The Government of Pakistan has launched the Capital Market Development Council (CMDC) to enhance and expand the country’s financial markets. The inaugural meeting was held on Friday under Finance Minister Muhammad Aurangzeb, with participation from senior officials of SECP, SBP, and key market stakeholders.
During the meeting, the Finance Minister emphasised that the Government is committed to building vibrant and inclusive capital markets. He said well-functioning markets are essential for financing economic growth, increasing investor participation, and supporting ongoing structural reforms.
The council reviewed a comprehensive roadmap for capital market development. Discussions focused on four core areas: increasing participation of retail and institutional investors, developing diversified investment products, improving support for intermediaries like banks and brokers, and creating incentives for investors and issuers.
Cross-border market integration, regulatory modernisation, adoption of global best practices, and the use of advanced market technologies were also highlighted. Aurangzeb stressed the need to fully utilise both debt and equity markets to efficiently channel capital between savers and businesses.
Officials noted that removing bottlenecks limiting private-sector participation is a priority. The council also reviewed taxation, regulatory frameworks, and incentive structures to encourage more companies to list and improve market competitiveness. The Finance Minister highlighted rewarding transparent and compliant companies rather than penalising them.
A three-tiered digitisation initiative will be integrated into the capital market development roadmap. Dedicated working groups will prepare key performance indicators and action plans within the next two weeks. The council will report progress quarterly and meet at least once every quarter to track outcomes.
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The Government’s initiative demonstrates its commitment to creating strong, investor-friendly markets that can attract domestic and international capital, support economic growth, and improve Pakistan’s financial resilience.
