April 17, 2017
President Pakistan Businessmen and Intellectuals Forum (PBIF), President AKIA, Senior Vice Chairman of the Businessmen Panel of FPCCI and former provincial minister Mian Zahid Hussain on Monday lauded the move of the SECP to improve compliance of rules and regulations and transparency in the stock market.
The long-awaited move will help the government to make stock market and overall financial sector more transparent resulting in confidence of investors, he said.
Mian Zahid Hussain said that action should also be initiated against unregistered currency dealers, those involved in business of hundi and all the ghost bank accounts should be closed which will reduce corruption and flight of capital.
He said that all those who have ghost bank accounts should face action along with their facilitators.
All the elements manipulating market and plundering the hard-earned money of masses should be penalized while those who fled the country with billions of rupees owned by the masses should be brought to the book to restore confidence of masses, he demanded.
Government should immediately adopt policy of zero tolerance against those involved in money laundering and discourage dishonest businessmen, he demanded.
He said that a sound market is more important than a growing one, and the only way to get that is if the regulator is empowered to penalise businessmen when they break the law.