
Likewise, the price of 10 gram gold declined by Rs 86 and was traded at Rs. 72,359 against last closing of Rs. 72,445.
The price of silver remained stable and was traded at Rs. 980 per tola while 10 gram silver was traded at Rs. 840.20.
In international market, the price of per ounce gold increased by $4 and was traded at $1,464 against closing of $1,460 on last trading day.
APP
