I refer to your issues of July 10 and 11 with particular reference to the wordy duel between eminent doctors Tariq Hassan and Salman Shah, blaming one another for the March 2005 stock exchange crash in Pakistan. This matter could have been dealt with by either without loss of dignity or responsibility.
Since the matter is yet under investigation by forensic accountants whose report is expected in next three months, a public debate on it was best avoided. Of the two doctors, one made his statement before a Standing Committee of the National Assembly, into a white paper and issued it to the Press.
The other would not bear to be left behind and quick came a rejoinder from him, also a public one, blaming the former SECP Chairman of flawed planning causing thereby the crash on the stock exchanges.
One couldn't, however, agree more with the view of the former SECP Chairman that the monopolistic hold of stock brokers on the economy has grown, and, stock brokers have become the 'power-brokers' in the political economy of the country.