KARACHI – A fire erupted on the fourth floor of the Pakistan Stock Exchange (PSX) building in Karachi on Monday, leading to a temporary halt in trading activities.
The incident occurred at the PSX premises on I. I. Chundrigar Road, prompting an immediate response from local fire services. Firefighters successfully extinguished the blaze, which was reportedly caused by an electrical short-circuit.
Trading was initially suspended at 10:25 AM and was expected to resume at 11:25 AM. However, officials extended the suspension for an additional hour, with operations now set to restart at 12:25 PM.
As a precautionary measure, all occupants of the PSX building were evacuated to the parking lot. Authorities report no casualties, although minor financial damage is expected.
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The fire department deployed three fire engines to the scene upon receiving alerts about the incident. Emergency responders worked diligently to contain the fire and prevent its spread to other areas of the building.
Cooling operations are currently underway to ensure no resurgence of the fire. PSX officials are assessing the situation and coordinating efforts to resume normal trading activities as soon as possible.
This incident highlights the importance of robust fire safety measures in critical financial institutions. An investigation into the exact cause of the short-circuit is likely to follow to prevent similar occurrences in the future.
As the financial hub of Pakistan, any disruption at the PSX can have significant implications for the country’s stock market and economy. Market participants and investors are advised to stay informed about any further updates regarding the resumption of trading activities.
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