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Weekly Economic Roundup

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March 14, 2021 (MLN): The weekly economic roundup summarizes the country's key economic and financial data for the week from various sectors to keep an eye on next week's trends. 

  • The Weekly Sensitive Price Indicator (SPI) for the Combined Group decreased by 0.57% during the week ended Mar 11, 2021 while the SPI increased by 13.48% compared to the corresponding period from last year.
  • Pakistan's Forex Reserves increased by USD 24.40 Million or 0.12% and the total liquid foreign reserves held by the country stood at USD 20,157.90 Million on Mar 05, 2021.
  • Remittances continued exceptional performance in the month of February 2021, reaching $2.26 billion, up by 24.2% YoY compared to Feb'20.
  • Central Directorate of National Savings (CDNS) has received Rs 33 billion through the new launch schemes investments by March 10, from registered Premium Prize Bonds of Rs 40,000 and Rs 25000 introduced by the institution.
  • The Executive Committee of the National Economic Council (ECNEC) has approved twelve development projects worth over 267 billion rupees in various sectors including infrastructure, water and roads.
  • The State Bank of Pakistan (SBP) has relieved the 100 percent cash margin requirement on the import of certain items/raw materials to support the manufacturing and industrial sectors.
  • Overall Mid-Year Fiscal indicators have shown encouraging results as considerable growth in net revenue and effective expenditure control measures have helped contain the overall fiscal deficit to 2.5% of the GDP, according to Mid-Year Budget Review Report FY 2020-21.
  • The non-government sector has borrowed another net sum of Rs.32.65 billion during the week ended February 26, 2021, which brings the cumulative net borrowing for ongoing fiscal year FY2021 to Rs.378.99 billion. The net borrowing as of the prior week was recorded at Rs.346.34 billion.
  • The government of Pakistan has acquired an additional debt of Rs.225.58 billion during the week ended February 26, 2021, which brings its total net borrowing for the ongoing fiscal year 2021 to Rs.301.27 billion. As of the prior week, the government had borrowed a net sum of Rs.75.69 billion.
  • The total money supply circulating within the economy in January 2021 has been recorded at around Rs.25.71 trillion, according to provisional accounts on Monetary Aggregates for the month, maintained by the State Bank of Pakistan.
  • The Ministry of Commerce (MOC), on Wednesday, informed that the reduction of tyres' smuggling has resulted in increased revenues for local companies.
  • The overall power generation during the month of Jan’21 increased by 4% YoY to 8,079 Gwh compared to 70794 GWh produced in the same month last year, the latest data available on Nepra’s website revealed.
  • Central Directorate of National Savings (CDNS) has received Rs 31 billion through the new launches schemes investments by March 5, from registered Premium Prize Bonds of Rs 40,000 and Rs 25000 introduced by the institution.
  • The assets of the Non-Banking and Financial Company (NBFC) sector increased by 23.86 percent to Rs 1,412.42 billion during the financial year 2019-20 as compared to Rs 1,140.36 billion last fiscal year.

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Posted on: 2021-03-14T11:25:00+05:00

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