Minister of State for Privatization Muhammad Zubair has said that despite the political protests and sit-ins, the country's stock market has performed very well and attracted local and foreign investors, indicating their confidence in the government policies.
The minister was addressing the 6th Annual SAFE-PSX IPO Summit 2016 organised by South Asian Federation of Exchanges (SAFE) in collaboration with Pakistan Stock Exchange, Central Depository Company of Pakistan Ltd, AKD Securities Ltd, Topline Securities and JS Global Ltd here on Friday.
He said the foreign investors give importance to financial health of the listed companies and their dividend to the shareholders. The performance of the equity market is a reflective of economic growth because of the continuity in the political process, he added. With the modernisation of legal and regulatory oversight mechanism and establishment of single stock exchange in the country, Pakistan is now poised to take full benefit from the potential investment flows, he maintained.
SFAE Secretary General Aftab Ahmed Chaudhry, Pakistan Stock Exchange's Deputy Managing Director Haroon Askari, and Securities and Exchange Commission of Pakistan's Commissioner Aqib Saeed also addressed the event and highlighted the objectives of the IPO Summit.
They said that the summit is aimed at creating awareness regarding benefits of the listing on the stock exchange and how access to public capital can help companies with clear vision for future growth. The summit aims to highlight the benefits and the pathway to manage a successful initial public offering to such potential companies which are considering a debut as a public listing company.