Karachi: The Pakistan General Insurance Company Limited (PKGI) will transition to the "Normal Counter" at the Pakistan Stock Exchange starting October 01, 2024. This move follows PKGI's resolution of specific regulatory issues that previously placed it under scrutiny.

Previously, as per PSX Notice No. PSX/N-897 dated September 12, 2024, PKGI was designated under the Defaulters' Segment due to non-compliance with PSX Regulation 5.11.1.(a), which pertains to suspended commercial production or business operations in its principal line of business. According to information available from the Pakistan Stock Exchange (PSX), PKGI has since resumed its principal business activities, confirmed through a notification by its auditor, Mushtaq & Co. Chartered Accountants, on September 30, 2024.

The successful rectification of non-compliance issues under PSX Regulation 5.11.1.(b) has enabled PKGI to reposition itself in the market. The company has been advised to adhere strictly to all applicable rules and regulations to protect the interests of minority shareholders.

This regulatory resolution allows PKGI to potentially regain the trust of its investors and stakeholders by demonstrating operational and financial compliance.