Staff Report
KARACHI: Karachi Stock Exchange (KSE) is marching towards sustainable growth due to positive developments on the country’s political scenario particularly for setting up of interim government and subsequent holding of general election in the country.
This was stated by Arif Habib, Chairman and Chief Executive of Arif Habib Group, while talking to selected journalists at Karachi Press Club.
The sentiments in investors are positive and strong but all these are linked to the timely transition of the caretaker government and its assurance of organizing general polls on time, he said.
Habib is optimistic about the recording-making journey of the equity market as he believed that market will see growth in capitalization and trading volume in months to come.
The slight uncertainty among investors is timely transition of power which will direct equity market towards the significant growth in investment and indices positions, he said. Even the stock market performs bullish in the period when the interim government assumes the power for certain days and it will do much better after the election of the new government.
The economic agenda of all political parties are more or less same including sustainability of macroeconomic indicators and resolution of energy crisis, he opined. Hence the stock will perform positively whatever political party comes in the power for next five years, adding it is good for the country, economy and stock market that assembly completes its tenure.
Arif Habib said the economy has been strengthened in real sectors in the period of present government compared with its previous government mainly in tackling challenging issues such as high oil prices and inflation.
The business tycoon said the cut in discount rate played its exceptional role in growth of equity market however it is likely to unchanged in the next two months despite of suggestion to increase it by 50 basis points.
The stock market remains its positive growth in long-run without any external influence because the corporate profitability is tremendous in various scrips with constant honoring in the values of shares, he said.
The investment in various sectors is seemingly difficult due to high cost setting up business hence the existing companies will remain attractive in the eyes of investors for next few years, a stock market legend said.
Arif Habib said the freedom of press is very important in the democracy and socio-economic development of the nation hence the corporate sector should extend its support to media and journalist fraternity.
He announced Rs 1.5 million health and education funds for journalists’ community as part of its group of companies and assured that he would be playing a supportive role for the media and journalists community in the future as well.
Recent Comments