Key View

• Chinese contractors undertake a substantial portion of construction roles in Pakistan's infrastructure competitive landscape, surpassing domestic contractors to stand as the most-active nationality in the market.
• Project financing for large-scale construction and infrastructure projects in Pakistan, similarly, sees Chinese lenders

Key View

• A sharp resurgence in new daily Covid-19 infections in Pakistan has put the brakes on the government’s economic reopening plans after earlier lockdowns.
• Pakistan’s extended fight against Covid-19 triggers larger downside revisions to our 2020 downstream forecasts.
• Looking beyond the current pandemic headwinds, long-term underlying

Key View

• Pakistan’s pharmaceutical market will continue to face a number of headwinds.
• The government’s plan to increase medicine prices will restrict patient access to vital medicines.
• The pharmaceutical market will benefit from a more stable medicine pricing system.

Pakistan’s pharmaceutical market continues to face a number of

Key View

• We at Fitch Solutions now expect the State Bank of Pakistan (SBP) to maintain its benchmark policy rate at 7.00% for the remainder of FY2020/21 (July-June).
• The SBP held the benchmark interest rate at 7.00% at its monetary policy meeting on September 21, citing recovering economic activity and a likely rise in upside pressure on

Key View

• Pakistan’s power capacity will experience robust growth over the coming decade, at an annual average rate of over 5%, in line with a strong government commitment to prioritise the development of the sector to support economic growth.
• Our view is underpinned by ongoing efforts to support structural reforms in the sector, as well as

Pakistan is set to become more dependent on foreign oil imports as repercussions from the Covid-19 pandemic add to its refining woes. The Covid-19 pandemic has collapsed what little was left of domestic refining activity in the country. Lockdowns imposed nationwide in April saw sales of major fuels plummet as economic activity and movement were

Key View

• Pakistan is making several improvements in its healthcare delivery system and has established several reforms.
• Opportunities for multinational drugmakers will be marred by underlying issues within the healthcare system.
• Underperformance of the public sector healthcare system will drive the growth of private healthcare.

Efforts

Key View

• Despite strict measures in place to contain Covid-19, cases in Pakistan continue to rise rapidly.
• Pakistan’s low spending on healthcare makes it vulnerable to the pandemic.
• Healthcare reforms will take time to deliver.

Sharp increases in Covid-19 cases have been seen in Pakistan. On June 24 2020, Pakistan confirmed 60 deaths

Key View

• We at Fitch Solutions have revised down Pakistan’s real GDP forecast to -1.2% in FY2019/20 (July-June) and 0.4% in FY2020/21, from 2.5% and 5.1% previously.
• In our view, private consumption will be a huge drag over the coming months, given likely a curtailing of consumer spending amid the Covid-19 outbreak, which will take a toll on

Key View

• The Covid-19 pandemic is set to hit Pakistan hard.
• The pandemic drastically alters our expectation for short-term refining activity and fuel demand.
• Oor outlook for the longer term is similarly underwhelming, more so for a market with Pakistan's population and size.

The Covid-19 pandemic is set to hit Pakistan hard. The first