PSX eyes 600,000 new investors

KARACHI: Pakistan Stock Exchange (PSX) is eyeing 600,000 new investors in the next two years to expand its investor base to one million by setting up help desks across the country, said its chief on Wednesday. 

“We are trying to expand the investor base to one million in the next two years from the existing 400,000 investors,” said Nadeem Naqvi, managing director at PSX, addressing the ABL Asset Management’s mobile application launching ceremony. “This is a challenge (but) we’ll use power of technology to increase the investor base.”

Naqvi said the regulatory environment and demutualisation will help the PSX in increasing the number of investors.

The stock exchange reached the investor base of 400,000 to 425,000 in the previous several years.

Naqvi said capital market hubs will be established across the country to increase number of investors. First hub has already been established in Abbottabad, Khyber Pakhtunkhwa and second will be set up in Peshawar. Around 10 to 12 capital market hubs will be established in other cities in the next two years. Representatives of all the stock exchanges will be available for the investors’ guidance.

The PSX has also planned to set up small and medium enterprises counter at the stock exchange to facilitate the businesses.

“There is big potential of savings in this country,” Naqvi said.

Currently, per capita income is $1,500, while Pakistan’s more than 50 percent economy is undocumented and if that is added, per capita income reaches at $2,250 to $2,500 while that of the middle class is around $4,000 to $5,000 per month, he added. 

He said capability and management is needed to handle advanced technology, and “Pakistani management capability is second to none in the world.”