Elite circles take notice of mishandling of KSE crisis by task force in report

Monday August 22, 2005 (1412 PST)

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ISLAMABAD, August 23 (Online): Elite circles have taken a serious notice of not handling the current Karachi Stock Exchange (KSE) Market crisis in better way by Task Force and saving those who are really responsible for it.

Following this development Chairman Security Stock Exchange Tariq Hassan has decided to tender resignation on his own and he will present his resignation to the prime minister within a few days.

Well placed sources told Online Monday that KSE had landed on ever worst crisis of its history which had swallowed billion of rupees of the capitalists.

Security Exchange Commission had set up 8-member committee to probe into the scandal. This presented its report a few days earlier. The report was not only rejected by national assembly standing committee on finance but also the elite circles took a serious notice of committee attempt to save the real responsible persons in the report.

The matter was got investigated by an independent agency besides task force and its report was sent to the President and the Prime Minister. The names of the real faces were mentioned in this report who were responsible for this crisis which put the market on the brink of destruction.

The top official circles had also sought explanation from Hassan Tariq but he could not satisfy them.

Tariq Hassan was also found allegedly involved in the irregularities in the matters of commission. Therefore, he on the pressure from the top official circles has decided to resign from his office on his own.

End.