Mohammad Yasin Lakhani has been tipped for the new chairman of the Karachi Stock Exchange (KSE) for 2005. According to a notice issued for all members of the KSE, three candidates withdrew their nomination papers for 2005, which resulted in unopposed election of five directors for 2005. The exchange on December 1, 2004 received eight nomination papers for five vacancies for the directorship of the KSE, which after scrutiny were found in order by the appointed scrutiny members.
Three candidates who have withdrawn their nominations are Mohammad Ashraf Kothari, Salim Chamdia and Mohammad Rafiq Tumbi.
Following is the final list of nominations for the KSE directors for 2005: Mohammed Siddique Dalal, Mohammad Yasin Lakhani, Dawood Jan Mohammad, Shehzad Chamdia and Abid Ali Habib.
Following the election of stock exchange directors, by the last week of this month, the exchange would appoint outside directors from non-banking financial institutions or institutes like Institute of Chartered Accountants, Institute of Cost Management Accountants of Pakistan, etc.
Yasin Lakhani is the hot candidate to become chairman for 2005. If elected he would be on the top slot for the fifth time. In 1994, he was the president of the KSE, while in 1998, 1999 and 2001 he was elected as the chairman.
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