BUDGETOVERVIEW
Автор: The Market Pulse with Irfan Awan
Загружено: 2022-06-12
Просмотров: 143
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Budget FY23 focuses on rationalizing expenditures, and abiding by the fiscal limits being negotiated with the IMF.
We believe prevailing valuations (PE of 4x) already price in the negatives. We like yield plays, MCB, UBL, HMB, EFERT, FFC,& MARI. We also like HUBC, OGDC & PPL as they will benefit from structural improvements in the energy chain.
Note that due to the ongoing Russia-Ukraine war and its spillover effects on energy (oil distillates) and food prices, economicoutlook would remain uncertain globally. Hence, integrity of budget numbers will remain under threat
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