LONDON, Jan 21: Drastic structural economic reforms and current indicators in Pakistan point towards a very attractive environment in the Capital Market and overseas Pakistanis should take lead in making investment, said Chairman SEC Khalid Mirza here.

He was speaking at a seminar organized by the Pakistan Society to invite Pakistani expatriates to invest in the Capital Market here. Chairman Securities and Exchange Commission of Pakistan Khalid Mirza and other officials of the delegation was here to explain investment opportunities to Pakistani expatriates.

Mirza headed the delegation which was here to invite Pakistani business community to invest in their homeland as the investment environment and all economic indicators were positive, rupee was stable with almost no capital flight hence this was the proper time to make investment, he said.

And coupled with all these opportunities, is the fresh investment opportunities in Afghanistan because those based in Islamabad could get all the required information about this country, said Khalid Mirza.

Yasin Anwar of Pakistan Society said following capital disruption across the globe, in the wake of Sept 11 terrorist attack against the US, Pakistan had managed to win B rating which was a positive sign.

“I am absolutely certain that within a few months it will be picked up by other people hence you should not miss these opportunities,” said Khalid Mirza

He said government had put in place needed safeguards to ensure protection of the investors and improved disclosing standards and have taken steps to check kerb market abuses. Blank sales have been banned as these amounted to market abuses. He said more steps were being taken to integrate Pakistani stock market with the international markets and regulate the capital market.

Mirza said Pakistan has made “remarkable progress” in regulation of Stock Market due to restructuring of its economy and its Stock Exchanges were being managed by professional people. He said 40 per cent directors at Stock Exchange are independent professionals, and stock exchanges were being run in the manner every body’s interests were protected. A reliable audit is carried out and auditors had been asked to produce reports which should be above board.

As a result of all these measures Pakistan had now implemented 39 points required at the international standards. SECP, he said, was now operating independent of the govt rules and regulations. It was run by professionals who were trying to achieve equity and justice.—APP