Finance Minister, Senator Mohammad Ishaq Dar held a meeting with a delegation of Pakistan Stock Exchange (PSX) here Saturday.
Mr. Muneer Kamal, Chairman PSX who led the delegation was accompanied by Mr. Arif Habib, Mr. Yasin Lakhani and Mr. Amin Tai.
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 will help the stock market grow further in the future. Members of the delegation lauded the progress made by the government in the economic and security environment and stated that both domestic and foreign investors are now keen to expand their investments in the country.
Several proposals for improvement of the regulatory regime were also discussed during the meeting, which aimed at consolidating and taking further the gains made in the recent years.
The delegation also presented to the Minister Dar proposals for the upcoming budget and informed that these were aimed at removing anomalies and rationalizing the tax structure for the capital market.
Finance Minister assured the delegation that the process of reform will continue and all the positive suggestions for improvement of the regulatory regime and taxation structure would be considered for implementation. He said that the hard work by all stakeholders during the last four years had resulted in the economic turnaround which is 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. The delegation expressed keen interest in partnering with the government to expand the outreach of the Fund.
Secretary Finance, Tariq Bajwa, Secretary EAD Tariq Mehmood Pasha and Chairman SECP, Zafar ul Haq Hijazi and other senior officers of Ministry of Finance and SECP also participated in the meeting.
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