Blaze Disrupts Operations at Pakistan Stock Exchange in Karachi

A fire broke out on the fourth floor of the Pakistan Stock Exchange building in Karachi, leading to a temporary suspension of operations. No casualties were reported. The fire was controlled and trading resumed after an hour. Two PSX offices were damaged, and an investigation is underway.

A fire broke out at the Pakistan Stock Exchange (PSX) building in Karachi's Sindh province on Monday, causing a temporary suspension of trading activities, according to the police.

Thankfully, no casualties were reported in the incident, which occurred on the fourth floor of the building, a police official confirmed.

The stock exchange reopened to the public in the afternoon after firefighters managed to control the blaze and began the cooling process.

'It is hereby informed to all TRE Certificate Holders and concerned that trading in all securities has been temporarily suspended from 10:25 am to 11:25 am today (Monday),' stated Jawad H Hashmi, PSX's General Manager and Chief Market Operations Officer.

Deputy Commissioner South Altaf Saryom noted that two PSX offices were damaged by the fire.

He added that a police investigation into the cause of the blaze would commence once the cooling process was finished.

The blaze initially started on the fourth floor, where the offices of Ali Habib Trading Company are located, he said.

According to Sindh Rescue 1122 spokesperson Hassaan Khan, six fire engines, a snorkel, and a water bowser were deployed to extinguish the fire, and no loss of life was reported.

Karachi has been experiencing extreme heat in recent weeks, which has increased the likelihood of electrical malfunctions and fires.

The city has reported multiple fire incidents in recent months.

(With inputs from agencies.)