Year 2020 has been a significant and eventful year for PSX.

Byline: Khalil Ahmed

Successful launch of ETF is very important product available for PSX investors

Advent of Roshan Digital Account is a hugely positive step for the growth of economy

Pakistani capital market has performed very well and has presented attractive valuations for investors

New offerings and services also planned for the near future at PSX

Interview with Mr. Farrukh H. Khan - CEO, Pakistan Stock Exchange Limited

PAGE: Tell me something about yourself and Pakistan Stock Exchange, please:

Farrukh H. Khan: About myself, I can start with my educational background. I did my BA (Hons.) in Economics and Finance from the University of Manchester and qualified as a Chartered Accountant from the Institute of Chartered Accountants in England and Wales, UK. My education helped me prepare for the various positions I have been responsible for. These responsibilities include senior positions in banking, starting companies as well non-executive directorships in major public and private companies.

I was head of treasury and investment banking at American Express Bank in 1991 when I started BMA Capital with some other partners. I was the founding CEO. This was at a time when the Pakistan Stock Exchange was opened to foreign investors for the first time. At BMA, I helped lead manage the US$813 million GDR offering and London listing of OGDCL, Pakistan's largest listed company, and successfully advised Etisalat on their $2.6 billion acquisition of Pak Telecom, which was the largest mergers and acquisition transaction and the largest foreign direct investment in Pakistan's history.

In brokerage, we developed a blue chip domestic and international client base, as well as a larger retail branch network. The responsibilities I have held so far allowed me to equip myself with the necessary experience required for the position I am right now as Chief Executive Officer (CEO) and Managing Director (MD) of Pakistan Stock Exchange. I think it's a challenging job wherein one has to keep the balance between the external factors affecting the Exchange while ensuring that all processes are working smoothly. As a frontline regulator, balance also has to be kept between all stakeholders, which include investors, issuers, shareholders and market participants.

About Pakistan Stock Exchange (PSX), it is the only national stock exchange of the country. It came into existence in January 2016 after the merger of Karachi Stock Exchange (established in 1947), Lahore Stock Exchange (established in 1970) and Islamabad Stock Exchange (established in 1992). Hence, PSX has a distinguished and long history, and is amongst the oldest exchanges in Asia. Presently, 40% shareholding in PSX is held by a consortium of leading Chinese exchanges (Shanghai Stock Exchange, Shenzhen Stock Exchange, and China Financial Futures Exchange), and 60% by general public, which includes initial shareholders, local and foreign investors.

Pakistan Stock Exchange is a remarkable example of a capital market. It has...