August 18, 2022
Pakistan Stock Exchange (PSX) held a meeting against the backdrop of previous meetings held with Federal Finance Minister for Finance & Revenue, Dr. Miftah Ismail, whereby Chairperson PSX, Dr. Shamshad Akhtar; MD & CEO PSX, Mr. Farrukh Khan, and Board Members PSX met with with Acting Governor SBP, Dr. Murtaza Syed, and Deputy Governors SBP, Ms. Sima Kamil & Dr. Inayat Hussain. Other participants of the meeting included Chairman AKD Group & Pakistan Stock Brokers Association (PSBA), Mr. Aqeel Karim Dhedhi; Chairman Arif Habib Group, Mr. Arif Habib; CEO Bank Alfalah Limited, Mr. Atif Bajwa; CEO Atlas Honda Limited, Mr. Saquib Shirazi, and other key market participants.
At the meeting, a wide ranging and robust discussion was held on broader economic issues and on matters impacting the capital market more directly. The Acting Governor SBP delivered a presentation on the macro economic situation and how it can be improved going forward. The PSX team presented its perspective to the SBP, highlighting that inflation, hike in interest rates, depreciation of Rupee against the Dollar, and the economic situation have affected the capital market adversely and that it looks forward to coordinating with the SBP to take effective measures to address these matters. PSX and all participants appreciated the work done by SBP under very challenging circumstances and congratulated them on successfully overcoming the present economic crisis. It was emphasised that this opportunity must be used to undertake deep reforms so that Pakistan does not have to go back to IMF again in the future.