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Weekly Economic Roundup

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January 19, 2020 (MLN): The latest weekly roundup is here to update the financial and economic data releases as they provide a guide to keep an eye on trends in the upcoming week.

  • The Weekly Sensitive Price Indicator (SPI) for the Combined Group decreased by 0.18% during the week ended Jan 16, 2020 while the SPI increased by 20.02% compared to the corresponding period from last year.

  • Pakistan’s current account deficit for the first six months of Fiscal Year 2020 stood at USD 2.153 Billion compared to USD 8.614 billion from the corresponding period of last year, showing an improvement of USD 6.461 Billion or 75 percent.

  • Imports into Pakistan during the month of December 2019 amounted to Rs. 625,463 million as against Rs. 612,215 million in November 2019 and Rs. 609,596 million during December 2018, showing an increase of 2.16% over November 2019 but an increase of 2.60% over December 2018.

  • Exports from Pakistan during the month of December 2019 amounted to Rs. 308,697 million, as against Rs. 312,420 million in November 2019 and Rs. 286,802 million during December 2018. This signified a decrease of 1.19% over November 2019 but an increase of 7.63% over December 2018.

  • The overall output of Large Scale Manufacturing Industries (LSMI) decreased by 5.93% during the first 5 months of FY20 compared to the corresponding period from last year.

  • China has appeared as the single heavy direct investor in Pakistan during 1HFY20, with investment valued at $422.5 million, acting as a catalyst to Pakistan’s economic reforms.

  • The non-government sector has retired a net sum of Rs.23.96 billion during the week ended January 10, 2020, which brings the cumulative net borrowing for ongoing fiscal year FY2020 to Rs.117.45 billion. The net borrowing as of prior week was recorded at Rs.141.42 billion.

  • The government of Pakistan has retired a net sum of Rs.133.5 billion during the week ended January 10, 2020, which brings its total net retirement for ongoing fiscal year FY2020 to Rs.48.94 billion. As of prior week, the government had borrowed a net sum of Rs.84.56 billion.

  • Improved macroeconomic conditions continued to increase Foreign Investors’ interest in local equity markets as according to a weekly report on Specially Convertible Rupee Accounts (SCRA) released by the State Bank of Pakistan, the gross sale of securities during the week was recorded at Rs.27.1 billion, which is around 125.3 percent higher than the figures recorded last week.

  • Foreign investment in Treasury Bills has crossed $500 million mark for the first time in a single session on January 16, with the overall investment ultimately settling at $536 million.

  • Pakistan's Forex Reserves increased by USD 38.80 Million or 0.21% and the total liquid foreign reserves held by the country stood at USD 18,123.60 Million on Jan 10, 2020.

  • The month of December turned out to be a disappointment for Pakistan, as instead of inflow of funds, the country witnessed foreign disinvestment of $198.3 million.

  • The government has so far released Rs 1.462 million to continue drilling activities for appraisal of massive coal reserves identified by Geological Survey of Pakistan (GSP) in the Badin field and its adjoining areas of southern Sindh on May 16, 2014.

  • The sale of passenger cars during the month of December 2019 stood at 9,987, units against the production of 8,373 units, i.e. around 17.16% higher than the sales of the previous month and 38.12% lower than the sales recorded in the same month of the previous year.

  • The Ministry of Planning Development and Reforms has so far authorized release of Rs 731.963 million for various uplift projects of Industries and Production Division under its Public Sector Development Program (PSDP) for the financial year 2019-20 as against the total allocation of Rs 2.343 billion.

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Posted on: 2020-01-19T14:13:00+05:00

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