Muhammad Ali, Chairman of Security and Exchange Commission of Pakistan (SECP) said that there is strong need for building up of regulating atmosphere in Pakistan for the growth of a contemporary business industry.
SECP organized the Workshop "Economic Reporting on Financial Development Index" on Thursday. The collaborating partners for the event were AGAHI and CIME, reported DAWN.
The course targeted at briefing the company reporters regarding methods and techniques to research the various economic indicators. Amir Jhangir, CEO Mishal, Mrs Puruesh Chaudhary, CIME Ambassador to Pakistan. Mature reporters Amir Zia and Ehtisham-ul-Haq provided their demonstrations on reportage of economy.
Briefing the reporters on economical industry changes and regulating structure of the SECP, Muhammad Ali said that the SECP has been developing great conventional of government across the investment industry to produce higher trader confidences.
Muhammad Ali said that in past the government’s mind-set has been to not allow method and businesses and dangerous projects which led to build up of resources with financial institutions and nationwide benefits. He outlined that in Pakistan, economical industry and National Savings have 90% of total resources of the economical industry. In many cases, business owners are not interested by our banking centric financial system and it is not possible to raise money from other resources. In a bid to improve access to finance and create a debt capital market, the Secp has presented various new principles like SME exchanges, pension’s schemes,micro-insurance for crops and livestock and commodity trading service to mutual funds, where the little traders would utilized their savings.
He highlighted on need for increasing people attention and education regarding capital market and mentioned that during last one decade the return percentage was 20% in gold and it was 30% for investment made in currency markets. The other areas, where the SECP has been concentrating are access to investment, increasing of product profile in stock markets, good governance and changes and helping the factors of HR of capital market.
Amir Jhangir, CEO Mishal briefed the members about the process implemented by the World Economic Forum in the growth of Financial Development Index. Amir said that the Index puts together a number of data to create an evaluation of the different factors of complicated financial systems, such as the institutional environment, the business environment, financial balance, financial institutions, investment marketplaces, and overall investment accessibility and access.
Senior Correspondent Amir Zia motivated the journalist to use social networking to review their information. He said that the Pakistan has missing its place in World Financial Index in past years and reporters should review on reasons that adding in decrease in Pakistan’s place in Global Financial Index.
Recently, the Global Competition Review (2012-13) from the World Economic Forum has valued the performance of the Securities and Exchange Commission of Pakistan (SECP) as the SECP has been rated 55th in 2012-13, as in comparison to 70th in 2011-12.