PSX announces fund to assist families of attack victims

Updated 03 Jul 2020

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PSX board of directors condemn dastardly attack, laud security personnel for risking their lives. — AFP/File
PSX board of directors condemn dastardly attack, laud security personnel for risking their lives. — AFP/File

KARACHI: The board of directors of the Pakistan Stock Exchange on Wedne­sday announced setting up a fund to financially assist fam­i­lies of the martyred security personnel and those who were injured defending the stock exchange on Monday.

The board condemned the dastardly and cowardly attack in the strongest possible terms.

It was noted that this was an attack which targeted not only innocent people but also the economic stability and investment environment of Pakistan.

The board appreciated the bravery of the security personnel, who risked their lives to defend the stock exchange and Pakistan.

The board also commen­ded the PSX management for the calm and effective manner in which the sec­urity protocols were implemented.

They noted that despite such an extreme event, the market did not stop working for even a minute and all disaster recovery and business continuity measures worked seamlessly.

The PSX, as the premier capital market of the country, was fully cognisant of its responsibilities and recognised the sufferings caused to the families of those who had been martyred and injured, they said. “We stand by them at this time and will also help them in a practical and sustainable manner. To this end, the PSX will set up a fund and endowed it with an upfront donation of Rs10 million,” the board added.

The management, it said, was in discussion with brokers, other capital market organisations and institutions that had reached out and expressed a desire to support this effort.

In addition, the PSX staff and directors in their individual capacity had also committed their support.

PSX board chairman Sule­man Mehdi expressed the hope that the size of the fund would increase substantially.

“This was an attack on Pakistan and we would ask all organisations and individuals concerned to step forward and join us,” he said, adding that “we are thankful to the Sindh government and the governor for the support and recognition they have extended to these brave security personnel”.

The objective of setting up the fund is to ensure that the families receive consistent financial support.

The PSX board said that the monetary reward was no compensation for loss of life or serious injury; however, the PSX was committed to helping ease the suffering and contribute to alleviate the financial worries for the families of those who lost their lives in the line of duty.

In addition, the PSX would contribute to medical expen­ses and continue paying salary of the two injured guards till they were fit to resume their duties.

The PSX than­ked the senior civil and military officials, foreign diplomats and representatives of international and civil organisations who visited the stock exch­ange to condemn the attack and sent condolence messages.

Published in Dawn, July 3rd, 2020