Islamabad Stock Exchange Limited and Small and Medium Enterprises Development Authority have signed a deal for development of small and medium size industry
Islamabad, August 16, 2013 (PPI-OT): The Islamabad Stock Exchange Limited (ISE) and the Small and Medium Enterprises Development Authority (SMEDA) have signed a Memorandum of Understanding (MOU) for the development of small and medium size industry.
The MOU was signed at Lahore by Mian Ayyaz Afzal, MD/CEO, ISE and Sardar Ahmad Nawaz Sukhera, CEO, SMEDA,. The objective of the MOU is to lay a strong foundation of the SME concept, define pathways for SMEs to raise funds through stock exchanges, create a linkage between SMEDA and ISE and investigate the idea of having a separate SME counter at the stock exchange.
Speaking on the occasion, Mian Ayyaz Afzal, MD, ISE said that the ISE has been entrusted with the responsibility to provide, maintain and regulate the securities market. He said that since its inception way back in 1992, ISE has played a pivotal role towards Pakistan’s capital market thereby providing an avenue where Government and the private sector can raise debt and equity capital.
In line with its vision for adding depth to the listed sector in Pakistan, the ISE is in pursuit of potential business ventures in the private sector so as to provide them access to the capital market of the country, he added. As by listing on the exchange, a SME may acquire a much wider public exposure of its brand and operations.
This could be considered as business expansion that comes with listing and being associated with the stock exchange. Furthermore, a listed company may find it easier to obtain funding from more traditional sources due to its superior profile. This type of funding could even be obtained at a cheaper cost because of the company’s higher profile as a listed company, MD stated.
Sardar Ahmad Nawaz Sukhera, CEO, SMEDA appreciated the efforts of the ISE for development of the small medium industry and expected that the MOU will facilitate cooperation with the two entities for achieving the goal of developing SMEs.
It may be noted that in order to create awareness amongst the SMEs about the alternate financial solutions available through the capital market and to encourage them to become part of the formal economy through listing, ISE is conducting an informational workshop on Aug 28, 2013 in its Auditorium at ISE Towers, Islamabad.
For more information, contact:
Incharge – Investor Relations
Islamabad Stock Exchange Limited
ISE Towers, 55-B, Jinnah Avenue,
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