September 05, 2021 (MLN): The weekly economic roundup summarizes the country's key economic and financial data for the week from various sectors to keep an eye on next week's trends. 

• Pakistan's trade deficit for 2 months (July-August) FY22 was USD 7.49 billion compared to a deficit of USD 3.41 billion from the corresponding period from FY21.
• Pakistan's Forex Reserves increased by USD 2,608.40 Million or 10.59% and the total liquid foreign reserves held by the country stood at USD 27,227.70 Million on Aug 27, 2021.
• Foreign investors pulled out a net amount of Rs6 billion securities from the debt market during the week ended August 27, 2021 i.e. around Rs.4.34 billion lower than last week's numbers, marking a second straight weekly net selling.
• The cement sector posted a growth of 22.77 percent in August 2021. Total Cement despatches during August 2021 were 4.336 million tons against 3.531 Million Tons despatched during the same month of last fiscal year.
• The Weekly Sensitive Price Indicator (SPI) for the Combined Group increased by 0.67% during the week ended Sept 02, 2021 while the SPI increased by 12.53% compared to the corresponding period from last year.
• Pakistan's Yearly Inflation Rate (New Base 2015-16) in August 2021 was 8.35 percent compared to 8.40 percent in July 2021 and 8.20 percent in August 2020.
• The overall sales volume of the Oil and Marketing industry has increased by 26% YoY to stand at 1.96MTs in the month of August’21 as compared to 1.55MTs in the same month a year ago.
• Cotton arrivals at the ginneries as of September 1, 2021 posted a massive uptick of 73% as it has reached 1.8 million bales, compared to the arrival of 1.03mn bales- the data collected on September 15, 2020.
• Exports from Pakistan for the month of August 2021 have grown by 43% to USD2.257 billion as compared to USD1.584bn in August 2020 as the growth was affected by shipments’ delays due to heavy rains.
• Ministry of Commerce (MoC) will start the new round of Tariff Rationalisation in the month of September to stimulate industrial growth further.
• Trafigura and PetroChina International have placed the lowest offers in a tender by Pakistan LNG seeking five liquefied natural gas (LNG) cargoes for delivery in October and November.
• The non-government sector has retired a net sum of Rs.40.16 billion during the week ended August 20, 2021, which brings the cumulative net borrowing for the ongoing fiscal year FY2022 to Rs.561.4 billion.
• The government of Pakistan has accumulated Rs.85.13 billion during the week ended August 20, 2021, which brings its total net retirement for the ongoing fiscal year FY2022 to Rs.306.81 billion.
• Pakistan has secured $1.596 billion foreign assistance during the first month of the fiscal year 2021-22 i.e., July’21 from multiple financing sources against the annual budget estimates of $14.085bn for the entire fiscal year FY22.
• The government on Tuesday cut prices of petroleum products by up to Rs1.50 per litre, effective from September 01, 2021.
• Pakistan’s energy giants’ consortium has been awarded Offshore Block 5 in Abu Dhabi's second competitive exploration block bid round.
• Low interest rates and robust demand from consumers have taken the auto-financing to a record high of Rs314billion by the end of July 2021, an increase of Rs99bn or 46% YoY, Central bank data showed.
• In order to provide further investment and financing opportunities to non-resident Pakistanis (NRPs), SBP has allowed direct investment through the rupee-based Roshan Digital Accounts (RDA), into the shares of companies in Pakistan and units of funds established and operated by private fund management companies licensed by SECP.
• The total debt of the Central Government during FY21 surged by Rs3.59trillion or around 10% YoY to stand at Rs38.697tr when compared to Rs35.106tr recorded in FY20.
• S&P Global Ratings has affirmed its 'B-' long-term and 'B' short-term sovereign credit ratings on Pakistan. The outlook for the long-term rating is stable.
• The National Savings Schemes (NSS) witnessed a huge outflow of investments during FY21, clocking in at Rs317.25billion, compared to the inflows of Rs370.9billion recorded in the previous fiscal year, Central bank data showed on Monday.
• Pakistan’s External Debt and Liabilities reached nearly $122.16 billion during April-June FY21, an increase of $9.18bn or 8% YoY, as per the data released by the Central Bank.

Copyright Mettis Link News

43164