PMEX targets better productivity

Pakistan Mercantile Exchange (PMEX) CEO Khurram Zafar on Wednesday said that PMEX wanted to advance the concept of innovation and productivity in the commodity market by increasing efficiency in agriculture and metal sectors.

"We are envisioning future markets under which market regulation will be maintained and competitiveness and productivity will be enhanced," the CEO told APP in an interview. He said that the exchange registered a trading volume of around Rs3,800 billion in the current fiscal year.

He elaborated that "commodity futures are derivative contracts where the purchaser agrees to buy a specific quantity of a physical commodity at a specified price on a particular date in future".