Report
EUR 9.24 For Business Accounts Only

Pakistan Economy_Volatile food & energy prices cool off for soft Nov’20 read, (AKD Daily, Nov 17, 2020)

  • Preliminary price trends for the month of Nov’20 signal relative ease in inflationary pressures, with headline inflation expected to decline to 7.88%YoY in Nov’20 vs. 8.91%YoY  last month and 12.67%YoY in Nov’19. Sequentially, the index is likely to marginally move up by 0.39%MoM vs. 1.70%MoM in Oct’20 and 1.35%MoM in Nov’19.
  • The expected decline in inflation is mostly on account of i) price normalization in certain food items (i.e. wheat, pulses, & rice), ii) lower energy prices (i.e. both gov’t administrated POL product prices and electricity prices on account of lower Fuel Charge Adjustment (FCA)), and iii) high base effect.
  • Soft near-term inflationary backdrop (expected to decline to ~6.5%YoY by Jan’21) together with an improved external account situation would keep MPC to hold interest rates steady in the upcoming monetary policy announcement later this month.
  • Over the medium term, inflation and monetary outlooks hinge on the resumption of the IMF program and consequent timing and scale of the adjustments particularly on the energy and fiscal side. Besides, recovery in international oil prices particularly post-vaccine availability poses a major risk to inflation outlook.

AKD Research

Underlying
Inflation

Provider
AKD Securities Limited
AKD Securities Limited

AKD Securities Ltd. is one of the leading securities firm in Pakistan, providing a comprehensive range of investor focused services, including equity brokerage, economic and securities research, investment banking and financial advisory services. AKD Securities accounts for more than 6% of the average daily value of the Karachi Stock Exchange. AKD Securities was the first brokerage house to launch an online trading platform in Pakistan in November 2002 and now has the largest market share with over 6000 customers. This has helped diversify and expand the retail investor base in the country and ushered in a whole new universe of investors to the stock market.

AKD Securities Ltd. caters to a diversified group of domestic and international institutional investors, high net worth individuals and upscale retail clients, including expatriate Pakistanis. With high quality research, unparalleled execution and distribution capability for both regular and large block trades, AKD Securities Ltd. has earned an outstanding reputation in the Pakistani securities industry.Outside of commercial banks, AKD Securities Ltd. is one of the biggest capital market firms in the country. AKD Securities is the leader in raising and providing risk capital in underwriting, market making and mergers and acquisitions in Pakistan. Good corporate governance and professionalism are emphasized throughout the firm and AKD Securities Ltd. is amongst the very few companies to have introduced a firm-wide comprehensive CODE of ETHICS, overseen by an independent compliance manager.Ultimately, our success is based on the quality of service we provide to our customers and the trust and confidence reposed in us by them. Our focus, therefore, remains on customer satisfaction at all levels in the company.

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