NCCPL issues Loss Notices to two KSE members

The National Clearing Company of Pakistan Limited (NCCPL) on Wednesday issued Loss Notices to two members of Karachi Stock Exchange (KSE) to clear their dues. The NCCPL, in these notices directed the said members to give response to NCCPL within 24 hours after receipt of the notices. They will be sent default notices if they fail to give response in time.
"If these members fail to clear their dues within seven days from receipt of default notices, they would officially be declared default members of the exchange", an NCCPL official said. Earlier, Karachi Stock Exchange (KSE) on behalf of NCCPL had hold "Selling out sessions" to sell out their holdings. However, total bids received by the NCCPL were much less than their total outstanding.