It gives me great pride on this truly historic occasion of the launch of the Pakistan Stock Exchange. This is a landmark achievement not just for the capital market but for the nation as a whole. I have no doubts that this initiative will further strengthen the trust of stakeholders on our capital market and help it in becoming a beacon of prosperity in the years to come.
It started as a monumental act passed beginning with the demutualization of the exchange. We now enter into the second phase. This is by far the most impactful development for the capital market. The emergence of the Pakistan Stock Exchange will prove to be progressive which will result in the mitigation of the major impediments currently affecting the investment realm.
Perhaps the most significant issue being faced by the Pakistan capital market is the low investor base. Through the integration of the three stock exchanges, there will be much greater participation in the market from across the country and amongst a wider spectrum of investor classes. The integration will also bring about operational and informational efficiency that will enhance the transparency of the stock market and add much needed depth and liquidity.
Another major benefit of the integration is the resulting improvement in Price discovery mechanism creating transparency as investors will have a single trading platform allowing for standardised price discovery and will be exposed to the same prices. Moreover, the Pakistan Stock Exchange will also have a SME counter which will encourage Small & Medium Enterprises to participate in the stock market and reap the benefits that are inherent in it.
I would like to commend and congratulate all the stakeholders but most importantly, the efforts of the Securities and Exchange Commission of Pakistan. Their efforts have made this achievement possible and is also reaffirming for the support that can be anticipated in the years to come. SECP has truly laid the groundwork for the transformational development of the capital market.
At CDC, we have always been a strong believer in capital market development and with the launch of the Pakistan Stock Exchange, we are confident that this will add tremendous fervour to our goals. I once again congratulate all the stakeholders and the entire nation, as today "Everyone is the Winner".