The Chairman of the Board of Dawood Hercules Corporation and Engro Corporation, Hussain Dawood Wednesday said that regulations and policy formulations should be conducive to increasing business activity and they should help increase the number of listings and be formed in such a way that companies listed or those to be listed do not feel encumbered.
This he said in his meeting with the Board of Directors and senior members of Pakistan Stock Exchange during his visit to PSX here. He said it is the role of the government to form proper regulations and policies and it is the role of the business community to implement these regulations and policies. Hussain Dawood opined that the government and the business community should work hand-in-hand to help the cause of economic growth and prosperity in the country.
Hussain Dawood and his team, visited the PSX to open the trading session with the gong ceremony. PSX has embarked on an initiative to recognise the efforts and contributions of leading business figures of the country who have played an important role in developing the capital market, business activities, and economy of the country. Hussain Dawood is the first invitee to have been bestowed this honour by PSX.
Hussain Dawood was accompanied by members of his family. Also accompanying him were Chief Executives of eight public listed companies stewarded by Hussain Dawood, Dawood Hercules Corporation, Engro Corporation, Engro Fertilisers, Engro Foods, Engro Powergen Qadirpur Limited, Engro Polymers, Dawood Lawrencepur Limited and Cyan Limited.
Moin M Fudda, Chairman CDC; Humayun Bashir, Chairman NCCPL; Muneer Kamal, former Chairman PSX; Dr. Shamshad Akhtar, former Federal Finance Minister and Adnan Afridi, MD NIT and Member SECP Policy Board and Kamran Nasir, CEO JS Global Capital Limited were also present on the occasion.
Chairman of the Board of PSX, Sulaiman Mehdi; Managing Director, Richard Morin; Members of the Board and senior management of Pakistan Stock Exchange (PSX) received the distinguished guests and led them to the Trading Hall for the ceremony.
Opening the trading day by striking the gong, Hussain Dawood briefed the media wherein he thanked the PSX team for inviting him for the ceremony. Hussain Dawood said "The success of nations only occurs when all of us act as one team. That is only possible if we bring as many shoulders to the wheel as we can. We should endeavour to make the Stock Exchange as an important part of bringing the nation together, in seeing progress by having more number of people come and participate and help in the growth of the economy to the benefit of all. The stock exchange is not for making money, it is for creating money. There's the difference."
The services rendered by Hussain Dawood for growth of business and development of Pakistan economy were lauded by the PSX team. Hussain Dawood has been instrumental in building a business conglomerate that has presented a soft and progressive image of Pakistan in the local and international community. Names such as Engro Corporation Limited, Engro Fertilisers Limited and Dawood Hercules Corporation Limited speak of the fact that these companies serve as a benchmark for quality corporate governance with international standards for all companies to look up to, whether local or international.
Hussain Dawood continues to repose confidence in the potential of Pakistan and strives to invest in Pakistan. Recently, the Karachi School of Business and Leadership (KSBL) was established because a group of Pakistani business and corporate leaders led by Hussain Dawood recognized that Karachi, the business and commercial hub of Pakistan, needed a world-class business school. The high standards of this establishment speak for itself in terms of Hussain Dawood's contribution to meet the business education needs of the city in particular and of the country at large.
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