ISLAMABAD: The Federal Minister for Finance & Income Dr Shamshad Akhtar mentioned that the securities market can play a significant position within the improvement of the debt market by way of the itemizing of Authorities debt securities on PSX.

Talking on the inauguration ceremony of the Centralized Gateway Portal, Dr Akhtar mentioned that the issuance of securities by way of public auctions at PSX will facilitate retail participation, present larger transparency, channelize financial savings and promote the debt market in Pakistan. The SECP, PSX and different stakeholders want to increase concerted efforts to allow environment friendly implementation of those reforms.

The Minister formally inaugurated the Centralized Gateway Portal, a novel monetary initiative concurrently onboard traders and prospects within the securities market, the NBFC sector, and the insurance coverage business. The CGP additionally gives standardized, one-time KYC necessities throughout totally different asset lessons. The SECP Chairman, Akif Saeed and Badiuddin Akber, Chief Govt Officer at CDC additionally spoke on the launching ceremony.

She highlighted that one of many key points undermining the expansion of capital markets is the dearth of liquidity which is straight attributable to the small variety of traders. She believes that the Centralized Gateway Portal can present the impetus for the much-needed progress of our investor base.

Dr Shamshad appreciated that the CGP supplies immense alternatives to traders and nice comfort to market intermediaries by eradicating duplications and streamlining the client onboarding course of.  She appreciated SECP for its efforts and constructive reforms for facilitating traders’ onboarding, with the potential of remodeling the panorama of Pakistan’s capital markets.

Nevertheless, Shamshad mentioned the profitable launch of the CGP shouldn’t be deemed the tip of this undertaking. Having developed this promising digital platform, we at the moment are confronted with the essential a part of realizing the potential it gives. This requires targeted advertising efforts and promotion on the a part of the PSX and different stakeholders like brokers, insurance coverage firms and AMCs, she added.

Attracting new traders within the capital market must be certainly one of our main aims going ahead, which requires coordinated efforts from all Capital Market Infrastructure Establishments (CMIIs), in addition to the market intermediaries, particularly the brokerage homes, below the steering of SECP.

Along with the demand-side features linked to market liquidity, she prompt concentrating on the provision facet concurrently. On this regard, it’s vital to channel efforts in direction of growing the variety of Preliminary Public Choices (IPOs) on Pakistan Inventory Alternate (PSX). A larger provide of securities available in the market shall improve liquidity, enabling the era of upper commerce volumes. She requested the SECP and PSX to work aggressively for creating consciousness, making the itemizing course of environment friendly and facilitating companies in using the inventory trade for capital formation. PSX ought to keep an IPO pipeline to make sure most outcomes and once more targets must be assigned in session with the CTIs.

Dr Shamshad requested the SECP and Capital market establishments to collectively evaluate the prices of investing within the capital market, significantly to make sure that sustaining an account just isn’t costly sufficient to disincentivize small traders.  She emphasised on retaining digitalization with worldwide tendencies. She mentioned you will need to entice entrants within the newly created sub-category of online-only brokers, with the purpose to drive larger competitors within the business.

ISLAMABAD: In a stunning flip of occasions, cell phone imports in Pakistan have witnessed a staggering 76 % surge in the course of the first two months of the present fiscal 12 months, based on the newest knowledge launched by the Pakistan Bureau of Statistics (PBS). This surge has been warmly welcomed by native cell phone producers, who consider it can usher in a brand new period of progress for the business, regardless of the persistent greenback constraints.

The PBS knowledge reveals that in August 2023, cell phone imports reached a considerable $111.34 million, marking a outstanding 77 % enhance in comparison with the identical month in 2022. Equally, July 2023 noticed cell phone imports amounting to $68.13 million, reflecting a considerable 76 % rise in comparison with July of the earlier 12 months.

The Pakistan Cellular Telephone Producers Affiliation (PMPMA) is optimistic about this surge in imports, asserting that it’ll alleviate the continuing cell phone shortages in Pakistan. Muzzafar Paracha, the senior vice chairman of the PMPMA, make clear the intricacies of the state of affairs.

Paracha identified {that a} essential issue contributing to the rise in imports is the classification of each cell phone units and cell phone components beneath the identical class of ‘cellphones’ by the federal government. He clarified that the surge in imports primarily consists of Utterly Knocked Down (CKD) cellphones. This surge is attributed to the federal government’s determination to ease restrictions on Letters of Credit score (LCs), regardless of the greenback scarcity. Consequently, by mid-September, domestically assembled units are anticipated to satisfy roughly 90 % of the market’s demand.

