KARACHI - About 40 brokers of Karachi Stock Exchange have approached the KSE on Sunday to seek relief from the payment of CFS arrears. The brokers have filed applications with the KSE after their agreement to sell their shares at 12.5 per cent less than their market price. A couple of days ago the federal government, KSE, National Clearing Company of Pakistan and brokers held a meeting in Karachi in which they decided that the brokers who were unable to pay their CFS arrears to NCCL would sell their shares at 12.5 per cent less than their market price to the financial institutions. About 100 brokers of KSE are unable to make payment of Rs 9.6 billion to the NCCP. To settle this issue the federal government and the KSE have involved financial institutions to buy shares from the brokers who are facing default situation. The brokers have termed this development positive to resolve the stock market crisis.