Islamabad, 10 September 2024 (TDI): Deputy Director in the Office of International Affairs at the US Commodity Future Trading Commission (CFTC) Kevin Piccoli called on Federal Minister for Finance and Revenue Muhammad Aurangzeb on Tuesday.
The two dignitaries discussed the establishment of a commodities market in Pakistan, a statement from the Finance Division said. Chairman Securities and Exchange Commission of Pakistan (SECP) Akif Saeed and senior officials from the Finance Division and officials from the US Embassy in Pakistan were also present.
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“The meeting discussed the role of the agricultural commodities market and the collaboration between the SECP and CFTC for an ongoing series of capacity-building training sessions on the development of commodities futures market, regulation and oversight leading to a well-functioning commodities market in Pakistan,” the statement said.
Speaking on the occasion, the finance minister called it a welcome move, saying agriculture plays an important role in Pakistan’s economy, particularly its contribution to the GDP of the country.
“Agriculture and information technology are the backbone of our economy and the real levers of economic growth of the country,” the minister said.
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Aurangzeb highlighted that Pakistan’s economy grew by 2.38 percent during the current fiscal year – and agriculture played a huge role in the growth.
“Agriculture emerged as a main driver of growth, registering an impressive growth of 6.25% due to double-digit growth in output of major crops,” he added.
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