21 °C Prince George's County, US
June 25, 2019

National, International Buyers Show Interest in Pakistan Stock Exchange

Various national and international prospective buyers have shown interest in buying sates in Pakistan Stock Exchange (PSX), and the government hopes upgradation of South Asian country to Emerging Market by an International agency will attract more foreign buyers.

Recently, the divestment committee of PSXs shareholders extended the deadline for submitting Expression of Interest (EOI) to August 15 in the backdrop of Britain’s decision to exist the European Union, and a recent decision by MSCI to grant Pakistan the Emerging Market status from Frontier Market status.

Pakistan’s upgradation is expected to attract more foreign buyers as its economy shows signs of improvement, growing 4.7 percent in the financial year that ended June 30.

PSX is selling 40 percent of its shares to Strategic Investor or Investors and local financial institutions as required under the Stock Exchanges act, 2012.

PSX was launched in January this year after  combining all the three stock exchanges, including the benchmark Karachi Stock Exchange (KSE-100) .

Pakistan’s three leading bourses – Karachi, Lahore and Islamic Stock exchanges – last year signed an agreement to merge the three stock exchanges into a single entity in the backdrop of the global trend of consolidation and integration of stock exchanges.

The integration is expected to help reduce market fragmentation and create a strong case for attracting strategic partnerships necessary for providing technological expertise and assistance.

Pakistan Stock Exchange will help bring all investment at a one platform and will provide an increase capital market outreach.

In July last year,  Bloomberg News included Pakistan among the world’s top 10 performers over the preceding 12 months with an advancement of about 16% in the benchmark KSE-100.

Pakistan’s economy has stabilized since the government of Prime Minister Nawaz Sharif took over in 2013.

 

Related articles

Pakistan’s Special Envoy Begins Visit to Washington

Washington – Syed Tariq Fatemi, Special Assistant to Pakistan’s Prime Minister on Foreign Affairs, met U. S officials and briefed them on the ongoing military operations against militants in the country’s troubled tribal areas along the border with Afghanistan. Mr. Fatemi began his official visit to the U.S. on Monday and met Deputy Secretary of […]

Pakistan Gets $501 Million From IMF Under 3-year Loan

The International Monetary Fund has approved the immediate release of $501 million to Pakistan under a 3-year Extended Fund Facility, lauding the government’s efforts for fiscal consolidation and widen the tax net. The Executive Board of the Fund met in Washington on June 27 and accorded approval to the 11the review of Pakistan’s economic performance. […]