PSX among top ten capital markets of the world

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PSX among top ten capital markets of the world

KARACHI: (APP) Chairman, Pakistan Stock Exchange (PSX), Muneer Kamal on Thursday said stock exchange of a country is the best indictor of its economy and that Pakistan Stock Exchange (PSX) was performing excellent and included in top ten capital markets of the world.

He was speaking at the ceremony of giving awards to the top 25 companies of Pakistan for their best performance in capital market, here at Pakistan Stock Market.

Prime Minister Muhammad Nawaz Sharif,who was the chief guest, distributed the prizes among the winners.

Sindh Chief Minister Syed Murad Ali Shah, Sindh Governor Dr.Eshrat-ul-Ebad Khan, Federal Finance Minister Senator Muhammad Ishaq Dar, Governor State Bank of Pakistan Ashraf Mehmood Wathra, Chief Executive Officer of PSX Nadeem Naqvi, President Karachi Chamber of Commerce and Industry (KCCI) Younas Muhammad Bashir, Patron-in-Chief of KCCI Siraj Kassam Teli and other leading businessmen like Arif Habib were also present at this important event.

The ceremony was titled as " Recognizing Corporate Leaders Who are Contributing Towards Economic Growth of the Country."

PSX Chairman informed that today PSX index has crossed 40,000 points whereas on June 15 last year it was 31,036. After the demutualization and merger of three stock exchanges, Pakistan's capital market has been fast growing. Now, PSX has been recognised as one of the top ten stock markets of the world. After demutualization, Pakistan has become an attractive market for foreign investors, he said.

The credit goes to wise leadership and policies of Prime Minister Muhammad Nawaz Sharif and continued support by Federal Finance Minister Senator Muhammad Ishaq Dar. The brokers' community had also played a very important role in the success of PSX.

He said next year , PSX would be linked to all major stock exchanges of the world and this would further strengthen the capital market of the country.

PSX Chief praised the government's economic policies and noted that economic indicators of the country had improved a lot over last couple of years. International Monetary Fund (IMF), International Finance Corporation (IFC) and World Bank had appreciated the economic revival and its growth in Pakistan.

On this occasion, he also recounted the achievements of the government on social front as well.

He expressed his satisfaction over the success of Operation Zarb- e-Azb against terrorists as result of joint efforts of the military and civil leadership.

Muneer Kamal urged the business community to assist the government in timely execution of China Pakistan Economic Corridor (CPEC) and make it a great success story of Pakistan. CPEC would prove a game changer for the entire region, he added.

Chairman, Securities and Exchange Commission of Pakistan (SECP), Zaffarul Haq Hijazi spoke of the various steps, including systematic changes, taken by SECP for promoting investment in the country.

He praised the government's policies and support under the guidance of Prime Minister Muhammad Nawaz Sharif.