LAHORE: Ambassador of the European Union, Lars-Gunnar Wigemark paid a visit to the Lahore Stock Exchange.
Wigemark and his team were given an update of the Pakistan's Capital Market and what level has Lahore Stock Exchange been contributing to gear up the economy's growth in terms of both local and foreign investment by the MD and the CEO of the Lahore Stock Exchange, Mr. Aftab Ahmad Chaudhry, says an announcement released here Friday.
During the meeting, Wigemark affirmed that EU would like to promote the objectives of increased regional trade in South Asia to boost trade and take advantage of the mutual benefits likewise.
Wigemark also stated that the current challenges facing to the country with respect to the economy and the socio, political factors affecting the capital market, Pakistan's capital market has yet managed to grow and this further brings positive prospects in the future, in particular to the upcoming elected government that is expected to revise the economic and the social reforms.
He supported Aftab's opinion to foresee increase in the foreign investment especially investment coming from the expatriates to double from its current figure that is calculated to be USD 16 Billion.
Aftab highlighted the performance of the capital market of Pakistan by stating some basic points to evaluate the performance such as the market capitalization that amounts to US Dollar 44 billion contributing to 17% of the economy's GDP.
He also shared the ranking of the global market performance study that has ranked the Pakistan s market performance to be on the top.
During the information session, MD Lahore Stock Exchange also highlighted the steps taken by the LSE contributing to build a mechanism that has produced more transparency in the trading of the shares as well as to secure the investment of the investors at the hands of the brokers complete control.
<Center><b><i>Copyright APP (Associated Press of Pakistan), 2013</b></i></center>
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