Dr. Amjad Waheed, Chairman, Mutual Fund Association of Pakistan (MUFAP) called on the Finance Minister Senator Ishaq Dar to discuss growth development of Mutual Fund Industry in Pakistan and tax related issues.
Chairman MUFAP informed the Finance Minister that with a favorable investor sentiment based on an improvement in macros, coupled with emerging clarity on economic policy at the national level, mutual funds are gradually increasing their exposure to the stock market. He said that, with minor adjustment in taxation framework, there is huge potential in the mutual fund Industry for growth. He added that the Association is ensuring transparency, high ethical conduct and growth of the mutual fund industry.
The Finance Minister said that the renewed faith of investors in economic policies and reforms introduced by the present Government has led to the impetus in the Karachi Stock Exchange and it has reached to a record level. The Finance Minister added that the listing of Treasury Bills on Lahore and Islamabad Stock Exchanges will be a historic milestone in Pakistan financial architecture which will enable small investors and common people to invest in Government T-Bills which can be bought and sold easily.
Finance Minister underlined the need for initiating development projects in the Country and said that Pakistan can only move forward if there is adequate revenue generation to meet the growth requirements. He assured the MUFAP that their concerns will be sympathetically considered. The Finance Minister formed a 3 member committee headed by Chairman SECP and comprising Chairman MUFAP and Chairman FBR to deliberate on issues related to mutual fund industry and come up with their recommendations next week for consideration.
No comments:
Post a Comment