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Weekly Economic Roundup

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March 08, 2020 (MLN): The financial snapshot of the country is brought to light 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 0.32% during the week ended Mar 05, 2020 while the SPI increased by 11.59% compared to the corresponding period from last year.

  • Foreign Investors during the week ended February 28, 2020, took out a whopping net amount of Rs18.8 billion by selling of local securities. Prior to this, international investors were the net buyers for 19 consecutive weeks.

  • Pakistan's trade deficit for 8 months (July-February) FY20 was USD 15.77 billion compared to a deficit of USD 21.47 billion from the corresponding period from FY19.

  • The government has collected around Rs 385 billion on account of Petroleum Development Levy during the last two years to meet the country’s budgetary revenue targets.

  • The World Bank unveiled a $12 billion aid package on Tuesday that will provide fast-track funds to help countries combat the coronavirus outbreak.

  • The total industry volumes for Oil Marketing Companies (OMCs) during Jul-Feb FY20 witnessed a decline of around 8% YoY to 11.17 MTs as compared to 12.20 MTs recorded in the corresponding period of FY19.

  • The Shariah-compliant assets of Non-Banking Financial Institutions (NBFI) rose to Rs340.03 billion, representing 29.9 percent of the total NBFI sector assets up the end of the last fiscal year.

  • The Geological Survey of Pakistan (GSP) has planned to execute four projects, worth Rs 519.057 million, during the next fiscal year to assess the country’s real mineral potential, maintain its data and excel in hydrocarbon drilling activities.

  • The total Foreign Investment in Treasury bills (T-Bills) from July 1, 2019, till February 28, 2020, recorded at USD 3.09 billion, this led the overall Foreign Investment to arrive at $3.075 billion, revealed State Bank of Pakistan (SBP)’s latest data.

  • The non-government sector has borrowed another net sum of Rs.15.14 billion during the week ended February 21, 2020, which brings the cumulative net borrowing for ongoing fiscal year FY2020 to Rs.187.16 billion. The net borrowing as of prior week was recorded at Rs.172.03 billion.

  • The government of Pakistan has retired an additional sum of Rs.15.58 billion during the week ended February 21, 2020, which brings its total net retirement for ongoing fiscal year FY2020 to Rs.23.33 billion. As of prior week, the government had retired a net sum of Rs.7.76 billion.

  • Banking sector deposits grew 12% YoY from Rs 13.057 trillion in January 2019 to Rs 14.67 trillion in January 2020, revealed the latest data issued by State Bank of Pakistan (SBP) on Friday.

  • Pakistan's Yearly Inflation Rate (New Base 2015-16) in February 2020 was 12.40 percent compared to 14.56 percent in January 2020 and 6.80 percent in February 2019.

  • The government has released a sum of Rs 4.118 billion for various power projects under the annual Public Sector Development Programme (PSDP) for the fiscal year 2019-20 so far.

  • the price of 50 Kg urea bag has been reduced by Rs. 375 /- to provide relief to the farmers in line with the vision of the Government. The new price per 50kg bag of urea is fixed at Rs. 1665 /-.

  • Pakistan's Forex Reserves increased by USD 126.20 Million or 0.67% and the total liquid foreign reserves held by the country stood at USD 18,869.00 Million on Feb 28, 2020.

  • The government has released funds amounting to Rs 327.579 million during the first eight months of the current fiscal year to execute 16 Aviation Division projects under the Public Sector Development Programme (PSDP 2019-20) against the total allocation of Rs1,266.505 million.

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Posted on: 2020-03-08T12:34:00+05:00