September 20, 2003	Saturday	Rajab 22, 1424

KARACHI, Sept 19: The KSE will host a mega event “Pakistan: Investment Destination” in Dubai on September 22, to attract foreign fund managers to Pakistani stock market. Leading international conference organizers Euromony Conferences will organize this event for the KSE.

The Managing Director of the KSE Moin M Fudda said that it would be “breakfast roundtable discussion” on Pakistani stock market with foreign fund managers who were visiting Dubai to attend IMF-World Bank conference next week.

“We have decided to capitalize on this event and attract the visiting foreign fund managers to Pakistani stock market through a convincing discussion at Euromoney breakfast panel,” he said.

He said that Finance Minister Shaukat Aziz would deliver a keynote address on this occasion, highlighting the salient features of Pakistani stock market and its unprecedented performance in the past couple of years.

Fudda said that the KSE had emerged as the best performing market in the world during the last one year and gained investors’ confidence, and foreign investors would feel comfortable coming to this market.

“We want to tell this to foreign fund managers and request them to invest in the fast growing market in the world,” he added.

Fudda pointed out that the KSE was not spending any fund on this event. In fact, nine sponsors including few leading banks and brokerage houses were financing this event. Two lead sponsors are the NBP, HBL, followed by AKD Securities, Arif Habib Securities, Askari Bank, BMA Capital Investment, KASB and Orix Leasing.

He said that 100-Index of Karachi Stock Exchange (KSE) has recorded the highest gain of 63 per cent in one year among 20 leading stock exchanges of the world including London Stock Exchange and Dow Jones of New York.

The KSE chief said that economic reforms, regulatory reforms, monetary policy of the government and dividend yield were the major reason behind this unprecedented surge in the stock market.

He said the average dividend yield of listed companies was higher compared to other stock exchanges as well as saving deposit schemes and T-Bills.—APP