Minister of State Reforms & Resource Mobilization Commission (RRMC) Ashfaq Tola held a meeting with the delegation of the Pakistan Stock Broken Association (PSBA) to discuss the budget proposals submitted by PSBA. The purpose of this meeting was to consider the proposals and suggest measures that would boost the capital market.
During the meeting, the representatives of PSBA engaged in a detailed discussion, highlighting the challenges faced by the industry and proposing effective measures to overcome them. The proposals encompassed a wide range of suggestions aimed at enhancing market participation, developing investment-friendly policies, improving transparency, and reducing regulatory barriers and bureaucratic red tape.
Tola was impressed by the comprehensive presentation and expressed his willingness to collaborate with the business community. His aim is to establish policies, procedures, and a tax system that actively promote investment in the capital market. It is worth noting that the capital market is a well-documented and tax-compliant sector of Pakistan.
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Zardi, the Secretary General of PSBA, expressed gratitude to Tola for his attentive and patient hearing. Zardi also expressed satisfaction with Tola’s positive response, affirming the Association’s hope that these proposals will pave the way for the development of a robust capital market. Such development would create new avenues for investments, benefiting all stakeholders involved.
Furthermore, PSBA conveyed confidence in the effectiveness of the proposed measures. They believe that if implemented efficiently, these measures can significantly contribute to the government’s goals of boosting economic growth, attracting more investments, and creating employment opportunities.
The meeting concluded on a positive note, with both RRMC and PSBA representatives pledging to work together to further the growth of the Pakistan Stock Market. This collaborative effort demonstrates a shared commitment to realizing the potential of the capital market and its crucial role in the country’s economic development.
