MONETARY POLICY (NOV 21, 2015)

 Interest rate 6.0%

 Inflation 1.7% (The average Jul-Oct FY16)

Economic Survey 2014-15

 GDP 4.24
 Inflation (CPI) 4.8%
 Unemployment rate 6%
 literacy rate 58%
 Education budget 2.1% of GDP
 Health budget 0.42% of GDP
 The agriculture sector accounts for 20.9 percent of GDP and 43.5 percent of
employment.
 The industrial sector contributes 20.30 percent in GDP
 Industrial sector continued growth process and recorded growth at 3.62
 The share of the services sector has reached to 58.8 percent in 2014-15
 The Services sector has witnessed a growth rate of 4.95 percent
 The per capita income in dollar terms has reached to $1,512 in 2014-15 (growth of 9.25
%)
 FDI inflow has reached to $2057.3 million
 the remittances for the period of July-April 2014-15 stood at $ 14969.66 million
 Foreign exchange reserves improved substantially and reached US $ 17.8 billion by end
of April 2015,
 As per SBP data exports during the first ten month (July-April) of the current year stood
at US$ 20,176 million against US $ 20,834 million during corresponding period last
year.
 Imports during the first ten months (July-April) declined by 1.6 percent compared with
the same period last year and stood at $ 34,086 million against $34,645 million same
period last year.
 Total investment is recorded at 15.12 percent of GDP
 National savings are 14.5 percent of GDP
  Public debt was recorded at Rs.16,936 billion or 61.8 percent of GDP as at end-March
2015
 Tax to GDP ratio 9.7%
 Direct taxes 837.5 Billion
 Indirect taxes 1196.5 Billion

Budget 2015-16

 The total outlay of budget 2015-16 is Rs 4,451.3 billion.

 The share of current and development expenditure respectively in total budgetary outlay
for 2015-16 is 78.2% and 21.8%
 The net revenue receipts for 2015-16 have been estimated at Rs 2,463.4 billion
 Fiscal deficit 5% of GDP
 Trade deficit 0.7% of GDP

 Recently, Moody's Investor Service has upgraded Pakistan’s credit rating by a notch,
and assigned a stable outlook.
 Pakistan is the 7th largest remittances recipient.
 Statutory Liquidity Reserve (SLR) is governed under Section 29 of the BCO, 1962.
Presently it is being monitored at 20% of the Total Demand & Time Liabilities of a
Scheduled Bank. This 20% is comprised of 5% on account of Cash Reserve
Requirement and 15% on account of Statutory Liquidity Requirement.
 DFI’s are required to maintain SLR of 14% and Cash Reserve of 1%.
 Capital Adequacy Ratio (CAR) 15%
 Minimum paid up capital for bank is Rs 23 Billion.