The establishment of Capital Market Advisory Council (CMAC) was long overdue as capital markets can improve risk-sharing and the efficiency with which capital is allocated to the real economy, thereby boosting economic growth and development, said Finance Minister Shaukat Tarin.

Chairing the first meeting of CMAC on Monday, he said that the underlying rationale of the body was to attract investors, especially the ones with lesser resources, to contribute to the capital markets so that their limited resources could be channelised into productive uses.

The committee was formed by the government to introduce reforms in the country’s capital markets.

“Reforms will be introduced after taking input from all the relevant stakeholders,” he stressed.

Published in The Express Tribune, July 20th, 2021.

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