External broker reports(aggregated public sources), Topline Securities

Topline Securities

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External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>Pakistan recorded its highest-ever monthly exports of US$303mn, up 17% MoM and 23% YoY in Dec-2023. IT exports in Dec 2023 are also higher than last 12-month average of US$222mn.</li><li>As per channel checks, jump is IT exports is due to (1) relaxation in the permissible retention limit by the State Bank of Pakistan (SBP), increasing it from 35% to 50% in the Exporters’ Specialized Foreign Currency Accounts, and (2) stable PKR currency which encouraged IT companies to repatriate their foreign income and deposit it in local accounts.</li><li>To highlight, the reported IT export number indicates the amount remitted back to Pakistan by technology companies. As per the IT Minister, IT companies have parked an estimated US$1-2bn outside of Pakistan.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Pakistan recorded its highest-ever monthly exports of US$303mn, up 17% MoM and 23% YoY in Dec-2023. IT exports in Dec 2023 are also higher than last 12-month average of US$222mn.As per channel checks, jump is IT exports is due to (1) relaxation in the permissible retention limit by the State Bank of Pakistan (SBP), increasing it from 35% to 50% in the Exporters’ Specialized Foreign Currency Accounts, and (2) stable PKR currency which encouraged IT companies to repatriate their foreign income and deposit it in local accounts.To highlight, the reported IT export number indicates the amount remitted back to Pakistan by technology companies. As per the IT Minister, IT companies have parked an estimated US$1-2bn outside of Pakistan.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Pakistan Technology: Record High Monthly Pakistan IT Exports in Dec-2023

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Pakistan Technology: Record High Monthly Pakistan IT Exports in Dec-2023