Pakistan Stock Exchange to be launched on Jan 11

KARACHI: After integration of all the three bourses of the country, Pakistan Stock Exchange will be launched on January 11, 2016, a statement said on Tuesday.

The three stock exchanges in Pakistan are being integrated into a single national stock exchange. The operations of Islamabad and Lahore stock exchanges are being integrated into Karachi Stock Exchange, which will be renamed as Pakistan Stock Exchange Limited (PSX).

To celebrate this momentous occasion, the Securities and Exchange Commission of Pakistan (SECP) and the Karachi Stock Exchange (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, foreign dignitaries along with the international fund managers and high net worth individuals have been invited to attend.

This integration will complete the second phase of the Stock Exchanges Demutualization and Integration Act 2012, passed by the joint session of the Parliament.

With completion of this process, Pakistan's capital market will enter into a new era of growth and development, as it will encourage wider participation of all the classes of investors, including retail, across the country.

Besides expanding the investor base and providing countrywide access to the stock market, this measure will also help enhance the operational and informational efficiency of the market as well as transparency, depth and liquidity.