Capital market : Investor confidence to drive growth

SECP revives coordination committee for bourses.

LAHORE:

Market development, investor confidence and international standards will fuel growth of the country’s capital market in the years to come, says Securities and Exchange Commission of Pakistan (SECP) Chairman Muhammad Ali.

During his first visit to the Lahore Stock Exchange (LSE) since taking charge of SECP, Ali met with the newly-formed board of directors, members and management of the exchange to discuss matters of mutual interest.

Ali said that SECP was in the process of changing its approach from being a regulator to becoming a facilitator for exchanges and the corporate sector.

He encouraged the board and management of LSE to take steps for developing the market, restoring investor confidence and adopting international standards and best practices. He announced revival of the coordination committee for stock exchanges and SECP with the purpose of taking coordinated steps for the growth of capital market.

LSE Managing Director and CEO Aftab Ahmed Chaudhry gave a presentation on the trends in global markets and the current state of affairs at LSE. He also highlighted LSE’s past role in market innovation and gave an overview of the exchange’s future strategic roadmap and some of the initiatives currently being pursued.

Published in The Express Tribune, March 30^th, 2011.