Interview with Syed Shariq Waqar — an analyst
[box type=”shadow” align=”” class=”” width=””]Profile:
Syed Shariq Waqar is a qualified Management Professional with more than 22 years of diversified experience. He has worked in manufacturing, retailing, freight forwarding and aviation industry.[/box]
PAGE: Your suggestions for investment:
Syed Shariq Waqar: I suggest that the Pakistanis should not invest in Forex market. Investment in forex market only creates a panic in the market which causes nothing but only devaluation of the Pak Rupee. The best way to invest is in agricultural development projects. People should opt for partnership system with like-minded people and start value addition business such as food business, retailing, arts and crafts, agro-based industry and tourism. It will generate business in the economy, increase the GDP and create jobs. The government should support private sector, and should create public fund raising tools through which private sector can enhance its business and become more productive thereby creating employment.
PAGE: What is your take on the investment in the mutual funds?
Syed Shariq Waqar: Mutual funds are minimization of risk for the stock market investors. Their maximum rate of return is only best service which they can provide. They should design their products in the manner which will be less risky for the investors.
PAGE: How would you comment on the current state of the Pakistan Stock Exchange?
Syed Shariq Waqar: Pakistan Stock Exchange is the game for only few people to generate money. The more the money, the higher the profits and the lesser the money, the lesser the profit or even loss. Stock market is not the means for the value addition in the GDP. Through stock exchange, wealth moves from one hand to another hand. The profit of one individual is the loss of another individual. To me, whether market is high or low, it does not leave any impact on the GDP of a country.
PAGE: Your views on long and short term investment opportunities in Pakistan:
Syed Shariq Waqar: Pakistan is a country full of natural resources, however, not much has been done to exploit the indigenous resources. We have a long way to go. There are a deluge of opportunities for investment in the aviation sector, IT sector, travel and tourism, quality education, transportation, media, film industry, food industry, agriculture industry. Power generation is an area where there are immense investment opportunities for the decades to come in Pakistan by virtue of expanding economy of our country. We need to attract FDI to fix our current issues.
PAGE: Does the taxation system drive individuals away from investing in mutual funds?
Syed Shariq Waqar: I don’t think so. Mutual funds managers need to focus on how to secure individual interests. Why would an investor go for very nominal profit, if he has other sources too. Mutual funds managers should improve their analytical skills and give better services to the clients in shape of better profit.