Psx likely induct into emerging market index msci _ pakistan revenue

This was informed by Chairman, Securities and Exchange Commission of Pakistan (SECP) Zafar Hijazi at a briefing session chaired by Finance Minister Senator Muhammad Ishaq Dar on the consultative process with stake holders on draft Companies Bill, 2016.

The finance minister has been informed that PSX officials had briefed the MSCI on the reforms recently introduced in Pakistan’s capital market.

Moreover, during the PSX’s road shows in London, New York and Hong Kong, big fund managers from all over the world were briefed on recent reforms in the capital market as well as on economic turnaround in Pakistan.

MSCI and the fund managers greatly appreciated Pakistan’s economic reforms and improvement in country’s capital market and with that the likelihood of Pakistan’s capital market being included in the MSCI’s emerging market index had greatly improved.

The finance minister expressed appreciation of SECP’s efforts aimed at including Pakistan’s capital market in the MSCI’s emerging market index.

Hijazi informed the finance minister about salient features of new Companies’ Bill 2016 and said that the SECP has carried out an exhaustive consultative process with all the stake holders to seek comments/suggestions of all the stake holders on proposed draft of companies’ bill. Wiki msci He said that the SECP has organized consultative sessions and roundtables at all the major cities of Pakistan in collaboration with chambers of commerce and industry, FPCCI and ICAP.

The SECP Chairman informed the minister that following the completion of consultative process necessary amendments in the draft bill are being made in light of the suggestions received during consultation.

The minister advised SECP to organize a seminar in Islamabad to highlight the salient features of proposed companies’ bill. Msci eafe etf All leading professionals related with corporate sector and office bearers of chamber of commerce and industry and other business bodies should be invited to this seminar.

He also apprised the minister about the upcoming assessment of Pakistan’s capital market by International Organization of Securities Commission (IOSCO). What is msci world index He said that SECP has made significant reforms in regulatory framework of capital markets to implement the IOSCO’s principals.

He expressed the hope that Pakistan would achieve up to 80 percent compliance with the IOSCO principles from the existing level of 62 percent.

The finance minister appreciated efforts of the SECP for carrying out in depth consultations with the stake holders on the proposed draft companies’ bill.