KARACHI: The Pakistan Stock Exchange (PSX) on Wednesday announced the inauguration of its regional office in the province of Khyber Pakhtunkhwa (KP) by holding a gong ceremony at PSX Trading Hall here in Karachi.
This is a significant development for the capital market of Pakistan whereby PSX will now be in a position to specially focus on this region in terms of meeting the business needs of the business-community, industry and investors with regard to the capital market.
Earlier, the north-western province was covered by PSX through its northern regional office in Islamabad.
Present at the gong ceremony were KP Minister for Finance & Health, Taimur Khan Jhagra, who was the chief guest, Special Assistant to KP Chief Minister on Industry & Finance,Abdul Karim Khan, KP Board of Investment & Trade CEO Hassan Daud Butt, PSX Chairperson Dr Shamshad Akhtar, PSX CEO Farrukh H. Khan, PSX management team and market participants.
Khyber Pakhtunkhwa is integral and central to Pakistan in terms of its industrial zones, business hubs, and centers of trade of the northern part of Pakistan. It constitutes of numerous types of industries, businesses and trades which contribute significantly to the national exchequer.
With increasing industrial and trading activity taking place in KP, a significant need was felt by PSX to reach out to fulfil the requirements of the business community of KP to channelise their liquid resources for investment and for raising capital to expand their industrial and business base. PSX intends to fulfil this need in the near future through its representation in KP.
By opening an office in KP, PSX asserts its presence in the region by utilising its resources to spread investor awareness & education and to educate businesses about the benefits of listing on the Exchange. PSX will thus increase its outreach in the northern areas of the country. It will also be facilitating or expediting the growth plans of businesses & companies (with potential for listing) through capital raising via equity or debt issuance. PSX will be in a position to facilitate the raising of capital for numerous infrastructure projects by the government and for corporates and businesses who have need for capital to expand.
