IsmailIqbal Securities (Pvt.) Ltd.

IsmailIqbal Securities (Pvt.) Ltd.

2/27/2025, 4:31:28 AM

*Market Outlook* We expect the market to post a volatile session as we near the end of rollover week. On the economic front, an IMF Resilience and Sustainability Facility mission on Wednesday conducted a detailed review of Pakistan’s project selection and appraisal process across its federating units, focusing on climate resilience and sustainable development. Moreover, Pakistan and Uzbekistan on Wednesday vowed to take the volume of bilateral trade from current $400 million to $2 billion in the near future, besides agreeing to exploit the immense potential for cooperation in the fields of investment, connectivity and tourism. *Ismail Iqbal Securities*

IsmailIqbal Securities (Pvt.) Ltd.

2/27/2025, 3:27:42 AM

*MORNING NEWS* *Thursday, 27 February 2025* *IMF’s RSF mission evaluates Pakistan’s project appraisal in $1bn climate funding parleys* | An International Monetary Fund (IMF) Resilience and Sustainability Facility (RSF) mission on Wednesday conducted a detailed review of Pakistan’s project selection and appraisal process across its federating units, focusing on climate resilience and sustainable development. https://tinyurl.com/25me92zm *IMF team to visit Pakistan next week, says FM Aurangzeb* | A mission from the International Monetary Fund (IMF) will arrive in Pakistan next week, Finance Minister Muhammad Aurangzeb said on Wednesday, with a first review of a $7 billion bailout programme due in March. https://tinyurl.com/25umjvhx *Uzbek-Pak ties get boost: leaders eye $2bn trade* | Pakistan and Uzbekistan on Wednesday vowed to take the volume of bilateral trade from current $400 million to $2 billion in the near future, besides agreeing to exploit the immense potential for cooperation in the fields of investment, connectivity and tourism. https://tinyurl.com/227hcc73 *IT sector eyes $25m in exports to Qatar* | Pakistan's IT exporters plan to increase the export of IT and IT-enabled services to Qatar, a key potential market, to $25 million in the next few years. https://tinyurl.com/295lv3f8 *SBP buys $4.98bn to boost forex reserves, manage debt* | Pakistan’s central bank purchased $4.98 billion from the interbank market during June and November 2024 to increase its foreign exchange reserves and support debt management, according to the latest data from the State Bank of Pakistan. https://tinyurl.com/25kh94cp *Govt raises Rs2.25trn through Sukuk auctions since Dec 2023* | The Securities & Exchange Commission of Pakistan (SECP) has helped the government in conducting 18 auctions and raising a gross amount of Rs 2.25 trillion by issuing Ijarah Sukuk since December 2023. https://tinyurl.com/2ywn6bb8 *PD proposes Rs392.5bn PSDP for in-house projects* | The Power Division has proposed a Public Sector Development Program (PSDP) of Rs 392.5 billion for various development projects within its entities for fiscal year 2025-26. This information was presented to the National Assembly Standing Committee on Power, chaired by Muhammad Idrees. https://tinyurl.com/2axc6b2j *300 units consumption: Agriculture, domestic consumers to get benefit of FCA savings* | The government has decided to pass on the benefit of negative impact of Fuel Charges Adjustment (FCA) to agriculture consumers and domestic consumers using up to 300 units monthly. https://tinyurl.com/2549f59d *Provisional negative adjustment of FCA: Nepra urged to pass on benefit to KE consumers* | National Electric Power Regulatory Authority (Nepra) has been urged to pass on entire benefit of provisional negative adjustment of FCA of Rs 4.95 per unit to the K-Electric (KE) consumers for December 2024. https://tinyurl.com/272xvy3g *Will 18% GST on net metering slow down Pakistan’s solar boom?* | In a key development on the renewable energy front, the Federal Tax Ombudsman (FTO) ordered that solar net metering consumers in Pakistan pay an 18% sales tax. https://tinyurl.com/2ddstfvr *Tax policy office to go functional shortly: Aurangzeb* | Federal Minister for Finance Muhammad Aurangzeb Wednesday said the tax policy office, under the government economic reform agenda, will be operationalised in a few days to facilitate taxpayers. https://tinyurl.com/2crttb4c *Japanese car makers concern over delay in tax refunds* | Japanese automobile makers, Wednesday, expressed serious concerns over delay in tax refunds and problems being faced by the industry related to exports from Pakistan. https://tinyurl.com/24bu4e6n _Regards_ _Ismail Iqbal Securities_

IsmailIqbal Securities (Pvt.) Ltd.

2/27/2025, 10:51:20 AM

At the end of the trading session, PKR depreciated by 0.04% DoD against the greenback to settle at 279.72 whereas, it has depreciated by 0.42% CYTD and depreciated by 0.49% FYTD.