LAHORE: The US Consulate Lahore's Economic Officer Ms. Doreen Bailey visited Lahore Stock Exchange to take an insight of Capital Market of Pakistan.
The LSE Managing Director and CEO Aftab Ahmad Chaudhry along with his staff shared the structure and performance of the capital market of Pakistan. He appraised her about Pakistan's capital market by sharing the current market capitalization that was reported to be $44 billion contributing to 17 percent of the GDP.
Aftab Ahmad Chaudhry observed that a free trade between Pakistan and India that could yield mutual benefits and accelerate towards the economic development on both ends as Pakistan's currency rate was half of the Indian Currency along with other attractive features such as relatively low cost of production and labour available in Pakistan that produced competitive products prices in the international market.
While, Pakistan could also benefit from Indian industry particularly the automobile that was far more competitive and cheaper and could meet the vehicles' demand in Pakistan.
He also highlighted the various initiatives taken in building a strong mechanism and infrastructure to bring maximum transparency in the trading system thereby, safeguarding the investors' money. On behalf of LSE's management, he shared LSE's seriousness in taking all relevant steps to ensure the protection of local and foreign investors.
Aftab Chaudhry added that no restriction policy of government to the foreign investors that gave a free hand to foreigners to trade in capital market of Pakistan.
Ms. Doreen Bailey expressed her pleasure for Pakistan in becoming a vibrant emerging capital market and said that Pakistan had all the potential to increase its economic growth given the regulations, the size of the economy, security conditions, political stability and inflation were well maintained and taken care of. Ms. Doreen was hopeful that Pakistan had all the potential to grow and compete the developed capital markets in future.
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