LAHORE: Pakistan Tehreek-e-Insaf (PTI) should shun Independence March on August 14 that would dry up the stock markets of the country.
Lahore Stock Exchange (LSE) Chief Executive Officer and ging Director Aftab Ahmed Chaudhry said Karachi Stock Exchange (KSE) had recently crossed 30,000 index points for the first time in Pakistan’s history following the Moody’s International termed Pakistan’s credit rating as positive after ten long years.
He said Independence March would dry-up the country’s stock markets since the foreign investors might withdraw their huge investments from these markets. Therefore the parliamentary opposition and political parties opting for protest marches and sit-in should forge unity and show solidarity on the occasion of Independence Day instead of indulging in negative politics.
Chaudhry said the stock market would stabilis further and foreign investment would increase substantially subject to continuation of the present government and its economic policies.
Frmer LSE Chairman Asim Zaffar said it was unfortunate whenever Pakistan started moving towards self-sufficiency and in the right economic direction attempts were made to damage the country through conspiracies and protest sit-in. Zaffar expressed his apprehension country’s stock markets could crash and there would be economic recession if the Independence March and sit-in at Islamabad turned into to chaotic situation or led to unrest in the country. He said at present foreign funds purchasing shares and mutual funds selling out the shares and inverse of this trend would make very difficult for the stock market to survive or thrive.
Independence Day was not meant for holding protests or marches, but to show solidarity with the nation. Politicians should prefer parliament or dialogue table instead of street protests to resolve issues and problems.
KARACHI: The State Bank of Pakistan (SBP) on Saturday slashed the discount rate by another 100 ...