MSCI adds 1 Pakistani co to Frontier Market Small Cap Index
Morgan Stanley Capital International (MSCI) Inc., a leading provider of critical decision support tools and services, announced the addition of one Pakistani company as a constituent on its Frontier Market (FM) Small Cap Index as part of its August 2026 index review. Meanwhile, one Pakistani company has been removed from its FM Small Cap Index. In the MSCI Frontier Markets Small Cap Indexes, one…
MSCI, a major decision support tool provider, added Air Link Communications, a Pakistani company, to its Frontier Market Small Cap Index as part of their August 2026 index review. Concurrently, Biafo Industries was removed from the same index. This update brought the total number of Pakistani companies in the MSCI Frontier Markets Small Cap Index to 80.
Despite this change, there were no alterations to Pakistan's representation in the MSCI Frontier Markets Index, which currently consists of 109 stocks. The adjustments are set to take effect from the close of August 31, 2026. Pakistan was downgraded from an emerging market status in September 2021, four years after being moved out of the Frontier Markets Index.
At that time, MSCI noted that, although the Pakistani equity market fulfilled accessibility criteria for emerging markets, it failed to meet size and liquidity standards.
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