Macro Analysis /
Pakistan

Pakistan Mini Budget – inflationary but should help contain twin deficits

  • The PTI govt. presented the Mini Budget in parliament, aiming to remove tax exemptions and fulfill IMF condition

  • The Budget is neutral for most listed sectors except Auto OEMs, while some feared measures were skipped

  • We expect to react moderately positively to the event, as it draws Pakistan closer to resuming the IMF program

Saad Ali
Saad Ali

Head of Research

Contributors
Abdul Ghani Mianoor
Rahul Hans
Yusra Beg
Intermarket Securities
31 December 2021