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LAHORE, Nov 30 (APP): Federal Tax Ombudsman (FTO) Coordinator Saif-ur-Rehman has said that establishment of Capital Market Development Council (CMDC) at Finance Ministry, is a judicious and timely step in the right direction.
Addressing an awareness session with business community here Sunday, he said, this move would catalyze private sector participation and pave the way for greater economic stability and resilience.
The Coordinator added that new council would play a pivotal role in strengthening Pakistan’s financial architecture by fostering coordination among key stakeholders, enhancing regulatory clarity, and promoting sustainable investment avenues.
Saif-ur-Rehman noted that deep, efficient and diversified capital markets are essential for reducing reliance on external borrowing and expanding long-term domestic financing.
The initiative reflects the government’s commitment to structural reforms aimed at boosting investors’ confidence and modernizing financial governance.
The council, he emphasized, must help identify bottlenecks, streamline processes, and develop policies which support robust economic growth.