|
|
Article: Stock exchange mechanism - present and future. (Pakistan's capital market)
- Article from:
- Economic Review
- Article date:
- May 1, 1992
- Author:
CopyrightCOPYRIGHT 1992 Economic and Industrial Publications. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
INTRODUCTION
The capital market in Pakistan is still in its infancy commensurating with the stage of economic development and transition from agricultural base to industrial based set-up.
Broadly capital market includes various institutions like Commercial Banks, Investment Banks, Leasing Companies, Modarabas and Stock Exchanges. But it specifically connotes money market operations and marketing of securities through stock exchanges.
The Stock Exchange is a formal association of agents who deal in shares and securities and execute the order of their customers on commission basis. An agent usually has an office with sufficient information ...