SECP resolves Rs. 50 bln Support Fund for stock markets

Updated at: 0230 PST, Thursday, October 23, 2008
ISLAMABAD: Security and Exchange Commission of Pakistan (SECP) has held a meeting here concluding the resolve to provide Rs. 50 billion Support Fund for stock exchanges to cope with ongoing financial crisis on Wednesday.

Director KESC Sohail Walia told Geo News that during the meeting, it was resolved to release Rs. 50 billion Support Fund to emancipate state’s stock markets from crisis.

Market Support Fund would be available after October 27 and added that Rs. 20 billion Support Fund would be available straightaway while remaining Rs. 30 billion would be provided to stock markets through “Pit Option”.