China acquires strategic 40 per cent stake in Pakistan stocks exchange

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Speaking on the occasion, Dar said the government had set up a ‘Pakistan Development Fund’ aimed at financing the infrastructure development projects in the country.

“We would soon be coming to the Pakistan Stock Exchange (PSX) to mobilise funds,” he said, adding the International Finance Corporation and others had indicated their interest in participating in the Fund.

Dar said the strategic deal with the Chinese consortium was a “dream come true” for him. Besides being the best market in Asia and fifth best among global bourses in 2016 on the basis of returns, the PSX had after the divestment graduated to ‘regional market’, he said. He expressed the hope that the decision by the Chinese consortium to venture into Pakistan’s capital market would bring benefits to both sides.

“Divestment will result in institutional shareholding, experienced ownership and good governance for PSX which will translate into organised and robust development of the exchange,” he said.

Chinese Ambassador to Pakistan Sun Weidong said the occasion marked a new step in all-round cooperation between the two countries. “It is a win-win situation for both sides,” the ambassador said and added that the partnership would assist in investment financing and generate credit for CPEC.

“It comes at a significant moment when we are pushing forward CPEC to deepen cooperation and sustainable development in China-Pakistan all-weather friendship.”