December 1, 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 0.22% during the week ended Nov 21, 2019 while the SPI increased by 19.86% compared to the corresponding period from last year.
- The State Bank of Pakistan (SBP) released the auction calendar for the next three months, Dec-Feb, in which it aims to raise Rs.2.85 trillion from the auction of Market Treasury Bills (MTB) and Pakistan Investment Bonds (PIB).
- The non-government sector has borrowed another net sum of Rs.8.25 billion during the week ended November 22, 2019, which brings the cumulative net borrowing for ongoing fiscal year FY2020 to Rs.32.96 billion. The net borrowing as of prior week was recorded at Rs.24.71 billion.
- The government of Pakistan has retired Rs.99.57 billion during the week ended November 22, 2019, which brings its total net borrowing for ongoing fiscal year 2020 to Rs.145.48 billion. As of prior week, the government had borrowed a net sum of Rs.245.05 billion.
- The non-government sector has borrowed a net sum of Rs.41.44 billion during the week ended November 15, 2019, which brings the cumulative net borrowing for ongoing fiscal year FY2020 to Rs.24.71 billion. The net retirement as of prior week was recorded at Rs.16.73 billion.
- The government of Pakistan has retired Rs.26.08 billion during the week ended November 15, 2019, which brings its total net borrowing for ongoing fiscal year 2020 to Rs.245.05 billion. As of prior week, the government had borrowed a net sum of Rs.271.13 billion.
- Pakistan's Forex Reserves increased by USD 115.40 Million or 0.75% and the total liquid foreign reserves held by the country stood at USD 15,577.70 Million on Nov 22, 2019.
- Pak Rupee's Real Effective Exchange Rate Index (REER) increased by 0.37 percent in October 2019 to a provisional value of 94.7100 from the revised value of 94.3600 in September 2019.
- Metal Group imports reduced by 20.90% during the Jul-Oct FY20 as compared to the corresponding period last fiscal year. According to the data released by the Pakistan Bureau of Statistics, Metal Group imports came down from $ 1.75 billion to $1.39 billion in the aforementioned period.
- Foreign investors continued to be net buyers for the sixth successive week as the total purchase of securities during the week via Special Convertible Rupee Account (SCRA) outstripped total sale by around Rs. 49.84 billion as on November 22, 2019.
- Pakistan earned $120 million by providing different travel services in various countries during the first quarter of the current financial year 2019-20.
- Profits and dividends repatriated by countries on foreign total investment during Jul-Oct FY20 stood at $548.1 million, up by 10.27% YoY from $497 million in the same period last fiscal year.
- Pakistan has acquired around $2.52 billion as foreign economic assistance during Jul-Oct FY20 from multilateral, bilateral, Saudi Arabia-Short term loans as well as Commercial Banks.
- The Banking sector spread for October 2019 slightly depressed by 4 basis points (bps) over the month which brings its latest value to 6.13% as compared to prior month's spread of 6.17%. Alternatively, the spread has inched up by 110 bps as compared to the same period last year.
- According to the latest data released by SBP on advances classified by borrowers, the overall credit to government sector surged by 1.51% MoM to an accumulated amount of Rs 12.7 trillion in the month of October 2019 when compared to September 2019. The credit to the private sector which includes SBP credit and Scheduled banks credit rose marginally by 0.16% to Rs7.79 trillion.
- The National Electric Power Regulatory Authority (NEPRA) on Tuesday has allowed an increase of 14.56 paisa per unit in power tariff for ex-WAPDA Discos on account of power purchase price (PPP) adjustment for the Jul-Sept FY20.
- The Ministry of Planning Development and Reforms has so far given the authorization to release Rs5.762 billion for various agriculture sector development projects under its Public Sector Development Program (PSDP) for the financial year 2019-20 as against the total allocation of Rs 12.047 billion.
- The total DAP offtake during the month of October 2019 was recorded at 271 thousand tonnes, i.e. lower by 48 percent as compared to the same month of last year.
- Urea offtake during the month of October 2019 stood at 119 thousand tonnes, recording a decrease of 74.4 percent over October 2018.
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