ISLAMABAD:Federal Minister for Finance Ishaq Dar on Monday inaugurated the Pakistan Stock Exchange (PSX), formed after the integration of all three bourses of the country – Karachi, Lahore, and Islamabad – into a single national stock exchange.
The operations of Islamabad and Lahore stock exchanges have been integrated into the Karachi Stock Exchange, which has now been renamed as Pakistan Stock Exchange Limited (PSX).
Monday marked the first day of trading for the PSX, which was formally inaugurated at a ceremony in Islamabad today.
“The integration of three exchanges has completed the second phase of the Stock Exchanges Demutualisation and Integration Act 2012, passed by a joint session of parliament. The integration of three exchanges will pave the way for more foreign investors' interest,” said the Finance Minister while addressing the ceremony.
The ceremony was attended by high-ranking government officials, foreign dignitaries along with the international fund managers and high net worth individuals.
The completion of the integration process paves the way for Pakistan's capital markets to enter a new era of growth and development, as it will encourage wider participation of all classes of investors, including retail, across the country.
Besides expanding the investor base and providing countrywide access to the stock market, the integration is also expected to help enhance the operational and informational efficiency of the market as well as transparency, depth and liquidity.