The Pakistan Industrial and Traders Association Front (PIAF) has appreciated the launch of a single unified stock exchange of the country - Pakistan Stock Exchange Limited (PSX), which will go a long way towards sustainable development of Pakistan capital and financial markets.
PIAF Acting Chairman Tanveer Soofi said that a robust capital market can prove as a basic building block for a strong economy. In collaboration with the Securities and Exchange Commission of Pakistan and the State Bank of Pakistan, the government is striving to improve the outlook of stock markets.
He said that the country's capital markets have indeed achieved a significant milestone today. The unity displayed by the stakeholders for successful establishment of the PSX is very impressive, he added. He stated that it is heartening to note that the process of integration of the stock exchanges has been completed without disagreement or conflict.
PIAF vice chairman Shahzeb Akram said that creation of a strong, vibrant and competitive financial and capital market was vital for high economic growth.
The new PSX has also sent a strong message that the nation stands united on important matters and that there is no lack of commitment and courage by the stakeholders. The establishment of PSX is an unprecedented event in our history. It is expected that the unification of the trading platforms will create multiple benefits for the market. He asked the government to ensure that the PSX should be a completely revamped and progressive exchange to attract global strategic investment and benchmarked internationally as one of the choicest investment destinations. The PIAF leaders said that business community is dedicated towards achieving the goals of economic growth and prosperity, eradication of poverty, and development of the social and economic strata of the country.