Home Business A significant fire occurred at the Pakistan Stock Exchange in Karachi, leading to the suspension of trading.

A significant fire occurred at the Pakistan Stock Exchange in Karachi, leading to the suspension of trading.

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A significant fire occurred at the Pakistan Stock Exchange in Karachi, leading to the suspension of trading.Local media reported a fire at the Pakistan Stock Exchange building on Monday, which rescue officials quickly brought under control; the building is now undergoing a cooling process, Dawn reported

Local media reported a significant fire on the 4th floor of the Pakistan Stock Exchange (PSX) building in Karachi. Fire brigade vehicles were deployed to extinguish the flames, causing a delay in trading activity, according to reports. 

Fire Incident at Pakistan Stock Exchange Building

DC South Altaf Sario confirmed damage to two PSX offices and pledged an investigation into the incident.

After a fire started on the fourth floor of the Pakistan Stock Exchange (PSX) building on Monday morning, the cooling process is now in progress. Five fire tenders, one snorkel, and a browser were deployed to handle the blaze, sparked by a short circuit. Earlier, the PSX building was evacuated and trading temporarily halted, later resuming once the fire was contained.

PSX’s General Manager and Chief Market Operations Officer Jawad H Hashmi announced the temporary suspension of trading in all securities from 10:25 am to 11:25 am today for TRE Certificate Holders and concerned parties. He also noted that several firms were unable to access the building.

Pakistan Stock Exchange
Image Source: Dawn

The official confirmed damage to two PSX offices in the blaze, reassuring that an investigation would follow after the cooling process. Karachi has seen heightened heat recently, increasing the risk of electrical fires. Multiple fire incidents, including one at the old Saddar Passport Office in March, have occurred. In December last year, a six-storey apartment building near Ayesha Manzil saw a fire resulting in three deaths and two injuries, prompting swift evacuation by Fire Department teams.

A fire erupted at the Pakistan Stock Exchange building in Karachi, Sindh province, on Monday, prompting the suspension of operations. According to police, the blaze on the fourth floor caused no casualties. The stock exchange reopened to the public in the afternoon after firefighters controlled the fire and initiated cooling measures.

PSX’s General Manager and Chief Market Operations Officer Jawad H Hashmi informed TRE Certificate Holders and concerned parties about the temporary suspension of trading from 10:25 am to 11:25 am on Monday. Deputy Commissioner South Altaf Saryom confirmed damage to two PSX offices and stated that a police investigation into the fire’s cause would commence after the cooling process.

The fire initially started on the fourth floor where the offices of Ali Habib Trading Company are located, as reported by officials. Sindh Rescue 1122 spokesperson Hassaan Khan reported no fatalities, with six fire engines, a snorkel, and a water bowser deployed to extinguish the flames. Karachi’s recent scorching heat has increased the risk of electrical fires, contributing to several recent fire incidents in the city.

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