Lahore Stock Exchange (LSE) Managing Director Aftab Ahmed Chaudhry has said that due to worse conditions in Karachi, the economy is suffering from a severe loss which has affected the country's stock markets. The government should take immediate steps to improve the conditions in Karachi so that the stock markets get stable and investments come to Pakistan.
The Managing Director, in a statement on Wednesday said Karachi is the center of all the businesses in Pakistan; if this city gets hurt, it affects the whole country. Economy has already suffered due to terrorism in Pakistan, he added. Target killings across the country have affected the businesses. As stock market of a country reflects its economy, a downfall in the stock market leaves negative effects on the economy, he said and added that investors are drawing back their investments from the stock market which is resulting in low share prices; this affects small scale investors the most.
He further said that stock markets bring more profits to the investors than any other business, if terrorism could be eliminated from Karachi, the Karachi Stock Market could be the best stock market in the world and also there would be an increase in internal and external investments in the markets. The Managing Director said the Pakistan's stock markets are well equipped with new technology and smooth running systems, which can run the share business in a clean and transparent manner.