Pakistan Mercantile Exchange (PMEX) is the first and the only commodities exchange established in Pakistan, deals broadly in local and international commodities’ future contracts listed at exchange. PMEX was formed in 2002 and started its operations in May 2007 offering a diverse range of domestic and international products across multiple asset classes. PMEX is a demutualized exchange and the shareholding is completely institution based. PMEX works under Futures Market 2016 and PMEX regulations as approved by Securities Exchange Commission of Pakistan. On December 12, 2019 more than 8 billion rupees volume has been transacted in metal and energy contracts while more than 7 billion rupees volume has been transacted in agriculture contracts.(source website PMEX) Almost all futures contracts at PMEX are cash settled contract where physical delivery is not possible. Trading such futures and derivatives is impermissible as per sharriah law. As concluded and resolved majority of the shariahscholars globally, futures are not permitted.(Source: International Islamic Fiqh Academy Resolution No. (63)1/7). Moreover, constitution of Pakistansays “that no law shall be enacted which is repugnant to Islamic Injections”.(Source: Constriction of Islamic republic Pakistan, part xi clause 227). There are several Ahadith where Holy Prophet SAWS also prohibited involving in sale of deception.(Bukhari, sale of Gharar) In another hadith The Holy prophet, may God bless him and grant him peace, prohibited the sale of fruits until they were ripe, The Holy Prophet SAWS further told: “if God prevented the fruit, what would one of you take his brother’s money?”.(Bukhari)Based on above references and shariah principles PMEX is strongly advised to convert its maximum business towards shariah compliant trading contract. PMEX had listed only few spot deliverable contracts previously after taking specific approval of commission i.e. SECP. “There is no specific and detailed guideline for listing spot commodity contract which would cover quality testing, warehousing and delivery of the commodity from SECP however after taking specific approval any spot contract may be listed at PMEX”.(Said PMEX official)Long awaited dreams come true and now PMEX is working closely to list Pakistan’s first ever spot commodity contract of Crude Palm oil (CPO) at PMEX trading counter. PMEX is the only registered commodity exchange in Pakistan while our neighbor country India has four commodity exchanges registered with commission. One of these exchanges facilitates only spot contracts and that particular exchange is connecting 170 local markets in one single market which is MeML exchange. That modern exchange offers automated auction and post auction facilities (weighting, invoicing, market fee collection, accounting), assaying facilities in the markets, facilitate warehouse-based sale of produce, facilitate commodity funding, price dissemination by leveraging technology.(source: Website of the NeML exchange india) Turkey had also launched spot commodity exchanges to match and stabilize the prices of commodities. Currently, Turkey has 113 officially registered commodity exchanges, all of them active for agricultural commodities trade. Out of them around 20 exchanges deals in spot commodity contracts. One of the famous commodity exchange deal in spot contracts Izmir commodity exchange.(source: WORKING PAPER prepared under the Food Agriculture Organizations of united nations /World Bank Cooperative Program) PMEX previously launched shariah compliant trading platform and successfully listed spot deliverable contract of HSD (High Speed Diesel) but this platform is inactive since long, as confirmed by Shariah Advisor of this platform.(Said Shariah Advisor of PMEX – shariah compliant trading patform)PMEX should clarify on its website that this platform is inactive and currently there is no shariah advisory arrangement in place between PMEX and Shariah Advisor. SECP must consider for lifting ban from shariah compliant trading platform, which was unique and out-class liquidity management resource for Islamic financial institutions by advising PMEX some good and efficient control measures.All shraiah issues raised by some regulatory officials are easily manageable as per the discussion with majority of the experts of Islamic financial experts.