London March 28 2024: Pakistan will remain on the Watch List for potential demotion from Secondary Emerging to Frontier market status, according to the latest FTSE Russell results of March 2024 country classification review for equities.
Today, FTSE Russell, the global index provider, has published the results of its March 2024 country classification review for equities and fixed income.
Over the last few years, Pakistan has experienced a steady decrease in its index weight within FTSE Russell global benchmarks. This has resulted in the market failing to meet the minimum investable market capitalisation exit level threshold required to retain a Secondary Emerging market status.
If Pakistan fails the minimum investable market capitalisation and securities count exit level thresholds, based on data as of the close on Friday 28 June 2024, then subject to final ratification by the FTSE Russell Index Governance Board, Pakistan will be demoted from Secondary Emerging to Frontier market status. This action will be taken in conjunction with the September 2024 index reviews that are effective from the open on Monday 23 September 2024. FTSE Russell will provide an update on the Watch List status of Pakistan at the beginning of July 2024.
