KARACHI: The Securities and Exchange Commission of Pakistan (SECP) has formally permitted National Commodity Exchange (NCE) for trade of edible oil, Geo news reported on Thursday morning.
The Managing Director of NCE Sumair Ahmed told Geo news, the NCE had been waiting, from federal government, for the approval of gazette notification for last one month, which would allow the organization to trade raw edible oil, however, SECP informed us yesterday that commencement of edible oil trading did not require such notification.
He hoped to kick off crude oil trading within two weeks to come, adding, oil companies will be beneficiaries of edible oil trading the most among others.
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