January 29, 2006	Sunday	Zilhaj 28, 1426

KARACHI, Jan 28: Securities and Exchange Commission of Pakistan chairman Razi-ur-Rahman Khan has expressed satisfaction in the working relationship between the Karachi Stock Exchange (KSE) and the regulator.

He stated this during his visit to KSE on Saturday and hoped that in future it would be further strengthened in the interest of the capital market and all the stakeholders.

According to a KSE announcement the SECP chairman also held a detailed meeting with directors of the board, members of the demutualization committee and managing director of the bourse. They discussed the issues between the exchange and its regulators and to carry forward the process of demutualization.

All issues relating to valuation, trading rights, timeframe for issuance of shares and listing of the demutualized exchange and other related matters including appointment of the KSE chairman from amongst the nominated directors were discussed in a cordial atmosphere and agreed upon.

The KSE representatives appreciated the personal initiative and efforts of the Securities and Exchange Commission of Pakistan chairman to resolve the issues in a cordial environment and for his assurance to maintain such relations in the larger interest of the market and the stakeholders, the KSE release added.—APP