SECP strongly condemns terrorist attack at PSX

SECP committed to provide a reliable, orderly, liquid and efficient market place

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) strongly condemns the terrorist attack at Pakistan Stock Exchange (PSX) and expresses its grief and sorrow on the loss of precious lives.

The SECP and the PSX management being aware of the strategic importance of the PSX building had engaged proactively for adequate and robust security measures for the building.

Recently, in the month of May 2020, there had been a comprehensive communication between SECP and PSX management for further strengthening the security at PSX. As a result, PSX had ensured extraordinary security arrangements which included deployment of Sindh police personnel, Pakistan Rangers armored personnel carriers, Elite Force Snipper etc.

In addition, full dress rehearsals were conducted by Pakistan Rangers in collaboration with Sindh Rangers Anti-Terrorist Team. PSX also raised the height of boundary wall with installation of concertina razor security wires, constructed firing posts, installed modern technology x-ray scanning machines, electronic walk through gates, additional CCTV cameras etc.

The recent terrorist attack revealed that owing to enhanced security measures, successful operation conducted by the Sindh Rangers, Sindh Police and PSX’s security guards, the terrorist could not penetrate inside the building to take its control.

Also, despite the horrific incident going on, the stock market remained operational and trading continued uninterruptedly that demonstrates confidence of investors and adequate of foil-proof system integrity of the PSX. The SECP Chairman, the Chairman-PSX Board of Directors and the MD PSX remained in close contact throughout the attack and afterwards. SECP and PSX also agreed to ensure continuity of trading that was essential to retain the confidence of investors.

PAX plays pivotal role in national economy, as it not only provides investment opportunities but also much needed capital for businesses. SECP remains committed to provide a reliable, orderly, liquid and efficient market place to local and foreign investors.