Saad Ali

Intermarket Securities

Head of Research @ Intermarket Securities

Saad has over 7 years’ experience covering Pakistan energy for sell- and buy-side firms. As IMS’s Head of Research and Economist, he supervises a team of five analysts and is the lead analyst for the oil & gas sector of Pakistan. Prior to IMS, he worked for KASB Securities (local affiliate of Bank of America Merrill Lynch) and Al Meezan Investments (largest Islamic Asset Manager in Pakistan).

Saad Ali
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Latest from Saad Ali

Pakistan Economy: March CPI expected to rise to 13.1%, highest since Jan 2020

National CPI is expected to clock in at 13.1% yoy in March 2022, up from 12.2% in February – majorly affected by higher Food and Transport indices. Food inflation will be the major contributor to sequentially higher CPI; it is expected to rise by 2.5...
Intermarket Securities
Saad
Saad Ali @ Intermarket Securities 22 March 2022

Pakistan: OGDC and PPL venture into the promising Reko Diq mining project

Oil & Gas Development Co. (OGDC) and Pakistan Petroleum Ltd (PPL) have entered into a non-binding agreement with the Government of Pakistan (GoP), Government of Baluchistan (GoB) and Barrick Gold Corporation to participate in the reconstituted Reko D...
Intermarket Securities
Saad
Saad Ali @ Intermarket Securities 21 March 2022

Pakistan Economy: Balance of payments Feb'22 – Lowest CAD in the past 10 months

As per SBP data, Pakistan’s current account deficit (CAD) dropped to US$0.5bn in February 2022, down 78% mom. This took the deficit during 8MFY22 to a whopping US$12.0bn (against a surplus of almost US$1.0bn SPLY). The considerable decline was led by...
Intermarket Securities
Saad
Saad Ali @ Intermarket Securities 21 March 2022

Pakistan Economy – SBP keeps the Policy Rate at 9.75%

The State Bank of Pakistan (SBP) has maintained the policy rate at 9.75%, against our expectation of a 50-75bps hike. The decision is supported by improved outlook on inflation following recent cuts in fuel prices and electricity tariffs (also deemed...
Intermarket Securities
Saad
Saad Ali @ Intermarket Securities 8 March 2022

Pakistan Economy – MPS Preview: Expect the SBP to resume monetary tightening

In March monetary policy meeting (due tomorrow), we expect the State Bank of Pakistan (SBP) to raise the policy rate by 50-75bps from 9.75% to 10.25-10.50%. The SBP has hitherto guided that it will look through transitory changes in inflation and is ...
Intermarket Securities
Saad
Saad Ali @ Intermarket Securities 7 March 2022

Pakistan: CPI rose by 12.2% in February; in line with expectation

National CPI for February 2022 clocked in at 12.2% yoy, in line with our expectation. Core inflation (NFNE): Urban core inflation decelerated in February to 7.8% yoy from 8.2% in January (up 0.8% mom); whereas, Rural core inflation has increased to 9...
Intermarket Securities
Saad
Saad Ali @ Intermarket Securities 1 March 2022

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Saad Ali
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