Due PSX projection to attract more investment: Alvi

KARACHI: President Dr Arif Alvi on Wednesday expressed satisfaction over the performance of Pakistan Stock Exchange (PSX) and emphasized on its due projection as the best performing capital market in Asia and number four in the world, along with its potential for further growth, would attract more investments even by local small investors. 

“This is my message, tell the world about our stock exchange. Small investors should also be encouraged to invest here,” he said while talking to the media after holding an interactive session with the PSX management at the PSX building.

The president was accompanied by Sindh Governor Imran Ismail. The PSX team involved in the session included its Chairman Suleman Mehdi, Managing Director Farrukh H Khan and Director Shahzad Chamdia. 

On the occasion, the president was given a detailed briefing on the PSX’s working, role in the country’s economy and the initiatives/products in the pipeline to further strengthen its position in the world.   

President Alvi said it was his longing desire to visit the PSX, which had materialized today. It was very encouraging to listen that the stock exchange had now matured and consolidated, he said.  

Emerging of the PSX as the world-class capital market, he observed, showed that Pakistan was at the pickup point.  The exchange’s each indicator was very positive and it offered a very good return in terms of Pakistani rupee and US dollar. However, more public limited companies should be listed on it, he added.   

He said the PSX was moving up with clarity and certainty with prosperous future. Many products had been introduced to raise capital. 

“There are different analysis in the market. But the fact is, Pakistan's capital market is the best and Pakistan's economy is the best,” he remarked.

Farrukh H Khan said that the PSX had not been closed, even for a single minute, despite the tough situation arisen due to the Covid-19 pandemic. “We managed to keep the exchange running in a very difficult situation, though the economic activities remained almost suspended across the world,” he added. 

He said that in the aftermath of coronavirus, the world was still faced with serious economic crisis, but Pakistan’s economy had started recovering. 

The PSX, he said, was offering the best long-term return and stressed on investing in the stock market for a long term to reap its real benefits. There was a need to focus more on the market to capitalize on its huge potential and prospects. He said the visit of President Alvi and Governor Imran Ismail to the PSX was very encouraging for the management.

During the interactive meeting, many issues relating to the capital market were discussed and both the dignitaries assured their support in resolution of certain issues to encourage investment in the capital market and listing of companies on the PSX.