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Pak financial markets have bright future: Salman Shah |
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Advisor to Prime Minister on Financial and Economic Affairs, Dr Salman Shah has said that financial markets in Pakistan have optimistic and bright future as the country’s economy is becoming one of the largest economies of the region.
Addressing a seminar on “Future of Financial Markets in Pakistan” at Bahria University on Thursday, he said that International Investment Houses through their periodic publications had been indicating that Pakistan was becoming fast growing economy in the region, hence making it investment friendly. Besides, the advisor said that increasing GDP growth, decrease in poverty and unemployment and reduction in foreign debts were clear indicators reflecting healthy signs for the economy of the country. He said that Pakistan was emerging as one of the four major countries having great manpower resources adding that after India, China and United States, Pakistan would become biggest human resources country. We have all the potential to compete in the world market however it needs timely and managed utilization, he added. Salman further said that Pakistan’s economy was not based on imports only rather it had domestic growth and markets also adding that this was one of the attractions for foreign investors to come and invest in the country. He said that keeping in view the rising and positive economic indicators, international financial centres had been positively responding to the recent launch of bonds by Pakistan that he said was a testimony of strong economic fundamentals and sound foundations of the economy. He said that there has been manifold increase in market capitalization of Karachi Stock Exchange, indicating economic growth. He said that the country left out IMP a couple years ago to stand at its own and grow its economy in better interests of the country and for the welfare of people. To a question, he said that construction of mega dams was need of the hour to overcome present and future energy challenges, adding that government was committed to construct dams at priority basis. He said that work on Neelum and Jhelums Dam would be initiated soon. He observed that well-articulated and growth oriented approach of the present government was aimed at making national economy more vibrant, robust and dynamic to rope in short-term and long-term benchmarks
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