President Alvi expresses satisfaction over PSX’s performance

KARACHI: President Dr Arif Alvi expressed his satisfaction over the performance of the Pakistan Stock Exchange (PSX) and stressed on the potential for further growth to attract more investment.

The president was addressing media after holding an interactive session with PSX management here at the Pakistan Stock Exchange building. He was accompanied by Sindh Governor Imran Ismail along with PSX Chairman Suleman Mehdi, Managing Director Farrukh Khan and Director Shahzad Chamdia.

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

President Alvi said it was encouraging that the stock exchange had now matured and consolidated. “This is my message, tell the world about our stock exchange. Small investors should also be encouraged to invest here,” he said

He said the emerging of the PSX as a world class capital market shows that Pakistan was at the pickup point and each indicator was positive and offered very good return, however, more public limited companies should be listed.  He said the PSX was moving up with clarity and certainty with a prosperous future and man products had been introduced to raise capital.

Dr Alvi said Pakistan would have to play important role in rebuilding Afghanistan as soon as peace was established there and cement and steel companies would an opportunity to sell their products there.

PSX Managing Director Farrukh H Khan said the Pakistan Stock Exchange had not been closed due to the tough situation arisen arising from the COVID-19 pandemic He said they managed to keep the exchange running in a very difficult situation through the economic activities remained almost suspended across the world.

He said in the aftermath of coronavirus, the world was still faced with a serious economic crisis but Pakistan’s economy had started recovering. He said the PSX was offering the best long-term return and stressed on investment in the stock market for the to reap its real benefits. 

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 Pakistan Stock Exchange.