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Weekly Economic Roundup

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May 03, 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.

  • Pakistan's Yearly Inflation Rate (New Base 2015-16) in April 2020 was 8.53 percent compared to 10.20 percent in March 2020 and 8.30 percent in April 2019.

  • The federal government on Thursday announced to reduce the prices of petrol by Rs15 per litre for the month of May 2020 to provide relief to the consumers.

  • Pak Rupee's Real Effective Exchange Rate Index (REER) decreased by 0.98 percent in March 2020 to a provisional value of 96.27 from the revised value of 97.22 in February 2020.

  • Pakistan's Forex Reserves increased by USD 1,162.70 Million or 6.72% and the total liquid foreign reserves held by the country stood at USD 18,463.00 Million on Apr 24, 2020.

  • Pakistan has acquired $6.56 billion foreign assistance in the 8MFY20 from multilateral, bilateral, Saudi Arabia-Short term loans as well as Commercial Banks.

  • The non-government sector has retired a net sum of Rs.11.17 billion during the week ended April 17, 2020, which brings the cumulative net borrowing for ongoing fiscal year FY2020 to Rs.324.74 billion. The net borrowing as of prior week was recorded at Rs.335.91 billion.

  • The government of Pakistan has acquired an additional debt of Rs.72.38 billion during the week ended April 17, 2020, which brings its total net borrowing for the ongoing fiscal year 2020 to Rs.1,032.79 billion. As of prior week, the government had borrowed a net sum of Rs.960.4 billion.

  • Total fertilizer nutrient offtake during March 2020 was about 227 thousand tonnes, which represents a decrease of 10.8 percent over March 2019.

  • The overall DAP offtake during March 2020 was about 79 thousand tonnes, which recorded an increase of 21.0 percent over March 2019.

  • Total urea offtake during March 2020 was about 303 thousand tonnes, which exhibited a decrease of 25.9 percent over March 2019.

  • The Executive Committee of the National Economic Council (ECNEC) on Thursday approved Rs249.91 billion four major projects to improve the road infrastructure, human capital, agriculture, and water reservoirs.

  • The Government of Pakistan and the Asian Development Bank signed a concessional loan agreement amounting to USD $ 15 million. This concessional loan is a Project Readiness Financing Facility for engineering and designing urban development projects in seven (7) major cities across Punjab, as identified by the provincial government.

  • The government has released funds amounting to Rs 298.183 million during the first 10 months of the current fiscal year to execute six petroleum projects under the Public Sector Development Programme (PSDP 2019-20) against the total allocation of Rs 581.812 million.

  • The federal government has so far released Rs 526.3 billion for various ongoing and new social sector uplift projects under its Public Sector Development Programme (PSDP) 2019-20, against the total allocation of Rs701 billion.

  • The Central Directorate of National Savings (CDNS) has achieved a collection net target of Rs169 billion by April, 24 of the fiscal year 2019-20.

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Posted on: 2020-05-03T11:48:00+05:00

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