The last 2 years has seen Pakistan extricate itself from several awkward situations, achieving a number of milestones, foremost the first peaceful transition from one democratically elected government to another. There has been an optimistic budget announcement by a pro-business reform government however it now has to contend with protests led by Imran Khan and an obscure Canadian cleric Tahir-ul Qadri.
Amidst the doom, we remain confident and see positive developments and policy actions, and crucially believe political and security risk is overpriced in Pakistan. While Pakistan has consistently underperformed its peers for a half a decade or so, we believe that it now offers great value for potential investors across a range of asset classes over a 2 year investment horizon…
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