External broker reports(aggregated public sources), Topline Securities

Topline Securities

Topline Securities is one of the fastest growing brokerage houses in Pakistan. It has strong equity brokerage, economic / equity research, mutual fund distribution, commodity trading and corporate finance & advisory functions. Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

Macroeconomics

<ul><li>State Bank of Pakistan (SBP) is scheduled to hold its Monetary Policy Committee (MPC) meeting on Sep 15, 2025.</li><li>In a Poll conducted by Topline Securities, 72% of the market participant expect rate to remain unchanged compared to 37% in last poll. We believe, higher ratio of status quo compared to previous poll is owing to recent floods which may elevate food inflation and overall inflation in coming months amidst expected loss to crops and supply chain concerns. </li><li>We also expect central bank to maintain status quo in upcoming meet owing to possible inflation risks emanating from recent floods and rising imports. </li></ul>

State Bank of Pakistan (SBP) is scheduled to hold its Monetary Policy Committee (MPC) meeting on Sep 15, 2025.In a Poll conducted by Topline Securities, 72% of the market participant expect rate to remain unchanged compared to 37% in last poll. We believe, higher ratio of status quo compared to previous poll is owing to recent floods which may elevate food inflation and overall inflation in coming months amidst expected loss to crops and supply chain concerns. We also expect central bank to maintain status quo in upcoming meet owing to possible inflation risks emanating from recent floods and rising imports. 

Pakistan Economy - Monetary Policy Survey; 72% Expecting No Change in Policy Rate; We Also Expect Status Quo