SMEs need to get listed on PSX for raising capital: ICCI
ISLAMABAD: President Islamabad Chamber of Commerce & Industry (ICCI) Ahmed Hassan Moughal said that the capital markets are playing crucial role in mobilizing domestic resources for channeling them towards productive activities and stressed that the Pakistan Stock Exchange (PSX) should come up with more attractive packages for SMEs to facilitate their fast development.
He expressed these views while addressing an awareness program jointly organized by the ICCI and PSX here on Friday to educate potential investors about the dynamics and workings of the Stock Exchange.
The program sought to educate the business community about the potential opportunities for raising capital from the capital market for business expansion and growth.
It was highlighted that capital market was an important source for mobilizing idle savings from the economy for further investments in the productive channels.
The business community was also apprised of the operational, strategic and regulatory developments taking place at PSX.
Speaking on the occasion, Ahmed Hassan Moughal said that the PSX has developed a specialized SME Board for listing and trading of SMEs shares and it should create maximum awareness about this facility to the SMEs across the country so that they could raise capital from capital market to fund their growth and expansion needs.
Senior Vice President ICCI Rafat Farid and Vice President Iftikhar Anwar Sethi said that SMEs were the backbone of the economy and PSX should launch new investment avenues for them so that these business enterprises could raise interest-free capital for achieving better growth.
They said to increase access to equity finance for SMEs, growing number of developing countries were creating specialized equity markets and stressed that PSX should consider on these lines. They said PSX should also help SMEs in documentation matters to facilitate their listing on capital market.
Speaking on the occasion, Regional Head PSX Islamabad, Asghar Abbas Naqvi said that between January 2012 and May 2017, value of some stocks listed at PSX grew by 6-99 times. He said PSX was working to facilitate investors awareness for investing in the capital market so that the retail investors base could be further enhanced.
Asghar Abbas Naqvi said that the PSX was the main source of increasing personal and national wealth and urged that more SMEs should list themselves on the stock exchange to maximize their business prospects.