GOVERNMENT IS INVOLVED IN THE KARACHI STOCK EXCHANGE SWINDLING & MANIPULATION
The Manipulating Director (M.D) of Karachi Stock Exchange, Mr. Moin M. Fudda said yesterday (Jang Karachi Internet Edition) that, “the KSE is heading towards ‘stability’ and ‘steadiness’”. He also lied to the people by coming up with other excuses like, badla settlements, clearance etc were one of the few reasons of KSE’s knocking down of 3300 points.
I don’t know, whether KSE is heading towards ‘stability’ or ‘disability’ but, I do know for sure, that the KSE THUGS are most definitely making Billions of Rupees overnight by peeling off the skin of poor small investors and robbing them like hell.
After losing 3300 points in 7-8 sessions, the KSE picked up on 29th and 30th March, 2005 adding 400 points. But market slid down again on 31st March by over 300 points.
That’s what I always say that, this “hide and seek” game makes THUGS Billions of Rupees overnight and thus it should be stopped. This swindling and manipulation, what THUGS call it, ‘correction’ ‘stability’ ‘Balochistan situation’ ‘MMA strike’ ‘Bomb Blast’ etcetera but, in fact, these are the crippled alibi to ‘manipulate’ the market to buy stocks on lower prices and sell at higher.
One thing is clear that, either, these THUGS are more powerful than the government or the entire government ‘chain’ is ‘linked’ to thing bungling, including President Musharraf, P.M Mr. Shaukat Aziz, SECP Chairman Dr. Tariq Hassan (who is also the advisor to the P.M) and State Bank Governor.
Once, I was reading the biography of Prime Minister Shaukat Aziz on a Website which at one place said that some analysts believe, before Mr. Shaukat Aziz came to Pakistan as Finance Minister and was working with Citibank, he happened to be known to President Musharraf’s son in the United States and Mr. Aziz helped a lot to Musharraf family to manipulate money in the United States. In return, President Musharraf picked Shaukat Aziz Finance Minister as, in the long run, he could be more beneficial to the Musharraf family.
In reality, the KSE base is not more than 3000-3500 points and rest is all garbage, fake, jugglery, fabrication and different ways of conning down the small investors and throwing dust into the eyes of the world about Pakistan’s economy.
I would suggest, that if government is honest and sincere in it’s claim to investigate KSE affairs, they should assign World Bank and other foreign experts, not only to investigate the affairs of the KSE but to closely monitor it’s future trading practices.
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April 01, 2005