The Pakistan Stock Exchange (PSX), on Monday, opened with renewed promises to promote financial education, increase savings and investment habits, and connect more people to the formal financial sector for the betterment of their future.
The PSX, along with 78 other exchanges across the world, marked the sixth World Investor Week (WIW) 2022 under the umbrella of the International Organisation of Securities Commissions (IOSCO). It is holding the event for the second consecutive year, according to press statement issued by the PSX.
“In Pakistan, lack of financial education and awareness is a matter of deep concern,” PSX Chairperson Dr Shamshad Akhtar said as she struck the gong to formally open the day’s trading on the observance of investors’ week, the statement read.
“Deficiency in familiarity with long term investments and knowledge of the choice of suitable and diverse products, investment options and stock market perceptions are all holding back the capital market development.”
Given the lack of financial literacy and investor education, Pakistan’s financial penetration and diversification is a challenge and stifles saving and investment opportunities for the nation. Investor education relevance is self-evident in Pakistan, but it needs to be “targeted and reinforced by policies of the public sector and action in the private sector,” the statement quoted her as saying.
She said our best bet is to capitalise on the growing middle-income segment and demographic dividend in the economy, both of which require dedicated investor education.
Published in The Express Tribune, October 5th, 2022.
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