Financial Risk Manager

Ways of Financial and Risk Management

Economic and Business Updates - February 16 to 22, 2009
Monday, February 23, 2009

The net borrowing of the federal government soar to Rs.324.00 billion during July-February of the current fiscal as compared to Rs.249.00 billion during the same period of FY08.
A deficit of $0.40 billion in service trade has been recorded during the seven months of the current fiscal year mainly due to larger payment on account of transportation, construction, financial and royalties.
Export of non textile products soars by 24.50% and oil importer bill surges by 28.86% in the first seventh month over the same period of last year, reveals the Federal Bureau of Statistics.
The current account deficit gets reduced by 25.0% during January 2009 due to increase in services exports and decline in global commodity prices.
Net foreign investment declines by 13.00% during July–January of the current fiscal year mainly due to massive outflow from portfolio investment due to poor law and order situation and political instability.
In the auction of Pakistan Investment Bonds after 2004 due to expected cut in interest rate in April, the state bank receives Rs.55.99 billion worth bids against the targets of Rs.20.00 billion for the auction of its various long term investment bonds.
Pakistan pays $517.00 million against 5 year Euro Bond on maturity. The payment included $500 million principal and $17.00 million interest.
Pakistan repays $1.80 billion loan to international financiers and countries during the first six months of the current fiscal year.
The government decides to float term finance certificates of Rs.98.00 billion to resolve the outstanding circular debt issue. The TFCs will be available on KIBOR + 1.75%.