State-owned enterprises being reformed to pay dividends, according to Tarin – Journal

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KARACHI: Finance Minister Shaukat Tarin has agreed to review the Pakistan Stock Exchange’s proposals and recommendations and expressed his willingness to speed up tax refunds, restore tax breaks for companies when listing, support the growth of SMEs by listing and financing the development of the capital market.

Speaking at a meeting with management and key players in the stock market on Friday, the minister said the government was working on reforming state-owned enterprises and that state-owned enterprises with sufficient liquidity would be encouraged to pay dividends. , which will help increase the value of PSX. He reiterated that the economy was recovering, with a 40% increase in revenue over the previous year.

Capital market participants included Arif Habib Group Chairman Arif Habib, AKD Group Leader Aqeel Karim Dhedhi, Group Chairman JS Jahangir Siddiqui, Managing Director of National Investment Trust Ltd Adnan Afridi, Chairman of MUFAP Dr Amjad Waheed and senior management of the Central Depository Company and the National Clearing Company. by Pakistan Ltd.

A statement released by the PSX said that regarding the government’s plans to grow the economy and improve the capital markets, Mr. Tarin said: “We will consolidate the industry through the agency. credit rating system (CRA) to create a scale. He informed participants that the government is focusing on exports of information technology and software and encouraging start-ups.

He said his ministry encourages banks and DFIs to collaborate with capital market entities. Mr Tarin expressed satisfaction with the progress of the stock market and said that he would continue to visit the stock exchange on a quarterly basis to assess the development and progress of the capital market and to follow up on successful implementation.

PSX Chairman Dr Shamshad Akhtar briefed the Minister of Finance on recent stock market progress and thanked him for easing the tax regime for investors and the brokerage industry in the last budget as it s was a welcome respite from the capital market.

The Director representing the Chinese Consortium on PSX, You Hang, said, “We are very honored to have you with us at PSX and we wish you the best in guiding the Pakistani economy on a path to sustainable growth, adding that the Chinese consortium strongly believes that Pakistan as a country and economy has great potential and we are committed to playing our part to help realize that potential ”.

Posted in Dawn, le 24 August 2021

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