PID

PR No.296 SECP Chairman Briefs Finance Minister On Stock Markets Integration Islamabad

The Chairman SECP Zafar Hijazi briefed the Federal Minister for Finance Senator Muhammad Ishaq Dar on the integration of the stock exchanges on Saturday.

He communicated the SECP’s resolve to facilitate completion of the integration process in a smooth manner which involves balancing the needs of all the stakeholders involved. He added that the integration process is expected to be completed in the coming month so as to ensure operationalization of the integrated Pakistan Stock Exchange on January 1, 2016.

The Federal Minister appreciated the supportive role played by the SECP in facilitating the process of integration and praised the progressive stance adopted by the three stock exchanges towards this landmark achievement. He viewed that integration would help attract much-needed foreign investment and global partnerships for the Pakistani capital market. He however underscored the need for an improved governance structure for the new stock exchange and emphasized upon the purpose of integration being the creation of a modern and well governed exchange that ensures improved protection of investors and is well positioned in the global arena.

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