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Abc certified vol 2 issue no. 42
karachi, tue nov 04 - Mon nov 10, 2014
weekly
regd. no, Mc-1381
orDEring Action
Federal Board of Revenue ChairmanTariq Bajwa has ordered senior FBR officials to take stern action against tax evaders. | SEE pAgE 02 | iMproving SUrvEiLLAncE
it deprives them the incentive to raise long term capital. However, this is just one of SYED MUHAMMAD ASLAM the factors that discourage companies to www.customstoday.com list.” While elaborating his viewpoint, the ustoms Today interviewed Karachi KSE MD said, “I feel that this problem reStock Exchange (KSE) Managing Di- quires many prong solutions. We need to rector (MD) Nadeem Naqvi and bring new products such as derivatives, sought his views about a wide range of which is a norm in other parts of the topics and issues related to capital market. world. We also need to come up with new Naqvi was asked about the single most technology platform to enable both the important catalyst for the growth of capi- domestic and non-resident Pakistanis to tal market in Pakistan; the government’s access the capital market online as well as role in giving capital market a boost; the through smart phone and other online meKSE’s dialogue with index providers to put dia. We also need a simpliMied as well as Pakistan back to Emerging Market Index; uniMied account opening and documentaimproving the technology platform and tion process that is convenient for inoperational efMiciency of the KSE; KSE’s vestors as single-window system.” initiative to ensure IT security and, last To another question about enhancing but not least, the role of capital market in the circle of investor awareness proPakistan’s economic development. gramme, Mr Nadeem Naqvi said, “Last To a question about growth of the cap- year around 7,000 participants across the ital market, Naqvi said, “I think the sin- country attended the programme that KSE gle most important thing is expansion had sponsored. This Miscal year our target of the investor base which stands at is 10,000 plus. However, what is really just around 250,000 since 1948. needed is to have a wider coverage.” This is too small when compared Seeking Finance Minister Ishaq Dar’s to Bangladesh’s over one milsupport, the KSE MD said, “New instrulion and Iran’s and ments are also needed to be introduced, Turkey’s six million. especially in the Mixed income area. KSE This needs to change has launched government debt secbecause a narrow inondary market trading platform in vestor not only crepartnership with the Central Deposates market volatility itory Company. However, a lot and low liquidity but of support is required from also renders the price the banking industry, discovery mechanism the asset manageNew technology inefMicient. The narrow ment, the insurance platform needed to investor base also disand pension indusenable both domestic courages the companies try as well as the that want to list the potenand overseas Pakistanis tial universe of investors in See page 10 to access capital market shares because they feel that KARACHI
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Chief Collector Enforcement-South Nazim Saleem puts emphasis on measures to curb smuggling and improve surveillance mechanism of anti-smuggling organisation. SEE pAgE 03 | pErMitting AUDitorS
Appraisement-West Collector Muhammad Saleem decides to provide complete view of each good declaration to internal auditors and principal appraisers. | SEE pAgE 04 | DEMAnDing cArgo trAin
Collector Sarfaraz Warraich says bonded cargo train will flourish business activities in southern Punjab by opening new economic doors and opportunities. | SEE pAgE 09 |
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