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Swedish envoy's KSE

visit a positive step

for rescheduling loan

RECORDER REPORT

KARACHI: The Swedish Ambassador Peter Tajler said on Tuesday that his visit to Karachi Stock Exchange (KSE) would be construed as positive step in the context of forthcoming discussions on rescheduling of foreign loans by the Swedish government.

According to a press release, KSE Chairman Arif Habib, welcomed the ambassador and explained various factors that have had a positive effect on the progress and development of the capital market in Pakistan.

He pointed out that since the opening of the market to foreign investors in 1991, the stock markets in the country have attained phenomenal growth reflected by increase of over eightfold in the listed capital and massive increase in the daily volume.

Arif said that the declining interest rates and good agricultural crop, as well as the new regulatory framework for the capital market with the formation of the SECP, are also conducive for the market and responsible for the current bull run. He said that it is also a reflection of the esteem in which the investors hold the current economic team of the government.

He said that the introduction of automated trading at the KSE had ensured greater efficiency and transparency which in turn led to greater investors confidence. The exchange was determined to ensure corporate governance, which was also a significant factor in the current surge being witnessed on the market.

Swedish Ambassador Peter Tajler thanked the KSE chairman and expressed good wishes for the future growth of the market. He added that the objective of his visit was to assess and witness the working of the stock exchange specially in the light of the current economic situation prevailing in the country.