Karachi Stock Exchange Managing Director Moin M. Fudda held separate meetings with Adviser to the Finance Minister Dr Salman Shah and Minister of State for Finance Omer Ayub Khan in Islamabad.
During the meetings, Fudda briefed them about the capital market and reforms initiated and implemented by the Securities and Exchange Commission of Pakistan (SECP) as well as by the exchange.
Fudda said from October 12, 1999, when President Musharraf assumed the power, till October 12, 2004 the KSE-100 Index has recorded 332 percent rise from 1,257 points to 5,421 points. During this period the market capitalisation also surged four times from $6 billion to $26 billion.
Fudda attributed the performance of the KSE to the economic policies initiated and implemented by the team of Shaukat Aziz.
Both the adviser and the minister of state took keen interest in the development of the KSE and pledged their full co-operation and support for improvement and progress of the capital market.
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