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Opp charges PM with KSE manipulation

ISLAMABAD: The opposition in the National Assembly has accused Prime Minister Shaukat Aziz of involvement in fraudulent activities in the Karachi Stock Exchange (KSE). Speaking at the Parliament House Cafeteria on Thursday, Khawaja Asif of the Pakistan Muslim League-Nawaz, Ghulam Murtaza Satti of the Pakistan People’s Party Parliamentarians and Laeeq Khan of the Muttahida Majlis-e-Amal said that four people were “playing with the small investors’ money in the stock exchange and making billions of rupees, and are being patronised by Shaukat Aziz”. They said that Arif Habib, Jahangir Saddiqe, Aqeel Karim Dady and Mottiwala were controlling the KSE. They said that the “big four” brokers had been involved in “dirty gambling” under government supervision.They said that opposition members of the Finance Committee of the National Assembly had consistently requested committee meetings, which had been postponed on the prime minister’s repeated interventions. They said that they had also invited former Securities and Exchange Commission of Pakistan chairman Dr Tariq Hussain to make public a report regarding irregularities in the KSE. They said that the four major brokers had “manipulated the market” by first raising stock values “artificially”, and then selling off all their stocks to cause a sharp decline in share prices. They said that the stock exchange had lost 950 points in the last two days, but had risen again over 400 points in a day, which was “gambling”. The four brokers had earned Rs 40 billion in the last cycle, they said. staff report

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