PSX signs share purchase agreement with Shanghai Consortium
- By Web Desk -
- Jan 20, 2017
KARACHI: Pakistan Stock Exchange and Shanghai Consortium of China on Friday signed a 40 percent share purchase agreement in Karachi.
Addressing the signing ceremony, Finance Minister Ishaq Dar said it is a historic occasion as the Chinese Consortium will bring their expertise to Pakistan Stock Exchange.
He said Pakistan Stock Exchange has acquired the status of one of the fastest growing stock exchanges in the region, and international organisations have acknowledged the economic progress in Pakistan.
The federal minister said Pakistan Stock Exchange has already crossed 50,000 points for the first time in the country’s history, which is a historic achievement.
READ MORE: Chinese consortium top bidder for stake in Pakistan Stock Exchange
He said the current foreign exchange reserves of the country are equivalent to five-month imports bill. Dar invited the opposition parties to join hands with the government for strengthening national economy.
Speaking on the occasion, Chinese Ambassador Sun Weidong congratulated Pakistani investors on the agreement and hoped this usher in a new era of stock exchange business in Pakistan.
Governor of State Bank, stock market officials, brokers and Chinese investors attended the ceremony.