March 18, 2019 (MLN): Asad Umar has said that Pakistan needs to bring capital market reforms to mobilize investments in equity and debt, as currently the market is over-regulated which is impeding its growth.
Speaking at the Bloomberg Economic Forum 2019 on Monday, the Finance Minister said that the first phase of the Economic Policy was meant to implement demand compression in the economy which can now be seen in the numbers.
He said that Pakistan needs to develop public-private partnership. Till now, only the power generation sector has seen the successful implementation of this.
He also emphasized on the need to develop opportunities for deployment of Islamic banking deposits which will help Islamic banking realize its full potential.
Pakistan's banking system is not mobilizing deposits effectively with Pakistan's banking deposits to GDP ratio one of the lowest in the world, he added.
He further remarked that Pakistan needs to focus more on domestic supply expansion.
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