An interesting situation emerged during last 7 x days of JIT investigation. In initial hearing of JIT MNS team realised that this bunch of bureaucrats are niether ready to be bribed nor threatened from the mighty power of Sharif house. They started humiliating & accusing JIT of false allegations. When all dirty tricks failed the ruling govt launched their most affective card Mr Ishaq Dar Finance Minister ( Dar Factor ) which caused panic in business community. The event is explained in delibration as being very important to understand by all is as follows.
1. Ishaq Dar being Finance Minister controls all financial institutions of Pakistan.
2. FM has appointed his personal friends on all key appointments I, e . Chairman SECP, SBP, Govt controlled NBP . ( Pakistans largest Mutual fund NAFA is subsidiary of NBP which is headed by Saeed Ahmed.
3. Chairman SECP Zafar Hijazi is the supreme apex regulator of all financial institutions of Pakistan who was alredy caught in record tempering of choudhri suger mill & FIR registered against him on direction of supreme court.
4. Now comes 03 ajul, 2017 when FM Ishaq Dar is summoned by JIT, Pakistan stock Market psx 100 index sheds 1899 points creating panic in investors. The pro govt media projects that MNS if proved guilty will severly damage the confidence of businessmen/ investors. The same was claimed by stooges of MNS on various channel's. I gave my analysis on the situation at various business group the same day.
5. Then comes Jul, 05, 2017 when Princes Maryam Nawaz faces JIT, all of sudden Pk Rs depreciate 3.3% in just 15 mins causing panic in business community. We also witness divergent sratement of FM & SBP. Next day Pk Rs settle back to previous level. Panic persist. Message is again conveyed if MNS corruption unearthed than countries economy can not survive.
6. Then comes Jul, 10, 2017 D-Day when JIT present its finding to Supreme court proving MNS & family guilty of all charges . PSX 100 index closes 1053 points +ve on Jul, 2017 despite JIT facts finding.
7. Next day on Jul, 11, 2017 Dar factor again emerge as PSX 100 index witnesses largest decline of 2150 points in Pakistan'history. Both decline of PSX dated 03 & 11 , Jul, 2017 are sheer manipulation by Dar Factor as both days primarily Mutual Funds were the major seller who off loaded shares ruthlessly causing panic across the board. Thia fact is on record available with NCCPL .
8. These acts of rulling party indicate that they can go to any extent to protect their corruption no matter what it may cost to the nation or small investor or foreign investor.
9. Interestingly on Jul, 12, 2017 the paid media exploited the innocent nation when Geo reporter Andy projected in his report from PSX , and Dunya News Arenowned anchor Kamran khan twisted facts in favour of MNS as pleading Supreme court, & Army to understand the grave economical losses if JIT report is considered worthy. The same propaganda is spread by other ministers like Ahsan Iqbal, Saad Rafiq & many stalwarts of MNS.
I assure with confidence that a thorough investigation of PSX 2 x ruthless decline of Jul, 03 & 11 , 2017 will prove a collaborated manipulation of Chairman SECP, MF , Institutions on directive of FM.
I would add that stock market is at very lucrative level with fundamentals intact, result season already started, MSCI status intact , CPEC in full swing I see no reason of historical decline in stock market.
Chairman. Pakistan Association of small & Medium Investors ( PASMI )