PSX, COPHC sign MoU

GWADAR: Prime Minister Shahid Khaqan Abbasi along with other high rank Chinese and Pakistani government officials on Monday witnessed the signing ceremony of a memorandum of understanding (MoU) between Pakistan Stock Exchange (PSX) and China Overseas Ports Holding Company Pakistan (Pvt.) Limited (COPHC).

Under the MoU, PSX will extend maximum facilitation to the Investors and companies at Gwadar Free Trade Zone so that they can raise funds from the stock.

The COPHC will help PSX in conducting due diligence on the Investors and businesses at the zone applying to PSX for listing of equity and debt securities, said PSX statement.

By signing the MoU, both the companies had mutually agreed to cooperate for listing of equity and debt securities at PSX in response to strategic national priorities of the Government of China and Pakistan related to 'One Belt One Road' initiative in general, and China-Pakistan Economic Corridor (CPEC) initiative in particular.

The PSX is the national securities exchange of Pakistan, whereas the COPHS is an emerging and fast developing Chinese based multinational organization which provides expert marine services, container terminal management and maintenance of port facility services.

COPHS works in Pakistan with an aim to develop the one of the most strategically located port of Gwadar into an economic hub of Pakistan and will cater for all types of international commercial activities generated from one business to another irrespective of quantity, quantum and magnitude.

Gwadar has enormous potential from all angles and dimensions for all kind of business activities existing or emerging with ever developing technologies.