Baqar HussainJS Global Capital Limited-one of the largest brokerage and investment banking firms, has successfully concluded the Pakistan Investment Conference (PIC) 2016 in London.
The Privatisation Commission, the Ministry of Finance (MoF), Government of Pakistan and Pakistan Stock Exchange (PSX) were present and significantly supported this grand event, where both put up a larger-than-life effort to backup this rare initiative taken by JS Global Capital for the potential upgrade of the country back into the Emerging Markets category, which is due this June.
The focus of the PIC 2016 revolved around fetching support for Pakistan to help it regain the MSCI Emerging Market Status, while also discussing the CPEC to attract both the FDI and FPI, given the turnaround in the country’s macros.
The opening session commenced with a welcome note by Ahmed Badr -CEO & Head MENA Equities Renaissance Capital, Dubai office, who appreciated JS Global and its CEO Kamran Nasir for their efforts and welcomed all the dignitaries and participating companies from Pakistan.
This was followed by the Managing Director, Pakistan Stock Exchange, Nadeem Naqvi’s detailed presentation on the significantly improving Pakistan’s investment story, including the recent turnaround observed in country’s macros, sectoral expansions for ensuing growth as well as series of key institutional and structural reforms. Key Note Speaker, Muhammad Zubair, Minister of State and Chairman, Privatisation Commission, drew investors’ attention towards the emerging Pakistan story and gave an insightful background to the developments taking place in CPEC. He also thoroughly highlighted the host of recent structural reforms which the Government of Pakistan has made including the significant progress made in the security and law and order situation of the country, supporting the investment climate and the overall economic activity.
Zubair also highlighted the improved energy supplies for both industries and the households, and overall policy consistency given the political stability post first democratic political transition in country’s history. Both the Minister of State and the MD PSX passionately asked for the investors’ vote for Pakistan to help it graduate into the MSCI Emerging Market category this June, as Pakistan comfortably meets both the quantitative and qualitative criteria for the higher class for some years now.
Speaking to the media Chairman Privatisation Commission, Muhammad Zubair, MD PSX, Nadeem Naqvi, and CEO JS Global Kamran Nasir expressed that they were very hopeful on Pakistan being classified back into the MSCI EM category. Nasir also appreciated the efforts of the Securities and Exchange Commission of Pakistan (SECP) in supporting such initiatives and for being the key driver of bringing positive change and vibrancy into the Pakistan Capital Markets. The High Commissioner of Pakistan to UK Syed Ibne Abbas also hosted a dinner at the Pakistan High Commission in London. Ali Jehangir Siddiqui (Sponsor JS Group) gave their respective speeches supporting Pakistan and its investment dynamics.
The Conference was hosted in London by JS Global’s partner Renaissance Capital – a leading emerging and frontier markets investment bank. Unlike before, 14 Top Corporate participated in the PIC 2016, represented by their respective CEOs/CFOs, including Habib Bank, United Bank, Hub Power, Pak Telecom, Honda Cars, Searle Pakistan, Fauji Fertiliser, DG Khan, Oil& Gas Develop. Co, Lucky Cement, Fauji Fertiliser Bin Qasim, Dawood Hercules Corp and 2 leading pre-IPO Companies advised by JS Global/JS Bank.
The PIC 2016 was attended by over 30 World’s Top investment firms/funds, mostly represented by their portfolio managers/key decision-makers, which provided the visiting entourage with a unique opportunity to address all of them under one roof to convey Country’s positive perspective. As per estimates, participating investors represented over 15 percent of the Assets Under Management (AUM) from around the world, including the UK, European/Scandinavian, while some of the fund managers even flew down from the USA also for attending the PIC. Interestingly, Corporate-investor meetings were full-to-capacity both days inclusive, while the pre-IPO companies attracted similar interest.
The participation of the top global investors and their overall response has been overwhelming as most of the investors desired Pakistan to be upgraded into the MSCI EM category this June so they could allocate greater funds to this rising story.
Syed Zaki Hussain
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