I am truly pleased to see a program as unique as the IPO Summit. This platform brings together the potential companies and important stakeholders under one roof. The primary objective of the summit is highlighting how markets can assist the potential IPO companies to find an alternate source of financing, however its benefits are not limited to this. IPO Summit also discusses fundamentals of IPO, its issues and potential challenges.
Pakistan's capital market can play a vital role in fueling growth and development of the listed enterprises. Thus, with a broader vision and a brave ambition, helping companies go public can enable them to tap into long term financing arrangements benefitting not only the companies but also the shareholders. Companies need to be informed about the boundless benefits of IPOs which does come with certain requirements. Awareness and some capacity building can help reap their benefits. A way to get an easier and cost effective access to the capital that our markets can offer turning them into tomorrow's blue chip companies, may be a direct and simplest benefit. But there are many more benefits beyond this which can be explored.
In Punjab 90% of the output of goods and services is produced by the private sector. The government is very clear on its understanding that its growth targets and employment for all target, can be met through strong development of the private sector. One of the aspects in business expansion is limited availability of capital. Efforts to continuously reach out to new industries and businesses and encouraging them to think out of box and turn their vision into reality, are some of the things that PSX and other investment banking institutions in Pakistan should be focusing on. I am glad that IPO Summit is one of such things being done in the country to annually showcase the pipeline of the IPO ready companies.
Once again, I am truly honored to be a part of this event. I extend my heartfelt congratulations to the South Asian Federation of Exchanges (SAFE) and Pakistan Stock Exchange (PSX) for taking the initiative of the IPO Summits to a bigger and superior level this year.