Karachi (HRNW)- Faraz-ur-Rehman, Founder of the Pakistan Business Group and former Chairman of the Korangi Association of Trade and Industry (KATI), has expressed serious concern over the unusual price difference between local trading rates and international market prices at the Pakistan Mercantile Exchange (PMEX), stating that this situation is causing billions of rupees in losses to investors.
Faraz-ur-Rehman said that the difference between international crude oil prices, particularly West Texas Intermediate, and local trading rates at PMEX sometimes exceeds one US dollar, which is not a normal practice in global markets. He noted that this situation reflects a lack of transparency and ineffective oversight.
He clarified that the issue does not require dramatic adjustments or artificial price changes at PMEX; rather, it should be addressed through transparent and fair regulatory oversight by the Securities and Exchange Commission of Pakistan (SECP).
According to him, in global markets such a wide gap between buying and selling prices is highly unusual, and the current situation in Pakistan raises serious questions regarding pricing transparency and regulatory monitoring.
Faraz-ur-Rehman further stated that if the issue is not addressed promptly, investors may feel compelled to raise their concerns on international forums, which could affect market confidence.
He urged the government must intervene and relevant authorities to take immediate action and transparent measures to protect investors’ capital, safeguard tax revenues, and prevent further financial losses.
He emphasized that strengthening and stabilizing the exchange is in the interest of the entire country.
Ensuring transparency and effective oversight will help restore investor confidence and allow Pakistan’s financial markets to operate in line with international standards.
Faraz-ur-Rehman called on the relevant authorities to conduct an immediate review and ensure that pricing mechanisms in the market are clear and transparent so that investors’ capital remains protected and Pakistan’s financial markets can grow with stability and credibility.
