Two Stock Market support funds worth Rs 30 billion for Pakistan Stock Exchange

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Two Stock Market support funds worth Rs 30 billion for Pakistan Stock Exchange

*KARACHI - **Two Stock Market support funds worth Rs 30 billion likely for Pakistan Stock Exchange.*

The Economic Coordination Committee (ECC) of the cabinet is all set to approve two stock market support funds worth around Rs25-30 billion to stabilise the Pakistan Stock Exchange (PSX) on Thursday.

“ECC will consider approving the market support fund(s) on Thursday (May 30),” 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 by next week or within 10 days,” quoted SECP Chairman Farrukh Sabzwari, according to Bloomberg.

“The ECC will consider approving the two funds to support the market,” said Arif Habib Limited Chief Executive Officer Shahid Ali Habib who was familiar with the development.

He said there were two funds under consideration including State Enterprise Fund (SEF) and Equity Market Opportunity Fund (EMOF).