Pakistan Budget FY21 Update: Proposed duty reductions and its impact on companies
- The Federal Govt. in line with the National Tariff Policy 2019 has proposed to eliminate Additional Custom Duties (ACD) on nearly 1,600 items and reduce Custom Duties (CD) on ~200 items in a bid to promote ease of doing business in the country.
- In post budget speech, Advisor to PM, Hafeez Shaikh told that this move will cost the national exchequer in the range of Rs40-50bn. We have extracted few items from the list, which can potentially improve profitability/cashflows of the listed companies.
Topline Securities is one of the fastest-growing brokerage houses in Pakistan. It has strong Equity Brokerage, Economic/ Equity Research, Commodity Trading and Corporate Finance & Advisory functions.
Topline Securities has been endowed with numerous awards by renowned international financial organizations. The highlights of which consists of the award for ‘Best Local Brokerage House of Pakistan’ by Asiamoney Brokers Poll (the largest Asia-focused equity services provider poll) in 2016 and ‘Best Equity Brokerage House’ by CFA Society Pakistan in 2015.
Previously, Topline Securities held the title for ‘Best Brokerage House’ for 4 consecutive years (2011-2014) by Asiamoney Brokers Poll. Other awards include the ‘Best Salesperson’ award by Asiamoney for 6 consecutive years (2011-2016), the ‘Arabia Fast Growth 500’ award and ‘Pakistan Fast Growth 100’ award in 2012 and 2013 by AllWorld Network.
JCR-VIS, a credit rating agency providing independent rating services in Pakistan has assigned initial rating of “A-2” for short term and “A” for long term to Topline Securities. Topline Securities is registered as Underwriter, Book Runner and Research Entity with Securities & Exchange Commission of Pakistan (SECP).
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