The signing ceremony of the Capital Market Development Fund agreement is underway in Islamabad, Federal Finance Minister Senator Muhammad Aurangzeb is attending the ceremony as a special guest.
Chairman SECP Dr. Kabir Ahmed Sidhu addressed the ceremony and said that significant progress has been made for the promotion of the capital market and a major initiative has been taken to increase the number of investors and create awareness. A joint platform of SECP and market institutions has been formed.
Chairman SECP Dr. Kabir Sidhu said that the rate of investors in the capital market in Pakistan is less than one percent, the trend of investment in the stock market in Pakistan is very limited.
SECP has a major goal of increasing the number of investors to 2.5 million, a comprehensive strategy has been formulated to increase the number of investors and steps have been taken to bring youth and new investors into the market.
Awareness campaigns and reforms are underway to promote the capital market, investment opportunities exist in Pakistan and the public must be attracted to the market.
SECP’s focus is on financial inclusion and increasing investor confidence.
Finance Minister Muhammad Aurangzeb, while addressing the ceremony, said that our leadership is active in reducing tensions in the region and in view of regional tensions, a cautious strategy will have to be adopted.
The government’s focus is on the current account and fiscal deficit and economic indicators are continuously improving. Despite difficult circumstances, the economy is moving in the right direction and the role of the capital market is very important for economic development.
Despite the challenges, the Pakistan stock market has remained stable. Regional tensions are an important lesson for us and an immediate shift to alternative sources of energy is inevitable. Self-reliance for our own needs is the need of the hour and commercial decisions must be made independently and in the national interest.
He said that full attention is being paid to raising capital from domestic resources and self-reliance is the real path to economic stability. The stock and capital markets are important sources for self-reliance.
He said that for the development of the country, local investment must be promoted and investors must be encouraged to invest in their own country. Reliance on internal resources is essential for the stability of the national economy.
The Finance Minister said that the role of SECP is very important for investor awareness and facilitation and investor education and facilitation is the top priority of SECP. Legal reforms are needed in SECP and the government will provide full cooperation. The government’s full support for regulatory reforms was announced.
The Finance Minister said that mobilizing Generation Z is the need of the hour and bringing the youth towards investment is a national priority. Gen Z is the future, they must be prepared and empowered. Emphasis was placed on increasing opportunities and awareness for young investors and the role of youth in promoting financial inclusion was declared key. The new generation must be made a part of the capital market.