*KARACHI – **Two Stock Market support funds worth Rs 30 billion likely forPakistan Stock Exchange.*
The Economic Coordination Committee (ECC) of the cabinet is all set toapprove two stock market support funds worth around Rs25-30 billion tostabilise the Pakistan Stock Exchange (PSX) on Thursday.
“ECC will consider approving the market support fund(s) on Thursday (May30),” an official of the Securities and Exchange Commission of Pakistan(SECP) confirmed to The Express Tribune.
“The fund is under serious consideration and will be launched hopefully bynext week or within 10 days,” quoted SECP Chairman Farrukh Sabzwari,according to Bloomberg.
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“The ECC will consider approving the two funds to support the market,” saidArif Habib Limited Chief Executive Officer Shahid Ali Habib who wasfamiliar with the development.
He said there were two funds under consideration including State EnterpriseFund (SEF) and Equity Market Opportunity Fund (EMOF).
