Government policies including low interest rate conducive for stock exchange: Ghani Usman
My company Ghani Osman Securities Pvt. Limited is a member of Pakistan Stock Exchange (Guarantee) and National Commodity Exchange Limited that has team of highly experienced, trained and qualified management. A personal and pro-active style of advisory services with a view to educate and serve the ever evolving needs of our clients.
Ghani Usman, a prominent stock master, a professional banker, with an experience of over 50 years, presently running 7 corporate organisations with a team of highly experienced, qualified and professionals. The man behind PSX is considered an expert in Stock business. National Courier had a rare opportunity to know his views on national economy and of course his personal achievements during a career spanning over half a century. Q. Ghani Sahab let us know your success story from the beginning ? A. By Grace of Almighty Allah, I am 70 years old now and still working since last 58 years. Fifty years back I started my stock career from Karachi Stock Exchange .I was studying then and after completed my matriculation joined an audit firm. Two years later, I joined Habib Bank as a clerk and retired as Grade I Officer. From there on after having 25 practical experience of Stock Marketing, applied for the membership of Pakistan Stock Exchange in 1981/82 in the name of Ghani Usman Securities and in no time, in the annual meeting of Board of Director of Karachi Stock Exchange I was elected director and held the post 17 times , five times remained Vice Chairman and twice remained treasurer of Karachi Stock Exchange as well. I was also the chairman of vigilance committee. Q. How you managed to bring all the three stock exchanges on one plat-form ? A. A meeting of Board of Directors of KSE was held in 2015, where I was chosen as the chairman of Demutualization Committee, which ran for 2 years, keeping in view all the three Stock Exchanges to be on a Single Platform, I knocked all the concerned doors of the provincial and federal level and the hard work paid off in 2016, with the final consents of Federal Finance Minister Senator Ishaq Dar, who chaired a meeting of Board of Director of Stock Exchange, unanimously approved the proposal placed by the board to incorporate Karachi Stock Exchange Limited (KSE) as the Pakistan Stock Exchange along with the other two bourses of Pakistan, the Lahore Stock Exchange and the Islamabad Stock Exchange. It is Pakistan’s largest and one of the oldest Stock Exchange in South Asia by market capitalization, with many Pakistani consortium as well as overseas enterprises listings. With effect from January 11, 2016 the Karachi Stock Exchange, Lahore Stock Exchange and Islamabad Stock Exchange were integrated under the Stock Exchanges (Corporatization, Demutualization and Integration) Act, 2012 to form the Pakistan Stock Exchange Limited as the only stock exchange in Pakistan.
Q. Being the member of Pakistan Stock Exchange and on major posts, how do you faced your competitors in the market ? A. My company Ghani Osman Securities Pvt. Limited is a member of Pakistan Stock Exchange (Guarantee) and National Commodity Exchange Limited that has team of highly experienced, trained and qualified management. A personal and pro-active style of advisory services with a view to educate and serve the ever evolving needs of our clients. With a sizable pool of funds under management, entrusted to us from both institutional and private sector, we have become one of the leading Advisory Company in the country, which provides specialized financial services to both the institutional and private sector in the area of both equity and futures markets. The basic business of Ghani Osman Securities is not only to provide brokerage services but also to bring customized solutions to meet client’s need. We are committed to keeping client’s defined goals, solving problems and executing long-term strategies. Q. How many companies you own today ? A. In 1981, I established Ghani Osman Securities, when I took the membership of Pakistan Stock Exchange and from there onward, I established Ghani Osman Real Estate, CEO/Director of Al-Abbas Holdings (Private) Limited and Ghani Holdings (Private) Limited. I am also the Chairman for various Brokerage Houses namely; Ghani Osman Securities (Private) Limited, Hum Securities (Private) Limited and Topline Securities (Private) Limited. I am also the sponsor of Javedan Cement, which is the pioneer of New Nazimabad Project and in which I have working partners such as Arif Habib and Aqeel Karim Dhedhi.
Q. Please comment on new budget ? A. The budget announced by Federal Finance Minister, cannot be termed negative or positive, however, the stock today stands at its highest mark and may maintain this position as the present scenario persists because of the low interest rate kept by the government. The State Bank of Pakistan has continued the discount rate at 5.75 for at-least 2 months. The industrial sector was not on the right track which is a back lash and through your newspaper I want to place my request to the government to at-least enhance industrial development or establish low cost housing schemes with 20 years of financial loan support, to suffice the needs of a common man. As today, a home is the basic need of a man whose salary is around 50 to 60 thousand and if no consideration is made towards the low housing schemes, there will be anarchy in the country that will lead to many mishaps. Q. What positive impact do you see of CPEC on the PSX ? A. There is no doubt the China Pakistan Economic
Corridor is a project of prosperity for the country and will definitely have impact on each and every business throughout the country and will also enhance the stock chart. Yet we are not aware of actual deal or benefits of handing over trade corridor to China , how can Pakistan be paying the $ 46 b loan taken from China which we have to pay by any means but the Planning Minister remain elusive on this score. has not yet briefed about what is the country getting out of this corridor provided to China. Also, I believe that to keep the CPEC running, China will bring in his own experienced workers of officer grade but the layman class will be from Pakistan and job opportunities will be very less for the qualified class. To make the mega project a success, it was necessary to accommodate local talented educated youth specially from Balochistan, he concluded.
Haji Ghani Haji Usman has almost 30 years of experience in capital markets during which he remained with Habib Bank Limited for20 long years. He served in various departments of the banking industry during this period. Currently he is the CEO/Director of Al-Abbas Holdings (Private) Limited and Ghani Holdings (Private) Limited. He is also the Chairman of various Brokerage Houses namely; Ghani Osman Securities (Private) Limited, Hum Securities (Private) Limited and Topline Securities (Private) Limited. His previous experience includes holding offices of the Vice Chairman, Treasurer and Director of the Karachi Stock Exchange (Guarantee) Limited (KSE). Haji Ghani is also the Director of Central Depository Company of Pakistan Limited representing KSE , nominated by the present KSE Board. Moreover, he has been appointed as Chairman of Demutualization Committee and member of Human Resources Committee.
Interview by: S. Salman Khan Photos by: Sultan Soomro