Sunday, September 25, 2022

FATF’s another deadline, IMF bailout- Equity market to play in green


Muzammil Aslam
Muzzammil Aslam has over 15 years of experience in the fields of Economics, Equity Research, Business Development and Financial / Capital markets. Worked as Ex- Chief Executive Officer, EFG Hermes Pakistan Limited. Heading brokerage and inter-bank business and company affairs. He was engaged with KASB Securities Ltd. as Head of Business Development from 2004 to 2009 and with JS Global Capital Ltd. as Head of Business Development and Head of Research from 2009 to 2012. Thereafter, he has been managing his own economic research consultancy firm "Emerging Economics Research". Further, his work on economics has been actively pursued by key government institutions. By qualification, Mr. Aslam holds Bachelor of Commerce and Master of Public Administration Degrees from the University of Karachi, MAS Degree in Economics from Applied Economics Research Centre, University of Karachi and Master of Science Degree in Economics from the University of Bath, United Kingdom. Contact: [email protected]

It would be interesting to see how market will treat FATF news. FATF has given one more deadline to implement CFT (Counter Terrorism Financing). Simultaneously, appreciated government commitment to eliminate infrastructure of ML (Money Laundering). Importantly, FATF will decide to delist Pakistan from grey list, compared to its earlier stance of upgrading Pakistan name to Black list from Grey list.


This is big success in such a short-time notice. Since the risk of getting into Black list is almost over, in my view, market in general and foreign participants in particular should work to increase their stakes in Equities


1- Rollover, week is over so locals should also price in FATF, improved CAD in January and forward earnings


2- We may start to hear more news flow from IMF side and fast convergence of agreed policy actions steps between Pakistan authorities and IMF


3- big break through expected between China- US trade deal


4- Lastly, softness from across the border. Already Modi has changed his aggressive tone and offer to fight war against poverty to Pakistan Prime Minister.


5- Economic Reform Package likely to approve from the parliament in upcoming week.


6- Malaysian and Turk leaders to visit Pakistan for some big announcements. There are positive signs in near future.


Read also: Pakistan sails between FATF and IMF smoothly

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