Karachi, September 6, 2019: The Managing Committee of PSX Stockbrokers Association PSA has strong reservations against the notification issued by Commissioner SMD relating to a Committee constitute to review
It is indeed a cause of concern that out of total 240 brokerage houses which comprises of large, medium and small companies, Commissioner SMD has only selected personals of large brokerage houses which are 18 in number. Hence, 222 stock members fate will be decided by handful of large companies.
We not only strongly object that even our Association i.e. PSA has not been considered to be added in that committee but we would also like to state that any decision by such committee would only protect the interest of few large brokers and hence their decisions would be biased and unacceptable to the trec holders in large.