Finance Minister Muhammad Aurangzeb on Wednesday emphasised that Pakistan must gradually move toward a “more balanced financial system”, in which capital markets would complement the banking sector in meeting the economy’s financing needs.
The finance czar expressed these views while chairing a meeting of the Capital Market Development Council (CMDC), according to a press release issued by the finance ministry.
The meeting was convened to review the “progress on reforms aimed at strengthening Pakistan’s capital markets, with particular focus on the development of the corporate debt market and expanding the role of capital markets in financing economic growth”, the press release said.
It added that in his opening remarks at the meeting, the finance minister underscored that a “strong and well-functioning capital market was vital for sustainable economic development” as it enabled corporations to access long-term financing while offering diversified investment opportunities to both institutional and retail investors.
“He emphas
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