PSX keen to partner with govt to expand PDF outreach
Finance Minister Senator Mohammad Ishaq Dar said Saturday that the reform process would continue and all the positive suggestions for improvement of the regulatory regime and taxation structure would be considered for implementation.
The minister was talking to a Pakistan Stock Exchange (PSE) delegation led by PSE Chairman Muneer Kamal and comprising Arif Habib, Yasin Lakhani and Amin Tai. He said the hard work by all the stakeholders during the last four years had resulted in the economic turnaround, which was globally acknowledged now.
He appreciated the role of the business community and urged that they should continue to make their positive contribution for the progress and development of the country.
The minister also shared his plans for expanding investment in various fields through the Pakistan Development Fund (PDF), which, he said, would focus on financing commercially viable public sector projects.
On the occasion, the delegation expressed keen interest in partnering with the government to expand the outreach of the Fund. The delegation apprised the minister that the process of acquisition of 40% share in the PSX by foreign investors had been completed by the appointment of directors representing Shanghai & Shenzhen Stock Exchanges and Pakistan China Investment Company, on the PSX Board.
The introduction of new partners as well as the markedly improved economic environment would help the stock market grow further in the future, the added. The delegation members lauded the progress made by the government in the economic and security environment, saying that both domestic and foreign investors were now keen to expand their investments in the country.
Several proposals for improvement of the regulatory regime, aimed at consolidating and taking further the gains made in the recent years, were also discussed during the meeting, The PSE members also presented to the minister proposals for the upcoming budget, which, they said, were aimed at removing anomalies and rationalizing the tax structure for the capital market.
Secretary Finance Tariq Bajwa, Secretary Economic Affairs Division Tariq Mehmood Pasha and Security and Exchange Commission of Pakistan (SECP) Chairman Zafarul Haq Hijazi and senior officers of the Ministry of Finance and SECP also attended the meeting.