ISLAMABAD: The Pakistan Stock Exchange (PSE) would be launched on January 1, 2016 in a landmark event, which will likely to be attended by Prime Minister Nawaz Sharif and Federal Finance Minister Ishaq Dar.
Securities and Exchange Commission of Pakistan (SECP) Chairman Zafar Hijazi said this during a meeting with Board of Directors and members of the Karachi Stock Exchange Limited’s (KSE) Demutualisation Committee. The meeting was convened to discuss the operational matters pertaining to the integration of the stock exchanges.
The potential foreign strategic investors who have expressed their interest for partnership/collaboration with the Pakistani stock exchanges are also expected at the event. It was reiterated that the Pakistani capital market and its stakeholders have a number of expectations from the PSE, which will be a dynamic, well-governed and competitive stock exchange, better positioned to achieve the goals of business viability, divestment and technological innovation.
The SECP team explained the proposals regarding Base Minimum Capital, the transitional treatment of the market protection funds, and business continuity of the brokers of Lahore and Islamabad Stock Exchanges, post integration. The participants of the meeting agreed in-principle with the proposals and appreciated the SECP’s efforts in this regard.
