LSE eyes new investors

Management will be answerable to shareholders, says managing director.

LAHORE: Managing Director of the Lahore Stock Exchange (LSE) Aftab Ahmad Chaudhry has said that he will target new investors, including institutions, workers, students and others to encourage them to invest more in the capital market.

Speaking at the first press conference after taking charge of the bourse at the LSE on Wednesday, he said the working of the stock market would be improved and the management would be answerable to members as well as investors in the future.

He said he would also tackle the issue of companies which were actually running in profit but showed losses in order to avoid dividend payments to shareholders.

Besides, the bourse management would contact such companies which have sufficient provident funds and worker welfare funds but were investing in savings schemes and banks.

“We will convince them that the stock market is offering good opportunities and returns of up to 15-18 per cent, and that there is minimum risk to their savings.”

He dispelled the impression that some brokers have great influence to drive the market upwards or downwards. He said some new products would also be introduced in the market, like real estate investment trusts.

Published in The Express Tribune, November 4^th, 2010.