I’ve come to realize and believe in my gut that we cannot and should not prevent the ongoing failure of our stock exchange, by that I mean the Karachi Stock Exchange. It has always been on respirator, and people seem to be disconnected from it whatsoever always no matter what happens. It crashes thousands of time daily, but then remains there the next day to be crashed again and again.
After grinding to a standstill that lasted over three long months of turmoil, the Karachi Stock Exchange began trading on Monday without a floor. The floor that had been placed at the end of August under the KSE 100-index at 9,144 points, to prevent it from plummeting further, was finally removed. As soon as the locks were lifted, the index dropped again, the lowest frigging level since Nov. 2005.
This scares many established companies that have a great vested interest in the status quo. But the common man in the country doesn’t give a bullshit to the stocks, stock options, their bullish and bearish trends and everything related to it. It seems so remote. But while it’s easy to say “let them fail,” we must actively support the entire innovation stock system for the sake of evolving our economic future.