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Weekly Economic Roundup

 

March 01, 2020 (MLN): Weekly economic roundup summarizes the country’s key economic and financial data for the week from different sectors to keep an eye on trends in the upcoming week. 

  • The Weekly Sensitive Price Indicator (SPI) for the Combined Group decreased by 1.16% during the week ended Feb 27, 2020, while the SPI increased by 14.6% compared to the corresponding period from last year.

  • The government on Saturday reduced the petrol prices by Rs.5 per liter to provide relief to the consumers.

  • Pakistan’s import bill has come down by 11% YoY and 3% MoM during the first month of the current fiscal year to $3.92 billion against $3.8 billion in Dec 2019 and $4.42 billion in January 2019.

  • In the month of January 2020, USA remained the top export destinations for Pakistani products as its share of imports in Pakistan's overall exports accounted for 17.8% i.e. $366.2 million, up by 5% YoY and 11% MoM.

  • Pakistan and the European Union have signed an agreement worth thirteen million Euros, for public financial management.

  • Pak Rupee's Real Effective Exchange Rate Index (REER) increased by 0.91 percent in January 2020 to a provisional value of 96.59 from the revised value of 95.72 in December 2019.

  • Pakistan's Forex Reserves decreased by USD 4.30 Million or 0.02% and the total liquid foreign reserves held by the country stood at USD 18,742.80 Million on Feb 21, 2020.

  • The outstanding loans to private sector businesses by the end of January 2020 increased slightly by 1% MoM to Rs.5.3 trillion as compared to the previous month. Whereas, in the month of January 2019, it stood at Rs.5.198 trillion, demonstrating only a 3% increase YoY.

  • Profits and dividends repatriated by Pakistani sectors during January 2020 stood at $110.3 million, showing a decrease of 34% as compared to the previous month and 30% as compared to the same period of last year.  

  • The Banking sector spread for January 2020 mitigated by 37 basis points (bps) over the month which brings its latest value to 5.70% as compared to the prior month's spread of 6.07%. On the other hand, the spread has dilated by 28 bps as compared to the same period last year.

  • The export of pharmaceutical goods from the country witnessed an increase of 4.49 percent during the first seven months of the current financial year (2019-20) as compared to the export of the corresponding period of last year.

  • The gold imports into the country increased by 3.61 percent during the first seven months of the current financial year (2019-20) as compared to the corresponding period of last year.

  • The non-government sector has borrowed another net sum of Rs.31.62 billion during the week ended February 14, 2020, which brings the cumulative net borrowing for ongoing fiscal year FY2020 to Rs.172.03 billion. The net borrowing as of prior week was recorded at Rs.140.4 billion.

  • The government of Pakistan has retired an additional sum of Rs.4.14 billion during the week ended February 14, 2020, which brings its total net retirement for ongoing fiscal year FY2020 to Rs.7.76 billion. As of prior week, the government had retired a net sum of Rs.3.62 billion.

  • The Central Directorate of National Savings (CDNS) has achieved a collection net target of Rs139 billion by February, 21 of the fiscal year 2019-20.

  • The Federal government has so far authorized the release of Rs 456.37 billion for various ongoing and new social sector uplift projects under its Public Sector Development Programme (PSDP) 2019-20, as against the total allocation of Rs 701 billion.

  • The overall DAP offtake during January 2020 stood at 44 thousand tonnes, registering a decrease of 41.4 percent as compared to January 2019.

  • Urea offtake during January 2020 was 262 thousand tonnes, witnessing a decrease of 53.6 percent as compared to the same month of last year.

  • The total nutrient offtake during January 2020 was about 177 thousand tonnes, as compared to 362 thousand tonnes during January 2019, showing a decrease of 51.0 percent.

Copyright Mettis Link News

Posted on: 2020-03-01T13:04:00+05:00

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