October 25, 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 0.23% during the week ended Oct 22, 2020 while the SPI increased by 8.76% compared to the corresponding period from last year.

• Pakistan remained on the grey list of the Financial Action Task Force (FATF) as it has been unable to comply with 6 of the 27 points in the global watchdog’s action plan, says President FATF, Dr. Marcus Pleyer, while addressing a press conference at Paris on Friday.

• The gross sale of securities by overseas investors during the week ended October 16, 2020 was recorded at Rs.9.6 billion, which is only 3.6 percent higher than the figures recorded last week.

• Pakistan's Forex Reserves increased by USD 286.10 Million or 1.5% and the total liquid foreign reserves held by the country stood at USD 19,301.60 Million on Oct 16, 2020.

• The non-government sector has borrowed a net sum of Rs.18.31 billion during the week ended October 16, 2020, which brings the cumulative net retirement for the ongoing fiscal year FY2021 to Rs.122.85 billion. The net retirement as of the prior week was recorded at Rs.141.15 billion.

• The government of Pakistan has retired Rs.187.48 billion during the week ended October 16, 2020, which brings its total net borrowing for the ongoing fiscal year 2021 to Rs.72.04 billion. As of the prior week, the government had borrowed a net sum of Rs.259.52 billion.

• Economic Coordination Committee (ECC) decided that the supply of RLNG shall continue to Agritech and Fatima Fertilizer for the Rabi Season 2020-21 till the end of November 2020.

• The World Bank’s Board of Executive Directors approved $304 million in financing for Punjab Resource Improvement and Digital Effectiveness Program (PRIDE). The program supports efficiencies in public resource management that generate savings and create fiscal space for growth-generating investments in the Punjab province.

• Pakistan’s Current Account was in surplus of $73 mn during Sept, bringing surplus for 1QFY21 to $792 million compared to a deficit of $1,492 million during the same time last year.

• Pakistan’s trade deficit in services stood at $77 million during the month of September, signifying an increase of 6% as compared to the previous month and 20% as compared to the same period of last year.

• The imports of vehicles from foreign countries increased by 43% MoM to USD 152 million during the month of September 2020, compared to USD 106 million in August 2020, revealed trade figures released recently by the Pakistan Bureau of Statistics (PBS).

• The exports of Chemical and Pharmaceutical Products witnessed an increase of 26.46% MoM and 4% YoY to value at USD 82.98 million during the month of September 2020.

• Pakistan's outstanding debts as of September 30, 2020 stand at a heaping sum of Rs.23 trillion whereas total debt at the end of prior month was Rs.22.67 trillion, meaning that around Rs.332.42 billion were additionally borrowed during this month alone.

• The total exports from Pakistan during the month of September 2020 amounted to Rs. 313.3 billion, showing an increase of 17.97% as against Rs. 265.6 billion in August 2020 and of 13.64% against Rs. 275.7 billion in September 2019.

• The overall imports into Pakistan during the month of September 2020 amounted to Rs. 716.7 billion, showing an increase of 28.89% against Rs. 556 billion in August 2020 and 21.86% as compared to Rs. 588.1 billion in September 2019.

• Pakistan’s trade deficit during 1QFY21 drastically increased by 2.6% YoY to USD 5.84 billion as exports depicted a meagre decline of 65 bps to USD 5.47 billion compared to 1QFY20, whereas, imports during the period increased by 1% YoY to USD 11.3 billion compared to the same quarter last year, shows recently published PBS data.

• China emerged as the largest direct foreign investor in Pakistan during September 2020, with a net direct investment of $97 million, followed by the Hongkong and Malta who invested $22.8 million and $18.5 million respectively, according to SBP data issued.

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