T-Bills trading initiated for the first time in Karachi Stock Exchange
KARACHI: Federal Finance Minister, Mohammad Ishaq Dar launched the formal trading of government guaranteed security papers on Tuesday, ARY News reported.
Speaking at the ceremony of the formal launching of listing of T-Bills on Karachi Stock Exchange (KSE) at a local hotel in Karachi, Ishaq Dar said that this is a first step in a long journey whose eventual destination is to develop deep and liquid bond markets to fund both public and private sector investment in Pakistan.
He highlighted the importance of developing a strong and vibrant debt capital market in the country.
The Minister referred to a McKinsey's study suggesting that Asian region as a whole must commit close to dollars eight trillion to infrastructure projects over the next decade to remedy historical under-investment and accommodate the explosion in demand.
He said the magnitude of under-investment in infrastructure and increase in demand is even higher in Pakistan and therefore we must prepare ourselves to mobilize the financing needed to close the widening gap.
Instead of Ishaq Dar’s arrival in Karachi, the KSE 100-Index wasn’t able to recover and witnessed the decline of 119.51 points and the 100-Index closed at 25884.38.