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US consulate team visits KSE

RECORDER REPORT

KARACHI: John Earnest Bennett, US Consul-General accompanied by Ms. Lisa Mount, Economic and Commercial Officer, visited the Karachi Stock Exchange (KSE) on Thursday and saw the computerised trading.

The consul-general was also accompanied by Syed Hamiduddin, Economic Specialist of the American Consulate General. The members of the US Counsulate held meeting with Arif Habib, Chairman, KSE, Salim Chamdia, vice-chairman, Shahid Ghaffar, managing director and Mohammad Yacoob Memon, general manager of the KSE.

The chairman briefed the diplomats on the present stock market conditions and various infrastructure developments made at the exchange during last few years which included establishment of Central Depository Company, introduction of Karachi Automated Trading System (KATS) and restructuring of the KSE board.

Arif added that various steps were contemplated by the management of the Exchange to improve the working and corporate behaviour as well as restoring the confidence of the investors. In this connection he also spoke of the proposed takeover law forwarded by the exchange to the government for its approval and enactment.

The guests saw the working at the KATS and Central Depository Company.