Stock market delegation visits Hafeez Sheikh and Governor SBP

By Staff Reporter
A meeting between stock exchange members’ delegation consisting of Arif Habib, Aqeel Karim Dhedhi, Basheer Jan Muhammad, and Sulaiman Mehdi held with Finance Minister Hafeez Sheikh that ended on a positive note on Friday.
Finance Minister approved initiation of “Disaster Support Fund” worth approx. 17bn rupees which will be managed by NIT. MD NIT Adnan Afridi was called on immediate notice to discuss execution of the fund. Finance Minister also committed to expedite the Buy Back regulation amendments to support and hold destabilizing stock prices.
With regard to the current issue of Show Cause notices in relation to short selling, Finance Minister has requested SECP to expedite and clear the ambiguities between the authorities and brokers to bring investor class confidence in the market.
Besides, another development stated that the same delegation was meeting with Governor State Bank of Pakistan Dr. Raza Baqir to discuss and resolve issues in relation to Monetary Policy and Exchange rate affecting the stock market and the economy.