The Speaker National Assembly, Chaudhry Amir Hussain has said that government and Securities and Exchange Commission of Pakistan (SECP) had collectively focussed on the betterment of the physical condition of market and sought to bring reforms for the benefit of the country, its citizens and prospective foreign investors.
Speaking as chief guest at the inaugural ceremony of 'Sialkot Trading Floor' here on Monday, he said that these reforms were developed and implemented with full participation of three stock exchanges, the Central Depository Company of Pakistan and National Clearing Company of Pakistan Ltd.
The aim of these reforms was to increase investors' protection, reducing risk and enhancing market transparency and efficiency. The Speaker National Assembly said that market transparency, accountability and efficiency were the key objectives of the reforms.
In order to create awareness about the stock exchange among the business community of Sialkot, an Education Centre should be set up at Sialkot, he added. Choudhary Amir Hussain said that government had removed all hurdles hindering the exports. He urged upon the business community of Sialkot to implement polices of the government for enhancing the export volume manifold and ensuring economic stability. Due to the effective economic polices of the government, per capita income has increased considerably, he revealed.
Punjab government had approved RS 15 billion for infrastructure improvement for Sialkot, of which work on various mega projects costing Rs5 billion would be carried out soon.
Addressing the ceremony Adviser to Prime Minister on Finance, Dr Salman Shah said that government had eliminated bureaucratic hurdles and other barriers, which were hindering the smooth working of the industrial sector and exports of the country.
He said that Sialkot was the 'Export Capital' of the country and it would play an instrumental role in further accelerating the growth of the national economy. He pointed that revolutionary steps had been taken in 2005-06 budget to boost industrialisation adding that surgical, sports and textile sectors would also be benefited.
Dr Salman Shah called upon the private sector to come forward and establish maximum possible industries for banishing poverty and scaling down the unemployment graph in the country. The private sector could play a vital role in enhancing the productivity and generating employment opportunities for the jobless people in the country.
The Advisor stressed upon the business community to focus on human resource development adding that government would extend full support in this regard.
Hamid M.Imtiazi MD Lahore Stock Exchange, Dr Tariq Hassan Chairman Securities and Exchange Commission of Pakistan, Mohammad Ajmal Chema Provincial Minister Industries and Investment and President Sialkot Chamber of Commerce and Industry (SCCI) Qaiser Shabbir also spoke on the occasion.
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