‘PSX is top financing platform for govt, private sector’

The Pakistan Stock Exchange (PSX) has evolved into a dynamic financial market, emerging as a top platform for the government and private sector to secure financing for their projects. This was highlighted by PSX’s outgoing Managing Director and CEO, Farrukh H Khan, during a press conference on Tuesday to launch the ‘One-Share Marketable Lot for Regular Market.’ Khan noted that recent infrastructure developments and regulatory changes have strengthened PSX as a robust institution. “The government and private sector both see PSX as a viable option for securing capital,” he stated. PSX is among the few global exchanges offering Sukuks, Shariah-compliant government debt securities. The sale of these securities has expanded the government’s investor base and allowed it to raise necessary funds at a relatively low cost. During the fiscal year ending June 30, 2024, the government raised Rs650 billion through fortnightly Sukuk auctions at the PSX. In the latest auction, the government borrowed Rs119 billion, surpassing its Rs100 billion target.