ISLAMABAD, 29th March, 2024 (WAM)-- The Financial Times Stock Exchange (FTSE) Russell, a leading global index provider, has maintained Pakistan's classification as a secondary emerging market. This is a significant development that underscores the continued growth and stability of Pakistan's stock market, Associated Press of Pakistan reported.
The decision was based on data as of December 28th, 2023, where Pakistan successfully met the minimum investable market capitalization threshold required for secondary emerging market status, according to a statement from FTSE.
This demonstrates the increasing attractiveness of Pakistan's market to foreign investors.
While this is positive news, it is important to note that the assessment is conducted twice annually, with the next one scheduled for 28th June, 2024. However, this retention provides valuable time for Pakistan to further strengthen its market position.
FTSE Russell maintains a watchlist for markets undergoing review, and Pakistan remains on this list. This transparency allows investors to stay informed about potential market movements.
Overall, this decision by FTSE Russell is a positive sign for Pakistan's economic development. It signifies a maturing stock market attracting foreign investment and contributing to overall financial growth.