08-31-2007, 03:33 PM
<center><b>Musharraf's business no longer a going concern </b> </center>
SARFARAZ AHMED
KARACHI (August 29 2007) It's a bear market for quite some time. A widespread belief that prices are more likely to fall than to rise, at least in the immediate future, is said to be leading many an investor to sell shares and defer purchases.
In recent days in particular, there are a large number of persons who are selling shares because they think the prices will fall and they will be able to buy them again more cheaply later. In other words, it is a period when Stock Exchange prices are falling because shareholders are selling since they believe the market will fall further. Hardly anybody is seen purchasing shares, especially in an aggressive and pushing manner.
Although the bourses are not the only or the right implement one would necessarily like to employ for examining a country's economy, the barometer is definitely falling and showing that it will probably rain. Nevertheless, a strong sense of a possible change in all or some economic indicators is pervasive in the present situation, which is evidently full of confusion, uncertainty and chaos.
Notwithstanding the collapse of US subprime mortgage market and its possible minimal effects on Pakistan's economy, it remains to be seen whether or not the present momentum of economic growth will be holding in the near future. People are feeling worried or nervous about their future as an extremely uncertain situation that has been obtaining for the past couple of months in particular amidst a serious deterioration in law and order has heightened concerns, if not fears, in recent days.
People are in a state of not being certain about what is happening, what they should do, what something means, etc. In short, the present situation has thrown them in total confusion. They don't have plausible answers to questions with regard to possible return of Sharifs, presidential election, on-going government-PPP negotiations and serious differences among PML-Q leaders on General Musharraf's uniform. Unfortunately, everyone from the government has been economical with the truth as their statements are mostly misleading impressions. Most of the opposition leaders are no different from the government's when it comes to giving a clear picture of things, events and possible scenarios. Most of the political commentators also appear to be clueless about how things will be shaping up in the immediate future.
Facing the prospect of a serious crisis in the coming days and weeks in relation to his political future, it is interesting to note that General Musharraf yesterday expressed his resolve that he would not allow his eight years of hard work of turning Pakistan into prosperous country go waste. The president has been quoted as saying that he is in contact with all political parties, including the PPP, to achieve political stability and that all is happening in the national interest so that the country might remain on track of development.
Although the general is trying to say that it is the country's economy and its progress that matters the most to him and that he's not after the job, he is frankly reassuring people that the only job that he covets is the one he holds at present.
Copyright Business Recorder, 2007
SARFARAZ AHMED
KARACHI (August 29 2007) It's a bear market for quite some time. A widespread belief that prices are more likely to fall than to rise, at least in the immediate future, is said to be leading many an investor to sell shares and defer purchases.
In recent days in particular, there are a large number of persons who are selling shares because they think the prices will fall and they will be able to buy them again more cheaply later. In other words, it is a period when Stock Exchange prices are falling because shareholders are selling since they believe the market will fall further. Hardly anybody is seen purchasing shares, especially in an aggressive and pushing manner.
Although the bourses are not the only or the right implement one would necessarily like to employ for examining a country's economy, the barometer is definitely falling and showing that it will probably rain. Nevertheless, a strong sense of a possible change in all or some economic indicators is pervasive in the present situation, which is evidently full of confusion, uncertainty and chaos.
Notwithstanding the collapse of US subprime mortgage market and its possible minimal effects on Pakistan's economy, it remains to be seen whether or not the present momentum of economic growth will be holding in the near future. People are feeling worried or nervous about their future as an extremely uncertain situation that has been obtaining for the past couple of months in particular amidst a serious deterioration in law and order has heightened concerns, if not fears, in recent days.
People are in a state of not being certain about what is happening, what they should do, what something means, etc. In short, the present situation has thrown them in total confusion. They don't have plausible answers to questions with regard to possible return of Sharifs, presidential election, on-going government-PPP negotiations and serious differences among PML-Q leaders on General Musharraf's uniform. Unfortunately, everyone from the government has been economical with the truth as their statements are mostly misleading impressions. Most of the opposition leaders are no different from the government's when it comes to giving a clear picture of things, events and possible scenarios. Most of the political commentators also appear to be clueless about how things will be shaping up in the immediate future.
Facing the prospect of a serious crisis in the coming days and weeks in relation to his political future, it is interesting to note that General Musharraf yesterday expressed his resolve that he would not allow his eight years of hard work of turning Pakistan into prosperous country go waste. The president has been quoted as saying that he is in contact with all political parties, including the PPP, to achieve political stability and that all is happening in the national interest so that the country might remain on track of development.
Although the general is trying to say that it is the country's economy and its progress that matters the most to him and that he's not after the job, he is frankly reassuring people that the only job that he covets is the one he holds at present.
Copyright Business Recorder, 2007