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Pakistan to secure $2bn commercial financing this month: Aurangzeb Finance Minister Mohammad Aurangzeb informed the National Assembly Standing Committee on Finance on Thursday that Pakistan will return to commercial financing, aiming to secure $2 billion this month to boost forex reserves to $14 billion. Half of this will be guaranteed by Asian Development Bank and Asian Infrastructure Investment Bank. He stated that while monetary policy falls under the State Bank’s domain, he expects a rate cut in the upcoming meeting, with inflation likely to enter single digits next fiscal year. Aurangzeb said that the government would move towards downsizing and rightsizing in Utility Stores Corporation and Passco. “I want to make it clear that the government will move towards downsizing and rightsizing these SOEs, he told the panel. Federal Secretary Finance Imdadullah Bosal informed the committee that the government has approved a 10 percent salary increase for all public sector employees and a...
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daily check

Pakistan State Oil Ltd (PSO) held its analyst briefing earlier today to discuss 9MFY25 financial results and future outlook: ·         PSO reported net sales of PkR2,336bn during 9MFY25, down 13%YoY, primarily due to lower average fuel prices and a 7% YoY decline in delivered volumes to 5.3mn tons. ·         However, Unconsolidated net profit rose 14%YoY to PkR15.3bn (vs. PkR13.4bn in 9MFY24), supported by lower finance costs and higher other income.   ·         On a consolidated basis, profitability declined 42%YoY to PkR10.7bn, as falling oil prices and weak refinery margins weighed on overall earnings. ·         Company expanded its footprint by commissioning 67 retail outlets during the period, bringing country-wide total to 3,641 outlets. ·         Company’s future initiatives include: i) EV charging stat...
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LESSON 1: STANDARD 1: PROFESSIONALISM Knowledge of the Law B. Independence and Objectivity c. Misrepresentation D. Misconduct LOS 3a: Demonstrate the application of the Code of Ethics and Standards of Professional Conduct to situations involving issues of professional integrity. vol 1, pp 55-208 LOS 3b: Distinguish between conduct that conforms to the Code and Standards and conduct that violates the Code and Standards. vol 1, pp 55-208 LOS 3c: Recommend practices and procedures designed to prevent violations of the Code of Ethics and Standards of Professional Conduct.vol 1, pp 55-208 Standard I(A): Knowledge of the Law The Standard Members and candidates must understand and comply with all applicable laws, rules, and regulations (including the CFA Institute Code of Ethics and Standards of Professional Conduct) of any government, regulatory organization, licensing agency, or professional association governing their profe...
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