A joint meeting of the demutualisation committees of the three stock exchanges has agreed in principal to form a national stock exchange, Pakistan Stock Exchange (PSE), on which a memorandum of understanding will be signed on August 27.
The joint meeting of the demutualisation committees of the Karachi Stock Exchange (KSE), Lahore Stock Exchange (LSE) and Islamabad Stock Exchange (ISE) was held at the Securities and Exchange Commission of Pakistan (SECP).
The meeting discussed the way forward for Pakistan’s capital market, being mindful of the global trend towards consolidation and integration of stock exchanges. There was a general agreement for achieving the government’s vision of a fair, efficient and transparent market with one national stock exchange conforming to international standards.
Integration of the stock exchanges is expected to help reduce fragmentation of market and create a strong case for attracting strategic partnerships necessary for providing technological expertise and assistance. It was agreed that for sustainable development of our capital market and in the national interest, the three stock exchanges will enter into an MOU that will subsequently be approved by their respective boards of directors and general body.
