Khurram visits PSX, holds talks with PSX top management
Khurram Schehzad, Adviser to Finance Minister, was invited to the Pakistan Stock Exchange (PSX) by CEO, PSX, Farrukh Sabzwari, to discuss strategies for enhancing the depth and performance of the capital market.
During his meeting with the CEO and senior management of PSX, Schehzad received a comprehensive overview of PSX’s strategic initiatives aimed at unlocking potential of Pakistan’s capital markets, said a press release issued here on Tuesday.
The CEO of PSX emphasized that, despite challenges, Pakistan’s capital markets possess immense potential.
He expressed confidence that through a well-formulated strategy, PSX could realize this potential and significantly contribute to the economy.
Schehzad reaffirmed the government’s commitment to supporting capital market growth, recognizing its role in stabilizing as well as underpinning growth in the country’s economy.
To achieve this goal, Mr. Schehzad urged the management to formalize recommendations for structural changes and privatization of State-Owned Enterprises (SOEs), which could advance governmental goals and boost market capitalization.
Furthermore, he recommended rebranding and repositioning the GEM board to function as a platform for venture capital and startup fundraising.
The Key Initiatives planned and discussed include , taking concrete steps for high-value listings to increase market capitalization and attract foreign investment and setting an ambitious target to increase the investor base to 2% of the national population within three years, engaging brokers and mutual funds in the campaign.
Introduction of new investment products, such as Exchange-Traded Funds (ETFs), options markets, and derivatives, to enhance market attractiveness and exploring algorithmic trading and robo-advisory services, drawing insights from successful implementations in countries like China.
Mr. Schehzad emphasized the need for the PSX and the SECP to collaboratively develop a roadmap aimed at increasing Pakistan’s weight within the MSCI Frontier Markets index, ultimately achieving inclusion in the MSCI Emerging Markets index. —APP
