Recently, Finance Minister Ishaq Dar has inaugurated the Pakistan Stock Exchange (PSX) so that capital markets progress and also the economic progress of our country can be carried out in a smoother way. This new integrated national bourse has been established so that all of the stock markets of Karachi and also Lahore and Islamabad can be merged into the PSX. It is for the information that the titles of indexes like that of KSE-30 and KSE100 will now be changed into the PSX-30 index and also PSX-100.
Positives of Pakistan Stock Exchange (PSX) as a national bourse Solution
- It has been notified that PSX will be functioning from the Karachi Stock Exchange.
- Lahore Stock Exchange has now been converted right into LSE Financial Services Limited. On the other hand, Islamabad Stock Exchange has been shifted into the ISE REIT Management Company.
- This current formation of a single national stock exchange named as Pakistan Stock Exchange (PSX) will be able to send a positive message abroad.
- It will also be able to attract more and massive number of foreign investors in our country.
- Our capital market will get stronger and enhanced with the establishment of this Pakistan Stock Exchange (PSX).
- This vital and significant reform will be trying its level best to revive our dwindling and weak state of the economy. Hopefully, our weak and shaken up economy might get stable after the establishment of this unit.
We can have this hope from our Government of Pakistan that in near future, they will be taking more strong and bold initiatives for the sake of our economic development. At the same time, it would be better for all of our political parties to avoid doing politics over these kinds of projects which are of national importance. We are in such need of time where all of the political parties should be working and sitting jointly to sort out the critical issues of our economy. It is also the duty of our business community to keep on proposing some suggestions to make these new listings more encouraging.
Now the stock exchanges should be able to effectively play their role as a frontline regulators. They should be having complete segregation with other units. A strong and also a well-governed board of directors can also bring our economy in line. Improvement in the Pakistan`s corporate governance and a unified national stock exchange is the need of the hour.
DAWN Newspaper 12/01/2016