Weekly economic collection | Mettis global link

August 21, 2022 (MLN): The Economic Summary includes recent economic developments and financial data released during the week to monitor next week’s trend.

The Sensitive Price Indicator (SPI) for the combined group witnessed a 3.35% increase in WoW for the week ended August 18, 2022. Pakistan’s Consumer Confidence Index (CCI) rose 10.5% in Q1 2022 to 85 .1, compared to 77 in Q4 2021, indicating an improvement in sentiment regarding the performance of the new government. Total deposits held by scheduled banks have grown at about 17.3% year-on-year to about Rs 21.1 trillion in July 2022, from Rs 18.8 trillion in the same month of last year due to strong foreign inflows . The country’s total liquid foreign exchange reserves increased $52.2 million or 4% WoW to $13.61 billion during the week ending August 12, 2022, compared to $13.56 billion in the previous week. The oil import bill was recorded at $1.43 billion in July 2022, down 60.54% MoM compared to $3.63 billion in June 2022 – the lowest since February 2022. Pakistan’s textile exports were $1.48 billion in the first month of FY23, down 13.2% MoM, compared to $1.71 billion in the same month last fiscal year. Employee remittances fell 8.6% to $2.52 billion in July ’22, from $2.76 billion the previous month. The output of the Large Scale Manufacturing Industries (LSMI) was up 11.5% yoy on June 22, as the LSMI Quantum Index Number (QIM) stood at 130.9 points, up from 117.4 points in June 2021. reached a total of $15.1 billion at the end of FY22, a 12% year-over-year increase compared to FY21. The government raised the petrol price by Rs 6.72 per liter for the next two weeks to Rs 233.91 per liter. Pakistan’s external debt and liabilities (outstanding) reached $130.2 billion (40% of GDP) at the end of FY22, up $7.9 billion or 6% year-on-year. The Central Directorate of National Savings (CDNS) has reached the target of issuing Rs 100 billion new bonds in the first month of the current fiscal year 2022-23 from July 1 to July 31, 2022.

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