Chairman PSX, Husain Lawai resigns

An emergent meeting of the Board of Pakistan Stock Exchange Limited (PSX) was held today, July 12th 2018, where the resignation submitted by Mr. Husain Lawai (Chairman, PSX Board), was considered and accepted by the Board with immediate effect. 

Consequently, the position of Chairman of PSX has also been vacated. The appointment of new Chairman of PSX will be made by the Board at its subsequent meeting. 

Moreover, the casual vacancy created due to the resignation will be filled within stipulated time in accordance with the prescribed procedure.
The resignation comes about under SECP’s direction to Pakistan Stock Exchange to remove Mr. Hussain Lawai as Chairman of the Board, in view of the First Information Report (FIR) registered by the Federal Investigation Agency (FIA) on July 6, 2018 under Pakistan Penal Code with Prevention of Corruption Act, 1947, and the Anti-Money Laundering Act, 2010, nominating among other individuals, Mr. Lawai as one of the accused.