Karachi: The Directors of Ismail Industries Limited have released a performance review in conjunction with the Standalone and Consolidated Condensed Interim Financial Statements for the quarter and nine-month period ending on March 31, 2025. The review highlights significant macroeconomic improvements in Pakistan, despite some challenges.
The State Bank of Pakistan (SBP) reported a decline in foreign exchange reserves to USD 10.7 billion from USD 11.7 billion in December 2024, mainly due to external debt repayments. However, projections suggest an increase to USD 13 billion by June 2025. The country recorded a notable current account surplus of USD 1.2 billion in March 2025, and the annual inflation rate reached a historic low of 0.7% in the same month. The policy rate remains steady at 12%, reflecting the SBP's cautious monetary stance.
Management at Ismail Industries Limited is implementing effective strategies to maintain competitive advantage and profitable growth. A key development is the ongoing establishment of a subsidiary, Bisconni Middle East Manufacturing LLC, in Abu Dhabi, UAE, which aims to expand the company's global market reach.
According to information available from the Pakistan Stock Exchange (PSX), the company's future outlook appears positive, with economic indicators strengthening. Essential measures for maintaining macroeconomic resilience include strengthening external buffers, improving foreign exchange reserves, and maintaining a consistent current account surplus. Structural fiscal reforms, especially broadening the tax base, are deemed necessary amidst an uncertain global environment.
The company also plans to leverage investment and business expansion opportunities in the global market, focusing on operational efficiencies and prudent cost management. Strategic decisions will align with long-term interests of investors, employees, customers, and other stakeholders, ensuring the company navigates the evolving global trade landscape effectively.
The Board of Directors expressed gratitude to lenders, partners, suppliers, distributors, and the public for their continuous support. They acknowledged the commitment and diligence of senior management and all employees during the period.