KARACHI: Pakistan's economic outlook has improved since the start of this fiscal year, experts said in a Market Outlook event, “Navigating Market Trends & Investment Opportunities” organised by Standard Chartered in Karachi.
This was the third session in a series of market outlook events that the Bank hosts for its clients throughout the year.
The event brought together the Bank’s Affluent clients, leading economists, and experts from its product partners to discuss the prevailing global and local economic landscape, and share insights on the future of financial markets.
Saadya Riaz, Head, Wealth & Retail Banking, Standard Chartered Pakistan in her keynote address said that SC is committed to providing our Affluent clients with actionable insights into the current economic landscape, enabling them to identify and seize opportunities in today’s markets in light of macro developments.
"By offering expert perspectives on key trends such as global monetary policies, local economic developments, we hope to equip our clients with the knowledge necessary to make informed decisions about their wealth portfolios,” she added.
The panel comprised Manpreet Gill, Chief Investment Officer, AMEE, Farooq Pasha, Country Economist, and Kailash Kumar, Executive Director Wealth Solutions, Deposits & Secured, Asif Ali Qureshi, CEO, UBL Fund Managers, and Muhammad Asim, CFA, Chief Investment Officer, MCB Funds.
The discussion moderated by Murtaza Hasan, CFA, Head of Investment Advisory, Standard Chartered Pakistan.
Farooq Pasha said that Pakistan's economic outlook has improved since the start of FY25 with economic momentum picking up after the elections and the completion of the $3 billion IMF SBA facility in the first half of the year. In FY24, the economy saw significant improvement in growth, inflation and deficits compared to the crisis in FY23.
"We expect further stabilisation in FY25, with growth projected to rise 3 percent and inflation to ease to 12.5 percent", he added. However, risks to this outlook could arise if there’s a shift away from the current prudent policies, increased political instability, or delays in expected foreign currency inflows, he mentioned.
Copyright Business Recorder, 2024