‘PSX to be made investment platform’

KARACHI: Capital market has a pivotal role in boosting economic activities within the country, as it was well-positioned as a viable platform for meeting the government’s infrastructural financing needs and increasing retail participation in state and corporate debt segment, an official said on Thursday.

“The regulator, in line with government’s vision, is focused on implementing a multifaceted reform agenda for developing the market as a globally competitive investment destination,” Farrukh H Sabzwari, Chairman Securities and Exchange Commission of Pakistan (SECP), said in a meeting with Pakistan Stock Exchange officials (PSX) officials.

An SECP statement said Sabzwari along with his team comprising, Commissioner (Securities Market Division) and Executive Director, Securities Market Division visited the PSX and held meetings with members of the PSX board of directors and management of stock exchange.

During the meetings the SECP chief was given an overview of the past and present reforms in the market, the statement added.

Both sides, it said, discussed measures required for further development of the market through timely introduction of new products, developmental reforms, measures for investor protection and efforts for expanding market outreach through investor education and awareness initiatives.

Expounding on the role of PSX as a capital generation platform, the meeting also deliberated on measures, needed for promoting new listings of equity issues and channelising efforts for listing of small and medium enterprises.

The PSX board of directors thanked the SECP chairman and his team and expressed their resolve to continue working tirelessly for further development of the market.