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Weekly Economic Roundup

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November 15, 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 0.07% during the week ended Nov 12, 2020 while the SPI increased by 7.68% compared to the corresponding period from last year.
  • The total money supply circulating within the economy in September 2020 has been recorded at around Rs.25 trillion, according to provisional accounts on Monetary Aggregates for the month, maintained by the State Bank of Pakistan.
  • State Bank of Pakistan (SBP) has decided to reduce the reflection period of written off/waived loans and advances for corporate borrowers in the Electronic Credit Information Bureau (eCIB) of SBP from 15 years to 10 years.
  • The overall output of Large Scale Manufacturing Industries (LSMI) increased by 4.81% for July-September 2020-21 compared to July-September 2019-20.
  • Pakistan's Forex Reserves increased by USD 553.30 Million or 2.86% and the total liquid foreign reserves held by the country stood at USD 19,906.90 Million on Nov 06, 2020.
  • The pace of foreign selling from Pakistan’s debt market slowed down by Rs 208 million during the week ended November 06, 2020. The foreign investors pulled out Rs 3.06 billion from the local markets via SCRA.
  • The non-government sector has borrowed a net sum of Rs.59.53 billion during the week ended October 30, 2020, which brings the cumulative net retirement for the ongoing fiscal year FY2021 to Rs.52.22 billion. The net retirement as of the prior week was recorded at Rs.111.75 billion.
  • The government of Pakistan has acquired an additional debt of Rs.112.7 billion during the week ended October 30, 2020, which brings its total net borrowing for the ongoing fiscal year 2021 to Rs.142.78 billion. As of the prior week, the government had borrowed a net sum of Rs.30.08 billion.
  • Workers’ remittances remained above $ 2.0 billion for the fifth consecutive month in October 2020.
  • Pakistan’s total external debt servicing (principal and interest) by the government in 1QFY21 increased to a total of $3.59 billion from $3 billion in the same quarter of FY20, showing a growth of 17% YoY.
  • The sale of passenger cars during the month of October 2020 was recorded at 11,997 units against a total production of 11,601 units, showing a marginal growth of 1% MoM as compared to the 11, 860 units sold in September 2020.
  • The federal government has released Rs 53,432.308 million for National Highway Authority (NHA) projects under the Public Sector Development Programme (PSDP) 2020-2021.
  • NEPRA made a landmark decision by approving the detailed design and the implementation plan of the Competitive Trading Bilateral Contract Market (CTBCM) to make the competitive wholesale electricity market operational by April 2022.
  • The total debt of the Central Government during the month of September 2020 stood at Rs. 35.68 trillion, i.e.7% percent higher than the figures reported last year in Sep’19. Whereas, on a monthly basis, the debt figure remained static.
  • The exports of COVID-19 related products including Remdesivir have surged in October 2020. Pakistani health care products have reached over 14 countries, creating new markets and enhancing the image of brand Pakistan.
  • The overall power production during the month of September’20 decreased by 4%YoY and 10% MoM to 13,104 Gwh.
  • The National Electric Power Regulatory Authority (NEPRA) has increased Rs. 0.4828 per unit in the electricity tariff on Monday.
  • OGRA has started issuing licenses for new CNG outlets to those who fulfill all the formalities while the ban on import of CNG kits has also been lifted and import duty, as well as sales tax has been slashed to promote its imports.

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Posted on: 2020-11-15T16:32:00+05:00

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