KARACHI: The Board of Directors (BoD) of Pakistan Stock Exchange announced that PSX will set up a fund to financially assist families of the martyred security personnel and those who were injured defending the National Stock Exchange on Monday 29th June.
The board condemned this dastardly and cowardly attack in the strongest possible terms. This was an attack which targeted not only innocent people but also the economic stability and the investment environment of Pakistan.
The board deeply appreciated the bravery of the security personnel, who risked their lives, and indeed some of them paid with their lives, to defend the 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.
“PSX, as the premier capital market of the country, is fully cognizant of its responsibilities and recognizes the suffering caused to the families of those who have been martyred and injured. We stand with them at this time and will also help them in a practical and sustainable manner. To this end, PSX will set up a fund and endowed it with an upfront donation of Rs10 million,” the statement said.
The management is in discussion with brokers, other capital market organisations and institutions who have reached out and expressed a desire to support this effort. In addition, PSX staff and directors in their individual capacity have also committed their support. Hence, we expect the size of the fund to increase substantially.
The statement further stated that the objective of setting up the fund is to ensure that the families receive consistent financial support. While PSX fully understands that monetary reward is no compensation for loss of life or serious injury, yet PSX is committed to help 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, PSX will contribute to medical expenses and continue paying salary of our two injured guards till they are fit to resume their duties.