Karachi: Shares certificates from a slew of major Pakistani companies have been reported lost or misplaced, with issuers warning the Pakistan Stock Exchange (PSX) and its members to halt transactions on these documents pending further verification. The affected companies include some of the nation’s most prominent banking, automotive, and manufacturing entities such as Habib Bank Limited, Indus Motor Company, and Allied Bank Limited.

The certificate losses were first announced by CDC Share Registrar Services Limited and span multiple sectors. Companies detailed in the notice include BankIslami Pakistan Limited, Attock Petroleum Limited, Lucky Cement Limited, Al-Abbas Sugar Mills Limited, Faysal Bank Limited, Cherat Cement Company Limited, Sui Southern Gas Company Limited, Pak Suzuki Motor Company Limited, and Millat Tractors Limited.

According to information available from the Pakistan Stock Exchange (PSX), specific losses include certificates owned by individuals like Aadil Shaukat and Anis Ahmed. For instance, Shaukat's lost certificates for Millat Tractors involved nearly 2,000 shares, while Ahmed reported a loss of 921 shares at Askari Bank Limited. The companies have issued notices advising PSX members not to engage in transactions with these certificates until the matter is resolved.

The process for addressing these incidents involves a brief waiting period—three to seven days—during which objections to the issuance of duplicates can be filed. If no objections are raised, the companies will proceed to issue duplicate certificates to the affected shareholders.

This series of losses highlights potential vulnerabilities in physical securities management and underscores the ongoing challenges faced by financial institutions in safeguarding shareholder assets.