Rating Details	Rating Type	Social Impact and Performance Rating
	Dissemination Date	Current (16-May-25 )
	Action	Initial
	Rating	SIP3
	Outlook	Stable
	Rating Watch	-

Rating Rationale	Factor	Comment
	Ownership/Members	CEIP is a public unlisted company incorporated under Section 42 of the Companies Ordinance 1984.
	Governance	The Board of Directors consists of five members, two independent directors, along with three board committees highlighting a sound governance framework.
	Management	The senior management is qualified and possess extensive experience to efficiently managing business operations.
	Social Impact	CEIP demonstrates alignment with its mission through pro-women outreach, embedded client protection practices, and field-level engagement.
	Business Sustainability	CEIP's profitability has shown a modest improvement following recent interest rate reductions, whereas access to untapped geographic regions also suggests a steady potential for growth.
	Financial Sustainability	The company has an adequate equity base of ~PKR 593 Mln as of Mar'25. The outstanding loan portfolio stood at PKR 1,615 Mln, representing a market share of approximately 0.33%.

Key Rating Drivers

The CSC Empowerment & Inclusion Programme is committed to delivering microfinance services to underserved households in Pakistan, with a strong emphasis on financial inclusion, women’s empowerment, and youth engagement. The Company’s involvement in various social initiatives continues to generate meaningful and lasting impact within its communities. Going forward, the rating will remain sensitive to CEIP’s ability to broaden its funding base and expand its market presence. Additionally, the Company’s ability to deliver measurable outcomes that substantiate its developmental mandate will continue to serve as a key determinant of the assigned rating.

About the Entity
	Legal Structure	Not-for-profit organization (Section-42)
	Year of Establishment	19-Mar-15
	Type of License	Non-banking Microfinance Company (NBMFC)
	Majority Ownership	N/A

Regulatory Disclosures	Analyst	Applicable Criteria	Related Research
	Usama Ali usama.ali@pacra.com +92-42-35869504 www.pacra.com	Assessment Framework | Social Impact and Performance Rating | Sep-24	Sector Study | Microfinance | Oct-24

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