950813

LSE chief sees

bright future

for his bourse

RECORDER REPORT

LAHORE: President, Lahore Stock Exchange (LSE) Dr. Yasir Mehmood has said he sees a good future for share business in Lahore market which is thriving in terms of volume despite the fact that it is based on individual investors. Addressing a reception given by Javed Saeed a new member of Lahore Stock Exchange, Dr. Yasir Mehmood said within a couple of years a deserted stock exchange has turned into a vibrant bourse of the nation and with a bright future ahead. He said that the rising business had forced the management to equip the exchange with latest computer network, to help the manage workload in a professional manner.

Dr. Yasir Mehmood said that despite the fact that the Lahore Stock Exchange business largely depended on individual investors, its volume had touched new heights which would further grow with the handling capacity of the exchange.

He said, "we have faced the birth pangs, and now are having growing pains", after which Lahore Stock Exchange would become one of the modern bourses of Asia, and would be able to face hard challenges.

Earlier, Javed Saeed, the new member of Lahore bourse spoke of the potential and depth of the Lahore market, and its investors. He emphasized the need to build investors' confidence.

The ideal way towards this goal would be that all the brokerage houses render prime service in all fields of equity investment projects, "he said and added: our target should not be commissions. Honest and fair projections, towards stock market's uplift, and client service should be the prime objectives."

Javed Saeed said his brokerage firm would provide equity investment, portfolio management, underwritings and foreign placements.

A large number of bankers, bureaucrats, investors and financial experts, attended the reception.