Investors are eyeing who would be the new Finance Minister

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Positive momentum is building up as the new coalition government is shaping up to be led by the PML-N. Investors are eyeing who would be the new Finance Minister to form a view on how quickly Pakistan can enter into another IMF program. The ECC has approved an increase in gas prices effective from 1st February 2024 with the recommendation of uniform gas prices for fertilizer plants.

EFERT would marginally benefit from this as it tends to charge a premium urea price above the full pass on. We would advise investors to accumulate among EFERT, BAFL, UBL, HBL, MCB, SYS, TRG, SEARL, HINOON, HUBC, LUCK, DGKC and MLCF.

Courtesy- Intermarket Securities Limited

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