The Securities Exchange Commission of Pakistan will establish a bondp-ricing agency within six months to value corporate notes and sukuk as the South (more)
The Securities Exchange Commission of Pakistan will establish a bondp-ricing agency within six months to value corporate notes and sukuk
as the South Asian nation seeks to attract global investors to its capital markets.
The plan is to improve transparency and increase trading volume, Imtiaz Haider, commissioner of the securities market division, said Oct. 12. Prices of bonds issued by companies are currently quoted by the Mutual Funds Association of Pakistan, which has an "inherent conflict of interest," he said.
Pakistan is looking to boost foreign investment after the International Monetary Fund suspended financial assistance in May 2010 because the country failed to meet conditions on a $11.3 billion loan, which expired in September 2011. The rupee trading near a record low is making it more expensive for corporate entities to buy dollars, while the second quarter current-account deficit was the largest since 2008.
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