Karachi: Trust Securities & Brokerage Limited has unveiled its Annual Report for the fiscal year ending June 30, 2026. The report highlights the company's adherence to accounting, regulatory, and legal standards while navigating a period marked by economic resilience amidst notable challenges.
Pakistan's economy, as per the report, has shown a gradual transition from macroeconomic stabilization to a sustainable growth trajectory during FY2025-26. Despite facing domestic and external hurdles such as climate-related disruptions, volatile international energy prices, geopolitical tensions, and global economic uncertainties, the country's economic activity demonstrated resilience. According to the Pakistan Economic Survey 2025-26, the real Gross Domestic Product (GDP) recorded provisional growth of 3.70% in FY2026, compared with 3.18% in FY2025. The services sector remained the largest contributor to economic activity, while industrial and agricultural activities also displayed growth.
Remittances marked a significant milestone, increasing from US$21.7 billion in FY2019 to a record US$41.6 billion in FY2026, representing a rise of approximately 92% over the period. This substantial increase in remittances has been a crucial factor in strengthening Pakistan's foreign exchange position.
The government's focus on fiscal consolidation resulted in a significant primary fiscal surplus, and improvements in the external account were noted. According to information available from the Pakistan Stock Exchange (PSX), the current account moved into surplus during part of FY2026, with foreign exchange reserves reaching multi-year highs. As of September 2026, Pakistan's total liquid foreign exchange reserves stood at approximately US$23.7 billion, providing a robust external buffer.
The investment-to-GDP ratio was recorded at 14.38% in FY2026, with GDP at current market prices increasing to approximately Rs. 126.9 trillion. Per capita income also saw an increase, reaching US$1,901 from US$1,751. Inflationary pressures, although lower than previous high levels, saw a rise in national CPI inflation to 11.1% year-on-year by August 2026, compared to 3.1% in August 2025.
Monetary conditions have eased significantly, with the State Bank of Pakistan (SBP) Policy Rate at 11.50% as of September 2026. The external sector remained resilient, supported by strong remittance inflows, improved export performance, and disciplined import management.
The exchange rate has remained stable, with the SBP's indicative exchange rate at approximately Rs.277 per US dollar in September 2026. The government's emphasis on export-led growth, diversification of exports, technology-related services, and increased private-sector investment continues to be pivotal in the country's medium-term economic strategy.
As Pakistan navigates these economic conditions, Trust Securities & Brokerage Ltd remains committed to maintaining robust financial health and capitalizing on the opportunities presented by the evolving economic landscape.