960416

Bahrain, Karachi

may exchange

lists of public

companies

ANWAR RAJANI

KARACHI: Bahrain and Karachi bourses are likely to exchange the lists of the public limited companies following the visit to Bahrain of Prime Minister Benazir Bhutto on April 20.

The exchange of the lists of the companies quoted on the bourses of the two brotherly countries will be one of the measures in respect of the economic cooperation which is to take place between the two countries after the visit of the Prime Minister to Bahrain.

A Memorandum of Understanding is likely to signed at Bahrain according to which Pakistani scrips may be traded on Bahrain stock exchange and the shares of Bahrain may be listed on the KSE.

Market sources are of the view that the cooperation between the two bourses will go a long way in investment promotion between the two countries. Henceforth overseas Pakistanis living in the Gulf can easily invest in the stocks of the public limited companies of their own country.

Similarly, overseas investors living in Pakistan will be able to purchase the stocks of Gulf companies to be listed on KSE.

Following the visit of the Prime Minister, our national airline, PIA may also enhance its flights from Pakistan to some destinations in the Gulf.

It may be mentioned here that the volume of bilateral trade with Bahrain is estimated at 88 million dollars during 1994-95. It is expected to increase soon.

There is also likelihood that some joint ventures will be finalised between the private sector parties of Pakistan and Bahrain on the Prime Minister's visit.