ISLAMABAD: Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin on Thursday emphasised the need for creating awareness and increasing outreach of mutual fund market to mobilise savings and investment in the country.

The finance adviser was talking to a delegation of Mutual Funds Association of Pakistan (MUFAP) led by its Chairman Dr Amjad Waheed during a meeting, a press statement issued by the Finance Ministry said. Senior officers of Finance Division also participated in the meeting, the statement added.

Highlighting the importance of capital market, Mr Tarin said the government was determined to uplift the living standards of all segments of the society. “The government is encouraging the investment opportunities and stimulating economic activities in Pakistan,” he added.

He assured the delegation of government’s all out facilitation and cooperation in resolution of its issues and extended support to flourish the mutual fund market in Pakistan.

Earlier, Dr Waheed presented an overview of the mutual fund industry in Pakistan. He said MUFAP was working to promote and increase savings in the country with diversified product range suiting all categories of investors. “It is a potential fund raiser for government-development projects,” he added.

He also apprised the adviser about key impediments in growth of mutual funds and sought support of the government to develop and flourish capital markets.

The delegation thanked the finance adviser for extending generous support to the mutual fund market.

Meanwhile, Mr Tarin during a meeting with a delegation of Citibank Pakistan discussed different proposals for securing investment, commodity hedging for budget certainty and debt management.

The Citibank delegation was led by its President and Country Officer for Pakistan Ahmed Bozai, a press statement issued by the finance ministry said.

Mr Bozai briefed on overall financial side of Citibank and outlined areas to work out an arrangement in a collaborative manner with the government relating to financial expertise in imports and exports side.

The adviser appreciated the contribution of Citibank in strengthening the business and economic activities of Pakistan and highlighted various reforms of the government for social and economic uplift of the masses.

Considering the proposals and programs of Citibank for enhancement of economic and financial activities in Pakistan, the adviser stressed for possibilities of increased business collaboration in the fields of oil, gas, palm oil and other commodities.

Published in Dawn, November 26th, 2021