Business

PSX opens regional office in K-P


KARACHI:

The Pakistan Stock Exchange (PSX) inaugurated its regional office in Khyber-Pakhtunkhwa (K-P) on Wednesday to facilitate the business community of the province.

Earlier, PSX had been covering the province through its regional office in Islamabad.

Speaking at the gong-ringing ceremony, PSX Managing Director Farrukh Khan said, “With increasing business opportunities in the province, we are confident that PSX’s presence in K-P will support the expansion of business and investment activities in the region.”

“K-P remains untapped from both savings and investment perspective, hence there is a lot of potential to develop the capital market ecosystem in the province,” he added.

He said that the regional office in K-P would benefit businesses by raising capital and through company listings at PSX, while savers and investors would be able to access a wide range of investment products.

“Trading and business activity has been a forte of this province, which is a key part of the Silk Route,” he said and acknowledged that the K-P government had made efforts to improve the business environment in the province.

He told the ceremony participants that many PSX brokers had already set up offices in the province and “we look forward to working with them and others to help increase their footprint in K-P”.

On the occasion, K-P Finance Minister Taimur Saleem Khan Jhagra informed the participants about the initial public offering of a K-P steel company.

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“We have made this effort to create awareness, facilitate participation in capital markets and financial inclusion of K-P investors,” he said.

“Small and medium enterprises will now be able to get access to capital through listing on the PSX GEM Board,” he added.

K-P consists of industries, businesses and trades which contribute significantly to the national exchequer. With increasing industrial and trading activities in the province, the regional office of PSX will enable the business community to channelise their liquid resources for investment and raise capital to expand their base.

Apart from that, PSX will be able to raise capital for infrastructure projects of the government.

Published in The Express Tribune, October 7th, 2021.

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