June 20, 2021 (MLN): The latest weekly roundup is here to update few financial and economic releases, providing a guide to monitor trends in the upcoming week.

• The Weekly Sensitive Price Indicator (SPI) for the Combined Group increased by 0.28% during the week ended Jun 17, 2021 while the SPI increased by 14.52% compared to the corresponding period from last year.
• Electricity generation in May rose by 8.3% year-on-year to 13,010 GWh, the latest data released by the National Electric Power Regulatory Authority (Nepra) showed on Saturday.
• Pakistan's trade deficit for 11months (July-May) FY21 was USD27.463 billion compared to a deficit of USD21.054 billion from the corresponding period from FY20, depicting a growth of 30% YoY.
• The World Bank’s Board of Executive Directors approved $442 million on Friday in financing to support Pakistan in improving access to water and sanitation services for the most vulnerable rural communities in Punjab province.
• Power tariff for the consumers of Ex-Wapda Distribution Companies (Discos) may come down by about 12 paisa per unit on account of monthly fuel charges adjustment for the month of May 2021.
• Foreign direct investment in Pakistan stood at $198.3 million during May 2021, showing an increase of 25% MoM against the net inflow of $158.4 million recorded in April 2021.
• Pakistan's Forex Reserves increased by USD 8.60 Million or 0.04% and the total liquid foreign reserves held by the country stood at USD 23,586.50 Million on Jun 11, 2021.
• China has retained the top position as a foreign direct investor in Pakistan during July-May FY21, with a net direct investment of $728.2 million, followed by Hongkong and the United Kingdom that invested a net $138.1 million and $130.5 million, respectively.
• Pakistan’s Power Sector has received the highest net FDI worth $856.1 million, up by 16% YoY during July-May FY21, followed by the Financial Businesses and Oil & Gas Exploration sector with net FDI of $226.7mn and $206.2mn, respectively.
• Pakistan’s domestic tractor assembling witnessed 65.36 percent growth during 10MFY21.
• The government has announced a hike in petroleum product prices for the next fifteen days. As per the notice, the Price of petrol has increased by Rs2.13/litre to stand at Rs110.69 while the price of High-Speed Diesel (HSD) has been surged to Rs112.55, up by Rs1.79/litre.
• The non-government sector has retired a net sum of Rs.42.33 billion during the week ended June 04, 2021, which brings the cumulative net borrowing for the ongoing fiscal year FY2021 to Rs.421.82 billion. The net borrowing as of the prior week was recorded at Rs.464.15 billion.
• The government of Pakistan has acquired an additional debt of Rs.358.36 billion during the week ended June 04, 2021, which brings its total net borrowing for the ongoing fiscal year 2021 to Rs.1014.73 billion. As of the prior week, the government had borrowed a net sum of Rs.656.37 billion.
• The group of 20 countries, representing the world’s biggest economies, has suspended Pakistan's debt payments of 3.17 billion dollars by the end of this year.
• The total electricity consumption by the Industrial sector during November- March FY21 has shown a growth of 15% YoY compared to the same period last year.
• Pakistan has become a Manpower Export Leader in the region despite the pandemic, as more than 224,705 Pakistanis went abroad for employment in 2020 as compared to 217,699 from Bangladesh and 94,145 from India.

Copyright Mettis Link News

41799