KSE cuts 'Laga' by 4.8 percent

The Karachi Stock Exchange (KSE) has decided to reduce the transaction cost commonly known as 'Laga' by 4.8 percent from Thursday.
KSE Managing Director Moin M. Fudda has said the Board of Directors of the Exchange in their meeting held on June 15 has decided to reduce the 'Laga' in Ready Market (T+3) from Rs 3.75 for every Rs 100,000 to Rs 3.57 for every Rs100,000 from July 1, 2004.This reduction in the KSE charges equivalent to 5 percent of the existing charges ie Re 0.18 for every Rs 100,000 would provide relief to the members as well as to the ultimate investors following assumption of National Clearing and Settlement Function by NCCPL and its charges, said Moin Fudda.