Avenceon (PSXZ:AVN): For the year ending December 2024, AVN posted a net income of Rs 539 million (EPS: Rs 1.3), a significant decline from the previous year's net income of Rs 1,625 million. No cash dividend has been declared in the past 12 months.
Similar to last year, nearly all of AVN’s income came from 'other income'. Without the Rs 584 million from this category, AVN would have reported a loss in the fourth quarter as well as for the full year.
Lalpir Power (PSX:LPL) terminated its agreement with the Pakistan government in October 2024 and plans to enter the electricity market (CTBCM) to sell power as a merchant plant. With Rs. 9,774 million in surplus funds, it aims to explore new business opportunities, subject to board and shareholder approval.
The Pakistan Stock Exchange (PSX) reacted positively to the conclusion of the IMF staff-level agreement and has now recovered a substantial part of the losses sustained on Monday. Today, out of the 1,139-point gain in the KSE-100 Index, around 800 points were contributed by UBL, OGDC, PPL, and Meezan Bank.
The IMF has reached a staff-level agreement with Pakistan for the first review of its 37-month Extended Fund Facility (EFF) and a new 28-month Resilience and Sustainability Facility (RSF), granting a total of $1.3 billion. The agreement, following discussions in February–March 2025 in Karachi and Islamabad, is subject to IMF Executive Board approval. If approved, Pakistan will receive $1 billion under the EFF, increasing total disbursements to $2 billion.
