Zafar Moti, Former Director of Pakistan Stock Exchange, Former Director of the National Clearing Company, Former Director CDC and Founder Member and Director of Mercantile Exchanges, CEO Zafar Moti Capital Securities – PVT Ltd has said that Bank of Pakistan will benefit from a 2% reduction in interest rates even if the economy does not benefit the homegrown capital market; remittances from foreign countries remain in the coming months even if the value of the dollar against the rupee is Rs 150 but today the situation is that the value of the country which we used to say was not to be taxed because of doubled the value of Pakistan’s currency. In one of his interviews, Zafar Moti said that Bank of Pakistan The interest rate has been reduced by 2% to 9% in recent days as the State bank realized that the economy was in danger of falling. No, I understand that people sitting on the SBP were also pushing to lower interest rates, but if we were to compete with our neighboring country Bangladesh and India, it would seem that the interest rate there is between 5%-6%.
Responding to a question, Zafar Motiwala said that even if the economy does not have the benefit of a reduction in interest rates, the capital market will definitely benefit from it and it will support the capital market. After the reduction, businessmen can pay their employees at home for another three to four months.
In response to a question, he said that the world economy was affected by the outbreak of COVID-19 and that Saudi Arabia is currently sending 40,000 Pakistanis back while UAE has terminate 10,000 Pakistanis. This is a difficult time if a large number of Pakistanis If there was no difference in the volume of foreign exchange expended, there is no doubt that the value of the dollar could fall to Rs 150 in the future.
Profile
Mr. Moti, the Chief Executive of the Company, has over 20 years of capital market experience. He has been actively engaged in his family stock brokerage business since 1981. Mr. Moti acquired the membership of Karachi Stock Exchange (KSE) and Lahore Stock Exchange (LSE) in 1989. His active involvement in the capital market development is evident from his various appointments in the equity market. He was director of “Karachi Stock Exchange (Guarantee) Limited” (Now Pakistan Stock Exchange) for the year 2009. He is director of “National Clearing Company Pakistan Limited” and “National Commodity Exchange of Pakistan” and chairman demutualization committee. He was former director of KSE (now PSX) board for the year 1992, 1994, 2002 2006 and 2009. He was the member of LSE board during 1993. Mr. Moti was also director of Central Depository Cell during 1993 and chairman of New Product Committee at KSE in 1995. He is also a founder member of National Commodity Exchange of Pakistan.
Mr. Moti makes regular appearance on business programs of various TV channels for expert opinion and advice on stock market activities. He is also invited as guest speaker at academic forums. In regard to his services for domestic stock market, Muhammad Ali Jinnah University has inferred a mark of excellence on Mr. Moti. He is an MBA from Institute of Business Administration (IBA), Karachi. He has also remained a treasurer for ‘BASES’, a student body of IBA
