August 27, 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.

• The country’s overall nutrients offtake fell by 34% to 310,000 tonnes during July 2022 compared to the same month last year.
• The Weekly Sensitive Price Indicator (SPI) for the Combined Group increased by 1.83% during the week ended Aug 25, 2022.
• The total liquid foreign exchange reserves held by the country decreased by $92million or 0.7% WoW to stand at $13.5 billion during the week ended on August 19, 2022, compared to $13.6bn in the previous week.
• The inflow of foreign direct investment (FDI) into Pakistan during July stood at $59 million against the inflow of $103.8mn recorded in the same month a year ago, down by 39% YoY.
• Pakistan received fresh external loans of $185.61 million in the first month of FY23 i.e., July 2022 from multiple financing sources against the annual budget estimates of $22.82 billion for the entire fiscal year FY23.
• The State Bank of Pakistan (SBP) on Wednesday raised Rs828 billion through the auction of three, six, and twelve-month T-bills against the target of Rs750bn.
• The Real Effective Exchange Rate (REER) index was recorded at 93.16 in July 2022, showing a drop of 0.87% compared to 93.97 in June 2022.
• Pakistan’s trade deficit in services improves by around 62% MoM to $260 million in July 2022 from $682mn in the previous month.
• The current account deficit (CAD) shrank to $1.2 billion in July 2022 from $2.2bn in June 2022, largely reflecting a sharp decline in energy imports & a continued moderation in other imports.
• Automobile financing in Pakistan increased by 14.87% YoY in July 2022 to stand at Rs360.5 billion, compared to Rs313.86bn in the same month last year.
• The Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) in its meeting held on August 22, 2022, decided to maintain the policy rate at 15%.
• Pakistan’s overall fiscal deficit in FY22 stood at 7.9% of GDP (Rs5.3trillion) against Rs3.4tn in FY20, showing a colossal surge of around Rs2tr or 55% YoY.
• Total power generation in the country decreased by 9.8% YoY to 14,151 GWh during July 2022 at a cost of Rs10.71 per unit, compared to 15,680 GWh in Jul 2021 at the cost of Rs6.47 per unit.

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Posted on:2022-08-27T14:42:38+05:00

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