Macro Bites

Macro Bite # 64

3 min read

As the Dubai Expo 2020 opens its doors to the world today, so does the Pakistan Pavilion, which looks stunning, quite frankly. The exhibit aims to showcase Pakistan’s beauty through gorgeous landscapes, as well as the religious and ethnic diversity of its people. First glimpses suggest that it does a great job of capturing these themes. What is up for debate, however, is whether the Expo will help Pakistan secure any meaningful financial investment.

WEEKLY DATA WATCH

KSE-100 fell marginally this week, as the US Senate debated a bill seeking to impose sanctions on the Afghan Taliban, which could extend to Pakistan. PKR depreciated further this week, due to record growth in imports. Local gold prices rose slightly again this week, with wedding season drawing closer.

The annual change in Sensitive Price Index fell to 12.97% vs. 13.88% last week. The poorest of the country (Q1) continue to bear the brunt of increased prices, with a change of 15.00% vs. 12.82% for Q5. On a weekly basis, prices fell for all quintiles by 0.10%.

Increase in prices of Potatoes (+1.73) and Milk (+0.04%) contributed to weekly inflation. LPG (+2.27%) also contributed to rising prices this week. A fall in the price of Onions (-6.75%), Tomatoes (-12.57%) and Wheat (-2.33%) helped moderate inflation this week.

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What Else We’re Reading (Local)

  • As the dollar hits a historic high of PKR 170 in the interbank market, ratings agency Fitch predicts the dollar to reach PKR 180 in 2022. (Dawn)
  • National Foods has had a good year, raking in record profits in 2021. (Profit)

What Else We’re Reading (International)

  • Air India is finally being privatised, with Tata reportedly the winning bidder. The state-owned airline hasn’t turned a profit since 2007, sound familiar? (Bloomberg)
  • Tired of the same old options, young voters in the German elections turned their backs on the historic centre-left (SPD) and centre-right (CDU) parties. (WSJ)

Asad Pabani

Journalist, researcher and documentary filmmaker. Prior works featured in Dawn, Soch Videos and Pioneers Post.

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