ISLAMABAD: The government has formed a national stock exchange by the title of ‘Pakistan Stock Exchange (PSE)’ by integrating the Karachi Stock Exchange (KSE), Lahore Stock Exchange (LSE), and Islamabad Stock Exchange (ISE).
Addressing the MoU ceremony on integration of country’s three exchanges, Federal Minister for Finance Senator Mohammad Ishaq Dar said, “Government of Pakistan and Securities and Exchange Commission of Pakistan (SECP) are jointly making efforts to make Pakistan’s financial and capital market one of the best in the globe.”
He reminded the government manifesto of establishing of a strong, vibrant and internationally competitive financial and capital market that can prove as a main place for a strong economy. He expressed his aim to improve the structure of Pakistan’s capital market to magnetize investment and improve the standard of living of the common man.
Commenting on the integration among all stock exchanges, Mr. Dar said that it is a great achievement and the integration will result in development of strong capital market. It is a win-win situation for all, he added. He also assured the government support to achieve divestment of PSE shares.
We are working hard to raise Pakistan’s liquid forex reserves up to $21 billion by the end of running year 2015, says Ishaq Dar.
According to Finance Minister, PML(N) government’s friendly reforms, strong macro-economic indicators, increase in remittances and GDP growth have mobilized the private sector that resulted in increased confidence by foreign investors, rating agencies, and institutions. Ishaq Dar also appreciated the SECP’s role in formation of PSE and said that with the help of SECP, Pakistan’s capital market will soon become a regional capital hub and will be the one of the best capital markets in the Asian region.