ADB team visits PSA

The delegation consists of David White and Ms Michelle Parnell of Asian Development Bank (ADB), accompanied with Akif Saeed who is currently serving as consultant to ADB, visited PSX Stockbrokers Association (PSA) on Monday.

The meeting was led by the President of PSA, Basharat Ullah Khan and was attended by Managing Committee and ex-office-bearers of PSA. Khan welcomed the guests and thanked them to have interaction with the representative body of Trading Right Entitlement Certificate (TREC) Holders of Pakistan Stock Exchange.

Khan, followed by the presentation, highlighted the issues being faced by the TREC Holders. Stock market being fully documented and tax compliant should be promoted but unfortunately the investors and the TREC Holders in the Capital Market are subject to unreasonable tax and compliance burden.

He further apprised the guests that the TREC Holders are inundated with the never-ending Regulatory Compliances that they do not find time for marketing their business. The guests shared their perspective regarding the stock market and assured the house that they will take measures for the development of the Capital Market and to promote investment in Stock market, the investors will be encouraged. The house hoped that the concerns and issues will be resolved in due course.

In addition to it, the recently floated concept note of New Broker Regime was also made part of the discussion, wherein, views were exchanged in different aspects.-PR