Finance Minister terms reforms vital for economic revival program

ISLAMABAD: Interim Finance Minister Dr. Shamshad Akhtar says capital market reforms are critical component of the Caretaker Government’s economic revival program, ARY News reported.

As per details, Federal Minister for Finance, Revenue, and Economic Affairs Dr. Shamshad Akhtar extended her unwavering support to Securities and Exchange Commission of Pakistan (SECP,s) initiatives aimed at establishing financial institutions backed private funds to serve as a catalyst for economic revival.

She asked the fiscal and regulatory sides, including the Federal Board of Revenue, the State Bank of Pakistan, and the SECP, to extend complete support to the initiatives of seeking investments from local financial institutions, institutional investors, government DFIs, and corporate entities with the potential to attract foreign capital.

The finance minister was chairing the meeting held by the Securities and Exchange Commission of Pakistan (SECP) to discuss proposals for establishing financial institutions backed by private funds to serve as a catalyst for economic revival.

Shamshad Akhtar suggested making efforts, particularly to attract climate and ESG-focused international institutional investors.

She stressed the urgency of implementing these initiatives to signal Pakistan’s readiness for business and economic growth to the global market and foreign investors.

The meeting brought together leaders from Commercial Banks and Development Finance Institutions (DFIs).

Chairman SECP Akif Saeed welcomed participants at the meeting, while Commissioner Mujtaba Ahmad Lodhi discussed SECP’s commitment to creating an enabling regulatory environment and its active engagement with banks and DFIs.