Pakistan Economic Indicator - The Karachi Stock Exchange Takes a Nose Dive
2008-08-27 13:02:12 (GMT) (Caymanmama.com - Pakistan News Top Stories News)
Karachi (Geo News) The current political between the Pakistan Peoples Party and Pakistan Muslim League’s tussle has shaken the Karachi stock exchange. The market dipped by 285.36 points taking the market at 9,144.93. The panic driven members of Karachi Stock Exchange went into emergency meeting at 3:00 PM. Among the several proposals discussed, the proposal of capping the KSE-100 index at 9,000 points was also tabled. The Security and Exchange Commission (SECP) could not decide on the course of action as the members could not reach a consensus.
Members of the Karachi Stock Exchange said that they had tried to contact the Finance Minister but did not receive a reply from Mr. Naveed Qamar. The members said that the Karachi Stock Exchange has sunk to a low level and the government has made no sincere move to salvage the market from the present crises.
For detailed news visit: http://www.geo.tv/8-27-2008/23619.htm
CaymanMama.com - Press Release Distribution Service
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