The Securities and Exchange Commission of Pakistan (SECP) approved on Friday proposed acquisition of a majority stake in the Naymat Collateral Management Company Limited (NCMCL) by the Pakistan Mercantile Exchange Limited (PMEX).
“This strategic move is set to accelerate the development of Pakistan’s Electronic Warehouse Receipt (EWR) ecosystem,” a CCP statement said.
The EWR system is a secure, digital platform that allows farmers to use their stored crops as verifiable collateral. This enables them to access financing, sell their produce more effectively, and participate in formal trading, ultimately strengthening the entire agricultural value chain, according to the CCP.
By integrating PMEX’s institutional strength with NCMCL’s role as the central operator of the EWR system, the collaboration “will expand the network of accredited warehouses, enhance trust and transparency for stored commodities, and improve access to finance for farmers and agribusinesses”.
Earlier this week, the SECP said Pakistan was witnessing a significant rise in business confidence and investment activity, supported by the effective facilitation and strategic direction of the Special Investment Facilitation Council (SIFC).
The SECP reported that 14,802 new companies were registered in the first four months of the current financial year. With the latest additions, the total number of registered companies in Pakistan reached 272,918.
