KARACHI, April 26: The effects of economic turnaround in Pakistan's economy on the country's capital market were highlighted at the two-week Capital Market Programme at Washington DC
, a press release issued by the Karachi Stock Exchange on Monday said.
Mr. Moin Fudda, Managing Director, KSE gave his presentation to the participating delegates from 40 countries; the officials of the US Securities & Exchange Commission and World Bank.
Mr.Fudda highlighted economic, corporate and capital market reforms undertaken by the Ministry of Finance, State Bank of Pakistan and Securities and Exchange Commission of Pakistan, which, he said, had resulted in strengthening, stability and growth of stock exchanges of the country.
He told about the progress of the KSE and explained the recent measures taken to strengthen risk management, attracting new listings, introducing internet trading and promoting investors' education as well as fair trade practice & market transparency.
"These initiatives have resulted in substantial growth of KSE, where market capitalization has increased by 300 per cent during last four years to $25 billion and the stocks are still trading at P/E ratio of 10- 12 with an average dividend yield of 6 to 8 per cent," KSE MD was quoted to have said.
It was explained that foreigners could freely trade in the market and there was no restriction on repatriation of capital gains, principal investments and dividends to the country of origin.
The KSE press note stated that the Forum took keen interest in privatization process of government-owned entities through stock exchanges, which had generated interest amongst small investors.
