Federal Minister for Finance, Senator Mohammad Ishaq Dar said that the renewed faith of investors in economic policies and reforms introduced by the Government has led to the impetus in the Karachi Stock Exchange. He said while chairing a meeting regarding listing of Treasury Bills on Lahore and Islamabad Exchanges.
He said that corporate results are very encouraging despite initial hiccups and energy shortages during the last 8 months. The Finance Minister added that the listing of Treasury Bills in 3rd week of March on Lahore and Islamabad Stock Exchanges will be a historic milestone in Pakistan financial architecture which will enable small investors and common people to invest in Government T-Bills which can be bought and sold easily. He said that the Stock Exchanges in the country should initiate investors’ awareness plans and send positive messages to small investors and common buyers.
Mr. Tahir Mahmood, Chairmen SECP briefed the Finance Minister on new initiatives and reforms introduced to ensure that there is no misuse by brokers and control of the clients on their deposit shares. He said that the new system to protect clients will be introduced in June this year and it will enhance the confidence of the investors in securities and stocks.
The Finance Minister assured the officials of the two Stock Exchanges that the Government will work with them for stability in Stock Exchanges. He underlined that the small corrections are healthy but there should be no artificial hype. He said that it is the duty of SECP to safeguard against speculators and ensure that the Stock Exchanges are in line with the regulations of SECP.
Mr. Zafar Abdullah, Commissioner, SECP, Mian Ayaz Afzal, Managing Director, Islamabad Stock Exchange, Mr. Aftab Chaudhry, Managing Director, Lahore Stock Exchange, Dr. Waqar Masood, Finance Secretary, Rana Assad Amin, Advisor to Finance Ministry, SA to FM, Mr. Shahid Mahmood and officials of the two Stock Exchanges also attended the meeting.