Exchange Association of Pakistan formed

KARACHI: The exchange companies working all over the country have formed the Exchange Companies Association of Pakistan (ECAP). A decision to this effect was taken at a meeting of the representatives of 15 exchange companies from all over the country. The companies represented at the meeting were Al Sahara Exchange, Data Exchange, Dollar Exchange, Eastern Exchange, Galaxy Exchange, H & H Exchange, Malik Exchange, National Exchange, Noble Exchange, Pakistan Exchange, Paracha Exchange, PICIC Exchange, Wall Street Exchange, Zarco Exchange and Khanani & Kalia Exchange. Initially, management of ECAP will be run by an ad-hoc Committee, comprising Haji Haroon (president), Mehboob Moti (vice president), Anwer Daar (vice president), Munaf Kalia (general secretary), Abu Talib (treasurer) and Malik Bostan and Naeemuddin (members). The committee will work till December 25 and then be substituted by a permanent duly elected management body. In the initial ECAP meeting, Mr Kalia said that ECAP members will extend their full cooperation and play an effective role along with the State Bank of Pakistan at every step for the betterment of the country’s economy. —APP

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