Pakistan’s finance minister unveils centralized gateway portal to boost country’s debt market

A stock broker reacts while monitoring the market on the electronic board displaying share prices during trading session at the Pakistan Stock Exchange, in Karachi, Pakistan July 3, 2023. (REUTERS/File)
Short Url
Updated 22 September 2023
Follow

Pakistan’s finance minister unveils centralized gateway portal to boost country’s debt market

  • The platform will streamline investor onboarding process and enhance convenience of market intermediaries
  • The portal will be a major part of Pakistan’s financial infrastructure and will list government debt securities

ISLAMABAD: Pakistan’s interim finance minister Dr. Shamshad Akhtar inaugurated a centralized gateway portal (CGP) on Friday, saying it would help develop debt market in the country by listing government securities to promote retail participation, transparency, savings channelization, and overall market growth.

Debt or bond markets constitute financial arenas in which people buy and sell various types of debt securities representing loans made by investors to entities such as governments, corporations, or other organizations.

These securities are typically issued with the promise of periodic interest payments to bondholders and the repayment of the principal amount at maturity.

According to a statement released by the Securities and Exchange Commission of Pakistan (SECP), the CGP is a novel financial initiative to facilitate simultaneous onboarding of investors and customers across the securities market, the nonbank financial companies’ sector, and the insurance industry.

The platform features standardized, one-time know-your-customer requirements across diverse asset classes.

“Dr. Shamshad Akhtar, the Federal Minister for Finance & Revenue, said that the securities market can play a vital role in the development of debt market through the listing of government debt securities on PSX [Pakistan Stock Exchange],” said the SECP statement.

Addressing the inauguration ceremony, Akhtar said the issuance of securities through public auctions at PSX would facilitate greater transparency.

“One of the key issues undermining the growth of capital markets is the lack of liquidity which is directly attributable to the small number of investors,” she was quoted as saying.

The minister said the CGP would provide immense opportunities to investors and great convenience to market intermediaries by removing duplications and streamlining the customer onboarding process.

However, she noted the successful CGP launch should not be deemed the end of the project.

“Having developed this promising digital platform, we are now faced with the critical part of realizing the potential it offers,” she continued. “This requires focused marketing efforts and promotion on the part of the PSX and other stakeholders like brokers, insurance companies, and AMCs [asset management companies].”

The minister pointed out that attracting new investors in the capital market should be one of the primary objectives, adding it would require coordinated efforts from all capital market infrastructure institutions, market intermediaries and brokerage houses under the SECP guidance.


Imran Khan’s party shutdown draws mixed response; government calls it ‘ineffective’

Updated 08 February 2026
Follow

Imran Khan’s party shutdown draws mixed response; government calls it ‘ineffective’

  • Ex-PM Khan’s PTI party had called for a ‘shutter-down strike’ to protest Feb. 8, 2024 general election results
  • While businesses reportedly remained closed in Khyber Pakhtunkhwa, they continued as normal elsewhere

ISLAMABAD: A nationwide “shutter-down strike” called by former prime minister Imran Khan’s party drew a mixed response in Pakistan on Sunday, underscoring political polarization in the country two years after a controversial general election.

Khan’s Pakistan Tehreek-e-Insaf (PIT) opposition party had urged the masses to shut businesses across the country to protest alleged rigging on the second anniversary of the Feb. 8, 2024 general election.

Local media reported a majority of businesses remained closed in the Khyber Pakhtunkhwa (KP) province, governed by the PTI, while business continued as normal in other provinces as several trade associations distanced themselves from the strike call.

Arab News visited major markets in Islamabad’s G-6, G-9, I-8 and F-6 sectors, as well as commercial hubs in Rawalpindi, which largely remained operational on Sunday, a public holiday when shops, restaurants and malls typically remain open in Pakistan.

“Pakistan’s constitution says people will elect their representatives. But on 8th February 2024, people were barred from exercising their voting right freely,” Allama Raja Nasir Abbas Jafri, the PTI opposition leader in the Senate, said at a protest march near Islamabad’s iconic Faisal Mosque.

Millions of Pakistanis voted for national and provincial candidates during the Feb. 8, 2024 election, which was marred by a nationwide shutdown of cellphone networks and delayed results, leading to widespread allegations of election manipulation by the PTI and other opposition parties. The caretaker government at the time and the Election Commission of Pakistan (ECP) both rejected the allegations.

Khan’s PTI candidates contested the Feb. 8 elections as independents after the party was barred from the polls. They won the most seats but fell short of the majority needed to form a government, which was made by a smattering of rival political parties led by Prime Minister Shehbaz Sharif. The government insists the polling was conducted transparently and that Khan’s party was not denied a fair chance.

Authorities in the Pakistani capital deployed a heavy police contingent on the main road leading to the Faisal Mosque on Sunday. Despite police presence and the reported arrest of some PTI workers, Jafri led local PTI members and dozens of supporters who chanted slogans against the government at the march.

“We promise we will never forget 8th February,” Jafri said.

The PTI said its strike call was “successful” and shared videos on official social media accounts showing closed shops and markets in various parts of the country.

The government, however, dismissed the protest as “ineffective.”

“The public is fed up with protest politics and has strongly rejected PTI’s call,” Pakistan’s Information Minister Attaullah Tarar said on X.

“It’s Sunday, yet there is still hustle and bustle.”

Ajmal Baloch, All Pakistan Traders Association president, said they neither support such protest calls, nor prevent individuals from closing shops based on personal political affiliation.

“It’s a call from a political party and we do not close businesses on calls of any political party,” Baloch told Arab News.

“We only give calls of strike on issues related to traders.”

Khan was ousted from power in April 2022 after what is widely believed to be a falling out with the country’s powerful generals. The army denies it interferes in politics. Khan has been in prison since August 2023 and faces a slew of legal challenges that ruled him out of the Feb. 8 general elections and which he says are politically motivated to keep him and his party away from power.

In Jan. 2025, an accountability court convicted Khan and his wife in the £190 million Al-Qadir Trust land corruption case, sentencing him to 14 years and her to seven years after finding that the trust was used to acquire land and funds in exchange for alleged favors. The couple denies any wrongdoing.