Good Morning The central government’s debt, excluding its liabilities, increased at a double-digit pace to Rs34.5 trillion by the end of May 2020 on an annualised basis, with an average of Rs14.2 billion per day, reported the State Bank of Pakistan (SBP) on Monday. MOL group has made new hydrocarbon discovery in TAL Block. Owing… Continue reading Daily news: 15th July 2020
Author: Anum Qudsia Siddiqui
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Daily news: 14th July 2020
Good Morning Pakistan has received all-time high over $23 billion home remittances inflows during the last fiscal year (FY20). The sales of passenger cars have declined by 52 percent YoY in Jun-2020 to 8,446 units. The Pakistan International Airlines (PIA) is expected to incur losses of Rs100 billion due to suspension of international flights amid… Continue reading Daily news: 14th July 2020
Auto sales recover as lockdown eases
Total automobile sales closed the year on a relatively high note, exhibiting recovery throughout the board. Jun20’s sales are likely a reflection of easing lockdown restrictions resulting in the fulfillment of order backlogs. We believe the pent-up demand influenced growth in all major automobile segments including HCAR (+514% MoM) and INDU (+363% MoM). A yearly… Continue reading Auto sales recover as lockdown eases
Remittances surge by whooping 51% Y/Y to $2,466mn in Jun’20
•State Bank of Pakistan released the remittance numbers for Pakistan today. Inbound Remittances registered a 51% Y/Y increase to $2,466mn in Jun’20. On the monthly basis, remittances rose by 32% from USD 1,866mn in May’20 to USD 2,466mn in Jun’20. In the FY20 period, remittances increased by 6% Y/Y from USD 21.7bn to USD 23.1bn.… Continue reading Remittances surge by whooping 51% Y/Y to $2,466mn in Jun’20
Daily news: 13th July 2020
Good Morning The previous week saw the market carry on with its rising trajectory, gaining grounds for the 11th consecutive session and going past the 36k mark. We believe the recent momentum is largely a product of asset reallocation towards equities by key institutions amidst falling treasury yields. The economy is also depicting signs of… Continue reading Daily news: 13th July 2020
Daily news: 10th July 2020
Good Morning Pakistan’s total liquid foreign exchange reserves crossed $18 billion mark at the end of the last week, the State Bank of Pakistan (SBP) reported on Thursday. The country’s total liquid foreign exchange reserves posted an increase of $820 million during the last week ended on July 3, 2020 supported by bulk foreign inflows. The… Continue reading Daily news: 10th July 2020
FX Reserves Position-3rd July 2020
Daily news: 9th July 2020
Good Morning The State Bank of Pakistan (SBP) reduces markup rate to 5 percent on refinance schemes for investment and introduces other enhancements aimed to facilitate the business in Covid-19 pandemic. The federal government has put an end to the power of pharmaceutical companies to increase prices of drugs while not paying any heed to… Continue reading Daily news: 9th July 2020
Daily news: 8th July 2020
Good Morning Pakistan’s trade deficit shrank to $23.18 billion in fiscal year 2019-20 against $31.8 billion in 2018-19, registering 27 percent decline in trade balance. According to the official data released by the Pakistan Bureau of Statistics (PBS), exports fetched $21.387 billion in the last fiscal year ending on June 30, 2020 against the desired… Continue reading Daily news: 8th July 2020
