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Weekly Economic Roundup

August 07, 2022 (MLN): The financial highlights of the country are brought to light with the economic and financial data releases over the course of the week.

  • State Bank of Pakistan (SBP) reduced cash margin requirements (CMR) on deferred payments to provide relief to importers. The cash margin will be 25% for payments from 91 to 180 days and 0% on payments beyond 180 days instead of the previous requirement of 100%.
  • Foreign exchange inflows through Roshan Digital Account (RDA) have declined by 25% MoM and reached $4.79 billion by July 2022 since its launch in September 2020.
  • The Weekly Sensitive Price Indicator (SPI) for the Combined Group inched higher by 0.82% during the week ended Aug 04, 2022 while the SPI surged by 37.79% compared to the corresponding period from last year.
  • The total liquid foreign exchange reserves held by the country dropped by $206 million or 1.42% WoW to stand at $14.2 billion during the week ended on July 29, 2022, compared to $14.4bn in the previous week
  • The State Bank of Pakistan (SBP) raised Rs298.5 billion on Wednesday, against the target of Rs175 billion by selling fixed-rate Pakistan Investment Bonds (PIBs).
  • Pakistan's yearly inflation rate (New Base 2015-16) in July 2022 jumped to a 14-year high of 24.9% compared to 21.3% in June 2022 and 8.4% in July 2021.
  • Pakistan’s oil marketing companies (OMCs)’ sales declined in July for the second consecutive month by 26% MoM to 1.44 million tons (MTs), the lowest level since Feb 2021.
  • The Federal Board of Revenue (FBR) has collected net revenue of Rs458 billion in July 2022, exceeding the target of Rs443bn by Rs15bn.
  • The total money supply circulating within the economy in June 2022 has been recorded at around Rs30.4 trillion.
  • Pakistan's merchandise trade deficit for the month of July 2022 clocked in at $2.64 billion compared to a deficit of $4.96bn in the preceding month, narrowed by 46.77% MoM.
  • Cement despatches declined by 47.7% to 2.039 million tons (MTs) in July 2022 against 3.899MTs despatched during the same month of last fiscal year. 
  • Pakistan’s textile exports witnessed a decline of 10% MoM to stand at $1.54 billion in July 2022, according to the provisional data released by All Pakistan Textile Mills Association (APTMA).
  • Oil and Gas Regulatory Authority (OGRA) issued a price-revision notification of Liquefied Petroleum Gas (LPG) for August, decreasing the commodity price by Rs29.56 per 11.8-kilogram cylinder.

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Posted on:2022-08-07T14:37:23+05:00


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