Pakistan Stock Exchange starts functioning

ISLAMABAD, January 11: Pakistan Stock Exchange (PSX) has formally started functioning in Karachi after the merger of the stock exchanges of Karachi, Lahore and Islamabad.
Finance Minister Ishaq Dar inaugurated the Pakistan Stock Exchange at a ceremony in Islamabad on Monday. The index of the Pakistan Stock Exchange is ‘PSX’. Addressing the launching ceremony, Finance Minister Ishaq Dar said a number of countries have shown interest for investment in Pakistan in different fields.
Ishaq Dar termed the day as a historic one saying that it took 15 years to make dreams true. He said the formation of single national stock exchange would send a positive message abroad and would attract more foreign investors in the country’s capital market.
He said the government was determined to facilitate the law making process in the capital market and most of the work has been done successfully while work on few Bills including Securities and Exchange Commission of Pakistan (SEP) Bill, 2015, Competition Restructuring Bill 2015 was in process and they would also be passed soon.
He hoped that the management of newly formed PSX would focus on good transaction, governance and transparency and it would help to further improve the country’s capital market performance.
He said the Pakistan Muslim League-Nawaz (PML-N), during its first two and half years of government, had taken numerous reform initiatives in the country’s dwindling economy which had now become stable one.