KARACHI, June 16: Pakistan Industrial Credit and Investment Corporation (PICIC) on Thursday announced that it had launched Rs2 billion margin financing facility for members of the Karachi Stock Exchange for their clients.

In a press release issued on Thursday, PICIC’s managing director Muhammad Ali Khoja said that the corporation had approved a limit of Rs1.3 billion for ten KSE members. Khoja said that more members would get margin financing facility next week to make a total amount of Rs2 billion for the stock market.

Khoja stated that PICIC was already providing financing facility of Rs2 billion for carryover transaction (COT) for the last two years and that would be phased out by August 2005.