ISLAMABD: Securities Exchange Commission of Pakistan (SECP) Chairman Zafar Hijazi Saturday briefed Minister for Finance and Revenue Muhammad Ishaq Dar on the integration of stock exchanges.
He said the SECP would facilitate completion of the integration process in a smooth manner which involves balancing the needs of all the stakeholders involved. The process, he added, was expected to be completed in next month to ensure operationalisation of the integrated Pakistan Stock Exchange on January 1, 2016.
The minister appreciated the supportive role played by the SECP in facilitating the process of integration and praised the progressive stance adopted by the three stock exchanges towards this landmark achievement. He opined that the integration would help attract the much-needed foreign investment and global partnerships for the Pakistani capital market.
Ishaq Dar, however, underscored the need for an improved governance structure for the new stock exchange and emphasized upon the purpose of integration being the creation of a modern and well-governed exchange that ensures improved protection of investors and is well positioned in the global arena.
