Demutualization Law to Make Bourses More Efficient: Lahore Stock Exchange Managing Director

Lahore: The Managing Director Lahore Stock Exchange, Aftab Ahmed Chaudhary was addressing to the editors and senior journalists of the newspapers. He said that the Demutualization of the Stock Exchanges will protect the investors, and it will increase the investment, consequently it will also strengthen the economy of the Country. The listing of S M E’s on the Stock Exchange will also strengthen the market.

Mr. Arif Nizami, Mr. Atta-ur-Rehman and Ms. Saida Fazal along with other senior journalists were present here. Mr. Aftab said that the bill of Demutualization which is going to be passed would decrease the role of brokers while role and trust of the investors will increase. After this demutualization Number of directors would be ten (10) in which four (04) member directors and six (06) non-member directors, while one will be the Chief Executive. He further added that it is the credit of LSE that the Exchange has cancelled nine memberships in last fifteen months.

LSE also established an Investors Protection Fund. He also told about the decisions of LSE management concerning call the Sub-Account holders for identify their holdings. He advised Investors to open CDC investor accounts with Central Depository Company of Pakistan (CDC) in order to keep their shares safe. LSE’s management wants to make an investor’s trust which would satisfy the investors regarding their claims. Mr. Aftab also briefed about the LSE’s initiatives of corporate briefing and the financial literacy programs.

For the Capacity building of LSE staff Members so many workshops have also been organized which would not only promote the capacity building of LSE staff it will also increase efficiency of the Staff. This will also be a step towards strengthening the economy. While answering the questions of the editors and senior journalists Mr. Aftab Ahmad Ch. said that LSE is the only entity to work for the betterment of investor’s protection.

He also highlighted the importance of Bonds market. He told that the National Savings has recently launched Prize bonds of twenty five thousand (25,000) rupees which turned out an investment of twenty billion in the span of only twenty two (22) days, Government also considering launching the prize bonds denomination of Rupees Ten Thousand through Stock Exchange which will stabilize the investment climate in the country. MD LSE also briefed about the history of Lahore Stock Exchange he told that the number of members in the LSE are 152 out of which 81 are active Members.

For more information, contact:
Lahore Stock Exchange (LSE)
19, Khayaban-e-Aiwan-e-Iqbal, P.O. Box: 1315,
Lahore-54000, Pakistan
Tel: +9242 636 8000
FAX: +9242 636 484 -85
E-mail Address: info@LahoreStock.com
Web Site: http://www.lse.com.pk

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