| GEO Pakistan |
| Federal bodies express reservations on KSE bailout fund |
Updated at: 1829 PST, Saturday, October 25, 2008 LAHORE: Four of the federal organizations have expressed their reservations on provision of a fund amounting to Rs20 billion to Karachi Stock Exchange (KSE) for pulling the share market out of the prevailing crisis.According to sources, the Federal Government directed the State Life, National Bank, National Investment Trust and Employees Old Age Benefit Institution to extend Rs20 billion to KSE. The federal bodies are of the view that the fund created with the money of the poor, pensioners, insurance holders and others should not be provided to KSE. These bodies have already extended Rs5 billion to KSE in a bid to support the market. |
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