Pakistan will witness the inauguration of its first official online and physical gold trading company. This initiative is expected to stabilize the market by curtailing speculation and price manipulation.
Zakaria Gold Commodities (Pvt) Limited, approved by the Securities and Exchange Commission of Pakistan and the Pakistan Mercantile Exchange, marks a significant development in the gold trade sector.
Dr. Bu Abdullah, Chairman of the UAE’s Bu Abdullah Group, will inaugurate the company. Senior officials from the Federal Board of Revenue and Customs and representatives from the Federal Investigation Agency will attend.
With SECP and PMEX backing, the company aims to end speculative practices and eradicate the bullion black market. Officials note that daily gold rates will be displayed outside their office, promoting transparency and market stability.
 Limited, Pakistan's first online and physical gold trading company approved by SECP and PMEX, was launched on January 30, 2024.){kind=link}