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Weekly Economic Roundup

October 3, 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 National Consumer Price Index for September 2021 increased by 2.12% over August 2021 and increased by 8.98% over the corresponding month of the last year i.e. September 2020.
  • Overseas investors purchased net securities worth Rs123.2 million during the week ended September 24, 2021, whereas last week, the accounts observed a net sale of Rs.645.05 million.
  • Saudi Arabia affirmed financial support worth $3.6 billion to Pakistan to buy petroleum products or crude oil.
  • The total liquid foreign reserves held by the country stood at US$ 26,150.8 million on 24-September-2021.
  • The government on Thursday decided to increase the price of petroleum products by up to Rs8.82 per litre owing to the fluctuations in Petroleum prices in the international market and exchange rate variation in the last fortnight.
  • Premier Motors Limited (PML), a license assembly partner of the German auto giant, Volkswagen Group, will launch Skoda Crossovers, SUVs and Volkswagen premium cars in Pakistan which are expected to be on the roads by mid-2023.
  • FBR collected net revenue of Rs.1,395 billion during the first quarter of the current Financial Year against the set target of Rs. 1,211 billion, exceeding by Rs. 186 billion.
  • Adviser on Commerce Abdul Razak Dawood has said an export target of thirty-eight billion dollars has been set for the current fiscal year after consultations with the relevant stakeholders.
  • The State Bank of Pakistan has granted an extension in the deadline for encashment, conversion and redemption of prize bonds of denomination of Rs15,000, Rs25,000 and Rs40,000 for another three months.
  • Total nutrient offtake during the month of August 2021 was about 495 thousand nutrient tonnes, recording a decline of 6.7 percent over the same timeframe of 2020.
  • Urea offtake during August 2021was 649 thousand tonnes, which increased by 13.1 percent over August 2020.
  • The total DAP offtake during the month of August 2021 was recorded at 187 thousand tonnes, depicting a decline of 36.8 percent as compared to the offtake of 295 thousand tonnes in August 2020.
  • The non-government sector has borrowed a net sum of Rs.88.71 billion during the week ended September 17, 2021, which brings the cumulative net borrowing for the ongoing fiscal year FY2022 to Rs.16.94 billion. The net retirement as of the prior week was recorded at Rs.71.77 billion.
  • The government of Pakistan has retired an additional sum of Rs.63.33 billion during the week ended September 17, 2021, which brings its total net retirement for the ongoing fiscal year FY2022 to Rs.73.52 billion. As of the prior week, the government had retired a net sum of Rs.10.19 billion.
  • Multinational companies operating in Pakistan repatriated $396.4 million in profit and dividends on investments in the country during the first two months of the ongoing fiscal year which was 3% lower than the profits of $407.6mn repatriated in the corresponding period last year.
  • The Paris Club of creditor countries said that it was giving Pakistan another extension until December to service its debt so that it can dedicate its resources to combatting the Covid pandemic.

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Posted on: 2021-10-03T12:26:39+05:00

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