PSX traders observe partial strike

RECORDER REPORT

KARACHI: The stock traders at Pakistan Stock Exchange (PSX) Monday went on partial strike against the decision of the Securities and Exchange Commission of Pakistan (SECP) to fix the brokerage commission.

The stock traders were protesting against the SECP decision to fix the brokerage commission and demanded withdrawal of the decision.

The traders were of the view that all airlines have different fares packages, just because of the level of comfort and services, etc.

They said different car manufacturers, charge differently on the same engine capacity of a vehicle just because of the level of luxuries and after sales services, etc. All private hospitals do not charge identical amount on private rooms due to level of services.

Similarly, governments all over the world cannot and should not have any domain or access on fixation of ceilings. It always depends on demand and supply and client’s right to pay more or less according to the services offered.

The stock traders demanded SECP to withdraw its decision as according to the PSX traders the regulator has no powers to determine the fix commission on sales of shares.