Economy, Business And Markets

Plan to Sustain Capital Market

Plan to Sustain Capital  MarketPlan to Sustain Capital  Market

In a bid to help the equity market get back on track it has been agreed that a financial stability committee be set up within the Securities and Exchange Organization, SENA quoted Mohammad Fetanatfard, the new SEO chairman, as saying.

The committee will be in charge of coordinating the policies of SEO and its affiliates, Fetanatfard said, while giving a report about the equity market in a meeting with First Vice President Es’haq Jahangiri, cabinet members and other top officials. Fetanatfard revealed his comprehensive plan aimed at helping the stock market step out of recession, emphasizing on practical triggers.

Speaking to the media after the meeting, the SEO chief reiterated the key role of the equity market in fulfilling the objectives of the ‘resistance economy’, adding that all of those who attended the meeting approved of the necessity of having such a committee for coordinating affairs between relevant bodies, “especially when the equity market is in a crisis like its present condition.”

“The meeting has brought hope to the market due to the positive approach of top government officials toward the equity market and its role in the economy,” Fetanatfard said, adding that the government is determined to put an end to the bearish sentiment of the stock market.

In order to discuss practical ideas, the SEO will host another meeting next week with participation of deputy ministers as well as deputy vice president, according to Fetanatfard. The SEO’s new chairman took oath on Monday night, pledging to resolve the persistent challenges surrounding the stock market, said Minister for Economic Affairs and Finance Ali Tayebnia, adding that “the Tehran Stock Exchange’s outlook is not gloomy,” and that “with the administration’s support and the proper management of the new SEO chief, the equity market will get a boost in the near future.”