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SECP to accelerate efforts for the promotion of investments in GB

ISLAMABAD –  Securities and Exchange Commission of Pakistan (SECP) Chairman Zafar Hijazi has instructed his team to prepare a comprehensive plan in the shortest possible time for the promotion of investment activities in Gilgit Baltistan.

He was talking to a delegation from Karakoram Cooperative Bank Ltd (KCBL), headed by Iqbal Hassan, who is also the Minister for Planning and Development in Gilgit Baltistan. The delegation visited the SECP head office on Friday. Other board members of the bank, Muhammad Shafa, Haji Muhammad Iqbal, Muhammad Sadiq and Muhammad Amin accompanied Hassan.

The SECP chairman highlighted the significance of Gilgit Baltistan and briefed that how its economic progress could play a vital role in China Pakistan Economic Corridor (CPEC) initiative. He reiterated his commitment to facilitate the local business community as well as other entities that aspire to operate in Gilgit Baltistan to encourage business activities in the region.

Appreciating the SECP chairman’s views, Hassan said that while Gwadar is the last destination of the CPEC route, Gilgit Baltistan is the first. He gave a brief overview of the KCBL, which is in the process of forming a microfinance bank with the style of Gilgit Baltistan microfinance bank. The delegation showed keen interest in mutual funds, investments opportunities in capital markets and leasing business.

He also thanked the SECP chairman for comprehensive presentations and sought his help and support in imparting further knowledge in the areas of mutual funds and leasing business. He also sought the SECP’s support in expanding capital market outreach to the Gilgit Baltistan.

The SECP chairman suggested to the minister to consider holding of an investor conference in Gilgit Baltistan. He assured the delegation of full support to Gilgit Baltistan.

Source: The Nation

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