Karachi, May 17, 2019: A delegation of leading Businessmen and Brokers comprising of Bashir Jan Mohammad, Arif Habib, Aqeel Karim Dhedhi, Ali Jamil and Chairman PSX Sulaiman Mehdi met the Finance Minister Dr. Abdul Hafeez Sheikh along with Chairman FBR Syed Shabbar Zaidi and Advisor to Ministry of Finance Dr. Khaqan Najeeb in Karachi to discuss the overall macro-economic situation of the country and its impact on the Capital Markets.
Considering the present depressed market sentiment, the delegation suggested various measures for strengthening the capital markets. They suggested that the proposed draft of Listed Companies (Buy Back of Shares) Regulations, 2019, be approved on priority and the limit of 10% on treasury shares should be enhanced. They proposed to resolve the present issue of ready futures transaction at PSX which is also hurting the market volumes. It was also recommended that keeping in view the attractive valuations at the PSX a market support fund may be considered.
The Finance Minister took note of all the suggestions positively and assured the delegation of the government’s full support and cooperation. Various other measures relating to Market reforms were also discussed.