Weekly Economic Roundup

September 13, 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.

• The Weekly Sensitive Price Indicator (SPI) for the Combined Group increased by 0.37% during the week ended Sep 10, 2020 while the SPI increased by 9.04% compared to the corresponding period from last year.
• The sale of passenger cars during the month of August 2020 was recorded at 9,885 units against a total production of 7,177 units, which is around 8.3 percent higher as compared to the 9,126 units sold in the same month of last year.
• Pakistan's Forex Reserves increased by USD 118.50 Million or 0.6% and the total liquid foreign reserves held by the country stood at USD 19,961.30 Million on Sep 04, 2020.
• Pakistan's gold reserves increased by 20 percent during the fiscal year 2018-19 to $3.04 billion as compared to the preceding year's reserves of $2.534 billion, the Asian Development Bank (ADB) said in a report issued on Thursday.
• In the month of August 2020, the total deposits held by commercial banks stood all time high at Rs 16.32 trillion, depicting a growth of 17% YoY and 1.3% MoM.
• The non-government sector borrowed a net sum of Rs.970.34 million during the week ended August 28, 2020, which brings the cumulative net retirement for ongoing fiscal year FY2021 to Rs.160.97 billion. The net retirement as of prior week was recorded at Rs.161.94 billion.
• The government of Pakistan has accumulated Rs.181.95 billion during the week ended August 28, 2020, which brings its total net retirement for ongoing fiscal year FY2021 to Rs.160.06 billion. As of prior week, the government had retired a net sum of Rs.342.02 billion.
• The inaugural session for the auction of Federal Government Properties held in Islamabad in which Ministry of Privatization auctioned 5 properties in Islamabad
• The second phase of the auction of Federal Government owned Properties was held in Lahore in which Ministry of Privatization auctioned 13 Government Properties located in different parts of Lahore.
• Sazgar Engineering Works Limited (SAZEW) sold 1,222 units of Auto Rickshaw during the month of August, i.e. around 9.60% higher than the sales made in the previous month.
• The State Bank of Pakistan (SBP) announced the auction calendar for September – November 2020 in which it plans to raise Rs.3.58 trillion through the sale of Government Securities.
• UK remitted the highest $179.7 mln as profits, dividend from Pakistan in July’20.
• The Federal Government so far authorized release of Rs112.04 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.

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