Development of strong capital market key indicator of eco growth in Pakistan
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AMANULLAH KHAN KARACHI—Rauli Suikkanen, the Ambassador of Finland has acknowledged the financial sector development, including the capital markets, which he described as a major indicator of economic growth and stability in Pakistan.
The Finland diplomat who paid a courtesy visit to the Pakistan Stock Exchange (PSX) today said that he was impressed by the reforms in Pakistan‘s capital market and particularly the stellar performance of Pakistan Stock Exchange in the last few months. He appreciated the efforts and achievements of the Apex Regulator, SECP and the Stock Exchange for bringing transparency and efficiency in the stock market which would help both more companies to list and attract greater number of investors to capital market.
He was welcomed by Muneer Kamal, ChairmanPSX Board and Muhammad Rafique Umer, officiating Managing Director-PSX. Some other directors of the Exchange, namely Moin M. Fudda & Muhammad Yasin Lakhani, CEO-NCCPL Muhammad Lukman as well as management team members were also present on the occasion. After initiating the trading session at PSX with the opening bell ceremony, Rauli Suikkanen also had a meeting with members of the Board and the management.
A detailed presentation on the Economy and Capital Market was given to the Honorable guests. The Ambassador held discussion on areas of common interest with the members of the Board and management. Muneer Kamal highlighted the improved economic situation of Pakistan and key developments at PSX including demutualization, integration of three stock exchanges, new product development, investor awareness campaign, improved outlook for listing of new companies and expected re-designation of PSX from MSCI’s Frontier Market Index to Emerging Market Index by mid-year 2016. He expressed the hope that considering the overall environment in the country duly improved and business friendly, there is enormous potential to attract Finnish investment into Pakistan.
The Ambassador was accompanied by Hertta Alava, Director Emerging Market Funds of a major Finnish Investment Bank, FIM Finland and Sadia Khan, Honorary Consul General of Finland.