Shaukat Tarin affirms to review PSX proposals and recommendations

Shaukat Tarin briefed them about the overall progress of the economy and said, “The economy is recovering, with revenue collection 40% above last year

KARACHI: The Finance Minister Shaukat Tarin affirmed to review the proposals and recommendations of Pakistan Stock Exchange (PSX) and expressed his willingness to expedite PSX tax refunds, re-instate tax rebate for companies upon listing, and support SMEs growth through listing and funding capital market development.

The Minister also affirmed that he will continue visiting PSX on quarterly basis to evaluate the development and progress of the capital market and follow through for successful implementation.

Addressing the participants at the meeting Shaukat Tarin briefed them about the overall progress of the economy and said, “The economy is recovering, with revenue collection 40% above last year”.

Regarding the Government’s plans to augment the economy and enhance the capital markets, the Federal Minister said, “we will consolidate industry through CRA to create scale. We are working on reforming the SOEs and those SOEs which have sufficient cash available, will be encouraged to pay dividends and that will help increase value of PSX”.

He apprised the participants that the government is focusing on IT & software exports and encouraging start-ups. He further elaborated that the ministry is encouraging banks and DFIs to work together with capital market entities. “I am extremely happy with the progress made by PSX”, the Finance Minister added.

In a welcome development for PSX, the Federal Minister for Finance & Revenue, Shaukat Tarin visited the Stock Exchange on Friday, August 20, 2021. He was accompanied by Dr. Waqar Masood Khan – Special Assistant to the Prime Minister and Asim Ahmad – Chairman, FBR.

The Minister was received and welcomed by the PSX Chairperson, Dr. Shamshad Akhtar. The government representatives held talks with the Managing Director of  PSX, Board Members and Capital Market stakeholders regarding matters related to the Capital Market and its development.

The Capital Market participants included Arif Habib – Chairman, Arif Habib Group; Aqeel Karim Dhedhi – Chairman AKD Group; Jahangir Siddiqui – Chairman, JS Group; Adnan Afridi – MD, National Investment Trust Limited; Dr. Amjad Waheed – MUFAP Chairman and top management of CDC and NCCPL.

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