NCE formally allowed to start crude oil trading
The National Commodity Exchange was informed that the govt approval it was waiting on was not necessary. —File photo
ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has formally permitted National Commodity Exchange (NCE) for trade of crude oil.
The Managing Director of NCE Sumair Ahmed told Geo news that the NCE had been waiting government approval of the gazette notification for the last one month.
On Wednesday, however SECP informed NCE Wednesday that commencement of crude oil trading did not require such notification.
Ahmad said he hoped to kick off crude oil trading within two weeks, adding that oil companies, among others, will be the beneficiaries of crude oil trading. —APP
Tags: National Commodities Exchange,NCE
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