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Pakistan Federal Government to constitute reserve to balance out financial exchange

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Pakistan Federal Government to constitute reserve to balance out financial exchange

The Securities and Exchange Commission of Pakistan (SECP) chairman, along with his team, met with capital market stakeholders, including the senior management of Pakistan Stock Exchange, National Clearing Company of Pakistan Limited, Central Depository Company of Pakistan Limited, Mutual Funds Association of Pakistan and representatives of broker community and insurance companies.

The meeting discussed the trends and issues faced by the market in detail. The members featured the handy issues being looked in executing clear deals in the deliverable future markets. The members likewise referenced the requirement for a capital market support finance, which can help with conveying wanted liquidity to the market and reestablish speculator certainty.
Fortunately, the recommendation has been accepted by the Finance Advisor Hafeez Sheikh. However, the size of the fund has not been finalized yet. A suggested number of Rs.20 billion has been shared by the stockbrokers. The fund would buy shares of State Owned companies and would be managed by the National Investment Trust (NIT).

During the weak, PSX observed substantial negative trends. On Monday, KSE-100 index shed 937 points during intraday trading. After the successful meeting, the Finance Secretary assured full support and cooperation by the government to the delegates. During the meeting, various other related matters subject to market reforms were also discussed.

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