Fire breaks out at PSX building in Karachi

Fire breaks out at PSX building in Karachi

Smoke arises from the fourth floor of the PSX building in Karachi on July 8, 2024. — Reporter
  • PSX building evacuated, but reopened for public later: officials.
  • PSX administration admits material loss, rules out casualties in fire.
  • Official confirms suspension of trading from 10:25 am to 11:25am.

KARACHI: A fire broke out on the fourth floor of the Pakistan Stock Exchange (PSX) building in Karachi on Monday with rescue efforts underway to douse the blaze.

Officials have said that five fire tenders, one snorkel, and a browser are being used in the operation to tackle the blaze which was caused by a short circuit.

Fire brigade officials have said that the blaze will soon be doused as its intensity is low. While the trading was suspended at the PSX, the building has now been reopened for the public after being evacuated earlier.

“It is hereby informed to all TRE Certificate Holders and concerned that the trading in all securities has been temporarily suspended from 10:25 am to 11:25am today,” PSX’s General Manager and Chief Market Operations Officer Jawad H Hashmi said in a statement.

The official further confirmed that many of the firms are unable to access the building.

According to the PSX management, the fire erupted at around 8am and although it has resulted in some material loss, no loss of life has been reported due to the blaze.

Meanwhile, Deputy Commissioner South also visited the incident site to review the rescue efforts and remarked that the blaze wasn’t of a serious nature.

The city has been witnessing scorching heat in recent weeks making electrical equipment and wiring more prone to heating up and catching fire.

The metropolis has reported multiple fire incidents in recent months. In March, a fire broke out at the old offices Saddar Passport Office destroying a vehicle and record.

Before that, at least three people had died and two got injured when a six-storey apartment building in Karachi’s FB Area near Ayesha Manzil caught fire on December 6 last year.

The blaze spread rapidly and soon engulfed the entire building comprising 250 shops and 450 apartments, creating panic among the dwellers. 

However, the building was completely evacuated within two hours, as the  Fire Department teams reached the site and acted swiftly to douse the blaze after it was reported. 

The incident prompted the then-caretaker government to issue directives to ensure the provision of fire extinguishers in all shops and buildings on an emergency basis to prevent such incidents in the future.

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