KARACHI, Aug 24: The Federation of Pakistan Chambers of Commerce and Industry has described the reforms in stock exchanges as dynamic step, which will also restore confidence amongst small investors.

FPCCI Vice-President Akbar Abdullah in a press statement here on Wednesday said the reforms would ensure stability of share prices and bring positive change in the capital market.

He, however, urged the SECP to introduce such reforms which could discourage the monopolistic regime in the stock markets so that random and unexpected fluctuations could be checked and transformed into price stability. He also urged the commission to discourage speculative measures to restore the confidence of small investors.

“The reforms should aim at transforming stock exchange into the most reliable market for investment,” he asserted.

He said the stock market had a great attraction for investment in view of the fact that people realized it as a productive way to make money.

The FPCCI vice-chief said that although the stock market in the countries like Pakistan was not considered as the real indicator of economic development, yet it was regarded as one of the most attractive hub of capital activities.—APP