Despite the passage of two years, the Securities and Exchange Commission of Pakistan (SECP) has not been able to pursue case of demutualisation of stock exchanges.
The only progress made so far is that three stock exchanges of the country are currently under discussions to find strategic investors for the bourses.
So far, only the Karachi Stock Exchange (KSE) has signed non-disclosure agreements with international investors. Meanwhile, the Lahore Stock Exchange (LSE) and Islamabad Stock Exchange (ISE) have not even entered the advanced stage of discussions with strategic investors.
The SECP seems unable to have fulfilled its role of keeping a check on the delays or to address the grievances of stocks exchanges in this regard.
