Stock exchanges integrate to form PSE
KARACHI: Pakistan’s three stock exchanges are being integrated into a single national stock exchange.
Islamabad and Lahore Stock Exchanges’ operations would be integrated into Karachi Stock Exchange, which will be renamed as Pakistan Stock Exchange Limited (PSE).
To celebrate this momentous occasion, Pakistan Securities & Exchange Commission (PSEC) and Karachi Stock Exchange (KSE) (to be renamed as Pakistan Stock Exchange) have arranged a grand launch ceremony on Monday, January 11, 2016, in Islamabad, where high-ranking government officials, honourable foreign dignitaries along with international fund managers and high net worth individuals would be invited to attend the ceremony.
This integration would complete the second phase of the stock exchanges demutualisation and Integration Act 2012, which was passed by the joint session of Parliament. With the completion of this process, Pakistan’s Capital Market (PCM) would enter into a new era of growth and development, as it would encourage wider participation of all classes of the investors including retail, across the country. Besides expanding the investor base and providing countrywide access to the stock market, this measure would also help to enhance the operational and informational efficiency of the market as well as transparency, depth and liquidity.