December 30, 2003	Tuesday	Ziqa’ad 6, 1424

LAHORE, Dec 29: The much-awaited National Commodity Exchange Limited (NCEL) will get operational in June next.

This was stated by the chairman, Securities and Exchange Commission of Pakistan (SECP), Dr. Tariq Hassan here on Monday. NCEL, country’s first bourse to trade contracts in selected commodities will begin its operations with trading in gold, followed by cotton yarn.

Pakistan produces around 10 million bales of cotton per year at ginning stage.

Tariq Hassan said that the decision to start future trading in cotton yarn was taken on the suggestion of Karachi Cotton Association.

When asked whether there were plans to start trading in cotton oilseed cake, the SECP chief said, it could be included in the commodities list on the exchange if recommended by the association concerned.—APP