Paracha emphasised that almost all the 30 cellular meeting models within the nation, together with three international manufacturers, have resumed operations, churning out as much as 2 million cell phone units. This can be a vital shift from the situation in March 2023 when most manufacturing models have been shuttered attributable to a scarcity of {dollars}.

Based on members of the Affiliation, regardless of the rise in imports and the persistent greenback constraints, solely round $7 million value of high-end cellular units are at present being introduced into the nation, which accounts for lower than 10 % of the market demand.

In the meantime, Amir Allahwala, a senior workplace bearer of the Affiliation, highlighted that native mobile phone assemblers at the moment are producing as much as 3.5 million units per 30 days, together with each smartphones and have telephones. He identified that the native market’s wants hover round three million units per 30 days, primarily attributable to telephone replacements and damages throughout use.

Moreover, the business envisions the necessity for consistency on this upward trajectory, because it may result in the native manufacturing of allied components reminiscent of chargers, batteries, hands-free gadgets, and cables. This, in flip, may open doorways to export markets.

In gentle of those developments, cell phone producers are urging the federal government to allow the month-to-month import of components and parts value $170 million. This, they consider, will allow the business to function at 100% capability, additional boosting Pakistan’s cell phone manufacturing sector, regardless of the persistent greenback constraints.

ISLAMABAD: The worldwide trend capital, Paris, is gearing as much as host the extremely anticipated Texworld – Attire Sourcing occasion from February fifth to seventh, 2024, on the prestigious Porte de Versailles. This annual trend extravaganza isn’t only a runway for worldwide designers; it’s a golden alternative for international manufacturers and collections to bask within the highlight of Europe’s trend scene, with a particular deal with making inroads into Jap and Center Jap markets. It additionally supplies the exhibitors a chance to showcase their prowess within the textile subject, to supply for bigger manufacturers.

As per particulars, the Commerce Growth Authority of Pakistan (TDAP) is ready to make a powerful assertion at Texworld – Attire Sourcing, Paris 2024. With a devoted pavilion, TDAP is on a mission to showcase Pakistan’s vibrant textile and attire trade to the world.

In response to officers, this participation goes past being a mere show of Pakistan’s textile prowess; it’s a strategic transfer to delve into and comprehend the European market higher. The purpose is obvious: to strengthen commerce relationships, appeal to extra consumers to Pakistan, and elevate the nation’s textile and attire trade on the worldwide stage.

To encourage Pakistani companies to grab this golden alternative, TDAP is providing sponsored stalls for a variety of merchandise. From Cotton & Blends to Denim, Eco-friendly Materials, Material, Embroidery & Lace, Faux fur, Fibers, Practical & Sportswear, Jacquard, Knitted materials, Linen & Hemp, Shirting, Silk, Silky features, Trims & Equipment, Wool, Wool Facet, to Menswear, women put on, youngsters’s put on, trend equipment, shawls, and scarves – there’s a platform for each side of Pakistan’s textile and attire trade. 

Stands for materials and denim can be found for a remarkably inexpensive Rs. 1,697,000, whereas attire stands could be secured for Rs. 1,514,000, owing to TDAP’s beneficiant subsidy. With out this help, the price for materials and denim stands can be roughly Rs. 2,533,167, and for attire, Rs. 2,236,334.

The Texworld Evolution Paris occasion in February 2023 showcased the rising significance of trend connections. It witnessed a exceptional turnout, that includes 750 exhibitors from 20 nations and attracting almost 8,000 guests hailing from 115 totally different nations. This surge in participation underscored the resurgence in enterprise connections between European trend industries and main sourcing nations.

Pakistan made a notable impression on the February 2023 version of Texworld – Attire Sourcing. Within the material class, exhibitors like Artmill, Kamal Restricted, Liberty Mills Restricted, Qasimi Industries, Sapphire Ending Mills, Sarena Dyeing & Ending Mills, Shafi Texcel Restricted, Shahtaj Textile, and Shekhani Industries showcased their excellence. Within the denim class, Glamour Clothes, Mekotex Non-public Restricted, and Shafi Non-public Restricted demonstrated their experience. The attire phase shone brightly with contributions from Style Channel, Interloop Restricted, J.R Dyeing & Textile Mills, Karsaz Textile, Rainbow Hosiery, Sesil Non-public Restricted, and Starsmade Manufacturing facility.