Pakistan Stock Exchange expresses gratitude for Chinese partner’s assistance amid COVID-19

KARACHI: Friendship between Pakistan and China is a shining example of strong and endearing cooperation between these two great nations of Asia, said Managing Director and CEO of Pakistan Stock Exchange (PSX), M Farrukh H Khan here on Tuesday.

From CPEC to military, economic and financial aid, China has proved to be an all-weather friend for Pakistan which has stood the test of time and international politics.

“Today, also, China is at the forefront, extending assistance to Pakistan in the wake of the current crisis of the COVID-19 pandemic, providing much needed relief and help to Pakistan” said PSX CEO.

Khan said China sent special aircrafts to Pakistan in March and April 2020 carrying relief assistance from the Chinese Government and various Chinese organizations.

These gestures of kindness at the most appropriate time have been greatly appreciated by the Government and people of Pakistan.

Closer to home, at PSX, Chinese exchange partners of Pakistan Stock Exchange worked closely with PSX management and shared their expertise and guidance in taking timely preventive and precautionary measures to deal with the COVID-19 threat.

The Chinese counterparts assisted PSX in devising protocols and SOPs which have been instrumental in ensuring measures were in place to keep the market functioning seamlessly. These guidelines helped the operational activities and trading platforms of PSX to continue to function normally in these trying times while ensuring safety and protection of staff and employees of PSX.

The Stock Exchange has been among the first few organizations in Pakistan to implement WFH policies whilst ensuring smooth functioning of the trading platform and activities of the Exchange.

Not only guidance but in view of the existing global shortage of gear for COVID-19, the members of the Chinese consortium namely, the Shanghai Stock Exchange (SSE) and China Financial Futures Exchange (CFFEX) sent across large shipments of surgical masks for PSX staff use.

Fu Hao, Deputy Director-General, Global Business Development Committee at SSE and member of the board of PSX said, “The Shanghai Stock Exchange has always attached great importance to the development of PSX. As a director of the board of PSX, I also care for the well-being of all PSX staff.

Despite the difficulties, we managed to secure surgical masks and would like to provide them to PSX”. Similarly, the IT team of Shenzhen Stock Exchange (SZSE) has been working hard remotely to ensure that the new trading platform is implemented on time, despite the challenges posed by COVID-19.

On his part, Farrukh H Khan, the MD and CEO of Pakistan Stock Exchange expressed gratitude for the assistance by SSE, SZSE and CFFEX to PSX, “We are thankful to our Chinese partners who have given us ample and timely support in the shape of guidelines and safety gear in order to deal with the threat of the coronavirus pandemic”.

Khan further stated, “We have also taken guidance and learnt from the best practices adopted by our Chinese exchange partners.

This has helped us succeed in keeping PSX functioning while keeping our staff safe. This gesture endorses the fact that the strong relationship between the two countries goes beyond the governments, to the level of companies and people”.

MD Pakistan Stock Exchange added, “At this time when the world is in a lockdown and international couriers are not properly servicing Pakistan, PIA, our very own national carrier took on the task of delivering the preventive gear for PSX from China. I would like to appreciate the efforts of PIA, and as a gesture to thank PIA, we at PSX are sharing face masks for PIA employees”. This is an outstanding example of how we can all work together to face this calamity and safeguard our communities.

Pakistan Stock Exchange recognizes and appreciates the effort and camaraderie of its Chinese exchange partners, who in these difficult times worked hard to provide substantive support, guidance and gear so as to help keep PSX functioning while keeping its employees safe in this challenging period.