ENDANGERED LISTING/DELISTING: THE MAIN CONCERN.
Stock exchanges represents confidence of investors and industry. - Pakistan Stock Exchange has least number of investors and issuers using the exchange platform to trade off savings and returns. Pakistan's least position in the region was found out to be a further retreated-one, as the Securities and Exchange Commission of Pakistan (SECP) Chief informed the standing committee of national assembly that for about 50,000 accounts were closed by investors in a year or so and for about 8- 10 billions of investor's money was eroded in a matter of few years.
Pakistan Stock Exchange also has a smaller number of companies listed as compared to India and Bangladesh. India is at-least 10 times and Bangladesh is at-least 1/10th of a time ahead of us in terms of winning the Issuers and Industrialists confidence.
Meaningful and transparent settlement of investor claims and discontinuation of investment-hostile products is important for restoring investor confidence and enhancing investor-base. In case, if any government agency, authority and/or national accountability bureau is interested in the economic development of Pakistan, they could just openup any of the SECP's investigation-report, readout the names of confiscators and start punishing them. Should the government do it, the investor base shall rise by leaps and bounds and market will be rocking.
Transparency and element of decency in the listing and delisting process is central to winning the issuers confidence and expanding in issuers-base at Pakistan Stock Exchange. Just in case, if the policy board and Securities and Exchange Commission of Pakistan (SECP) are sincere in increasing the universe of listed companies, they should just dissolve the PSX-Delisting-Committee and Constitute a Central Listing Authority. What is being openly said about the de-listing of AKZO is that, there had beena lot of price buildup since the last quarter of CY-19 and as such neither an investigation (in respect of potential insiders/gainers) was carried out nor were material information in respect of observed delisting process and buy-backprice were shared. Noted professionals and capital market experts have suggested determining...
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