The much awaited foreign experts' investigation report on the Karachi Stock Exchange March-2005 crisis will be presented to the National Assembly Standing Committee on Finance and Revenue on November 21. This was announced by PM's Adviser on finance Dr Salman Shah while talking to a private TV channel on Monday.
He said the foreign experts in their briefing to the NA standing committee would point out the causes of the KSE March-2005 crisis. It is worth mentioning the SECP announced investigation regarding the KSE March-2005 crisis, in which the investors lost $13 billion. A US investigating team was hired to probe against the suspect involvement of a number of brokers in March crisis in July 2006 and the probing team issued notices to 12 brokers at KSE for their suspect involvement in the said crash. The brokers were directed to provide data of their transactions made prior to KSE crash.
The forensic team was given a three-month time to complete its investigation on the subject and present a comprehensive report before the NA standing committee on finance within the stipulated time.
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