09 January 2004	Friday	16 Ziqa'ad 1424

KARACHI, Jan 8: The Securities and Exchange Commission of Pakistan (SECP) has advised leasing companies and modarabas to aim at multi-dimensional growth to achieve an enhanced role in the financial sector of the country.

Chairman SECP Dr Tariq Hassan stated this while speaking at the concluding session of a three-day workshop on "Winning with Leasing", organized by Leasing Association of Pakistan (LAP) and conducted by a world renowned expert, Sudhir Amembal here on Thursday.

Highlighting some of the areas that leasing companies need to focus on, Dr Hassan said that the geographical dispersion beyond the major towns needed to be achieved to enhance the outreach of the sector to a vast number of potential clients.

He further added that leasing had acquired a multidimensional and multi-product role in the world and that Pakistan would have to catch up with the trend. "There is also a need for the leasing companies to develop and introduce innovative products and services for their clients", he added.

The SECP chief also emphasized that the development of SME sector was a very crucial element for the empowerment and economic uplift of the common man. He was of the view that the leasing sector had an edge in this area, as over the years this sector has had an appreciable contribution in providing essential credit for SMEs.-APP