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Weekly Economic Roundup

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December 8, 2019 (MLN): The financial picture of the country in full detail was highlighted with the economic and financial data releases over the course of the week.

  • Pakistan's Yearly Inflation Rate (New Base 2015-16) in November 2019 was 12.67 percent compared to 11.04 percent in October 2019 and 5.70 percent in November 2018.
  • The Weekly Sensitive Price Indicator (SPI) for the Combined Group decreased by 0.72% during the week ended Nov 28, 2019, while the SPI increased by 18.96% compared to the corresponding period from last year.
  • Pakistan's Forex Reserves increased by USD 415.50 Million or 2.67% and the total liquid foreign reserves held by the country stood at USD 15,993.20 Million on Nov 29, 2019.
  • Foreign investors continued to be net buyers for the seventh successive week as the total purchase of securities during the week via Special Convertible Rupee Account (SCRA) outstripped total sale by around Rs. 7.04 billion as of November 29, 2019.
  • The total deposits of scheduled banks valued at Rs.14.3 trillion in November 2019, up by 9.42% YoY from Rs.13.07 trillion in November 2018.
  • The non-government sector has borrowed another net sum of Rs.35.35 billion during the week ended November 29, 2019, which brings the cumulative net borrowing for ongoing fiscal year FY2020 to Rs.68.31 billion. The net borrowing as of prior week was recorded at Rs.32.96 billion.
  • The government of Pakistan has acquired an additional debt of Rs.187.45 billion during the week ended November 29, 2019, which brings its total net borrowing for the ongoing fiscal year 2020 to Rs.332.94 billion. As of prior week, the government had borrowed a net sum of Rs.145.48 billion.
  • The total debt of the Pakistan government declined by 3.16% to Rs.32.19 trillion in October 2019 when compared to Rs 33.24 trillion in September 2019.
  • According to the data compiled by the Bureau of Emigration and Overseas Employment, the manpower export to Saudi Arabia had registered a marked increase of over 207 percent this year as compared to the corresponding year of the last year when 84,091 went there.
  • The State Bank of Pakistan (SBP) conducted an auction on Wednesday in which it sold Market Treasury Bills (MTBs) worth Rs.398.44 billion for 3, 6 and 12 months.
  • The Central Directorate of National Savings (CDNS) has achieved a collection net target of Rs60 billion by November 30, of the fiscal year 2019-20.
  • The Ministry of Planning Development and Reforms has so far given the authorization to release Rs81.132 million for various Textile Industry sector development projects under its Public Sector Development Program (PSDP) for the financial year 2019-20 as against the total allocation of Rs 202.828 million.
  • Out of the total of Rs154.96 billion allocated for National Highway Authority (NHA) road infrastructure projects under the Public Sector Development Programme (PSDP) in the current fiscal year, the government released Rs 46.30 billion till November 29.
  • The Federal Bureau of Pakistan has collected Rs334 billion during November 2019. The tax collection has increased by 17% when compared to last year’s collection for the comparative five months.
  • The Asian Development Bank (ADB) approved a $300 million policy-based loan that will help the Government of Pakistan to address financial sustainability, governance, and energy infrastructure policy constraints in Pakistan’s energy sector.
  • The Asian Development Bank (ADB) approved $1 billion in immediate budget support to Pakistan to shore up the country’s public finances and help strengthen a slowing economy.
  • According to the  OGRA’s notification, there is a $0.1151 per MMBtu (Million British Thermal Unit) decrease in the sale price of imported RLNG on the system of Sui Southern Gas Pipelines Company (SSGC) for the month of November as compared to the last month. The new price of the RLNG for the SSGC system has been fixed at $ 10.8234 per MMBtu.
  • The domestic cement dispatches in the first five months of this fiscal reached 16.854 million tons posting a positive growth of 2.91 percent while exports reached 3.608 million tons depicting a growth of 21.46 percent. Overall cement despatches grew by 5.76 percent to 20.462 million tons.

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Posted on: 2019-12-08T12:15:00+05:00

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