ISLAMABAD, November 21, 2025: The Securities and Exchange Commission of Pakistan (SECP) has approved the Pakistan Mercantile Exchange Limited’s (PMEX) strategic acquisition of a majority stake in Naymat Collateral Management Company Limited (NCMCL)—a move expected to transform Pakistan’s agricultural market infrastructure and accelerate the growth of the Electronic Warehouse Receipt (EWR) ecosystem.
According to the SECP, the integration of PMEX and NCMCL is aligned with its broader objective of linking Pakistan’s commodity futures market with real economic activity and modernizing agricultural value chains through digital solutions. The Commission noted that the successful rollout of the EWR system by the Punjab government for wheat storage last year demonstrated the model’s effectiveness, strengthening the case for national expansion.
The EWR framework serves as a secure, digital mechanism allowing farmers and warehouse operators to register stored commodities in a verifiable and nationally recognized system. These electronic receipts become valuable financial instruments—helping farmers secure loans, trade produce, or access regulated commodity markets. As the central institution responsible for warehouse accreditation, registry maintenance, and system governance, NCMCL plays a critical role in ensuring transparency and trust across the supply chain.
With NCMCL regarded as the backbone of Pakistan’s EWR ecosystem, PMEX’s acquisition is expected to inject stronger institutional capacity, governance standards, and operational leadership. The move is anticipated to help scale up the network of accredited warehouses, enhance confidence in stored agricultural commodities, and further expand access to finance for farmers and agribusinesses. Strengthening this architecture will also enable PMEX to introduce deliverable agricultural futures contracts, aligning Pakistan’s commodity markets with global best practices.
The SECP commended the PMEX Board and management for their forward-looking approach, stating that the acquisition represents a significant milestone toward building a transparent, efficient, and resilient agricultural marketplace in Pakistan.
