Shaukat Tarin for mobilising savings though mutual funds

Published November 26, 2021
Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin holds a meeting with Citibank Pakistan President Ahmed Bozai in Islamabad on Thursday. — PID
Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin holds a meeting with Citibank Pakistan President Ahmed Bozai in Islamabad on Thursday. — PID

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

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Judiciary’s SOS
Updated 28 Mar, 2024

Judiciary’s SOS

The ball is now in CJP Isa’s court, and he will feel pressure to take action.
Data protection
28 Mar, 2024

Data protection

WHAT do we want? Data protection laws. When do we want them? Immediately. Without delay, if we are to prevent ...
Selling humans
28 Mar, 2024

Selling humans

HUMAN traders feed off economic distress; they peddle promises of a better life to the impoverished who, mired in...
New terror wave
Updated 27 Mar, 2024

New terror wave

The time has come for decisive government action against militancy.
Development costs
27 Mar, 2024

Development costs

A HEFTY escalation of 30pc in the cost of ongoing federal development schemes is one of the many decisions where the...
Aitchison controversy
Updated 27 Mar, 2024

Aitchison controversy

It is hoped that higher authorities realise that politics and nepotism have no place in schools.