KARACHI, Jan 23: An informal meeting of the members of the Karachi Stock Exchange (KSE) was held here on Monday to discuss the ‘demutalization’ issue.

A source privy to the meeting said that some 100 to 125 stock brokers were present and the tone was conciliatory. Members discussed various aspects of the demutalization process. “We are business people and want peaceful solution of issues in a cordial and cooperative atmosphere”, a senior member said.

He said that it was logical that everyone would want to protect their assets and arrive at proper valuations.

There were various suggestions and the meeting left it to the KSE’s internal ‘demutalization Committee’ to come up with the suggestion to be placed before the new chairman of the Securities & Exchange Commission of Pakistan (SECP), Razi-ur-Rehman Khan.

The KSE demutalization committee, the source said, comprised Yasin Lakhani; Amin Issa Tai; Firozuddin. A. Qasim; Ashraf Kothari; Aziz Patel; Aqeel Karim Dhedhi and five directors of the bourse.