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Shares at PSX climb over 600 points in intraday trade
Bulls dominated the trading floor of the Pakistan Stock Exchange (PSX) on Wednesday as shares gained over 600 points in intraday trade, with analysts attributing the gains to “good progress” made regarding the privatisation of Pakistan International Airlines (PIA).
On Tuesday, the federal cabinet approved the board of PIA Holding Company, with former State Bank governor Tariq Bajwa being appointed as its chairman.
The move was hailed as a significant development in the national carrier’s privatisation process as its liabilities and assets will be transferred to the holding company, which will be registered with the Securities and Exchange Commission of Pakistan. The board will include seven independent directors and four........
© Dawn Business
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