Weekly Economic Roundup

February 02, 2020 (MLN): The latest weekly roundup is here to update the financial and economic data releases as they provide a guide to keeping an eye on trends in the upcoming week.

  • Pakistan's Yearly Inflation Rate (New Base 2015-16) in January 2020 was 14.56 percent compared to 12.63 percent in December 2019 and 5.60 percent in January 2019.

  • The Weekly Sensitive Price Indicator (SPI) for the Combined Group decreased by 0.36% during the week ended Jan 30, 2020, while the SPI increased by 18.68% compared to the corresponding period from last year.

  • The Federal Board of Revenue (FBR) collected revenues of Rs320 billion in January 2020, showing an increase of 17% over the same month of last year.

  • The Monetary Policy Committee (MPC) of the State Bank of Pakistan (SBP) in its meeting held on January 28, 2020 in Karachi, has decided to maintain the Policy Rate at 13.25 percent.

  • Foreign Investors’ confidence remained intact in local equity markets during the week ended January 24, 2020 as the total purchase of securities outweighed total sale by nearly Rs. 48 billion i.e. around Rs.54.5 billion lower than last week's numbers.

  • Pakistan's Forex Reserves increased by USD 91.70 Million or 0.5% and the total liquid foreign reserves held by the country stood at USD 18,362.70 Million on Jan 24, 2020.

  • The total Foreign Investment in Treasury bills (T-Bills) from July 1, 2019, till January 30, 2020, reached $2.909 billion, revealed State Bank of Pakistan (SBP)’s latest data released today.

  • Savings mobilization by the National Savings Schemes (NSS) during July- Dec 2019 clocked in at Rs 111.8 billion, 54% higher than the amount of savings mobilized in July- December 2018.

  • The Asian Development Bank (ADB) has approved a $15 million loan that will help seven cities in Punjab province in Pakistan design comprehensive investment and public service delivery plans in preparation for upcoming urban development projects.

  • The Ministry of Planning Development and Reforms has so far given the authorization to release Rs5,925.588 million 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 Rs10,587.380 million.

  • The government has released funds amounting to Rs 293.257 million during the first seven months of the current fiscal year to execute petroleum projects under the Public Sector Development Programme (PSDP 2019-20) against the total allocation of Rs581.812 million.

  • CDWP approved 06 projects worth Rs. 10.3 billion and recommended 02 projects worth Rs. 30.86 billion to ECNEC for consideration.

  • Capital Development Authority (CDA) in line with its policy to complete the development works in the stalled sectors, has approved Rs. 210.552 million for installation and provision of the gas network in residual areas of sector I-14.

  • The non-government sector has borrowed another net sum of Rs.6.14 billion during the week ended January 24, 2020, which brings the cumulative net borrowing for ongoing fiscal year FY2020 to Rs.140.95 billion. The net borrowing as of prior week was recorded at Rs.134.81 billion.

  • The government of Pakistan has retired an additional sum of Rs.3.13 billion during the week ended January 24, 2020, which brings its total net retirement for ongoing fiscal year FY2020 to Rs.95.01 billion. As of prior week, the government had retired a net sum of Rs.91.87 billion.

  • The Oil and Gas Regulatory Authority (OGRA) on Friday issued a price-revision notification of Liquefied Petroleum Gas (LPG) for the month of February. According to the notification, the authority has decreased the locally produced LPG price by Rs. 111.27 per cylinder of 11.8 kilograms.

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Posted on: 2020-02-02T13:27:00+05:00

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