Economic Officer of United States Consulate Lahore visits Lahore Stock Exchange

Lahore, May 07, 2013 (PPI-OT): The Economic officer – US Consulate Lahore, Ms. Doreen Bailey visited The Lahore Stock Exchange to seek an insight on the Capital Market of Pakistan. The MD/ CEO of The Lahore Stock Exchange, Mr. Aftab Ahmad Chaudhary along with his staff shared the structure and performance of the capital Market of Pakistan. He appraised the Pakistan’s capital market by sharing the current market capitalization that is reported to be $ 44 billion contributing to 17% of the economy’s GDP.

MD- LSE, Mr. Aftab Ahmad Ch strongly expressed to establish 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 is half of the Indian Currency along with other attractive features such as relatively low cost of production and labor available in Pakistan that produces competitive prices in the international market. On the contrary, Pakistan can also benefit the Indian industry in particular to the automobile industry that is far more competitive and cheaper in India and can feed to the excessive demand of vehicles 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, safe guarding the investor’s investment. On behalf of LSE’s management, he shared LSE’s seriousness in taking all relevant steps to ensure the protection of local and foreign investor’s investment.

Mr. Aftab also enlightened on the no restriction policy of the government to the foreign investors that gives a free hand to the foreigners in trading in the Capital Market of Pakistan. Foreigners can acquire up to 100% equity in a company provided they make a proper disclosure to the documents whereas the policy of the neighboring country such as India is studied to be rigid.

MD Lahore Stock Exchange stated that Pakistan is observed to be an isolated economy and the foreign investors and the financial institutions shall avoid making their investment decisions or judgments based on the political, economic and social conditions of Pakistan rather their decision shall be based on the expected dividend yield that they could earn.

Mr. Doreen showed her concern for Pakistan in becoming a vibrant emerging capital market and expressed that Pakistan has all the potential to increase its economic growth given the regulations, the size of the economy, security conditions, political stability and inflation are well maintained and taken care of. Ms. Doreen was hopeful that Pakistan has all the potential to grow and compete the developed capital markets in future.

For more information, contact:
Lahore Stock Exchange (LSE)
19, Khayaban-e-Aiwan-e-Iqbal,
P.O. Box: 1315,
Lahore-54000, Pakistan
Tel: +9242 636 8000
FAX: +9242 636 484 -85
E-mail Address: info@LahoreStock.com
Web Site: http://www.lse.com.pk

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