PSE would contribute hugely in strengthening the economy, said Ishaq Dar while inaugurating the new exchange.
Islamabad - Finance Minister Ishaq Dar emphasised that there should be national condense on the economy beyond partisan consideration.
Published: Tue 12 Jan 2016, 5:55 PM
Finance Minister Ishaq Dar, on Monday, inaugurated the Pakistan Stock Exchange (PSE), which has been formed after the merger of the three stock exchanges of Lahore, Karachi and Islamabad.
Dar hoped that the PSE would contribute hugely in strengthening the economy and claimed that Pakistan is now being described in many countries as the second best destination for investment. He emphasised that there should be national condense on the economy beyond partisan consideration. All political parties should agree to adopt an economic policy that should move the country forward on the path of progress, prosperity and well being of the populace, he said.
"Today is a historic day for Pakistan. It took 15 years to make the PSE dream come true. The KSE will now be called PSX," Ishaq Dar said, while addressing the inaugural ceremony.
Pakistan has a bright future ahead and all issues can be resolved with honesty and sincerity, Dar said. "The government's vision is very clear on law-making. With honesty and sincerity everything can be done," he said.
"The integration of three exchanges has completed the second phase of the Stock Exchanges Demutualisation and Integration Act 2012, passed by a joint session of parliament," Radio Pakistan reported.
Further, the finance minister said that the government has prepared a roadmap for reviving Pakistan's economy and is working in all sectors of the economy. "We have foreign exchange reserves for at least six months. Around 22 international institutions have recognised the Pakistani economy as a stable macro economy."
Dar also said that the economy was facing a very dangerous situation in 2012-13, but due to the efforts of the incumbent government, the international rating of Pakistan's economy has turned positive. "Pakistan is now attracting foreign investments and our economy is only getting better," he said, adding that around 10,000MW of electricity would be added to the national grid by March 2018, which will bolster industry and agriculture.
- business@khaleejtimes.com
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