Pakistan's MONTHLY ECONOMIC SITUATION JANUARY, 2012
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Pakistan's MONTHLY ECONOMIC SITUATION JANUARY, 2012

Islamabad : Pakistan | Feb 24, 2012 at 4:12 AM PST
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Islamabad: February 24, 2012. According to Consumer Price Index which shows the general price trend in the country recorded at 10.1% during January 2012. Similarly food and non-food inflation is recorded at 9.3% and 10.6% respectively, while Wholesale Price Index and Sensitive Price Index stood at 8.7% and 6.8% respectively. The National Price Monitoring Committee (NPMC) headed by the Secretary Finance, along with the representatives of Provincial departments and concerned Federal Ministries/ Agencies in its month of January meeting reviewed the price and supply situation of 28 selected items of daily need. Out of 53 items, prices of 16 items increased and prices of 11 items decreased while prices of 26 items remained unchanged. During January 2012, an increase in the prices of Wheat, Rice Irri 6, Vegetable Ghee (loose), Milk Fresh, Onion, Beef, Mutton, Eggs, Chicken and L.P.G was noted, while prices of Sugar, Potatoes, Red Chilly Powder, Tomato, Garlic, Gram Pulse, Masoor Pulses and Rice Basmati (broken) etc. decreased. The world trend of the prices of commodities during the January showed a mixed trend as compared to January 2010, such as Sugar prices decrease by 20.4%, Palm oil deceased by 17%, wheat 15.8%, Tea 12.4%, DAP 11% and Urea 1.5% whereas prices of Crude oil increased by 15.4% and Rice 27.8%. Large Scale Manufacturing (LSM) sector posted a growth of 0.83% during July-December 2011, as compared to negative growth of 1.8% in the comparable period of last year. An increase in the production of Pharmaceuticals items, Leather products, Food & Beverages, Tobacco, Non-metalic mineral products, paper & Board, textile was noted while production of Iron & Steel, Rubber products, Automobile and Chemicals decreased.The Exports during the period July-January 2011-12 is recorded at US$ 14.10 billion as compared to $ 13.15 billion during the same period last year, which shows an increase of 7.2%. The Exports of textile items, food items and manufactured items have been increased. Imports during the period July-January 2011-12 recorded at $ 23.16 billion as compared to US $ 19.68 billion during the same period of last year. The major group of import remained petroleum, transport, agriculture and other chemicals and metals. workers’ remittances during July-January 2011-12 recorded at $ 7.436 billion as against $ 6.118 billion in the comparable period of last year showing an increase of 21.5 percent. The remittances from Saudi Arabia recorded a massive growth of 48.4 percent, followed by UK 27.4 percent, other GCC countries 17.2 percent, USA 15.9 percent and UAE 14.4 percent during the period under review. Average monthly remittances reveals that during the period July-January 2011-12 remittances stood at $ 1062.3 million compared to $ 874.0 million during the corresponding period of last year. Federal Bureau of Revenue tax collections during July-January 2011-12 stood at Rs. 970.8 billion as compared to Rs. 770.1 billion in the same period last year showing an increase of 26.1%.

mhsyed is based in Islamabad, Federal Capital Area, Pakistan, and is a Reporter for Allvoices.
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