Weekly Economic Roundup

November 10, 2019 (MLN): The financial snapshot of the country was brought to light with the economic and financial data releases over the course of the week.

  • The Weekly Sensitive Price Indicator (SPI) for the Combined Group increased by 0.57% during the week ended Nov 07, 2019 while the SPI increased by 19.03% compared to the corresponding period from last year.
  • Pakistan's Yearly Inflation Rate (New Base 2015-16) in October 2019 was 11.04 percent compared to 11.37 percent in September 2019 and 6.5 percent in October 2018.
  • Contrary to last week’s performance, the investment by foreign investors in local equity markets saw a massive decline, as the net purchase of securities for the week ended November 01, 2019 clocked in at Rs.659.75 million, i.e. around Rs.14.25 billion lower than last week's numbers.
  • The total debt of the Pakistan government increased by Rs.1,461 billion in the first quarter of FY20.
  • Pakistan's Forex Reserves increased by USD 428.20 Million or 2.84% and the total liquid foreign reserves held by the country stood at USD 15,517.90 Million on Nov 01, 2019.
  • The State Bank of Pakistan (SBP) conducted an auction on Wednesday in which it sold Market Treasury Bills (MTBs) worth Rs.887.80 billion for 3, 6 and 12 months.
  • The Organization of the Petroleum Exporting Countries (OPEC) daily basket price increased to 62 U.S. dollars a barrel on Monday, compared with 60.19 dollars the previous Friday, according to OPEC Secretariat calculations.
  • The Ministry of Planning Development and Reforms has so far given authorization for the release of Rs257.436 billion including Rs53.62 billion foreign aid for various ongoing and new development projects under Public Sector Development Program (PSDP) 2019-20 as against the total allocation of Rs701 billion.
  • The government has released funds amounting to Rs 286.548 million during first four months of the of current fiscal year to execute petroleum projects under the Public Sector Development Programme (PSDP 2019-20) against the total allocation of Rs581.812 million.
  • Out of the total of Rs154966.835 million allocated for National Highway Authority (NHA) road infrastructure projects under Public Sector Development Programme (PSDP) in the current fiscal year, the government has released Rs 38.42 billion till November 1.
  • Pakistan has acquired around $1418.83 million as foreign economic assistance in the first 3 months of FY2020 from multiple bilateral and multilateral sources.
  • The cotton arrival in the local markets by November 1, 2019 decreased by 20.88% as compared the arrival of the corresponding period of last year, according the consolidate data  statement of cotton arrivals in  factories, issued by Pakistan Cotton Ginner's Association .
  • The National Electric Power Regulatory Authority (NEPRA) on Tuesday approved Rs 1.82 per unit hike in power tariff for the month of September under monthly fuel adjustment formula.
  • The cement sector has reported 9.19 per cent increase cement despatches in October 2019 dispatching 4.984 million tons cement, an all-time record for a month’s despatches, as compared to 4.564 million tons in October 2018.

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Posted on: 2019-11-10T12:03:00+05:00

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