CM welcomes establishment of PSX by merging the three stock exchanges

Peshawar: Chief Minister Khyber Pakhtunkhwa Pervez Khattak has welcomed establishment of Pakistan Stock Exchange (PSX) by merging the three stock exchanges of Karachi, Lahore and Islamabad, and urged the Securities and Exchange Commission of Pakistan (SECP) to set up a branch of PSX in Peshawar for better facilitating the capital investors of the province.

He said that after spending two and a half years for introducing enormous legislation, system reforms and policy initiatives, the present KP Government was now in an appropriate position to offer various feasible development projects for investment, particularly in energy, minerals and communications sectors. He assured that investors would be given fool proof security and other necessary facilities for such projects.

Speaking as Chief Guest at the awareness program regarding PSX at a local hotel on Thursday, the Chief Minister said that the KP government was not only encouraging the private sector but it had practically started to involve this sector in the service delivery, administration and policy making of various public sectors which mainly included health, industries, communication and education etc.

The program was arranged by Karachi Stock Exchange (KSE) in collaboration with SECP and Arif Habib Group of companies. The Chairman SECP, Zafarul Haq Hijazi, Chairman of Arif Habib Group, Mr, Arif Habib, and Managing Director of KSE, Nadeem Naqvi also spoke on the occasion and highlighted capital market investment mechanism and opportunities in Pakistan.

They also appreciated the governance and economic growth reforms of the present KP government. “The lucrative incentives announced by the KP government for industrialization is wise and novel approach for ensuring rapid economic growth and overcoming unemployment”, remarked Arif Habib in his address.

He also appreciated that the present leadership of the province was standing for securing the rights of the province with reference to Pak China Economic Corridor Project and stressed that local investors and non-resident Pakistanis should be given priority in 25% equity investment in CPEC projects. He also offered free of cost advisory services and financial arrangements of his group to KP government for its energy other sectors’ projects.

The Chief Minister Pervez Khattak told that investment environment had been made quite favourable in KP by introducing the industrial and mineral policies and in such situation the proposed capital investment hubs by PSX would further enhance investment opportunities in this province.

“Our government established one window service centres to facilitate industrial investors and offered them sizeable subsidies on bank loans, acquisition of land, transportation of machinery and electricity bills”, the Chief Minister informed.

He said that rich natural mineral resources and hydropower generation opportunities are available for investment while the provincial government was taking concrete measures for the revival of the industrial zones, and investors should avail these opportunities.

The Chairman SECP, Zafarul Haq Hijazi in his speech told that capital hubs of SECP would be established in small cities and one of them had already been opened in Abbottabad.

The Chairman said that he was more convinced by KP government initiatives for economic and industrial growth and will pursue companies to create capital market in Khyber Pakhtunkhwa. He said that due to the rich natural resources available in KP, the big investment and financial companies and groups would happily like to invest in this province.