Pakistan Stock Exchange says Shanghai bourse interested in buying Stake
Pakistan Stock Exchange (PSX) has received interest from international companies including the Shanghai Stock Exchange to buy a stake, the head of the index said on Monday. The index has been searching for a strategic investor and in July invited companies to show interest in buying a stake of up to 40 per cent. The PSX index is a merger of the Karachi, Lahore and Islamabad stock exchanges and was inaugurated earlier this year. The integration was expected to help reduce market fragmentation and create a strong case for attracting strategic partnerships necessary for providing technological expertise and assistance.
CPEC is an impetus for the SME
Increasing economic cooperation with China under the China Pakistan Economic Corridor could help boost growth of small and medium enterprises through joint ventures between businessmen of the two countries, and modernize existing SMEs through a transfer of technology. Small and Medium Enterprise Development Authority (Smeda) officials believe that the development of the proposed industrial zones along the trade route will offer massive opportunities for investment. Both domestic and Chinese businessmen involved in joint small to medium sized ancillary businesses are expected to emerge after the completion of the corridor project. A Chinese business delegation recently toured Lahore and met with Smeda officials for exploring the potential for joint ventures in SME-dominant sectors in Pakistan. The delegation comprised of entrepreneurs dealing in international logistics, building materials, high-end clothing production, supply-chain process, furniture, steel structure and the export-import business. The corridor offers enormous opportunities for industry-led economic growth in Pakistan if we are able to take advantage of the emerging opportunities,” a senior Smeda official said.“The cooperation between the two nations will also ensure a transfer of technology that shall help the country’s small to medium entrepreneurs modernise their existing technology to what is required for value addition.”
Co-host: Ahmad Latif, Sajid & Tanvir