London, February 19, 2015 (PPI-OT): Karachi Stock Exchange (KSE), in conjunction with the Pakistan High Commission London organized an Investment Conference to reach out to the Pakistani diaspora and to create awareness about the investment potential in Pakistan’s capital markets and other opportunities available in Pakistan that dovetail global investment mega trends. The Conference was held in London on 18 February 2015 and attended by more than a hundred investors.
Mr Muhammad Zubair, Minister of State for Privatization; Mr Munir Kamal, Chairman KSE; Mr Nadeem Naqvi, Managing Director of KSE, and Haroon Askari, Deputy MD KSE addressed the participants and gave them an overview of the robust performance of Karachi Stock Exchange. It was informed that growing agriculture sector, ever-increasing remittances which stand at $15 billion today and rising cash-flow in the corporate sector were the critical factors for the stellar performance of KSE.
The Non-Resident Pakistanis (NRP) were apprised that the corporate sector of Pakistan was offering huge profits and it was about time for them to consider investing in the capital market of Pakistan. It was shared with the participants that with growing middle class of Pakistan, the investment opportunities were also growing in various sectors of economy which the overseas Pakistanis need to know in order to make informed business and investment decisions.
Foreign institutional investors use Special Convertible Rupee Account (SCRA) for investment in our capital market where the funds can be transferred to and from outside Pakistan or credited to a foreign currency account maintained in Pakistan at any time without restriction or approval by the State Bank of Pakistan.
However, the process of such account opening and its working is not well understood by many Non-Resident Pakistanis living outside Pakistan. Presentation was made explaining the benefits of opening a SCRA in Pakistan. The presentation also highlighted the risk-return profile and historical performance of various asset classes.
The Minister told the participants that Pakistan’s economy, despite many challenges, was beginning to show growth traction. Corporate sector profitability has been consistently improving and keeping pace with investors’ expectations. KSE 100 Index companies have shown nearly 20% p.a. growth in profits successively in last 5 years and return on equity of about 20% during this period.
This makes the listed corporate sector in Pakistan amongst the top in Asia. KSE has been among the top 10 best performing markets three years in a row, according to Bloomberg News. The Minister also briefed the attendees about government’s privatization plan and said that all 9 power distribution companies would be privatized by June 2015 to bring about efficiency in the energy sector.
For more information, contact:
Head of Chancery
High Commission for Pakistan in United Kingdom
34 – 36 Lowndes Square
Mr. Shahid Nawaz
Tel: 020 7664 9271
Fax: 020 7664 9255