Chairman, Mutual Fund Association of Pakistan (MUFAP), Dr Amjad Waheed here on Wednesday called on Finance Minister, Senator Ishaq Dar and discussed growth development of mutual fund industry in Pakistan and tax related issues. Chairman MUFAP informed the Finance Minister that with a favourable investor's sentiment based on an improvement in macros, coupled with emerging clarity on economic policy at the national level, mutual funds are gradually increasing their exposure to the stock market.
He said with minor adjustment in taxation framework, there is huge potential in the mutual fund industry for growth. He added that the Association is ensuring transparency, high ethical conduct and growth of the mutual fund industry. The Minister said the renewed faith of investors in economic policies and reforms introduced by the government lead to the impetus in the Karachi Stock Exchange and it has reached a record level.
The Minister added that listing of Treasury Bills on Lahore and Islamabad Stock Exchanges will be a historic milestone in Pakistan financial architecture which will enable small investors and common people to invest in Government T-Bills which can be bought and sold easily. He underlined the need for initiating development projects in the country and said that Pakistan can only move forward if there is adequate revenue generation to meet the growth requirements.