ISLAMABAD, Jan 20: Shaukat Aziz, Adviser to the Prime Minister on Finance said on Monday that macroeconomic stability achieved by the government in last three years and capital market reforms bringing transparency and credibility have made the stock markets buoyant.

Shaukat Aziz expressed these views at a meeting with the chairman, Islamabad Stock Exchange, Ch Muhammad Sharif here on Monday.

Shaukat Aziz said it was a matter of satisfaction that performance of Pakistan Stock Exchanges have achieved global respect and credibility for Pakistan.

Now, he said, the stock exchanges are attractive and credible institutions for investment by the investors.

In this regard, he said, the government was promoting investment and was encouraging overseas Pakistanis to invest in mutual funds.

It was in process of introducing more attractive terms to make mutual funds even more viable for investment.

He underlined importance of expanding base of stock markets through computer networking and web of sub-agents among overseas Pakistanis and investors within the country and abroad.

He said that potential to invest needed to be tapped and new companies encouraged to invest in stocks.

He said that macro-economic stability was a source of satisfaction to international donors, financial institutions and credit rating agencies.

Pakistan now had comfortable gross foreign exchange reserves of over $9.4 billion, stable exchange rate, inflation was below four per cent stock markets were buoyant, tax collection was robust and investment was increasing, he added.

As a result, Shaukat Aziz said, the large-scale manufacturing registered a growth of 5.6pc.

The Chairman ISE Ch Muhammad Sharif said Islamabad Stock Exchange is in the process of installing software for effective computer networking to access potential investors of remote areas, especially Azad Kashmir to attract more investment.

Mr. Sharif said that to be operational by January 30, the networking would act as trading engine between Islamabad Stock Exchange and stockbrokers and investors.

The management of Islamabad Stock Exchange is also launching a programme to educate investors, through documentaries, hotlines and promotional material, he added.

Mr. Sharif further said that overseas Pakistanis were interested in investing in real estate, construction and stock markets.

The meeting among others was attended by Umar Iqbal Pasha, Aftab Ahmad Chaudhry, Mian Pervaiz Ahmad and senior officers of the Ministry of Finance.—APP