ISLAMABAD, December 17, 2015: The Securities and Exchange Commission of Pakistan (SECP) as part of its youth program organized a day-long seminar on financial literacy and personal financial planning in collaboration with the Karachi Stock Exchange at its headquarters in Islamabad.
The seminar was specially arranged for university students and was widely attended by over 300 students from Islamabad area universities including Qaid-i-Azam, NUST, Air, Foundation, University of Lahore, Capital University of Science and Technology, vice chancellors as well as deans and heads of departments.
Students were introduced to the concept of capital market, savings, and investments, various asset classes, management of risk, investors’ rights and financial planning by financial industry experts.
Dr. Mukhtar Ahmad, chairman HEC was the chief guest. In his address he appreciated SECP’s Jamapunji investor education campaign. He encouraged the students to learn about savings and also develop a culture of good ethics and fair play. He suggested to the university faculty attending, that students should be taught entrepreneurship, and incubation centers should be set up to encourage creation and development of new businesses. He appreciated SECP for organizing such a useful and informative seminar.
Chairman SECP, Zafar Hijazi, in his address said that that creating awareness about investments and investor’s rights is the regulator’s responsibility and the SECP has been making utmost efforts through its Jamapunji investor education campaign. He highlighted SECP’s role for the protection of investors through effective regulation and enforcement. Zafar Hijazi noted that the capital market has helped raise over Rs1000 billion, which is a huge contribution to the development of our economy. He further added that the capital market can provide protection against inflation, keeping in view that the average 10 year return (2005-2014) for the KSE 100 index of 24% against 10 % average annual rate for inflation over the same period. He urged universities who have signed MoUs with SECP to utilize stock trading simulators provided to them for training their students in building portfolios and analyzing stocks. Chairman Hijazi advised the students to follow prudent investment principles and consider investing in mutual funds. Mutual funds are ideal for low income investors as these can provide them liquidity, professional management, safe custody and diversification.
At a special ceremony during the seminar, Foundation University Islamabad and Capital University of Science and Technology Islamabad entered into MoUs with SECP for holding regular seminars to educate existing and incoming students about the basics of savings, financial planning, investing and capital markets. The MoUs were signed by Mr. Akif Saeed, SECP Commissioner, IE& IRD, and Major General (ret) Khadim Hussain, Foundation University and Mr. Malik Arshad Mahmood Registrar, Capital University of Science and Technology Islamabad respectively, on behalf of their institutions. The ceremony concluded with the distribution of certificates to students.