On 11th October 1999, Pakistan had the following debt ratios:

External debt: 47.6% of GDP
Total external debt & Liabilities: 62.5%
Domestic debt: 49.1% of GDP
Fiscal deficit/GDP: 6.1%
Current Account/GDP: -3.2%

"The persistence of fiscal and external deficits led to accumulation of large domestic and external debt throughout the nineties. The NPV (net present value) of external debt as a % of exports was estimated at 230% in 1998, much higher than the safe limit of 150%"-Dr. Ishrat Hussein

Foreign exchange reserves stood at $1.6BN with Total debt servicing due as % of FX earnings of 61.4%

Inflation was above 10%, economic growth had stagnated and fallen to a low 4%, from 6.3% of the eighties.

Munshi Ishaq Dar apparently bad mouthed so much about the previous government that he created problems for the current government.

The problem seems not the policies of the current government but the priorities. Anyone heard of the Kenyan-Model?

I know personally how couple of banks borrowed money at up to 40% mark-up!

Transformation from heckiling traders on the floor to a fully computerized and regulated exchange in such a short span of time was remarkable. The increase and growth witnessed over the past eight years was not a one off manipulated spike. The index hovered around a megre 800 points in 1999 to a peak of about 17000 pts in 2007-2008, it was one of the strongest performing exchanges in the world. Still after such a crash it is still valued at 9000 pts. During this period the KSE also witnessed an over whelming influx of Institutional Investors attracted by the growth / potential in financial, pharmaceutical, cement, steel, energy and telecom sectors. When I visited Karachi in March 2008 just after the elections, though the time were bad but still my friends at the KSE were hopeful. The index was hovering around 15000 and if conditions improved had the potential to even touch the 18000 mark.

But Alas, conditions took a turn for worse, first their were some irresponsible statements by Mr. Ishaq Dar, then of course the ensuing instability and question marks after the Musharraf exit snow balled into what we have today. Stock market of any country is a reflection of its economy and its morale. The fools who de-stabilized this country did not realize its very hard to attract both talent and capital, you fire a shot the whole flock will take flight. This is what has happened to this country in a very small span of time, harra kirri has been committed.

Now coming to the question posed, for me any bail out package might give sustenance but it will not generate enthusiasm. The morale is low and the money has gone to Dubai and far off lands. The educated traders and fund managers are looking for jobs some where else. Right now outlook is not good package or no package.

So the index fall from 15,600 to 9,144 and we all know that the market will fall down to around 8,000 when it’s opened again.

Major brokers like Aqeel Karim Dehdi, Arif Habib Securities, Javed Omar Vohra, Jahangir Siddiqui & Company, Zafar Moti, Elixer Securities, Khadim Ali Shah Bokhari & Company, and several others are clearly found guilty of criminal breaching of “SECP regulations of stock market” is the past and should have been dealt with but nothing was done.

WHY BAIL-OUT? THE BROOKERS? AND INVESTORS? I personally lost a healthy amount but this is what happens when you invest in a stock market – why should the government come down to offer financial aide? The CRY BABY ATTITUDE of the punters should stop!

In a Casino – you win some and you loose some. Fair enough!

just reopen the market! and you people will see the real faces of AKD etc.