Karachi: In recent updates provided by the Pakistan Stock Exchange (PSX), several Pakistani companies have reported significant losses of share certificates, impacting numerous shareholders.

According to information available from the Pakistan Stock Exchange (PSX), Pakistan State Oil Company Limited (PSO) disclosed the loss of share certificates totaling 28,551 shares across various folio numbers. Similarly, Askari Bank Limited reported the misplacement of a certificate representing 2,559 shares owned by Mrs. Farhat Kausar.

The losses extend across several other major firms listed in Annexure "A", which includes Lucky Cement Limited, Faysal Bank Limited, Cherat Cement Company Limited, Sui Southern Gas Company Limited, Pakgen Power Limited, and Habib Bank Limited. Detailed reports indicate a wide range of folio numbers affected, with various shareholders, such as Mr. Hashim and Mrs. Yasmin Anees, experiencing the loss of hundreds to thousands of shares due to misplaced or lost certificates.

Additionally, Millat Tractors Limited and Bank Al-Habib Limited have also registered losses. For instance, Mr. Nasir Jamil Ahmad from Millat Tractors reported misplaced certificates potentially affecting 140 shares.

All listed companies have issued notices to the exchange members, urging them not to transact with the mentioned certificates until the matter is resolved. The companies have stipulated a seven-day objection period following these announcements, after which they will issue duplicate certificates if no claims are made against the losses.

This series of reported losses highlights significant administrative challenges within these companies, potentially affecting stockholder confidence and requiring robust improvements in document management and security practices. The PSX has been advised of these incidents and is coordinating with the companies to mitigate any further issues.