The British Government is working hard to promote the investment climate of Pakistan, and the British High Commission in Pakistan may soon organise an investment conference in United Kingdom to highlight the economic potential of Pakistan. This was stated by Dr Peter Tibber, the British Deputy High Commissioner during his visit to the Lahore Stock Exchange. Dr Peter Tibber, was welcomed by Aftab Ahmad Chaudhry, the MD/CEO of Lahore Stock Exchange.
The visiting dignitary also held a detailed meeting with the Board of Directors and the past Chairmen/Vice Chairmen of the Exchange and a cross section of the multinational CEOs during the visit. The delegation also comprised of Alastair King Smith-British Deputy Political Counsellor.
Farid Malik, CSO/COO LSE, briefed the visitors about the role and function of LSE. He also highlighted the role of LSE in the development of the capital market in the country. He stated that LSE was the first stock exchange in the country to introduce electronic trading back in 1997 and had gone on to indigenously develop its own trading platform called ULTRA. This trading platform was subsequently been sold to Karachi, Islamabad and Ghana Stock Exchanges.
LSE was also the only stock exchange to focus on retail expansion by setting up regional trading floors. He emphasised that stock exchange markets in Pakistan offer a favourable and open environment to foreign investors. Highlighting this fact, he informed that according to NCCPL figures, foreign investors now hold 8 percent of total market capitalisation and more than 30 percent of fleet-float of local equities is held by foreigners.
The MD LSE, Aftab Ahmed Chaudhry highlighted various steps taken by the Exchange in recent times to enhance the confidence and trust of the investors in the functioning of the Exchange as a frontline regulator. Especially, the Exchange is committed to provide transparent and fair dispute resolution mechanism for adjudicating the disputes arising between the member/broker of the Exchange and investors. For this purpose, the Exchange has revamped the Office of Chief Regulatory Officer of the Exchange. "Enormous investment opportunities in Pakistan are still untapped and are available for foreign investors", he stated. He impressed upon the visitors to play proactive role in apprising the foreign investors about the conduciveness of making investment in Pakistan in the prevailing business environment.
Peter Tibber lauded the efforts of LSE for playing pivotal role in the development of the capital market. He informed the LSE Board members that efforts are being made to arrange a conference in the coming weeks for apprising the business community in UK about the investment opportunities available in Pakistan. He said that the British High Commission in Pakistan is the largest diplomatic outpost of the Great Britain anywhere in the World and Pakistan ranks as the most important country in the security policy of the country.