February 23, 2020 (MLN): The financial snapshot of the country in full detail was highlighted with the economic and financial data releases over the course of the week.
The Weekly Sensitive Price Indicator (SPI) for the Combined Group decreased by 0.14% during the week ended Feb 20, 2020 while the SPI increased by 15.97% compared to the corresponding period from last year.
In 2019, ADB's loan and grant disbursements to Pakistan amounted to $2.4 billion, comprising $1.8 billion in program lending and $634.3 million in project lending.
The outgoing week saw an influx of funds from overseas investors, as the purchase of securities via Special Convertible Rupee Account (SCRA) exceeded the total sale of securities by Rs. 21.7 billion.
Pakistan's Forex Reserves increased by USD 11.70 Million or 0.06% and the total liquid foreign reserves held by the country stood at USD 18,747.10 Million on Feb 14, 2020.
Pakistan’s current account deficit for the first seven months of Fiscal Year 2020 stood at USD 2.65 Billion compared to USD 9.47 billion from the corresponding period of last year, showing an improvement of USD 6.825 Billion or 72 percent.
Pakistan’s trade deficit in services stood at $182 million during January 2020, showing a decline of 23% as compared to the deficit reported in December 2019.
The imports of mobile phones witnessed a significant growth of 141.65% YoY and 22.73 % MoM to stand at $144 million in the month of January 2020.
The exports of the food group witnessed a decrease of 13.51% YoY and 3.56 % MoM to stand at $409 billion in the month of January 2020.
Pakistan's outstanding debts as of January 31, 2020 stand at a massive sum of Rs.20.41 trillion whereas total debt at the end of the prior month was Rs.20.72 trillion, meaning that around Rs.311.94 billion were retired during this month alone.
The overall exports of the textile group, during the month of January 2020 stood at $ 1.19 billion i.e. around 4.59 % higher as compared to the previous month and an increase of 2.25% as compared to the same period last year.
The non-government sector has retired a net sum of Rs.32.91 billion during the week ended February 07, 2020, which brings the cumulative net borrowing for ongoing fiscal year FY2020 to Rs.140.4 billion. The net borrowing as of prior week was recorded at Rs.173.31 billion.
The government of Pakistan has accumulated Rs.36.32 billion during the week ended February 07, 2020, which brings its total net retirement for ongoing fiscal year FY2020 to Rs.3.62 billion. As of prior week, the government had retired a net sum of Rs.39.94 billion.
The central Government's domestic debt and liabilities during six months of the current fiscal year rose by Rs 944.6 billion or by 5% to Rs 21.67 trillion.
During seven months of the current fiscal year (FY20), the inflows of foreign investment into Pakistan have been utterly inspiring as it surged by a whopping 66% to $ 3.42 billion as compared to Jul-Jan FY19.
The overall exports within the transport group, during the month of January 2020, stood at nearly $116.4 million, i.e. around 26.81 percent higher as compared to the previous month and 48.11 percent lower as compared to the same period of last year.
The country’s total external debt servicing on outstanding loans soared to $3.9 billion in the 2QFY20 from $3 billion recorded in the preceding quarter of FY20, showing an increase of 27% QoQ.
Total Foreign Investment in the country in the month of January 2020 stood at USD 1.613 billion compared to a disinvestment of USD 198.3 million in December 2019.
The government has released around 50.4 percent of the total Rs 581.812 allocation during the first seven months of the current fiscal year to execute petroleum projects under the Public Sector Development Programme (PSDP 2019-20).
The government’s total external debt and liabilities increased to $111 billion by the end of December 2019, showing an increase of 12% YoY. This figure was accounted for 39.5% of the total GDP.
The attractive returns offered by government-backed securities has enticed foreign investors to invest more as the total inflows in government short-term Securities (T-bills) have exceeded USD 3.134 billion (net) since the beginning of the current fiscal year till February 13, 2020.
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