Share debacle report
Photo: Amdadul Huq / driknews
Finally, the probe report on much talked about share debacle is out. It is praiseworthy on the part of Mohammed Khaled Ibrahim and his team. Here are a few suggestions , book building method should be totally scrapped to stop over valuation of shares. SEC should be completely re-organized and transparency and accountability should be restored. A counter vigilance team comprised professionals may be appointed who will be responsible for auditing the activity of SEC on a monthly basis and if any wrong doing is found, it should be immediately notified to the proper authorities and immediate actions must be taken against the responsible persons. Demutualization is a must to give SEC an independent entity free from outside influence. Recommendations made by the probe body if initiated properly will definitely boost the capital market gradually and bring back confidence of the investors.
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