Finance Minister terms capital market reforms vital for economic revival program

Islamabad: Interim Finance Minister Dr. Shamshad Akhtar on Saturday said that capital market reforms were critical component of the Caretaker Government's economic revival program.

She was chairing a meeting with the Chairman of the Securities Exchange Commission of Pakistan, bankers and heads of development finance in Karachi.

The initiatives are aimed to promote growth and development by harnessing the potential of capital market institutions to diversify sources of financing and exploiting innovative financing modalities.

Bankers and Development Finance Institutions agreed on the need for establishment of private equity and venture funds to serve as a catalyst for economic revival.

The Chairman SECP reinforced SECP's commitment and for creating an enabling regulatory environment.

 The Finance Minister appreciated SECPs active engagement and encouraged banks and DFIs to set the stage for this collaborative effort and fast track the setting up of the private funds to support industrial development.

The meeting concluded with resounding commitment from all participants, including banks and Development Finance Institutions, to work together for the greater good of Pakistan's economy.