De­vel­op­ment of strong cap­i­tal mar­ket key indicator of eco growth in Pak­istan

Pakistan Observer - - ECONOMY WATCH -

Cur­rency Sell­ing Buy­ing

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.

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