LAHORE: Securities and Exchange Commission of Pakistan (SECP) Chairman Muhammad Ali has said that the Karachi Stock Exchange (KSE) and the Mumbai stock exchange are going to sign an agreement for cross border listing of the capital markets scrips within a month.
Talking to The News at the sideline of the concluding day of 'Dividends', a two-day Indo-Pak Economic Conference, Ali said that huge investment potential existed across the border.
"A huge possibility of trade and investment exists in both countries," he said. He said the capital markets of the two countries wanted to coordinate and corporate with each other. He said stakeholders of both sides' capital market and their regulators had met each other at various forums and discussed cross border investment potential.
"We are considering the listing of KSE-100 at the Sensex Index and vice versa," he added. Massive opportunities exist in capital market investment and the mutual funds and investors of both Pakistan and India are interested to float investments in cross border bourses, he said, adding that exchange trading funds were also under discussion.
He said the potential of capital market investment was big but to tap this potential both the countries had to start with trade first, and then later look into the rules and regulations of investments.
"If the indices started trading on both stock exchanges than it would create awareness across the border about the existing investment opportunities and investors would be well aware about the available areas of investment which is vital for both side investors," Ali added.
To a question about the appointment of a regulator to dissolve Pakistan Electric Power Company, he said the SECP had performed all its responsibilities amicably.
"PEPCO is working under the Ministry of Water and Power and now the issue is with it", he added.
Earlier, KSE Chairman Munir Kamal- in his remarks during a panel discussion in the session "Mutual Stakes: Looking beyond trade towards investment"- mentioned that the KSE and Mumbai were to sign a MoU in which cross border listing of the KSE and SENSX would be allowed. This would to the pave way for cross border investments too, he said, adding that the agreement is likely to be signed in one month.
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The News on Sunday Special Report: India Pakistan prisoners more editions
We probably didn't need to do this Special Report. Newspaper stories don't matter when it comes to Indians in Pakistani jails and vice versa. In fact, 'vice versa' sums it up. We do to them what they do to us.
Except when the two countries decide to begin talking, yet again! This time a little before the foreign secretary level talks, some Pakistani prisoners were released by India (and vice versa must have happened) and some more were release....read more
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