September 6, 2020 (MLN): The financial snapshot of the country in full detail is highlighted with the economic and financial data releases over the course of the week.

• Pakistan's Yearly Inflation Rate (New Base 2015-16) in August 2020 clocked in at 8.21 percent compared to 9.30 percent in July 2020 and 10.50 percent in August 2019.
• The Weekly Sensitive Price Indicator (SPI) for the Combined Group increased by 0.80% during the week ended Sep 03, 2020 while the SPI increased by 9.47% compared to the corresponding period from last year.
• Cement despatches in August 2020 have increased by 5.04 percent from 3.351 million tons in August 2019 to 3.520 million tons. However, it was much less than the despatches of 4.838 million tons in July 2020.
• Pakistan's Forex Reserves increased by USD 120.40 Million or 0.61% and the total liquid foreign reserves held by the country stood at USD 19,842.80 Million on Aug 28, 2020.
• The overall volumetric sales of Oil and Marketing Companies (OMCs) in Pakistan declined by 7% MoM and improved by 21% YoY in August 2020 to stand at 1.55 MTs.  
• The government of Pakistan retired an additional sum of Rs.85.2 billion during the week ended August 21, 2020, which brings its total net retirement for ongoing fiscal year FY2021 to Rs.342.02 billion. As of prior week, the government had retired a net sum of Rs.256.81 billion.
• The non-government sector retired another net sum of Rs.31.05 billion during the week ended August 21, 2020, which brings the cumulative net retirement for ongoing fiscal year FY2021 to Rs.161.94 billion. The net retirement as of prior week was recorded at Rs.130.89 billion.
• Government’s total debt and liabilities increased to Rs 44.563 trillion in FY20, showing an increase of Rs 4.34 trillion or 11% YoY when compared to FY19.This has increased the country’s debt as a percentage of GDP to 106.8% in FY20 from debt to GDP ratio of 105.9% of FY19.
• The federal government authorized release of Rs105.24 billion for various ongoing and new social sector uplift projects under its Public Sector Development Programme (PSDP) 2020-21, as against the total allocation of Rs650 billion.
• Federal Board of Revenue (FBR) collected Rs.593 billion against the revenue target of Rs. 551 billion in first two months of current FY2.
• Pakistan’s exports declined by 19.5 percent in August 2020 due to supply chain affected owing to unprecedented monsoon rains, Advisor to the Prime Minister on Commerce, Textile and Industry, Abdul Razzak Dawood informed via his official Twitter handle.
• Pakistan's trade deficit for 2 months (July-August) FY21 clocked in at USD 3.38 billion compared to a deficit of USD 3.69 billion from the corresponding period from FY20.
• Advisor to the Prime Minister on Commerce, Textile and Industry, Abdul Razzak Dawood announced that the export of tractors by Millat Tractors Limited has reached over 1000 units for the year 2019-20

Copyright Mettis Link News

36736