The Weekly News Roundup

September 15, 2019 (MLN): Among various economic and policy-oriented developments that took place during the departed week, the event that caught majority of the attention was the SBP’s announcement regarding meeting of Monetary Policy Committee which is scheduled to take place on Monday 16, 2019 to decide the policy rate for the next two months.

Another important event that took place during last week was a four-day meeting of the Asia Pacific Joint Group of the Financial Action Task Force (FATF) that began on Monday in Bangkok wherein the group reviewed the compliance report of Pakistan, Mangolia and Cambodia.

Meanwhile, on Monday, the Ministry of Finance issued a notification as per which the rates of profit on National Saving Schemes shall remain unchanged from September 1, 2019.

On the upside, the Asian Development Bank (ADB) in its annual statistical report, highlighted that the extreme poverty (or below $1.9 per day poverty line) in Pakistan has gone down from 28.6 percent of total population in 2001 to 3.9 percent in 2015.

On Wednesday, the Supreme Court of Pakistan revealed that it will hear the case on Gas Infrastructure Development Cess (GIDC) on September 19, 2019.

Moreover, the State Bank of Pakistan (SBP) conducted an auction on Wednesday in which it sold Market Treasury Bills (MTBs) worth Rs.512.77 billion for 3, 6 and 12 months.

On Thursday, Prime Minister Imran Khan chaired a meeting on Ease of Doing Business in construction sector in Islamabad, in which he approved in principle declaring construction sector as an industry.

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