Much of this divestment impact has to do with the trend of foreign outflows leaving the country that has continued unabated since late February 2020. Foreign investors divested $54 million worth of treasury bills (T-bills) on April 13, as per the Special Convertible Rupee Account (SCRA), which tracks inflows and outflows from foreign countries. Previously, foreign investors divested $82 million worth of T-bills on April 8; divested $73 million worth of T-bills on April 6; and divested $48 million worth of T-bills on April 1. But in March, foreign outflows, or ‘hot money’ began to leave the country just as quickly as they had poured in, mostly due to investor worry about the COVID-19 outbreak. The reduction in the policy rate is expected to further exacerbate foreign outflows.

Source: Pakistan Today April 14, 2020 16:52 UTC