ISLAMABAD: The government is planning to establish capital market business hubs in the cities having small industries and attracting foreign remittances.
The Securities and Exchange Commission of Pakistan (SECP) had recommended the government to set up business hubs in the cities such as Mirpur, Abbottabad, Sialkot, Dhadial etc to expand the outreach of capital market.
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SECP Chairman Zafar Hijazi had already formed a committee to chalk out a plan for enhancing the outreach of mutual funds, stockbrokers, leasing companies, investment banks, modarabas and insurance sector to the smaller cities to encourage investors to easily access capital markets and non-bank financial services.
Central Depository Company (CDC) CEO Hanif Jakhura had been appointed the convener of the committee, which worked out various initiatives, out of which one was the establishment of capital market business hubs (CMBHs). The first such hub will be established in Abbottabad. The city is well known throughout Pakistan for its beauty and located in the Hazara region of the Khyber Pakhtunkhwa on Mansehra Road.
