Rawalpindi Chamber of Commerce and Industry (RCCI) President Mian Humayun Parvez has expressed acclamation over the joining of Pakistan Stock Exchange (PSX) to the emerging market index of the Morgan Stanley Capital International (MSCI).
“This is indeed a highly positive development and it will improve the confidence of local and foreign investors,” he said, and added, “Pakistan’s economy is taking a sharp leap and such news is much needed for more foreign inflows to the country.”
RCCI president said that inclusion of Pakistan in emerging markets index reflected the fact that our country is achieving a better growth in terms of liquidity and market size.
Parvez described the status as the biggest winner of the 2016 MSCI market classification review, adding that by acquiring the ‘emerging market’ title, its firms and index, in general, may get the capital inflows it wouldn’t otherwise get as a frontier market.
He said that in developing countries MSCI emerging markets is the most widely-used index by investors and expressed hope that grant of emerging market status to Pakistan will lead to further strengthening of our capital market.
This will generate more job opportunities and income for the common man and will ultimately lead to the sustainable economic development of the country, he added.