Summary Ishaq Dar and Privatization Minister Muhammad Zubair have been approached, says association leader
KARACHI (Dunya News) – Court on Tuesday has granted five-day physical remands of AKD chief executive officer (CEO) and two directors for alleged insider trading.
Stock market plunged by 500 points in early hours of trade owing to protest by brokers against Federal investigation Agency’s (FIA) raid at market member, Aqeel Karim Dhedi s office on Monday.
The law enforcement agency had raided the office on allegations of insider trading in shares of Employees Old-age Benefits Institution (EOBI). The agency had detained two directors on January 4.
Aqeel Karim Dhedi called an emergency press conference after raid on Monday
Stock Brokers Association’s President Yaseen Lakhani denounced the FIA’s raid. He said that FIA’s raid based on research report is illegal. The association is in contact with Securities and Exchange Commission of Pakistan (SECP) authorities to solve the issue, he added.
KSE in early Tuesday hours sees buisness halt owing to protest
The association president also said that Finance Minister Ishaq Dar and Privatization Minister Muhammad Zubair have also been approached in the matter. The association’s leader cleared that no government institution conducts trading on recommendations from the brokers.
The brokers’ chief said that traders have been requested today to voluntarily halt business against FIA’s raid.
