I would like to take this opportunity to extend my heartiest congratulations to his Excellency, the Prime Minister Mr. Nawaz Sharif, honourable Federal Minister for Finance and Revenue Mr. Ishaq Dar, the entire team of the apex regulator, the Securities and Exchange Commission of Pakistan "SECP" and all concerned capital market entities for showcasing a sense of esteemed business and financial market acumen by floating the notion of an integrated stock exchange and for ensuring that the idea is given shape in the form of, the now launched and fully integrated, Pakistan Stock Exchange (PSX).
As a country, we should appreciate and feel encouraged that the government has been a key enabler of this strategic move that shall boost Pakistan's economy by ensuring that we become competitive internationally as an attractive investment destination. The continued commitment, dedication and conviction displayed by SECP for introducing reforms to establish a fair, transparent and efficient market that engenders investor confidence and conforms to international levels of performance in today's highly competitive global environment is commendable.
It is a major step in transformation of Pakistan's capital market. The demutualization of stock exchanges and now their integration will assist in advertently increasing attractiveness of PSX for strategic investors; domestically and internationally. The advantages to TREC Holders from Karachi, Lahore and Islamabad are abundant as they will now compete on a single national level with similar state-of-the-art and transparent facilities and products.
As the sole clearing and settlement institution of Pakistan, National Clearing Company of Pakistan Limited "NCCPL" remains committed to developing and introducing innovative and investor oriented services in a bid to facilitate capital market growth, and complimenting apex regulator's strategy to increase existing investor base, and achieve enhanced compliance with all relevant international best practices and standards.