PMEX Has Major Role In Future Market Design, Market Economy: MD PMEX

ISLAMABAD, (UrduPoint / Pakistan Point News - 18th May, 2024) Managing Director of Pakistan Mercantile Exchange, Farhan Tahir on Saturday said that Pakistan Mercantile Exchange (PMEX) has a huge role in future market design and market economy on which future market depends.

Talking to APP, the MD, PMEX said that Market Eco-system and Storage is very important on which Pakistan Mercantile Exchange is working.

He said that there is a need to digitize the commodity market across the country, on which our institution is working on research and analytics.

Farhan said that digitization and automation are very important in the global capital market at this time and “we are working on creating the ecosystem of the commodity market and its role is important in the restoration and development of the country's economy.”

He said that keeping in view the importance of the future market, an exhibition has been organized here today, the purpose of which is to provide awareness among the people and harmonize the country's economy with the requirements of the future market.

The productivity p factor in the Pakistani economy is low and more work needs to be done on it which is being followed by PMSX, he said.

MD, PMEX said that storage is very important in the commodity market and our organization is ready to provide facilities to the farmers, which will have a positive impact on our agricultural economy.

He said that currently countries' economies are dependent on research and data, and the future economy is also dependent on this.

Farhan said that the government wants to collaborate with PMSX to modernize the market economy in Pakistan so that the country's economy can move forward.

He said that the role of stakeholders is very important to bring competitiveness in the economy and to bring it into harmony with the global market.

He said that PMSX is providing a good platform to integrate stakeholders in the agricultural economy.

Talking to the APP on this occasion, Habib Mamsa, Regional Manager business Development of Pakistan Mercantile Exchange said that Future Market is very important in the country's economy at this time, which will increase competitiveness in the economy.

He said that Economic Competitiveness and Productivity are important for competition in the global market.

On this occasion, Head of Project and Project Development Syed Hamid Reza said that commodity market is very important in the future market and the role of data is very important for it.

He said that it is very important to provide storage for all the major crops of Pakistan including wheat and corn and similarly it is important to stop wastage of grains and fruits.

Meanwhile, Senior Manager Product PMEX Irfan Kisana said that the future market is very important in the country's economy and its integration is important for the Country’s economy.