Dar says coun­try will soon se­cure new place in global cap­i­tal mar­kets

The Pak Banker - - FRONT PAGE -

IS­LAM­ABAD: Pak­istan Stock Ex­change has been es­tab­lished with the merger of Karachi, La­hore and Is­lam­abad stock ex­changes here on Thurs­day. An agree­ment to this ef­fect was signed in Is­lam­abad on Thurs­day. Speak­ing on the oc­ca­sion, Fi­nance Min­is­ter Ishaq Dar ex­pressed the con­fi­dence that Pak­istan will se­cure new place in in­ter­na­tional cap­i­tal mar­kets with the emer­gence of one na­tional stock ex­change. He said Pak­istan Stock Ex­change will be made vi­brant and com­pet­i­tive in the global fi­nan­cial mar­kets. He said Pak­istan has a great po­ten­tial to turn into a strong sta­ble and eco­nom­i­cally sov­er­eign coun­try. High­light­ing the steps taken for re­vival of econ­omy, Ishaq Dar said the world fi­nan­cial in­sti­tu­tions are also rec­og­niz­ing sta­bil­ity in Pak­istan's econ­omy. Ishaq Dar said ef­forts will now be made to en­hance growth rate to six to seven per­cent as en­vi­sioned in the medium term frame­work. He said spe­cial em­pha­sis is also be­ing given to the de­vel­op­ment sec­tor and al­lo­ca­tions for this pur­pose have been dou­bled in the last two years. He said the for­eign ex­change re­serves are at his­toric height and hov­er­ing be­tween 18.50 to 18.75 bil­lion dol­lars. He said ef­forts are afoot to en­hance the re­serves to over twenty bil­lion dol­lars very soon. On energy cri­sis, Ishaq Dar was con­fi­dent that ten thou­sand megawatt of elec­tric­ity will be added to the grid by De­cem­ber 2017.

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