Alpha Beta Core

As we close the first month of 2026, Pakistan's economic landscape is unfolding in line with the themes outlined in our report "Pakistan Strategy 2026 - From the Ridge Line". Key Events Recap: - Globally, oil prices stayed range-bound at $56-70/barrel despite geopolitical flare-ups, while gold surged past $5,100/oz on safe-haven demand. - Global tech giant's have signaled heavy AI spending to the tune of $200+bn. The market is now differentiating between those showing returns and those still investing ahead of revenue. - The SBP held rates at 10.5% despite market expectations of a cut, prioritizing inflation control over aggressive easing, inline with the disciplined approach we anticipated. - External buffers strengthened with reserves climbing to $21.3 billion and remittances hitting $19.7bn in H1, up 11% YoY and on track for our full-year projection of $44bn. 2026 is the year that determines if Pakistan transitions from temporary stability to sustained, substantial growth. Implementation, not policy direction, is the variable that matters most. For those who missed, dive deeper into these dynamics, sectoral opportunities, and our full outlook in our Pakistan Strategy 2026 report here. https://lnkd.in/dpDYp2Zi

Pakistan Funding Landscape 2025 - Funding Reawakening, Momentum Builds into 2026 Our latest report examines Pakistan’s funding landscape against the backdrop of a year of macroeconomic stabilization. It provides a comprehensive assessment of capital markets, M&A, and venture funding activity, alongside the structural and policy developments shaping investor sentiment. The report highlights improving market depth, stronger participation across public and private capital, and emerging investment themes for 2026, while placing these trends within the broader macroeconomic and geopolitical context influencing capital flows. #PakistanFundingLandscape #InvestmentOutlook #CapitalMarkets #MergersAndAcquisitions #VentureCapital #MacroeconomicStability #EmergingMarkets #Pakistan2026

As we close out 2025, Pakistan's financial markets have delivered remarkable returns for second consecutive year. Some key highlights: - Equities surged 51% YoY, delivering a cumulative 138% return over two years - Gold emerged as the star performer at 68%, outpacing all other domestic asset classes - For the second consecutive year, PSX outperformed nearly every major global market with a cumulative USD return of 133% The equity rally was broad-based, with following top-performing sectors: - Cement: 91% - Banks: 79% - Tech: 32% - Power: 31% - Autos: 28% - Pharma: 24% - Fertilizer: 19% - OMCs: 13% - E&Ps: 10% Real estate (20%) and T-bills (10%) also contributed to a well-rounded year for domestic asset classes. As we move into 2026, we expect KSE-100 to sustain its momentum on account of easing cycle and improving external position. #market #pakistan #economy #equities

Happy Independence Day, Pakistan! 🇵🇰   Today, as we celebrate the 78th anniversary of our beloved nation's independence, Alpha Beta Core stands proud in honoring the spirit of resilience, unity, and progress that defines Pakistan.   This day reminds us of the strength found in our shared vision for a brighter tomorrow. At Alpha Beta Core, we are inspired by the nation's journey and fueled by a passion to contribute to its future through innovation, integrity, and excellence in the financial sector.   Our office is filled with the spirit of celebration, and we take this moment to reflect on how far we've come and how much further we aim to go. As we grow, we remain committed to building a culture of purpose, performance, and positive impact.   Here's to a brighter, more inclusive future. Happy Independence Day!

Pakistan's Funding Landscape: Momentum Builds Amid Geopolitical Risk   Pakistan’s Funding Landscape continued on a steady recovery path in the first half of 2025, driven by macroeconomic stability, improved investor confidence, and targeted policy reforms. Venture capital activity gained momentum across key sectors such as fintech, healthtech, and e-commerce, while IPOs equity market remained resilient and M&A reflected strategic realignments. With a growing startup ecosystem and foundational steps in AI and digital assets, Pakistan is positioning itself as a promising hub for future-focused investments. To learn more about Pakistan's Funding Landscape in 1H2025, read the full article here: https://lnkd.in/dyHzkRRY #pakistan #funding #startup #equity #ipo

Pakistan Budget FY26: Fiscal Discipline, Revenue Expansion, and Policy Normalization The Federal Budget for FY2025–26 outlines a clear pivot in fiscal management — emphasizing consolidation, documentation, and structural reform over blanket support and incentives. Total budget outlay is set at PKR 17.57 trillion (+7% YoY), anchored by a net revenue target of PKR 11 trillion and a fiscal deficit of 6.5 trillion (Federal fiscal deficit and overall fiscal deficit at 4.7% and 3.9% respectively) . The budget relies heavily on domestic financing while attempting to signal continuity in IMF-aligned targets through a higher primary surplus and reduced untargeted subsidies. Key developments include: - Introduction of new levies (carbon, windfall, NEV) and enhancement of the petroleum levy, targeting a PKR 1.47 trillion collection. - Tax base expansion through withdrawal of the final tax regime for exporters, higher taxes on dividend and interest income, and broader advance tax/WHT coverage. - Subsidy rationalization, with significant cuts to industrial support (e.g., fertilizer plants), while retaining targeted assistance such as urea import subsidies. - Development spending restructured, with PSDP reduced to PKR 1 trillion, focused on energy, water, and infrastructure. - Digital enforcement and documentation scaled up, with e-commerce taxation and mandatory data sharing by utilities and banks. - A PKR 87 billion privatization target reinforces the shift toward market-oriented governance. While the measures support fiscal consolidation and improved documentation, risks remain around implementation capacity, inflationary pressures from indirect taxation, and sector-specific compliance burdens. #pakistan #federalbudget #budgetfy26 #fiscal #consolidation

We are pleased to announce that Fouzia Hussain, Assistant Manager in Risk and Compliance, has been honored with the Performer of the Season award for Spring 2025. This recognition is in acknowledgment of her outstanding contributions to compliance, risk management, and the development of policies, procedures, and guidelines. Fouzia’s exceptional performance, attention to detail, and leadership in enhancing our risk and compliance frameworks have been invaluable in maintaining a secure and compliant working environment. Her dedication to excellence has had a significant impact on our organization's success. #EmployeeRecognition #RiskAndCompliance #TeamExcellence