Launch of Pakistan Stock Exchange (PSX)
January 11, 2016 marks a historic day for the Pakistan Capital Market. On this day, Pakistan Stock Exchange was launched in Islamabad. The inaugural ceremony was presided by the Federal Minister of Finance, Revenue, Economic Affairs, Statistics and Privatization– Mr. Mohammad Ishaq Dar, who played a key role in making this launch and merger of the three exchanges possible. The Pakistan Stock Exchange has replaced the stock exchanges of Karachi, Lahore and Islamabad as all three have now been formally inducted into the unified PSX.
The integration offers many strategic advantages. It will help reduce market fragmentation and create a strong case for attracting strategic partnerships necessary for providing technological expertise and assistance. Domestic investors will now have a single national platform with deep liquidity pool and availability of over 400 securities brokers. Furthermore, the integrated Exchange will allow the Capital Market Regulator (SECP) to monitor overall compliance by market participants while focusing on transparency, governance and efficiency of the securities market.
Unification of Pakistan Stock Exchange Limited is a fundamental step in preparing Pakistan’s Capital Market for its due role in future economic development of the nation.