The Pakistan Stock Brokers Association (PSBA) has reported a significant growth in stock market participation, with 61,862 new Unique Identification Numbers (UINs) registered between July and December 2024. This surge brings the total number of UINs to 357,419, marking a record addition of 15,130 new accounts in December alone.
In a press release, the PSBA highlighted the strong performance of Pakistan’s capital market during the period, attributing the growth to favorable economic conditions and improved investor confidence.
During a meeting with Syed Naveed Qamar, Chairman of the National Assembly’s Standing Committee on Finance and Revenue, and Dr. Mirza Ikhtiar Baig, a member of the committee, PSBA officials emphasized the need for policy reforms to further enhance the market’s potential. The meeting focused on addressing structural issues in the capital market and identifying measures to sustain growth.
The Senior Vice Chairman of the PSBA noted that Pakistan’s historically high price-to-earnings multiple of 8.5x, attractive dividend yields, and positive economic indicators presented a promising opportunity for investors. He emphasized that a well-functioning, world-class capital market is essential for achieving the country’s economic ambitions.
The PSBA also presented a series of proposals to the committee aimed at fostering capital market development. These included addressing anomalies in the definition of “Security” under section 37A of the Income Tax Ordinance, 2001, and the introduction of investment savings accounts modeled after successful schemes in the US, UK, and Japan to promote financial inclusion.
Qamar assured the PSBA delegation of his support in taking these proposals to the relevant forums for consideration and implementation. Dr. Baig echoed this sentiment, stating that strengthening the capital market would benefit stakeholders and contribute to government revenues.
