Karachi: MCB Investment Management Limited has presented its quarterly review for the Pakistan Income Fund for the period ending September 30, 2026, revealing a significant increase in net assets despite a challenging economic environment. The report was released on October 30, 2026.

The fund's net assets rose by 26.54%, reaching Rs. 14,746 million by the end of September 2026, up from Rs. 11,653 million at the close of June 2026. The Net Asset Value (NAV) per unit increased to Rs. 56.8061 from the opening NAV of Rs. 55.3828 per unit, marking a rise of Rs. 1.4233 per unit.

According to information available from the Pakistan Stock Exchange (PSX), the fund generated a return of 10.2% during the review period, slightly underperforming its benchmark return of 11.16%. The investment allocation at the period end included 5.7% in Term Finance Certificates/Sukuks, 23.7% in Government of Pakistan Ijara Sukuk, and 12.3% in Pakistan Investment Bonds (PIBs), with a weighted average maturity of 275 days.

In the broader economic landscape, Pakistan recorded a current account deficit of USD 543 million during the first two months of fiscal year 2027, a decrease compared to USD 853 million in the same period last year. The trade deficit widened by 18.8% year-over-year, with exports rising by 4.0% and imports increasing by 11.4%. Remittances showed a healthy growth of 14.7%, amounting to USD 7.3 billion.

The State Bank of Pakistan's foreign exchange reserves increased to USD 21.4 billion from USD 18.4 billion at the end of the previous fiscal year. The Pakistani rupee appreciated by 0.4% against the U.S. dollar, reaching a value of 277.1 by the quarter's end, representing a minor move.

The Consumer Price Index indicated an average headline inflation rate of 10.2% in the first quarter of FY27, a rise from 4.3% in the previous year, driven by global oil price increases. Meanwhile, Pakistan's GDP growth was reported at 3.7% for FY26, with contributions from the agricultural, industrial, and service sectors.

On the fiscal side, the Federal Board of Revenue's tax collection rose by 6.7% year-over-year in the first quarter of FY27, reaching PKR 3,083 billion and surpassing the cumulative target by PKR 30 billion.